Retention Bonus

CraigP123_2

Hi,

I am currently in a redundancy consultation period until 1st June when I will be made redundant and leave. My months notice will take me to 1st July but my last day of work will 1 June.

I have been offered the statutory redundancy pay along with a month's salary as a retention bonus payment.

On 1st June the part of the business I work in is being sold to another company.

However my bonus has conditions that the revenue is maintained throughout June when I will have left the company and can have no effect on what is happening and no way of knowing what the revenue will be.

Is this legal?

Thanks

mariefab

Bit of a puzzler this one. Do they actually want you to leave?

The purpose of a retention bonus is to induce you to remain with the Company. Especially in times of upheaval like mergers or when the Company is being sold.

CraigP123_2

basically they are giving our jobs to an external company but need us to manage the handover so this is a payment to make sure we don't just leave beforehand which would make the handover problematic for them

I guess as it's on top of statutory pay they can do as they wish but seems weird that we need to wait until a month after we've left to know if we achieved a target :mad:

mariefab

It's strange that they haven't applied the retention bonus to May then.

Still I suppose that, as they're only paying statutory redundancy and a months notice pay, a weird bonus is better than none.

getmore4less

Why is TUPE not being used?

If they are terminating you 1st june with PILON then you should leave then.

If they want you to work longer then they should give you a new date.

People leaving before their termination date risk losing the redundancy.