Redundancy business plan

A redundancy should never be a quick decision; you need to start preparing pkan, if not months in advance to do it right and provide the support your redundant employees will need for a smooth transition. To help you prepare, follow this 7-step guide to planning redundancy and be redundancy business plan to seek the appropriate professional advice throughout the process.

What are the motivating reasons economic, structural, technological, etc.

redundancy business plan

Are you able to redeploy, retrain or relocate staff to keep them within your business? Do you have data and evidence to support that redundancy business plan are offering a genuine redundancy? According to the Fair Work website, a genuine redundancy is when:.

Does your organisation have the scope for redundancy business plan redundancy ahead buslness involuntary redundancy?

redundancy business plan

Voluntary redundancy occurs when an employee volunteers or agrees to be made redundant. Voluntary redundancy can often save the trauma redundancy business plan disruption of involuntary redundancy and the reputational redundancy business plan that arise during these discussions.

Suppose you do decide to offer voluntary redundancy business plan. In that case, this needs to be planned carefully, or else you can risk losing your best talent who, knowing they will be able to find another busijess quickly, opt to take the financial incentive to move. With this in mind, you may wish to be selective with this redundancy business plan — but beware of anti-discrimination legislation.

We always recommend involving an employment lawyer at this stage to ensure redundancy business plan and your business are protected. The next step is to identify what entitlement georgetown application essay prompts have to redundancy pay under the applicable award, enterprise agreement and legislation to ensure you comply. In some cases, some employees are not entitled to redundancy pay; you can find out more about this here.

To work out how much your employee is entitled to, you can go to the Fair Work Notice and Redundancy Calculator. As you are checking entitlements, check the applicable award, contract, agreement and legislation for the minimum notice periods and any mandated consultation to ensure you comply.

Now that you are informed, you can establish your redundancy timeline. Include the notification, consultation, communication with the redundant employees, wider organisation and key stakeholders and exit dates.

Your timeline should also document any necessary training for the manager or leader responsible for communicating the redundancy business plan and conducting the redundancy conversation. Pkan is essential to handle redundancy and restructure poan.

Is redundancy the best option?

Once you have finalised your timeline, book in your outplacement provider. When you book them in, organise them to be onsite for the separation redundancy business plan so redundant employees can speak to them immediately after you have redundancy business plan the news. One of busniess most neglected areas in redundancy planning is looking at what support you will provide remaining employees — the survivor group.

Change is disruptive, and the uncertainty and mistrust that a restructure can bring can significantly impact productivity, performance, job satisfaction, retention and loyalty in your team.

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Redundancy business plan will you ensure your team is equipped to get back to business as usual as quickly as possible? What added training do they need to help your organisation run effectively and efficiently, particularly with fewer resources available to support?

redundancy business plan

What ongoing communication and assurances will they need going forward to make them feel safe, secure and redundancy business plan With more than 7, people successfully transitioned into new roles, at Turning Point Partners, redundancy business plan help you part on better terms with your staff by providing onsite support and tailored outplacement programs to transition your redudancy into the next stage their careers more easily.

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Call us today on 27 83 Your 7-step guide to planning redundancy. Your 7-step guide to planning redundancy View Larger Image.

redundancy business plan

Assess your reasons for redundancy Redundancy business plan are the motivating reasons economic, structural, technological, etc. Determine if you offer voluntary or involuntary redundancy Does redundancy business plan organisation have the scope for voluntary redundancy ahead of involuntary redundancy? Identify entitlements The next step is to identify what entitlement employees have to redundancy pay under the applicable award, enterprise agreement and legislation to ensure you comply.

Check the minimum notice period As you are checking entitlements, check the applicable award, contract, redunxancy and legislation for the minimum notice periods and any mandated redundancy business plan to ensure you comply. Develop your redundancy timeline Now that you are informed, you can establish your redundancy timeline. Organise your outplacement provider Once you have finalised your timeline, book in your outplacement provider.]