Voluntary redundancy or look for new job

Hi

During these unprecedented times of COVID-19, would you take a voluntary redundancy if offered or look for new work whilst being employed?

Job is alright and at the moment good office environment.

Should you take a hit for the team or each for their own?

Comments

  • Each for their own.

    You (if applicable your family) comes first.

    If possible take an extended break (while still on pay) to look for another job to establish yourself (if your company will let you). If your old company offers then a voluntary redundancy, if you have gained some footing in the new job, then leave the old job?

    That said (to state the obvious), it might be tough getting a job given the current environment.

  • Depends on your financial situation, if you have a good amount of savings, and you think you can easily get another job, then take it, otherwise if you are close to no savings and need that paycheck, probably best not to.

  • Depends on a number of factors. How big would a redundancy be, how in demand are your skills/is your industry impacted/what's your current financial situation? I'd personally take a voluntary redundancy as my field hasn't been impacted and in fact may have an increased demand.

    As an example, my partner was made redundant at the end of June, and was offered a new job (a much better one) within 2 weeks. So it's a broad generalisation that the current market makes things difficult, and doesn't apply in all circumstances.

    • If you really depend on that paycheck and that the industry I work in is in a very crowded (candidate) market, where you don't really have a unique difference to others, you really shouldn't take it aye. I heard it's generally illegal to be offered voluntary redundancy and it's usually done under the table?

      • If you depend on the regular pay cheque then it's risky, but can depend on the size of the redundancy as well, some companies pay a lot more than legal minimum requirements, and large elements of redundancies can also be tax free. But yes, if it's a crowded candidate market and with little unique differences between candidates then the risk factor goes up.

        Voluntary redundancy isn't illegal, but has to be managed properly by the business, and definitely still needs to meet minimum redundancy payment requirements based on length of service.

  • +6 votes

    I was offered 2 weeks pay or 60% paycut.

    Told them to go (profanity) themselves. This was 5 days before the birth of our second child. Didn't see me wanting to invest any time or effort into a company that would dump you 5 days before taking 4 weeks unpaid leave.

    Am I salty about it? A bit.

    (profanity).

  • I'd take a few months pay to leave early. Why not. Getting paid for nothing is the dream. Two weeks is not much warning though, I'd rather stick to the original deal. What are you being paid? Are you an engineer, a part time line cook, or what?

  • Voluntary redundancy, it is literally free money if you are confident about taking another job. Voluntary redundancies are nothing to be feared, only people who fear it is those that know they don't have any savings or won't be able to find a job that pays the same.

    • Agree. When I was at Qantas, management were too gutless to make compulsory redundancies so it was all voluntary. The confident workers with transferable skills left. A lot of deadwood stayed behind. The smaller the workforce got, the harder it became to cover for the inefficiencies of the deadwood. Down the plughole it all went

      • There was this person who could quit and make twice as much money as a contractor. I asked why they didn't. It seems like every last cent was accounted for and they can't afford to be out of work even for 1 week. The budget included 2 holidays a year. I decided to keep my mouth shut about cutting a holiday and using that as the bridge to go contracting.

        If it was possible to get VR and 6 month - 1 year of salary would be better than having to work during COVID19.

  • Depends on age and other factors. I would not take any redundancy in this climate, unless the redundancy netted me $10,000,000 at least (after tax).

  • I'd take VR in a heartbeat but I've got 13 years service and our payout scheme is very generous and I don't really need another job.

    MY BIL just got made redundant after 3 years and got 10 weeks pay and he really needs to work.

    Personal circumstances always prevail

    • 10 weeks plus notice period ?

      10 weeks seems more than the minimum requirements which is good.

      • It was the bare minimum and they made him work the notice period.

        It was an entity associated with the Catholic Church. They explained why he was redundant and the new business plan actually meant that his role would be busier. He pointed this out to them and they brushed it off.