To take the money and go?

[Coastalcommand]

I've been in the same job since leaving university and I have always loved it.
In that time I've worked my way up to a good level of pain albeit with some fairly unpredictable at always very long hours. Given the current instability around Brexit my job is starting to look less secure, as is the whole sector I work for. For the second time in six months we are all being offered voluntary redundancy.
I'm currently on maternity leave and absolutely loving it, so much so that I've been dreading putting my baby into nursery when I go back to work.
There's also the issue that my husband and I both work long and often fairly antisocial hours so when I go back there will be a fair bit of juggling in terms of childcare and our little one will be in nursery from 7am-6.30pm five days a week.
The voluntary redundancy offer is really quite generous, over a years wages for me. I am tempted to take it, mostly because I'd love to spend more time with our baby but also because I suspect the next time redundancy looms (and I think it will) it may not be voluntary and the terms may not be as good.
We keep hearing that similar firms are now only offering statutory redundancy packages rather than our legacy terms.
Given that nursery fees would take up more than half my wages and we could live on my husband's wages (albeit not as easily) AIBU to take the offer?
Given that my industry is contracting I would be v unlikely to get a similar job. My plan would be to use the year I'd be paid to develop transferable skills and try to launch my own business in future.
Am I being stupid to leave a well paid job in this climate?

This does sound tricky! If it was me I would definitely want to take the money.. and run!! But yes you're right to be careful as industries do change very quickly, as could your husband's circumstances.

Go through numbers very harshly and work out the best and worst case scenarios - including sickness and full redundancies... Then see how you feel.

If it is a good redundancy package though it could be good to be clever with that and stay happy for a while! Good luck! x

I'd certainly be very tempted to take it in your position. The only reason I might not is that if I felt it would be really hard to get such a job again when you're ready to go back to work and it will forever impact on your career.

Thank you. I'm just so scared of making the decision - I've been there 16 years and it scares me thinking I wouldn't have the security. But the idea of having my own business has always been a dream. I think I'm just afraid to take the leap.
But then I look at the baby and know what I want to do. Aargh...

I loved being at home with my babies but not all my friends did. Some were gagging to go back to work at six months and I was sad I couldn't stay at home for a full year! It was six months paid then, anything else by negotiation. Some really felt a loss of identity from being adult with a good job, respected by peers to becoming a mum covered in baby vomit.

But still, in your circumstances I would crunch the numbers very carefully (including nursery fees) and work out how I could take the money. It sounds very generous. I'd really cut back financially though - don't buy a £1000 pram (unless you have already got it!). Don't act as if you are still well paid, act as if you are living on one salary. There are lots of costs that will go down - no commuting, no take away coffees (get a flask and take it with you to park), no bought lunches etc. Make sure you keep one or two special luxuries just for you, whether that's a £100 hair cut every six weeks or a special face cream.

I would look at this very carefully - do you know anyone who works in HR/employment law who might know all about the ins and outs?

I used to work in a very large firm who had a well-deserved good reputation for training and staff welfare - but when they needed to downsize all the 'packages' were very much in their favour, not the staff.

It took you 8 years to conceive and you love being off on maternity leave. I'd take the redundancy. But if still aim to get back into employment in 2 to 3 years.

If I was in your position OP I would definitely take it. If you can live on your DH's salary for a few years albeit with cutbacks, it would be worth it.

take it. If they've done VR twice the company is heading for the skids. The next round (and there will be a next round) won't be as generous. Your job is on death row so it is either go now or go later with less cash.

I think you should do it.

It's your dream to have your own business.
You look at your baby & want to do it
Your baby would be at nursery for very long days
It sounds like neither of your jobs are very baby friendly or flexible
Your DH is supportive

It's understandable that your scared, but not much in life comes easy or without taking a risk.

However, I'd be having a few good talks with DH first re SAHM does not mean 'Drudge', that at some point in the future if you want to focus on your careeer he makes some sacrifices & im not sure how you make this stick without going legal, that if you were to separate you'd expect more than the CSA level of payment because you are giving up your job & thus making his ability to climb the ladder much easier. He needs to understand that what you are doing will make HIS life MUCH easier too & it's not just a case of only you benefitting. It's sometimes easier to make them appreciate that if they've HAD to pull their weight re nursery drop off/collection, days off work with sick children etc. It's quite hard for some to grasp the benefits THEY are getting when they just see you as loafing around at home with the baby & having lunches with friends.

If your DH wants you to take the money and leave the job, and you want it too, I can't think of a strong reason not to :)

Take the money, spend the next year developing transferable skills and use the time to launch your business as you said - it's a great idea and it's always better to work for yourself than being at the mercy of a company whose future isn't looking good.

I would say that you should firm up exactly what your business will be, figure out what transferrable skills you will need to help you with this and then get on with it. You may have already started this already though.

Best of luck, OP.

I would take it.
Massively cut down on expenditure so you are hardly touching the redundancy cash.
After 6 months or 1 year start seriously looking for another job.

I'd take that in a heartbeat. I really wouldn't want to put my baby into nursery for those hours and coupled with the fact you can live on your DH's wage would make it a no brainer.

What Mouse says - there are benefits to your DP of having you be a SAHM.
I actually took redundancy just over a year ago, as I was desperate to quit a role I used to love for a number of reasons and the pay offer made it a no-brainer for me (2 years pay).

I've done some cool stuff, sorted out a lot of support for ds, done a little work but concluded I don't want to be self-employed, and now looking for work. Which is taking longer than I thought it would, as applying in my field is so onerous it's hard to do more than one application a week. But if I just needed money I could get temp work at a lower level fairly easily.

Do you plan another child? If not, fees will go down hugely in two years. If so, may be worth sticking it out to get more savings and childcare vouchers. (took me over 8 years to get pregnant with ds, but then knocked back the Clomid and it worked on the second go).

If you could cope on one of your wages, then taking the deal sounds like a good idea - and devote a month of your time out to seeing if you can overpay mortgage but get back if needed, ensuring all insurances and wills are in place, utilities are on the best deals, etc. Life as a SAHM can be a lot cheaper as you can shop around more, get reduced items, not pay for commuting, etc.

I would take the money and run as you may not have this opportunity for such a windfall again. I'm in a similar situation - I have been offered statutory redundancy due to a change in structure and location of my current employment. I could've transferred but it would've meant at least 2hrs extra journey time per day and I have two young DCs. I'm taking the money and hoping something nearer to home will come up. I also have some wild ideas about starting my own business from home (not glitter shit!). I think you have to go for it if you can manage financially. No doubt things will work out well in the long run. Good luck!

I'd take it but also would look for something else, maybe not in the same sector where you are in atm if you know it will get hit by Brexit.

I was recently in the same situation but with two children, 11years service and a part time request turned down. All my wages would have gone on childcare and the industry I work in is cutting back a lot so the threat of compulsory is also very real. I did the numbers, did them again and decided to take the redundancy offer. I would make sure that you know exactly what the package detail is and what of it is taxable and not taxable as well as if they will pay you for time in lieu and holidays. Also, find out if they'll support any retraining packages and if you'll be able to be reemployed by the same company if things pick up again, some don't let you work for them again.

If you can start up your own business then that's great as I do think it's harder to find a new job that fits in with part-time or school hours than being able to change current job hours.

Once you've made your decision don't look back and think "what if", that's what you've decided and is your new way of living. Get out your calculator or Excel spreadsheet and get number crunching, good luck with your decision.

Yes I would very weary in the current circumstances to plan NOT to work for a while.
Things are going to be harder economically for a while at least so I don't think this is the best time to stop work altogether.

I can see how your DH thinks it has a lot of advantages for you to be at home. It will certainly be beneficial for him.
I would want to ask what will be beneficial for you??

Think about your baby's life too. I have worked with plenty of children with attachment disorders and low achievement due to parents who work long hours.
Time for family life rather than childcare is so important if you can balance your working life. Nothing sadder than children's experience of family life being home at 6.00pm 'bath and bed', no time to eat and talk together, no time/energy for reading or a bedtime story. These children struggle to fulfil their potential and to build relationships.

OP, it's just a job. You can always get another job.

Take the money.

I work in a niche area where about 80% of us will be out of work within the next 2 years due to recent changes. We stand to get nothing but statutory redundancy, which is pitiful. I think for me it works out at about £1k.

I wish I had the option of getting a years salary

Take it, but invest a good proportion of it in a course that will both give you something useful for your business AND potentially open the door to a new career as a fall-back plan! In my experience, a CV 'gap' is only really significant if you haven't done anything different in that space. If you've used it to do a part-time MA in something useful, while being a Mum, I doubt anyone will ask questions.

I wouldn't hesitate to take the package on offer. One year's salary is a very generous redundancy. The firm obviously has some issues and needs to restructure so your job is at risk anyway.
I would make some very definite plans for the immediate and mid-term future but such a sum of money allows more time at home and the funding for re-training etc. Good luck.

Take it and run, and congratulations. If you can live on DH salary, then maybe look at using your lump sum to start your own business - your lot will get 30 free nursery hours at 3 years old.

I would take it, save the money and try and live on one salary for a bit while you decide what to do next. Enjoy the time with your baby and start thinking about how you can launch your business if that is your dream. It's a great opportunity to rethink what you want to do and to reshape your working life to suit your family. An absolute gift in fact.