3 Options to consider before redundancy
Redundancy can be a difficult process to navigate for any organisation and the cost both to your business and your people cannot be underestimated both financially and emotionally.
That’s why it is important for any organisation looking to take such action, to first consider any alternative options. Therefore, we at P²HR have put our heads together and come up with 3 options for you to consider before deciding on making compulsory redundancies.
1. Review salary and hours
It may actually be more convenient for some of your people to take hours and therefore salary cuts – you don’t know unless you ask how many may volunteer to do so.
2. Look at the option of employees buying extra holidays
Companies often offer employees a proportionate reduction in salary if they agree to “buy” extra holiday.
3. Voluntary sabbaticals
Consider whether employees may be interested in taking voluntary sabbaticals, either unpaid or paid at a greatly reduced rate of pay.
Above all, communicate. Speak to your employees about what you may need to do; whilst they may not favour the idea of a salary reduction, they may have other ideas that reduce the need to make compulsory redundancies.
Why take our advice? We’re helping hundreds of HR people and business owners to handle all things HR. We literally do this day in day out! Redundancy doesn’t have to be bitter; it can be a supported decision. We’re here to ensure you follow a fair and legally compliant process and we can also support your outgoing employees with workshops to help them find a new job role (so support with CV writing, job searching and coming to terms with the emotional aspects of job loss).