ICAEW redundancy hub: resources for people and businesses
1 June 2020: the economic fallout of the COVID-19 pandemic will leave many businesses making hard decisions and considering redundancies. ICAEW’s new collection of resources aims to help those affected.
When considering redundancies, it is important to look at all of the options available. GOV.UK is keen to stress the other options that should be looked at before redundancies. Should redundancies be necessary, employers should follow the correct legal process and individuals should know their rights.
Communication is the most important factor throughout. These are not easy conversations, but sensitive handling is key. Resources from Acas and CIPD explore the legislation and offer guidance on handling these difficult conversations, along with the rights of individuals. Employers and individuals need to be mindful of the process and the legislation, but also just as importantly the support available to both parties.
Wellbeing, upskilling and job-hunting support is key for individuals and we would encourage all employers to share information on these areas to affected individuals.
- CABA offers advice and support for individuals including legal and financial guidance as well as mental health help
- ICAEW Jobs, available exclusively to ICAEW members lists roles and resources for job seekers.
Some of the resources available for employers include:
- Template redundancy letters and agreements
- Legal alerts
- Accounting for termination payments and taxing redundancy payments guidance.
Find help, advice and resources on ICAEW’s new redundancy support for employers and individuals hub.