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Loyalty bonus

hooty mcboob · 2006-08-10 17:25:53

Hi, I recently found out that I will be made redundant in a few months as the company I work for will cease to operate. I work in middle management in a small dept of a very large organisation. I can take voluntary redundancy and leave now, or I can stay until the dept closes and be rewarded with a loyalty bonus on top of…

10-08-2006 5:25pm

#1

hooty mcboob

Closed Accounts Posts: 5 ✭

Join Date: August 2006

Posts: 3

Hi,

I recently found out that I will be made redundant in a few months as the company I work for will cease to operate. I work in middle management in a small dept of a very large organisation. I can take voluntary redundancy and leave now, or I can stay until the dept closes and be rewarded with a loyalty bonus on top of the redundancy. Which all sounds nice and dandy except the amount they are offering for the amount of hassle I will get is a pittance. I have been told by many colleagues that they really need me to stay to help wind things up (and without blowing my own trumpet, I know there is nobody who can learn what I do and replace me for that period of time, at this short notice). My problem is, how do I negotiate for a fair and reasonable bonus at the end of this? Let me add, the redundancy package is 4 weeks pay per year of service, better than statutory but not that brilliant imo. I think they should up that to 6 weeks pay per year for starters, as this would seem to be the norm in office jobs I think (correct me if I'm wrong).

What criteria would you use to calculate the loyalty bonus? I am thinking a) potential earnings elsewhere and b) successful completion of certain tasks needs to be considered. Any thoughts, anyone been through this?

Thanks

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