to try to hang onto my current employer?

[MrsArchchancellorRidcully]

Been with current employer for 20 yrs. At end of March told my role was redundant. Love my job. It's perfect for me. I'm good at it and gives me good work life balance.

There is another role that I would never have been interested in that I'm currently up for. Thing is, I've been offered almost a year's salary redundancy pay. I earn in the 40/% bracket. I'm a professional. It's around the 50k figure.

I'm torn. Do I take the cash and run or do I stick around and try for this other role?

I'm terrified of leaving if I'm honest. I'll lose pension, private health care for whole family, critical illness protection, life assurance etc. My role is quite niche/specialist and there aren't many other roles like it so I'm scared I won't find another job.

So Aibu to try and cling onto an organisation that doesn't want me?

I'm main breadwinner I should have clarified. I need to earn around my current salary.

Remember the first 20k of redundancy pay is tax-free.

What do you mean, you'd lose your pension? Do you mean you'd lose the right to accrue more qualifying years on a final salary or similar scheme?

Do you want to keep working? Could you get a job with a competitor with similar benefits?

I think you can trial the other role and then still be entitled to the redundancy package if it's not suitable.

Agree a timescale - three months, six months, whatever - in which you can trial the role. And get it put in writing too that you will accept redundancy if it's not the right fit for you.

Generally my advice would be try to hang on even in a new role, given how concerned you are about earning less/not finding another job/losing your benefits.

It's the first 30k that's tax free.

Currently my employer contributes 10% to my pension. I'd lose that.

There are no equivalent vacancies with a competitor at the moment.

So torn.

@ChainJane

I think you can trial the other role and then still be entitled to the redundancy package if it's not suitable.

Agree a timescale - three months, six months, whatever - in which you can trial the role. And get it put in writing too that you will accept redundancy if it's not the right fit for you.

Generally my advice would be try to hang on even in a new role, given how concerned you are about earning less/not finding another job/losing your benefits.

Was just going to repeat this, normally you get a period to try it out.

If you love the company, I would try for the new job, get another years salary and then possibly take your redundancy pay out.

Also check you what salary you could survive on. I got redundancy this year and didn't like any of the role alternatives in my company, and i'm struggling to find anything near my previous salary and I wasn't even on that good money.

Plus, could this other role give you alternative experience that could help you get into other roles, especially with your current role being niche and limited?

So Aibu to try and cling onto an organisation that doesn't want me?

Erm, how do you work that out? You said your role is redundant - unless they have said, or you have any reason to believe, they are trying to get rid of you, then you can't conclude they don't want you. That shouldn't be a factor in your decision.

Leaving is scary, but pretty much everyone I know who's been made redundant has used it as an opportunity to do something "better" - whether that's more money, more flexibility, self-employment, a passion, or something else. If you choose that - you will find something else.

But if you enjoy working there, value the benefits, have a good work-life balance, and are good at it - then staying on sounds like a good choice as well. Provided the role is right for you - that's a prerequisite. Why wouldn't you apply - if you're unsuccessful, or decline the role, your original role will still be redundant and you'll still have that option open, surely?

Didn't you just post about this a few days ago?

Have you had a solicitor look over your redundancy offer? They may be able to negotiate a higher pay out?

Hello! Employment lawyer here.

Yes, you can try "new job" for at least four weeks (more if employer offers enhanced period) without risking or forfeiting your redundancy package. This may be enough time, maybe not.

How old are you OP? Dependants and their ages? Mortgage? Savings? Transferable skills? Have you ever wanted to retrain and do something else?

I would be inclined to kick the can down the road and accept the new job to start as late as you possibly can, give it the four weeks and see how you feel then. A lot can change very quickly when companies reorganise and you could end up with it being a much easier decision either way. Good luck

If you are terrified of leaving, losing the benefits and think jobs will be hard to come by, then I think you have answered your own question, i.e. pursue the other role.

And redundancy does not mean the organisation doesn’t want you, it means they no longer require that role. If the organisation didn’t want you, you wouldn’t be in the running for the other role.

What do you do? Some markets are very buoyant at the moment and you might find a better paid role and get the payout too.

I’m an accountant at about same salary level as you. My phone is ringing several time a week about vacancies.

First 30k tax free but remember ALL of the remaining 20k will be taxed at 40% so your net payout will be £42,000

You need proper financial advice OP. Are you 40 and started there as a whippersnapper or are you 5 years from retirement? What's your pension scheme rules about early retirement/redundancy over a certain age? Public sector/Private sector? Too many variables.

However, there's lots of people who change paths due to restructures so if they are a good employer I'd stick with it

Been with current employer for 20 yrs.
My role is quite niche/specialist and there aren't many other roles like it so I'm scared I won't find another job.
You've got stuck in a rut, with a specialism that is too specialised. Eek!
Take the new position with current employer (with redundancy-safeguard as discussed above) and retrain like mad to make yourself more employable elsewhere, should it come to that.

YANBU. Take the other job.

I was where you are but took redundancy. It was very hard, no one wanted to see my transferable skills just looked at my last job title! It took many months to find a job which then was at a much lower level. It took time to build back up the organisational reputation I had previously had and move my role forwards to more seniority.

You've got a lot of great perks, if the company is stable and the outlook is good, take the other job is my advice.

@tallduckandhandsome

Didn't you just post about this a few days ago?

Nope. First time posting about it.

You mention your role being quite niche and now redundant. Many years back my father was made redundant from a highly specialised IT role which was dying out (mainframes). He took the big lump sum payoff but there was nothing else out there he was qualified to do. Everyone was laying off the people in his role. He flailed around for a few years before seeing out his working life in a series unskilled jobs like delivery driver.
He'd have been better off staying in the company and trying to retrain into a newer field (in my opinion).
Is your role something that will get harder to find? If so, stick with the company.

Do you have any income protection insurance? if you do there's a difference between being made redundant and taking voluntary redundancy, so make sure you know which is the case here.

There are very few roles that are so niche that they don't have applicability elsewhere. But it's difficult to be more helpful without knowing what your role is, and I understand your reasons for not wanting to share that.

Are there agencies that target people in your role/sector that you could ring to see what might be available?

I'm trying not to out myself but I'm late 40s, 2 dc 12 and 9.

I should also clarify I've got an interview for the internal role so nothing guaranteed.

Some days I think, I'll get something else. I should take the summer off and get something in the autumn and hopefully be left with around half of the money which would be nice.

I just don't know.

Some days I think, I'll get something else. I should take the summer off and get something in the autumn and hopefully be left with around half of the money which would be nice.
They always say it's easier to find a job if you are already in a job.
The dream scenario is that you secure the job at current employer as a back-stop, meanwhile find another job but persuade them to delay start date until new term.

Some days I think, I'll get something else. I should take the summer off and get something in the autumn and hopefully be left with around half of the money which would be nice.

That's what I thought as well.

If they retracted the redundancy offer, how would you feel? That should tell you what you need to know...

If you'd be relieved then take another job.

If you'd be gutted then don't!

Worth a try for the other role. Nothing to lose.

You can always agree the redundancy offer after a 3 month or 6 month trial.

How much would you earn in the new role p.a versus the payout? Would a year or two in the new role net off to be the same? Something to consider if you'd rather stay employed at this company.