Facing redundancy can feel like being benched during the big match, but knowing your employment rights and having a game plan can keep you in the running. Ferox Partners is here to coach you through the process with strategies for tackling redundancy, securing your next role, and explaining your career shifts on your CV.
What Are Your Contractual Responsibilities in the Redundancy Game?
Know Your Notice Period: Understanding the Rules of Play
Just like in sports, the rules of the game matter. When it comes to redundancy notice periods, your contract is your playbook, and its terms take precedence over statutory guidelines. Review your contract carefully to understand how long you’ll be in the game before moving to the sidelines.Typically, statutory notice periods look like this:
- One week’s notice for service between one month and two years.
- One week of notice per year of service (up to 12 weeks) for two to 12 years of employment.
- A maximum of 12 weeks’ notice for 12 years or more of service.
Some contracts stick to this formula, but others call for longer notice periods. It’s essential to check your agreement to know how long you’ll be playing before the final whistle.Do You Have to Stay in the Game?
The short answer is yes. If you’re contractually obligated to play out your notice period, breaching this could result in penalties. However, many teams (employers) may offer alternatives, such as paying you in lieu of notice or allowing you time to train (job hunt) for your next match. It’s worth negotiating these terms if you need time to prepare for the next season.
Redundancy Pay: Understanding Your Prize MoneyJust like a tournament’s prize structure, redundancy pay can come in two forms: statutory or contractual. If you’ve been in the game for two years or more, you’re entitled to statutory redundancy pay, regardless of whether you were a starter or a benchwarmer (full-time or part-time employee).Statutory pay is based on your age and years of service:
- One week’s pay per year if you’re between 22 and 40 years old.
- Payments are capped at 20 years of service and calculated based on your weekly average earnings over the 12 weeks leading up to your redundancy.
Contractual redundancy pay can provide additional incentives for players not covered by statutory rules. Check your contract to see if your team offers anything extra.
Playing for the Opposition: Watch for FoulsIs the opposition (a competitor) recruiting? Before you sign a new deal, check your contract for restrictions. Some playbooks include clauses that prevent you from joining competing teams in your local league, poaching customers, or starting your own team in the same area.If your contract has a grace period (garden leave), you may have to wait on the bench before suiting up for the opposition. These periods rarely exceed six months. If no restrictions are outlined, you’re free to sign with any team.
How to Stay Match-Ready: Practical TipsActive and Passive Job Searches
UK workers are proactively preparing for their next match. A quarter of professionals are actively looking for a new role while still employed, while 42% are passively exploring opportunities through informal interviews and networking.If you’ve been with your current team for two years or more, you’re entitled to time off for job hunting or training. This ‘training camp’ time is unpaid, so check your contract to understand how it affects your finances.Make a Financial Game Plan
Before diving into your job search, create a budget. Treat this like analysing your team’s resources—know your income, expenses, and where you might need to cut back. Financial planning ensures you’ll have enough to stay in the game until you sign your next contract.Boost Your CV’s Performance Stats
Many professionals anticipating redundancy are investing in their careers by taking on ‘side projects’ to build skills and grow their networks. Additionally, 41% of workers are upskilling independently to improve their value on the open market.Consider training, certifications, or projects that align with the technical skills most in demand for your role. These efforts not only enhance your CV but also show future employers that you’re match-fit and ready to contribute.
Framing Your Redundancy: How to Stay in the GameFilling Gaps in Your Career Playbook
Time away from the field doesn’t have to look like inactivity. Use this opportunity to demonstrate growth by:
- Learning new, in-demand skills to improve your performance.
- Mentoring upcoming talent, showcasing your leadership abilities.
- Volunteering, which benefits both your community and your CV.
Explaining Redundancy in Job Interviews
When asked about your redundancy, keep the conversation professional and focused on your growth mindset. Explain that your previous role ended due to organisational changes and emphasize how you’re using this opportunity to strengthen your game. Turn the conversation into a showcase of your adaptability and readiness to contribute to your next team.
By following this playbook, you’ll be prepared to tackle redundancy head-on and secure your next victory in the career arena. Ferox Partners is here to help you navigate the field, so you can keep your career moving toward success.
