need (quite urgent) advice about details of redundancy packages(2 Posts)
Questions of what I need to know at the end. Background here - sorry a bit long. HR director very well known to be totally supportive of management and unhelpful to other staff
I work part time 2 days in office and 2 mornings till 12pm from home( brill cos it means I pick up ds2 from nursery 3 times a week)
Director called me in to see her this wednesday and said we are restructuring the dept and certain jobs are at risk. In the job you are doing we need someone to take on a more strategic role. We skill mapped you to the job and you are a 100% skill match so we do not need to advertise the job - we will just change your job title and increase your pay to reflect the increased responsibilitis of the role. ( Great , I thought!)
However, she said, given the increased profile, we would ask you to work 4 days a week in the office. If you would rather not do the increased hours, you can take voluntary redundancy.
I was very professional and said - thank you, this new profile looks fantastic but I would like to think about the options you discussed.
I do not want to take it on as the sort of role I am currently in is a 9-5 job and I purposefully took a job which didn't utilise my skill set while my kids are young. But people in the sort of role she describes work 18 hours a day and week ends.
So I now wish to negotiate the best possible redundacy package but have no knowledge of what to do.My questions are ( they show how little I know! so help gratefully received):
1. I have been getting £243/month ccv and am worried this may make my redundancy pay lower. Will it?
2. When me and DP met , we had both owned flats for a whil so we sold his, bought a house and I kept my flat on as a rental investment in my name - the new tax changes have meant that my net salary from the company has been less this year - will that affect the redundancy?
3. How long can I have to think about it - the director said she needs an answer asap as if i do not wish to take the job, she will need to advertise it.
4. package includes untaken holiday leave - the leave goes from April to April. I get 18 days a year and this year carried 5 days of untaken leave over. I think i have taken 12 days up until the end of the december. How will they calculate my untaken leave?
Many thanks for help. I'm in my early 40s but have not been in this position before so am feeling a little shaken up
Sorry to hear about your redundancy. I'm not an expert, but both my DH and I were made redundant earlier this year, so I will help you all I can.
1 - Your redundancy pay will be worked out on your gross pay, so CCV and pension contributions won't make a difference. As a general rule you get a weeks pay per year of service.
go to above link to get an estimate of what you may get (though your employer should set this out clearly for you during the consultation process.)
2 - Any other income you may have shouldn't affect a redundancy payout from your company, just the governments national insurance fund (this happens when companies go into liquidation). As above, redundancy pay is worked out on gross wages. (It is worth noting, that redundancy pay is not subject to income tax, but you are paid notice that will be)
3 - companies want this type of thing dealt with incredibly quickly in my experience. if possible give them your answer on Monday!
4 - 18 days / 12 months = 1.5days x 8 months = 12 days. Therefore you won't be owed this (depending on your actual leave date and holiday dates).
Redundancy can leave you a little shaken up, but hopefully it will turn into something positive for you. My DH took some time to take a course to improve his skills and is now in a better paid job and loving it. I'm loving the chance to be a SAHM for now, and exploring my options to set up my own business.
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