The right approach to redundancies
Are you currently taking a fresh look at cost controls, realigning priorities and even restructuring the business you’ve worked so hard to develop?
For some, this may be an opportunity to streamline and reenergise, focussing on the future with key employees that will help you rebuild. For others, this will be a heart-rending time of being forced to lose team members that are almost like family.
Whichever the angle, redundancies never come without stress, expense and risk, so you need to prepare, and compare the implications of an immediate outlay against ongoing future wage costs.
Ensure you follow the correct legal process. You can turn to resources such as ACAS for guidance. However, because of complexities, it’s often more beneficial to get specific professional support.
If you get it wrong, there can be a serious impact to your bank balance and reputation. Skipping steps can lead to costly unfair dismissal claims.
Consider how well you are managing the process. The impact of this, particularly if located in a community, can be significant. If you treat people fairly and properly this will be remembered, but if you don’t, it will be talked about and potentially even posted over social media.
So communicate well with employees, aim not to leave room for assumptions and misconceptions. Take care over the language used and avoid false promises. Finally, reassure your remaining staff.
Embrace HR will guide you through every step of the process, assisting you to treat workers fairly and with dignity, and enabling you to protect your business at a time when it’s more crucial than ever.