Voluntary Redundancy

[454697819]

Morning all

Has any one been through this process and can give a bit of useful advice about what to get buttoned up in the process?

Things to be considered that I know about.

Pay in lie of notice
Holiday Pay
Contractual ability to restart alternative employment when found

Anything else that you wise lot can think about?

Cheers

Alex

[EssexDave]

I took voluntary exit (very similar to voluntary redundancy)

The best thing to do is to read through the agreement that you have between yourself and employer.
Check pension, check all their figures and dates.

Also check any restrictive conditions they put in on re-employment, not just in their firm but others (these are very rare but always worth looking out for).

You certainly want to double check pay in lieu of notice - although will they get you to work your notice period?

If you want to ask any questions about the process feel free to give me a PM - mine was from the civil service so there were very clear guidelines and procedures so it may be different to yours I don't know.

[Tara]

I too voluntary redundancy from a construction company would agree with pay in leiu of notice

[Spank86]

Also check any restrictive conditions they put in on re-employment, not just in their firm but others (these are very rare but always worth looking out for).



And if there ARE conditions don't automatically take them as binding, Companies can often put provisions in that aren't enforceable in the hope that people won't check.

[Sir Trev]

How big is your company? Do they have a Human Resources team you can talk to? Is this individual or part of a mass scheme?

I took VR from HP a few years ago and they were well geared up for it and had a very slick process in place with good documentation and support.

[Grant66]

The company should also provide time off for training and to attend interviews. There is a legal minimum for weeks pay per years worked.

[timwilky]

firstly, is this genuine redundancy with all the formal legal requirements that go with it?

My management take a different view from our HR, who want their pound of flesh and will work you through your notice period. Management say, if we have no work for them, why force them in, make them sit at a desk and take resources. Get rid now.

Implications as far as I am aware, tax free element of redunancy pay, if you can get payment in lieu added into the "redunancy" package. if you are under the threshold. yippee.

[454697819]

Thanks guys

Its not finalised yet, its genuine redundancy as we have no work so the chance of being made to work my notice is hopeful little.

I have been hear 5 years and have done some calcs and looks ok, but I need them to agree the figure.

I am fortunately on three months notice so this helps.

Just need the director to return my call to discuss it now.

Should be within the tax free bracket by a fair way too.

Thanks again

Alex

[The Idle Biker]

Take it. If they offer you a package you are either not rated higher enough for retention or the company is going downhill fast.
In my experience. Get the best deal you can and move on.

[454697819]

Take it. If they offer you a package you are either not rated higher enough for retention or the company is going downhill fast.
In my experience. Get the best deal you can and move on.

Ironically I have been told that they don't want to loose me, however with the changes that are happening my position will inevitably become redundant shortly anyway or I will be so miserable I will want to clear off- coupled with the needs to cut job costs(I am job costed) I have asked them to pursue the option of me going now rather than later.

I have a meeting on Tuesday to discuss the finer points, in which I hope they wont try to persuade me to stay and will assist with the exit quickly.

Ill update more then,

Regards

Alex

[PyroUK]

Offering up voluntary redundancy doesn't necessarily mean you aren't valued.

Depending on the size of the company and how much money needs to be saved they will offer it up to everyone in the hopes that some who they can't legally and easily get rid of will just foxtrot oscar on their own accord.

Seems like a pretty **** situation to be honest mate, how much time do you have to play with? As someone else said they have to give you time off for interviews and the like.

Good luck with it all!

[454697819]

Well,

I had my chat this AM, and its a go-er.

End of Feb (ish) I will be leaving.

Payment in lieu of notice (3 months)

+ 5 weeks @ stat

I have a wife due in middle of march and this will give me the space / time to be at home after the birth for about 6 weeks.

very very very bitter sweet.

I helped build this company into what it was before we were bought out, and it is very very sad to see it in this state.

Still business is business.

Thank you for your words of support / guidance.

[maviczap]

Well good luck for the future Alex, I've found that changing jobs can be a blessing, even though my employer has been the same for nearly 34 years.

[timwilky]

If all is what you wanted, then good luck. But I am sad to see they appear to only be giving you statutory.

Ironically I have just been in a meeting this morning where they have said they are to consolidate for 76 geographic offices worldwide to 6. Europe meaning Paris and Baden. So I guess I will shortly be told on your bike. a quick check on the calculator means I am entitled to 60 weeks pay under our scheme. Now I understand why my agreed in the UK payrise/regrading has sat on someones desk in Paris waiting head office approval.

[Spank86]

I have a wife due in middle of march ...
mail order bride?