Furlough and the £1000 Job Retention bonus

Thrugelmir

Waxy666 said:

Galloglass said:

As I remember the minimum you need to pay each month to these staff is £521**. So (3 x £521) - £1000. Essentially you can get 3 months [minimal] work for the price of 1. 

** Must be at least NMW though

 A £1k bonus isn't going to change the fact there is no work to be done.

If there's fewer employers then there'll be fewer opportunities. The £1k could be used to provide a bonus to employees who asked to take an immediate pay cut. 

Grumpy_chap

jmb1 said:

sharpe106 said:

It will cost you more in wages then what you will get back, so fairly pointless. You can either afford to have the person back or you can't the extra £1000 will make no difference. 

Not quite sure I follow your logic there. I take the staff back, have them work for 3 months (instead of what has been just me working doubly hard to do two jobs), I have to pay them, but I do at least have £1000 to put toward their salary I've been paying for those 3 months. Or am I wrong?

If you are already back to busy and you are working "doubly hard to do two jobs", why don't you bring your other employee back now to share the load and avoid burnout?  If there is not enough to bring the employee back full time, the flexible furlough allows you to take a staged approach - it does not have to be "all or nothing" hours.  As well as lightening your current "two jobs" burden, it will allow you to develop the business more for the future and probably give your employee increased peace-of-mind that they do actually have a job to return to.  What I call "winning all round".

unholyangel

Galloglass said:

As I remember the minimum you need to pay each month to these staff is £521**. So (3 x £521) - £1000. Essentially you can get 3 months [minimal] work for the price of 1. 

** Must be at least NMW though

Dont forget holiday accrual during those 3 months. 

Galloglass

unholyangel said:

Galloglass said:

As I remember the minimum you need to pay each month to these staff is £521**. So (3 x £521) - £1000. Essentially you can get 3 months [minimal] work for the price of 1. 

** Must be at least NMW though

Dont forget holiday accrual during those 3 months. 

Yes - and the possibility of staff gaining additional protection by being employed for 2 years.

Would seem ideal for those businesses who rely on Xmas spend so perhaps there will be a few more Santa Claus in employment over the period. Rishi is a shoe-in as he's already doing that job.

sharpe106

Galloglass said:

unholyangel said:

Would seem ideal for those businesses who rely on Xmas spend so perhaps there will be a few more Santa Claus in employment over the period. Rishi is a shoe-in as he's already doing that job.

Think he has his eye on another job.