• HOME
  • TECH
  • WORLD
  • US
  • MISCELLANEOUS
  • FINANCE
  • CULTURE
  • SPORT
  • Contact Us
Thursday, March 4, 2021,
Along the Boards
  • HOME
  • FINANCE
  • SPORT
  • CULTURE
  • ENTERTAINMENT
  • TECH
    • GAMING
  • MISCELLANEOUS
  • CONTACT
No Result
View All Result
  • HOME
  • FINANCE
  • SPORT
  • CULTURE
  • ENTERTAINMENT
  • TECH
    • GAMING
  • MISCELLANEOUS
  • CONTACT
No Result
View All Result
Along the Boards
No Result
View All Result
Home BUSINESS

How To Decide If You’re Entitled To Separation Pay

Lana Vrz by Lana Vrz
2021/01/15 | 3:25 pm
in BUSINESS
4 min read
0
How To Decide If You’re Entitled To Separation Pay

Most people work for money. No matter how much you may love your job, the money you earn is essential to supporting your lifestyle. Of course, money is not the only factor in job satisfaction. However, it is an essential factor when your job is being terminated.

That’s why you need to know what separation pay is and whether you’re entitled to it.

Source: Legit Gambling Sites

Separation Pay

Separation pay s commonly referred to as redundancy pay. It is a payment made to an employee when the job they do is no longer available. There are many reasons why a job may become extinct, these include a downturn in profits, an increase in automated processes, or even a company restructuring.

Whatever the reason, if the company tells you that your services will no longer be required and you haven’t done anything wrong, you’ll be entitled to separation pay.

This pay is on top of your final wage. Your wages will be calculated in the normal fashion, according to what hours you have worked or your salary. Separation pay is on top of this.

By law, you’re entitled to be paid the equivalent of one month’s pay for every year you’ve worked with the company. It should be noted that this is a minimum amount. You may be entitled to more, depending on your contract.

You should note that you are not eligible for separation pay if you have worked for a company for less than one year. In addition, employers with less than 15 employees do not have to offer a severance package.

It’s also possible that your separation pay will be forfeited if your employer offers a different position with the same terms of employment and you reject it.

Finally, if you’re older than 45 and have worked for your employer for at least two years, you’ll be entitled to an extra week’s worth of pay.

Don’t forget, you’re not entitled to separation pay if you quit, it’s only when the employer needs to let you go.

Source: Medium

What To Do If Notified Of A Job Loss

The first step is to speak to dedicated employment lawyers Melbourne like jhel.com.au. They will assess your contract for you and confirm the separation pay you should be receiving.

They can also ensure that due process is followed, you need to be given notice and you must be entitled to attend interviews and other meetings during that period to help you locate a new job.

You should also evaluate the reasons why you are being terminated. A business cannot end your contract on the basis that restructuring has made your job obsolete, then employ someone else in a very similar role.

If you suspect that this is the case then the employment lawyers will help you assess the situation, gather the appropriate evidence, and deal with your employer for you. If they have terminated you unfairly you’ll be entitled to additional compensation.

The purpose of separation pay is to help you continue living and paying bills while you locate a new job. A company can only eliminate your job because the role is no longer needed. Any other reason could get the business in trouble and gain you a compensatory payment.

Providing the reason for terminating your contract is not disciplinary related, you are automatically entitled to separation pay. This should be paid, with a full breakdown of what is being paid, at the same time as your final wage.

Any employer that doesn’t follow the proper procedure will be in breach of contract, even if the termination is fair. Again, it’s worth discussing it all with an employment lawyer to ensure you are receiving everything you’re entitled to.

Source IMPACT Group

What To Do If You Think There Has Been Foul Play

It’s a fact of business that employees need to be laid off. Providing this is done for the right reasons and due process is followed, there is little an employee can do about it.

However, you should read your employee manual and familiarize yourself with the redundancy procedure. Your employer must follow this procedure, if they don’t they are in breach of contract and you can claim for unfair dismissal.

Equally, if an employer takes someone else on to do your role or a very similar role, they are likely to be in breach of contract. The simple truth is they have got rid of you to save money.

The most important part of this process is speaking to an employment lawyer who specializes in helping employees. They’ll be able to verify if everything is above board and what steps you should take next. It’s essential you get expert advice before querying any payment or offer.

It is possible to negotiate your final separation figure, the employer can agree to pay you more.

Source: Inside Salarium Blog – Salarium

Moving On

When you’ve worked for a business for an extended period of time a redundancy, or separation payment, can seem like a large sum of money. You’ll usually get the entire sum within 7 days of your last working day. This figure will include your normal monthly wage, any holiday accrued, and other benefits according to your contract. The separation pay can be included in the same payment or done separately. However, it must be paid within the designated timescale, as per your contract.

At this point, the key is to calculate your monthly expenses and work out how long the money will last. You don’t know how long it will take you to find a new job. The time to splurge or invest your separation funds is after you’ve secured and started your new job.

You should also consider minimizing your expenses wherever possible, this will help your funds to go further.

Getting Help

Finally, you should be aware that being made redundant has a serious emotional impact. You need to talk to a family member, friend, or professional. This will prevent the feelings from being bottled up, potentially resulting in depression.

Getting help and support is not a sign of weakness, it’s about doing what’s best for you and your future.

Tags: BusinessJob LossMoneySeparation Pay
Previous Post

6 Reasons To Outsource Chat Support Services

Next Post

Is Unlocking Your Samsung Galaxy S7 Phone Safe?

Lana Vrz

Lana Vrz

Related Posts

Cheap Managed VPS With cPanel To Help Your Business
TECH

Cheap Managed VPS With cPanel To Help Your Business

by Lana Vrz
February 28, 2021
10 Benefits of Explainer Videos for Your Business
BUSINESS

10 Benefits of Explainer Videos for Your Business

by Lana Vrz
February 1, 2021
3 Ways a Company Can Use a Business Line of Credit
BUSINESS

3 Ways a Company Can Use a Business Line of Credit

by Virginia Carrillo
January 29, 2021
6 Reasons Your Business Needs To Hire a Digital Marketing Consultant
BUSINESS

6 Reasons Your Business Needs To Hire a Digital Marketing Consultant

by Pepe Harris
December 24, 2020
5 Things That New Investors Should Learn About Stock Charts
BUSINESS

5 Things That New Investors Should Learn About Stock Charts

by Lana Vrz
December 20, 2020
Tips for Choosing the Right Time to Buy Bitcoins
BUSINESS

Tips for Choosing the Right Time to Buy Bitcoins

by Pepe Harris
December 4, 2020
6 Tips to Achieve Financial Security in 2020
FINANCE

6 Tips to Achieve Financial Security in 2020

by Shannon Woodward
November 26, 2020
Santan Company Owner Aleksandr Palamarchuk: “Competent Management, Team of Professional S and Correct Investment Are the Key to a Successful Business”
BUSINESS

Santan Company Owner Aleksandr Palamarchuk: “Competent Management, Team of Professional S and Correct Investment Are the Key to a Successful Business”

by Pepe Harris
November 26, 2020 - Updated on November 29, 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Categories

  • ACCESSORIES
  • ANIMALS
  • BETTING
  • BUSINESS
  • CARS
  • CASINO
  • CBD
  • CELEBS
  • CHILDREN
  • Cooking
  • COVID 19
  • COVID-19
  • CULTURE
  • EDUCATION
  • ENTERTAINMENT
  • FINANCE
  • FOOD
  • FURNITURE
  • GAMES
  • GAMING
  • GIFT
  • HEALTH
  • HOBBY
  • HOME
  • HOW TO…
  • INDUSTRY
  • LAW
  • MARKETING
  • MIND & BODY
  • MISCELLANEOUS
  • MOTORCYCLE
  • MOVIES
  • MUSIC
  • NET WORTH
  • NEWS
  • RELATIONSHIPS
  • SPORT
  • STYLE
  • TECH
  • TIPS & TRICKS
  • TRAVEL
  • TRUCK
  • US
  • WORLD

Recent Posts

  • 5 Tips On How To Buy A Home
  • Tips For Writing An Argumentative College Essay
  • Ultimate Guilt-Free Comfort Food – Why Everyone Should Learn to Cook Ramen
  • Cheap Managed VPS With cPanel To Help Your Business
  • Top 5 Free Dropshipping Suppliers in 2021

Recent News

Standard VS Extended Title Insurance – 2021 Comparison Guide

5 Tips On How To Buy A Home

March 4, 2021
Tips For Writing An Argumentative College Essay

Tips For Writing An Argumentative College Essay

March 1, 2021

Categories

  • ACCESSORIES
  • ANIMALS
  • BETTING
  • BUSINESS
  • CARS
  • CASINO
  • CBD
  • CELEBS
  • CHILDREN
  • Cooking
  • COVID 19
  • COVID-19
  • CULTURE
  • EDUCATION
  • ENTERTAINMENT
  • FINANCE
  • FOOD
  • FURNITURE
  • GAMES
  • GAMING
  • GIFT
  • HEALTH
  • HOBBY
  • HOME
  • HOW TO…
  • INDUSTRY
  • LAW
  • MARKETING
  • MIND & BODY
  • MISCELLANEOUS
  • MOTORCYCLE
  • MOVIES
  • MUSIC
  • NET WORTH
  • NEWS
  • RELATIONSHIPS
  • SPORT
  • STYLE
  • TECH
  • TIPS & TRICKS
  • TRAVEL
  • TRUCK
  • US
  • WORLD
No Result
View All Result

Contact Us

Feel free to contact us at:

sinisavuk [at] opptrends.com

© 2020 Alongtheboards

No Result
View All Result
  • HOME
  • TECH
  • WORLD
  • US
  • MISCELLANEOUS
  • FINANCE
  • CULTURE
  • SPORT
  • Contact Us

© 2020 Alongtheboards

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.