{"id":12188,"date":"2022-04-28T11:44:18","date_gmt":"2022-04-28T11:44:18","guid":{"rendered":"https:\/\/www.s1jobs.com\/blog\/?p=12188"},"modified":"2023-12-11T14:34:04","modified_gmt":"2023-12-11T14:34:04","slug":"ultimate-guide-redundancy-coping-tips-entitlements-planning-future","status":"publish","type":"post","link":"https:\/\/www.s1jobs.com\/blog\/ultimate-guide-redundancy-coping-tips-entitlements-planning-future\/","title":{"rendered":"The ultimate guide to redundancy: coping tips, entitlements & planning the future"},"content":{"rendered":"

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Losing your job through redundancy can be one of the most stressful moments in your professional career. Throughout lockdown, redundancies were not uncommon to witness with the pandemic causing uncertainty and panic throughout companies across the world \u2013 proving particularly challenging for new and small businesses.<\/span>\u00a0<\/span><\/p>\n

s<\/span>1jobs<\/span><\/span><\/a> is here to help with some of the most burning questions surrounding redundancy; what it really means and what you\u2019re entitled to. Read on to explore our guide on what steps to take next.<\/span>\u00a0<\/span><\/p>\n

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What is redundancy and what does it mean?<\/span><\/span><\/strong><\/h2>\n

In simplest terms, redundancy refers to a form of dismissal from your job. It typically occurs when employers need to decrease their workforce. This is either due to a position no longer being necessary or because the company can no longer afford to keep individuals employed.<\/span>\u00a0<\/span><\/p>\n

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What is<\/span> the difference between voluntary redundancy & forced redundancy?<\/span><\/span>\u00a0<\/span><\/strong><\/h2>\n

Voluntary redundancy occurs when an employee voluntarily accepts a package. However, if an employee is selected for redundancy, then it is referred to as forced redundancy (also known as \u2018compulsory redundancy\u2019). Regardless of the type of redundancy, there are still processes and procedures in place that organisations must follow when making any employees redundant.<\/span>\u00a0<\/span><\/p>\n

As an employer, you may end up paying more money to employees being made redundant, however, the overall process will be shorter thus, you will spend less time paying back employees\u2019 basic wages.<\/span>\u00a0<\/span><\/p>\n

An important aspect of redundancy to consider from an employers\u2019 point of view, is the morale impact that will come from a forced redundancy. Inevitably, if an employee leaves on their terms, then morale will be less affected. Whereas, a forced redundancy will not only impact the employee in question but may create uncertainty and stress amongst other employees, if one of their colleagues has been made redundant against their will.<\/span>\u00a0<\/span><\/p>\n

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What are your rights and entitlements?<\/span><\/span><\/strong><\/h2>\n

If you or a loved one has been made redundant, it\u2019s vital you check what rights you have and what money you are entitled to from your employer.<\/span>\u00a0<\/span><\/p>\n

There are typically <\/span>two different types<\/span><\/span><\/a> of redundancy pay you could be entitled to: \u2018statutory\u2019 redundancy pay or \u2018contractual\u2019 redundancy pay. Statutory redundancy pay refers to payment that the law says you\u2019re entitled to. If you\u2019ve been with your current employer for 2 years or more, you\u2019ll typically be entitled to \u2018<\/span>statutory redundancy<\/span> pay<\/span><\/span><\/a>\u2019. Meanwhile, contractual redundancy pay refers to extra money that your contract states you can claim in addition to the statutory pay.<\/span>\u00a0<\/span><\/p>\n

There are some cases where you won\u2019t be entitled to statutory redundancy pay, including:<\/span>\u00a0<\/span><\/p>\n

Learn more<\/span><\/span><\/a> about the legalities involved with actioning a forced redundancy as an employer.<\/span>\u00a0<\/span><\/p>\n