What does being at risk of redundancy mean?

What does being at risk of redundancy mean?

What it Means to be at Risk of Redundancy. If there is a risk you could be made redundant your employer will often place you on what is known as ‘at risk of redundancy’. Normally if your employer makes you ‘at risk’ it is a good sign because it means they are looking for a solution and do not want to make you redundant …

Does redundancy affect credit score?

Losing your job won’t have an impact on your credit score because your income doesn’t appear on your credit report. You may also struggle to apply for credit if you are made redundant as the lender may ask for details of your income as part of your application.

What does it mean to be at risk of redundancy?

What does it really mean? If you’ve ever been faced with the predicament of losing your job, then the phrase “at risk” can send shivers down your spine. The longer phrase being “at risk of redundancy”, meaning that your role within the company has been identified as one which may not be needed in very near future.

How do I get my redundancy pay when I leave the company?

You’ll receive your redundancy pay in the same way you receive your salary Your employer should pay your redundancy on the date that you leave the company or your next normal pay date. It will usually be paid into your bank account. Your employer should also provide you with a written document explaining how your redundancy payment was calculated.

Can a selection criteria be used to make redundant?

You can use selection criteria to help decide who to make redundant within this pool, but this must be fair and not discriminate against those with a protected characteristic, such as race, gender, age etc.

When to make a claim for statutory redundancy?

Generally speaking, you have six months in which to issue a claim for an outstanding statutory redundancy payment, although it will be preferable to start proceedings as soon as possible. Before issuing a claim, you first need to go through ACAS Early Conciliation. It will see if your employer will resolve the dispute without going to a tribunal.

How do we decide who to put at risk of redundancy?

The next formal stage is for a redundancy pool to be formed which is a group of employees from which redundant staff will be selected. Each pool usually includes employees at risk of redundancy who currently perform the same or similar roles or will do so after the redundancy procedure, if not made redundant.

Can you be made redundant while on the furlough scheme?

Your employer should still carry out a fair redundancy process. You will be entitled to be consulted on the redundancy lay-off first and to receive a statutory redundancy payment, as long as you’ve been working somewhere for at least two years.

What happens if you refuse an offer of redundancy?

However, this doesn’t necessarily mean that you will be made redundant. In some cases, your employer may try to redeploy you somewhere else. You do have the right to refuse an offer of alternative employment. However, if you unreasonably refuse an offer of suitable alternative employment, it could mean you miss out on your statutory redundancy pay.

Do you need to have a redundancy meeting with your employer?

Unfortunately, if you’ve been working for the company for less than two years then you have fewer rights than those who have been working for the firm for longer. Your employer doesn’t need to give you a redundancy process and isn’t required to have an individual meeting with you either.