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    • notsurewhichnametouse
    • By notsurewhichnametouse 8th Aug 18, 1:10 PM
    • 1Posts
    • 0Thanks
    Wait For Voluntary Redundancy Payment vs. Taking New Job Immediately
    • #1
    • 8th Aug 18, 1:10 PM
    Wait For Voluntary Redundancy Payment vs. Taking New Job Immediately 8th Aug 18 at 1:10 PM
    Hi everyone, I'm looking for some advice and blunt/honest opinions please on the following situation:

    • Worked in a manager role for big FTSE 100 employer for 14 years
    • Told in May '18 that over the next few months there would be enhanced voluntary redundancy terms available due to forthcoming changes in employee terms and conditions (pay etc likely to be reduced)
    • At some point over the next 3 or 4 months I am 99% guaranteed to be eligible for a release payment of 13 months salary
    • In the interim period I started looking for and have (quickly) found a new job
    • I'm now torn between 'waiting' for the release payment (and then looking for new employment) - or taking the new job immediately with no release payment
    • Pros - no gap in monthly earnings from one job to the next, new job sounds great (flexible working, a salary increase of 10% vs. what I earn now etc)
    • Cons - I would miss out on a life changing sum of money (c.70k) - especially I am fairly sure I could find a new role quickly (but have been spooked by one or two great people that I have worked with over the last few years having spent ages (up to a year!) finding a new role!)

    If I accept the new job (new company) and then two weeks later my current company push the button on the release payments I would be gutted (70k would be a lot to 'lose'). If I don't accept the job in favour of waiting for the release payment, it could then take several months to come through - if I then get the 70k but it takes a few months to get a new job (and/or I end up in a job I don't really want to keep paying the bills) I will look back and think why the heck didn't I take the job I really wanted.

    I've started to ramble sorry so I'll stop here - I appreciate this is a total 'first world' problem (i.e. 70k or a great new job is a decision most people would love to have to make) - but it's a big one for me and my family so any advice that you've got would be really appreciated.
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    • sangie595
    • By sangie595 8th Aug 18, 4:31 PM
    • 5,083 Posts
    • 8,691 Thanks
    • #2
    • 8th Aug 18, 4:31 PM
    • #2
    • 8th Aug 18, 4:31 PM
    I'd have to say that you and your family would be even more gutted if you didn't get another job (and that's assuming you got the voluntary redundancy agreed anyway). If you have the perfect job landed and ready to go, that's a certainty. Nothing else in this scenario is. So you won't be losing out on 70k. It was never there. If you stay it might never be there either. And how gutted will you be if you stay and don't get it??!!
    • lincroft1710
    • By lincroft1710 8th Aug 18, 5:14 PM
    • 10,899 Posts
    • 9,195 Thanks
    • #3
    • 8th Aug 18, 5:14 PM
    • #3
    • 8th Aug 18, 5:14 PM
    Is not a manager paid to make decisions?

    Surely this decision does not need a lot of thought. You have the offer of a better paying job and continuous employment. The 70K payout could still fail to materialise and even if does, you may fail to find another suitable job in the short term.

    I am certain you know what you have to do, so do it
    • getmore4less
    • By getmore4less 8th Aug 18, 8:17 PM
    • 32,710 Posts
    • 19,694 Thanks
    • #4
    • 8th Aug 18, 8:17 PM
    • #4
    • 8th Aug 18, 8:17 PM
    I knew it was coming and hung on as the job was good anyway so not a problem to stay.

    You don't get a lot of chances to cash in service on good rates.

    Network will give you a good idea of your position in the pecking order on the open market.
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