What does voluntary redundancy mean?

voluntary redundancy

Voluntary redundancy is when an employer gives employees the choice to leave their job with redundancy benefits, and the employee agrees to it.

In voluntary redundancy, employers propose a redundancy package to their employees who can then choose to accept it and leave the job. This package often includes financial benefits and is offered in situations like business restructuring or downsizing. The employee's acceptance is voluntary, meaning they have the choice to stay or leave under the proposed terms.

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Other glossary terms

ordinary hours

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Ordinary hours are the regular, agreed-upon hours an employee works, excluding overtime. This typically involves a set number of hours per day or per week.

adverse action

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Adverse action is when an employer, employee, contractor, or industrial group does something that might be illegal, depending on why they did it.

mediation

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Mediation is a confidential and voluntary process where an impartial mediator assists parties in resolving their workplace disputes through negotiation.

Fair Entitlements Guarantee

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Fair Entitlements Guarantee (FEG) is a government program providing financial assistance to employees who lose their jobs due to the employer's bankruptcy.