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Help needed with what would be considered suitable alternative? (the salary aspect)

Last Thursday the consultation process began and my role no longer exists. In terms of the dept - I am in finance and the structure was that there is the FD who then has three senior managers. These are financial controller (transnational side of finance), Head of Financial Planning & Analysis (budgeting, analysis etc) and Head of Group Reporting (me - responsible for compliance and reporting further up the chain as well as treasury).

None of those roles exist and a new role has been created which is financial controller, however different to the role above of the same name. The Head of Financial Planning and Analysis has been served notice and now the financial controller and I are in a pool for the one role.

Now I don't like working here and initially it was a relief that the consultation process began. I am only here because I am paid above market rate (around £5-£10k). General opinion is that I will not get the role however there is a small chance I will.

In terms of grade it is similar and the role could be said to be similar too although it incorporates three roles into one. My concern is that if I am offered it then the salary may be reduced. I earn £10k more than the other manager and indications are that this role would end up on a lower salary (somewhere between his and mine).

The problem is that a reduction in salary leaves me with nothing to actually keep me here. Initially I went along with wanting to be considered for the other role as it was felt that it was a suitable alternative, based on job spec.

My question really is that what level of salary reduction would it take for it to not be a suitable alternative?

BTW I have only been here just over the two year mark.

Replies

  • getmore4lessgetmore4less Forumite
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    An idea of where £5k-£10k sits as a % of the total would be useful.

    ultimately a tribunal decides but 10% probably OK, 30% probably not

    I would be more concerned about the 3 into one and the potential workloads and conflict of interest between the parts of the position.

    Are they paying more than statutory?

    if not then hanging on and looking for another job may be worth more than the £958
  • edited 17 October 2016 at 9:24AM
    SystemSystem Forumite, Community Admin
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    edited 17 October 2016 at 9:24AM
    Thank you and sorry I re-read my first post and I wasn't very clear. My objective is purely to make the process last as long as possible. The reason for this is that I am on 3 months notice. If I there is a possibility that the consultation can end, e.g. today, then that means I leave 17/01/2017. This isn't really ideal because the market slows down December and probably won't have picked up by mid Jan meaning I need to find a job in 6 weeks. On the other hand, as consultation started on 13/10/2016, if I get served notice at the end of 30 days that would give me until approximately mid Feb meaning that if I don't find anything by beginning of December I still have a decent chance end of Jan, beginning of Feb to look at stuff and possibly even get a contract role.

    My concern really is that I want the consultation period to last at least 30 days and I'm not sure 1) if the role is a suitable alternative (his salary £55k and mine £65k so that is a 15% drop if I am offered it on his salary) and 2) if I were told tomorrow that I am being considered for the role but at £55k and I turned it down, does consultation end?
  • getmore4lessgetmore4less Forumite
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    15% is in the range of suitable so if looking to leave might be worth looking for other things to add to the list.

    there is always the 4 week trial which can be used to extend if they get the timings

    unless there is a statutory reason for the 30days consultation can end as soon as both side agree there is nothing else to consult on.

    might be an idea to have chat with the other person to see where they stand, if you both want to go that could leave the company with either persuading someone to stay or accepting they will need to recruit
  • SystemSystem Forumite, Community Admin
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    The other person doesn't want it either as it combines two plus roles but he has family commitments and they are quite flexible here so he is open to staying until his kids are a bit older.

    So I guess my best option is to just say that I am interested and with half term and annual leave that would push the decision into the end of October meaning I would leave end of Jan.
  • getmore4lessgetmore4less Forumite
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    the other thing you have to watch out for is they change their minds.

    Has the other person that has been put on notice - working it, Garden leave or PILON

    Is it really possible to merge these jobs into one and that person manage even if they can offload some of the work elsewhere.

    if not they can withdraw the redundancy right upto the last day. If you really want out asking for PILON, if it is not offered, may be worth considering.
  • SystemSystem Forumite, Community Admin
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    The other person is in the same position as me in that consultation has begun and he was told he is being considered for the position. Meetings have been scheduled for this week to go through the terms offered in the new role as well as go through the job spec and then a 3rd meeting early November for the final decision.

    I spoke with the FD this morning regarding something else but he brought the restructure up and one encouraging sign was that he is finding it a lot more expensive than expected. That would work in my favour as I have been here only 2 years and the colleague is somewhere near 15 years and with our salaries being the highest and second highest in the department this would be an opportunity for them to save money by keeping him on.

    PILON isn't available unfortunately. I will have to work out my notice period, once served. I personally think the new role is crazy as it includes too much and is unsustainable in the long term so no way would I want it.
  • getmore4lessgetmore4less Forumite
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    you said the 3rd person was on notice...

    this workload issue is something that should be part of the consultation that is what it is for.

    in this case it would be wise for the person who end up in the role insisting on a trial so they have a get out if it will not work.

    this also increases the risk they change their minds during the notice period and come up with a new plan
  • SystemSystem Forumite, Community Admin
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    Sorry, yes the third manager is already on notice and it looks like he will be let to leave soon with PILON as he has been an issue for HR for a while.

    Thanks, I will mention the above points in your post in my meeting this week.
  • SystemSystem Forumite, Community Admin
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    I had the second meeting and the salary on offer matches my current salary. They are offering 2 weeks per year of service which I'm guessing is to try and keep people here as long as possible through the notice period.

    The good news for me was that I was shown the matrix and weighting and none of my role features with prominence. The weighting on the other persons role is much higher so I more or less won't have to worry about actually being offered the role.
  • SystemSystem Forumite, Community Admin
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    Just thought I would update as all the details (well almost all) have been finalised.

    I actually asked not to be considered for the alternative role. They did however keep the consultation open all the way through and I was served notice yesterday. I will finish mid Feb with a redundancy payment of £5k. I can possibly negotiate an early exit if I find another role but that would be subject to satisfactory handover. I have been told they would be willing to buy out my remaining annual leave which should give an extra £750 after tax this year and around a similar amount next year. So that gives me around 5.5 months from now to find a new role without being out of pocket and having to dip into my savings and I should hopefully be able to get something by then.

    Thank you for your help so far and no doubt I will be back with more questions soon!
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