VR or a new Job? I have to choose?

Quinch1199

Background:

The company is downscaling and myself and a few others have been accepted for Voluntary Redundancy. I have 15 years of service and this has meant a quite substantial package (well, substantial for me at circa £16k).

However, I’ve been informed that my notice period they want me to work is 16 weeks!! Further to that, even though I know I don’t have a job at the end of that period they’ve advised me that should I give THEM notice to leave before the 16 weeks is over then I will receive no VR payment.

Is this correct? I thought acceptance of VR between the parties meant this payment was secure as long as I either worked the prescribed period of notice they gave me or my own contractual notice period??

I am getting offers of jobs externally already, so far their tentative and I’ve not accepted anything. I’m not of an age that I can retire so I will need work but I do not wish to lose the opportunity to gain from my long term of service.

Thank you,

McKneff

They can actually insist that you work your notice period but I thought, and I am quite happy to be corrected, although they have to give you a weeks notice for every full year you have worked for them, but it is also capped at 12 weeks.


So you have a choice to make, it happended to me but luckily I was just over normal retirement age so it was a no brainer for me.


Good luck

sparkermarketing

Quinch1199 wrote: »

Background:

The company is downscaling and myself and a few others have been accepted for Voluntary Redundancy. I have 15 years of service and this has meant a quite substantial package (well, substantial for me at circa £16k).

However, I’ve been informed that my notice period they want me to work is 16 weeks!! Further to that, even though I know I don’t have a job at the end of that period they’ve advised me that should I give THEM notice to leave before the 16 weeks is over then I will receive no VR payment.

Is this correct? I thought acceptance of VR between the parties meant this payment was secure as long as I either worked the prescribed period of notice they gave me or my own contractual notice period??

I am getting offers of jobs externally already, so far their tentative and I’ve not accepted anything. I’m not of an age that I can retire so I will need work but I do not wish to lose the opportunity to gain from my long term of service.

Thank you,

If they are making you work the full notice period, just tell your new employer that you cant start till then. Most employers will be happy to wait for the right candidate.

Don't mention to anyone else you have got something lined up and keep your head down in the current job.

If the new employer won't wait, you just have to decide whether to gamble on finding something in 16 weeks compared to losing your redundancy pay off.

p00hsticks

What is the contactual notice period your employer has to give you in your employment contact ?

As McKneff says, the statutory minimum is a week for each year of service, capped at a maximum of 12 weeks, but it's perfectly possibly that your particular contract says sixteen weeks. In the absence of any mention of contractual notice periods, the statutory minimum notice period applies.

I'm not an expert but my understanding is that it's your employers choice as to whether they want you to work the whole of that notice period or they pay you in lieu of some or all of that notice period.

And if (as is usual) you have to give them less notice than they have to give you, if you hand in your notice saying that you wish to leave prior to the agreed redundancy date, then your company can legitimately take it that you have resigned prior to being made redundant and therefore you would not be eligible for any redundancy payment.

Quinch1199

Thank you. Well, I hope they choose to give me "Garden leave" at some point but that answers my question.

They're going to give notice of 16 weeks because the package is enhanced.

McKneff

It makes me wonder though that companies make jobs redundant so no job exists, then they want them to work 12/16 weeks notice in a job that doesn't exist.....

p00hsticks

McKneff wrote: »

It makes me wonder though that companies make jobs redundant so no job exists, then they want them to work 12/16 weeks notice in a job that doesn't exist.....

But it doesn't usually work like that. Redundancies often come about as the result of companies deciding to relocate or restructure, or losing a key business contract, and they tend to have plenty of advance notice of this sort of thing. That therefore enables them to forward plan any redundancies so that they can keep the staff around to work until they are no longer needed, and minimise the amount of unecessary PILON or garden leave they have to pay the staff for...

KayJay

Just bear in mind that if you work in the public sector there may be employers that you cannot go and work for, for a period of time after taking redundancy else you will lose your redundancy. It will be subject to a modification order and will be on the internet for you to check.