Voluntary Redundancy

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

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.

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

Originally Posted by EssexDave

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.

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

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.

Originally Posted by 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.

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