Making Sure You Get The Best Redundancy Package
Jun 1st, 2008 by shop-universal-best-buy
Making Sure You Get The Best Redundancy Package
Many people have known what it is like to be made redundant. It can really knock your confidence and if it comes as a total surprise it can take a while to get back on your feet again.
But once that initial shock has worn off you need to make sure you find out what kind of redundancy package you are going to get – and you shouldn’t be afraid to ask any questions you might have, since this is by far the best time to do it.
The first step you should take is to check your contract of employment to see what it says about redundancy. While there are legal requirements as to what a company should provide when it makes an employee redundant many companies do provide more, so be sure you are getting the best package that is available to you.
You may also find that you can discuss matters with your employer to arrange the circumstances of you leaving to suit both of you. This will usually take the form of compromise agreements that can be written up to apply to each specific and unique situation.
Obviously any occasion where redundancy becomes a factor is an anxious time for both the company and the employee. The worker is losing their job and wants to know that they will be able to go on to another position in another company without being affected too badly by the redundancy. The employer meanwhile wants to ensure that the process goes as smoothly as possible and is resolved quickly and easily. They may also want to protect their image and reputation.
On some occasions, the best way to do this is to arrange a compromise agreement which is worded to be appealing to both parties. If your company offers you one of these you are strongly advised to read it through thoroughly and take time to get it checked by a solicitor before signing it. This is vital if you want to ensure you are getting the best deal you are entitled to.
Of course if your contract stipulates that you will get a certain amount of redundancy pay (and sometimes other benefits too, such as help in finding another job and an excellent reference) then compromise agreements may not be necessary. They are more common if the company feels there is a chance of the employee taking matters to an employment tribunal, and they want to try and prevent that happening.
In short, although your redundancy may come as a complete shock it is important not to agree to anything without having time to consider your situation first. Most companies will understand this and agree to it, but ultimately it is up to you to make sure you protect your own back as much as you can.
Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
Making Sure You Get The Best Redundancy Package / Author: pmcindoe
