Query on Redundancy Quote

donners

I have a question regarding information I have been given by my company regarding my redundancy quote. I figured all along that I would learn what the figure would be before choosing whether I would select redundancy or whether I should retain my employment. However, my company says," Redundancy Quotes will be made to you as part of the consultation process at your third (and final) one to one meeting. You would only receive a redundancy quote if you have not been selected against a role within the new proposed structure"

This means I have to basically say I am leaving before I know what my redundancy figure will be. But what if it isn't enough? I can't go back and change my mind!?!

I feel the best option for my family is to take redundancy but I can only budget for the future once it has been decided I am leaving the company????

Surely this can't be allowed????

getmore4less

If you know the policy you can work it out yourself.
Statutory or enhanced is the starting point

Part of the consultation you need to ask about the policy and if there are reps make sure they get the policy published that's part of there job

The issue will be has your job gone if it has then they should be giving you the information you need and a list of suitable alternatives and the package you will get if no suitable alternative can be found.

A lot of companies do the "reorg" outside the redundancy process(before putting people on notice) this avoids things like trial periods as you are in effect just changing jobs.

The primary purpose of the redundancy legislation it to try and keep people in jobs, so if there are suitable alternatives people should be going for them or just be told this is your new job you should not be making the decision based on package if there is a job and they want you to do it then and you turn it down that could be the redundancy package gone as you can be deemed to have resigned.

General_Grant

donners wrote: »

I have a question regarding information I have been given by my company regarding my redundancy quote. I figured all along that I would learn what the figure would be before choosing whether I would select redundancy or whether I should retain my employment. However, my company says," Redundancy Quotes will be made to you as part of the consultation process at your third (and final) one to one meeting. You would only receive a redundancy quote if you have not been selected against a role within the new proposed structure"

This means I have to basically say I am leaving before I know what my redundancy figure will be. But what if it isn't enough? I can't go back and change my mind!?!

I feel the best option for my family is to take redundancy but I can only budget for the future once it has been decided I am leaving the company????

Surely this can't be allowed????

Does your employer offer more than the statutory amount of redundancy pay?

If not, you can calculate your redundancy compensation using easily available calculators.

If it does, does it not publish the scheme details so that you can do your own calculations?

p00hsticks

donners wrote: »

However, my company says," Redundancy Quotes will be made to you as part of the consultation process at your third (and final) one to one meeting. You would only receive a redundancy quote if you have not been selected against a role within the new proposed structure"

This means I have to basically say I am leaving before I know what my redundancy figure will be. But what if it isn't enough? I can't go back and change my mind!?!

Are you sure that you are reading / understanding this right ?

My reading of it is that they seem to be saying that they'll only give you a redundancy quote if they decide towards the end of the consulation process that your role is actually going to be made redundant, which seems reasonable to me...

kazmeister

If a company have 5 people in the same position and will only need 3 in that position going forward then they are all at risk but not all going to be made redundant. Voluntary redundancy could be a preferred option for some people but you would expect to be provided with a schedule of what that figure might be. There could be more people requesting VR than they want to let go so would then refer to their selection criteria which is information which should be provided to you. The consultation is a 2 way process and you should be able to request that information.
If you are looking at a different role in the new organisation then you need to look at whether it has been job matched to your own. If more than an 80% match it would be classed as SAE and you would lose the redundancy option. Anything less would be redeployment and you would normally be entitled to a trial period in the new role to see if it works for you.
I would suggest looking at your works redundancy policy and also look at the information on the Acas website

jobbingmusician

p00hsticks wrote: »

Are you sure that you are reading / understanding this right ?

My reading of it is that they seem to be saying that they'll only give you a redundancy quote if they decide towards the end of the consulation process that your role is actually going to be made redundant, which seems reasonable to me...

I agree with this poster. You seem to be assuming that you will be offered voluntary redundancy, but that doesn't seem to me to be what the employer is saying. The employer says that they will redeploy where possible, and those who are not redeployed will be given their red. figure at the 3rd 1-1.