- Set out your objectives.
- Check your contract of employment.
- Check your employer’s redundancy policies.
- Decide your negotiating strategy.
- (Almost) always seek to negotiate the financial values.
- Be clear and polite when negotiating.
- Take good notes of meetings.
- Do your research.
Should I take redundancy package?
You may want to consider voluntary redundancy if you think your position will no longer be needed under the new management. The terms and conditions of your employment should stay the same if the business is sold. Crisis, whether internal, industry-realted, national, or international, is extremely taxing on businesses.
How to get the best redundancy package possible?
A redundancy package gives workers below the age of 22 the right to half a week’s pay for each year of employment, a full week’s pay for each year for those aged between 22 and 40 and a week and a half’s pay for each year of work over the age of 41. Always negotiate. “Most bosses hate to make people redundant,” Jonathan says.
Do you have to pay redundancy pay when you are made redundant?
When an employee’s job is made redundant their employer has to give them redundancy pay, also known as severance pay. Use our Notice and Redundancy Calculator to calculate redundancy pay. Redundancy pay doesn’t need to be paid in some circumstances eg. by some small businesses and to casual employees.
What’s the difference between statutory and contractual redundancy pay?
‘statutory’ redundancy pay – what the law says you’re entitled to ‘contractual’ redundancy pay – extra money your contract says you can get on top of the statutory amount If you’re entitled to either type of redundancy pay, it’ll be paid by your employer.
How old do you have to be to get a redundancy package?
This doesn’t apply to contractors, casual workers, some civil servants or police officers. A redundancy package gives workers below the age of 22 the right to half a week’s pay for each year of employment, a full week’s pay for each year for those aged between 22 and 40 and a week and a half’s pay for each year of work over the age of 41.
