I’m writing this blog based on the news that bet365 are relocating their office to Malta which will mean for many … redundancy. It will also no doubt instil ‘uncertainty’ to many other employees working at local competitors.
Redundancy brings a catalogue of emotions, a whirlwind of communications and will no doubt increase your stress levels. Before I offer tips of maintaining a balanced mind set even a positive one, to the news of being made redundant here is some essential info:
What is redundancy?
Redundancy is the state of being no longer in employment because there is no more work available.
What are my rights as a Gibraltar employee?
You are entitled to see your companies redundancy policy and review your contract to ensure you know what to expect and that you are treated fairly.
- Redundancy pay is only paid to employees who have completed 1 year or more service
- Redundancy pay:
(a) 2 weeks’ pay for each of the first 5 completed years of service
(b) 3 weeks’ pay for each of the next 5 completed years of service
(c) 4 weeks’ pay for each additional completed year
(d) 2 weeks’ pay for employees’ aged 41 years and over, for each completed year of service after the age of 40
- Maximum redundancy pay is 1 year pay
- Collective redundancy (where 5 or more people are made redundant) will initiate consultation period having a maximum 90 day period
Tips for staying positive during a redundancy:
- Accept that the redundancy is not personal this is paramount in being able to focus positively.
- Understand your finances and how long your money will last.
- Get support – talk to family, friends and co-workers and us here at Grasp Ltd
- Enjoy some time to do the things you like to do – there is no need to panic
- Look for work – remembering that money and benefits isn’t all happiness, really understand the culture of where you will apply to make sure you fit in.
- Let everyone know you are on the market – add a fanfare or do the cancan to be seen and heard! Be you, employers always seek genuine people.
In a bid to support you personally, mentally and emotionally Grasp Ltd are offering group sessions for jobs seekers – let’s revamp your CV, source job leads and prepare you for that all important interview. Book now by email email@example.com and let us help you find your next role.