planning for the future
As the Coronavirus outbreak passes its peak, it’s important that businesses start planning for the future. Depending on your financial position and how quickly you believe you will recover from this crisis, this plan could look very different from business to business. Whatever your position, planning for the future needs to start now.
What will the future look like?
Depending on which report you read, it could take between 1 and 3 years to recover the economy to 2019 levels. However, it’s unlikely that we will return to the past ways of working. How will things change? We’ve created a blog on the subject which may give you some food for thought.
Exiting the furlough scheme
If you have placed your staff on furlough, then you will need to write to them to end their furloughed status. Once you have done this, your employees will automatically return to their contractual pay. At the time of writing, this will need to happen no later than 30th June 2020 (unless the Government further extends the scheme). But what do you do if you can’t afford to retain your staff?
Making employees redundant
It is possible to make employees redundant whilst they are on furlough providing you follow existing employment law. Click here for further information on how to do this legally. If you are planning for the future and this involves redundancies, then you can keep the employees on furlough during their notice period but you cannot part pay severance payments using the furlough scheme.
Perhaps your planning for the future will necessitate making changes to your organisation. This may mean ways of working, introducing more automation or changing roles to make them more efficient. We have the experience you need to ensure that this change is a successful one.
If your planning for the future exercise results in the need to recruit, we provide a cost-effective recruitment solution. For just £2,500 + VAT, we can manage the end to end process for you. Click here for more information about our HR support packages.
Contact us for HR support
If you need help planning for the future, contact us today! We have the HR skills and epertise to help you whatever your future looks like. Call Nicci on 07908 875146 or Rob on 07494 161169 for a consultation. Alternatively, click the below button to email the office.