Surviving Redundancy

By Joanna Sutton

Principal Associate

T: 020 3892 6811
E: jsutton@nockolds.co.uk

Unfortunately, in the current economic climate redundancy is becoming more common. So, if you find yourself placed at risk of redundancy, here are our top tips:

What will you be entitled to?

Whilst statutory redundancy pay is often disappointing, many organisations offer enhanced redundancy pay so check if your contract or staff handbook contains any information about what you will receive in the event that your redundancy is confirmed. As well as redundancy pay you will be entitled to be paid your normal salary until the date your employment terminates, notice pay and accrued but untaken holiday pay.

Know what to ask

Your employer should consult with you about the possibility of being made redundant. This should involve them explaining how the redundancy has arisen, whether there are any alternatives such as working reduced hours or a pay cut and whether there are any alternative roles available that you could apply for.

As part of the consultation you are entitled to ask questions, such as:

  • Who else is at risk of redundancy – have any of your colleagues been missed out or given roles that you could do?
  • If there are other roles available, what is the selection process and are there any other factors that will be taken into consideration?
  • When do they envisage the redundancy will take effect?
  • What does the total redundancy package look like?

Consider your options

For many people redundancy can be very unsettling, but we do also speak to employees who have seen the ‘writing on the wall’ for some time, who are given a generous redundancy package and who go on to do something completely different and see it as the best thing that could have happened. Therefore, considering whether to challenge the redundancy or accept it, take the pay out and move on is often an important deliberation and something we are instructed to advise on.

Don’t take it personally

Unless there is an ulterior motive for the redundancy, there is no shame in employment being terminated for this reason. It definitely should not impact on future job prospects. In the last few years we have seen multi million pound businesses who are household names being forced to close altogether with the employees being made redundant, through no fault of their own so there should certainly be no stigma attached to it.

For more information on redundancy and how we can help you, please contact our Employment Team on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.