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Voluntary Redundancy

wiflib

wiflib

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This question has absolutely nothing to do with diabetes so feel free to skip it if you so desire.

On top of my career as a Midwife, I have for the past 2 years worked part-time as a marketing manager. I was informed last week that the company is being re-structured and they have asked if I want to take voluntary redundancy.

I'm not daft, I've googled and searched but I have failed to understand exactly what it is. How does it work? Am I entitled to ask for things specific? Who decides on the 'package'? What are my rights?

Anyone out there care to share their knowledge of this? If you live within a 10 mile radius of me I shall treat you to a shandy and I promise not to wail miserably over my Pepsi Max. Scratch that. I'm just about to loose a third of my income so I'll be at home, drinking pond water.

wiflib
 
Hi wiflib.

Here is a link to the UK Gov site all about redundancy and what to expect. Lots of useful links here.

http://www.direct.gov.uk/en/Employment/ ... /index.htm

CAB is also another good site to visit for advice. Are you in a Union ? If so they can help answer your questions too.

Ken.
 
I've been through redundancy a couple of times. Check very carefully the terms of what is being offered, and also the details of any credit agreements you have in place (mortgage, loans, cards). In the majority of cases, although the redundancy terms may seem attractive, if you opt for it voluntarily any payment protection insurance you may have WILL NOT PAY OUT. They will treat you as if you just left your job of your own volition.

For redundancy in general, companies are required to go through a specified consultation process. If less than 100 employees are for the chop this period is 1 month, any more and it's 3 months. Whichever, get the terms and parameters of the consultation agreed as quickly as you can - once these are signed off, the remainder of the consultation period is paid to you tax-free.
 
Leaving aside the other exellent advice on where to get more inforamtion, here are a couple of other things you might want to consider.

Voluntary redundancy packages can sometimes be quite generous. I know several people who have used their voluntary redundancy pay outs to set themselves up in buisness. My brother recently took voluntary redundancy from a public sector job and is retraining to be a driving instructor while he has 3 years salary in the bank.

If you have not been there long and don't work a significant number of hours your payout potential may not be that big.

I think voluntary redundancy is often useful for people who may have other opportunities. I know many people who took voluntary redundancy in the public sector and used their contacts from their employment to set themselves up as consultants and then sell their services back to the former employer.
 
Thanks all.

I knew you lot would help.

After spending hours trawling t'interweb, I'm still none the wiser. Lots of info for employers and basic info on what redundancy is, but I still don't know the difference between enforced and voluntary redundancy. Obviously I want to know whats in it for me other than a paltry sum of money and what my rights are and there's not an obvious answer.

I will keep you posted, should you wish to know of course!

wiflib
 
Hi wiflib.

Don't know why you are only getting basic stuff on your trawls. There is much information out there. Some free, some at a cost. However nothing beats a good old fashioned face to face with someone ?

Here is a link to the CAB website with Redundancy information.
http://www.adviceguide.org.uk/index/lif ... follow.htm

If this doesn't help I suggest you contact the CAB and ask their advice. They have employment law specialists all over the country and all the advice is free. I used them when my son was unfairly dismissed and was very impressed with the service given and the advice offered. We also won the case using a home insurance legal expenses cover to pay all the Barrister's costs etc.

There is probably a local office near you ? Call in or phone them for the best result.

Ken
 
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