Have a big meeting with the big boss at work next week. Know that there is too be a difficult discussion. Workload has been dropping off at work and I have been building a nice sideline outside of work which is nearly 30 hours per week now and paying me ‘nice bike’ money.

I have a huge amount of enjoyment for the sideline and little love for my day job but day job does pay well.

Am on 3 months notice but know they will ask me to work it. Should I drag out the redundancy thing and attempt to extract money from them ? or just quit and get on with the work I have and divert money from new bike to paying the bills and hungry mouths I have to feed.

I’d stick with it unless it was getting me down and bank as much as poss. in preparation for self employment.

Cling on brother!

Work out how much redundancy pay you will get (are you on statutory or a better package?) and decide if that bunch of cash is worth 3 months of your life…

It’s essentially free money, so I’d say it’s worth taking it.

Also, and I’m not sure if it’s relevant here, but you won’t be eligible for any unemployment benefits if you quit voluntarily.

Take em for what ever you can, you never know they might let you go early if the works dries up, but if the redundancy process has started they are obliged to pay you till the end of it.

Take the redundancy,

Assuming you’ve got a few years service their you could offer to go the same day if you like – if there is genuinely no work for you they’ll jump at it, that’s what I did in 2009 – although they’d been trying to manage me out for 5 months so I was glad of it.

So you walk with a bit of a tax-free goodbye to the tune of a weeks wages per years service or whathaveyou.

Wise advice above, if you have made it this far with the job as well as the sideline. Keep working your notice and see the redundancy cash as an investment in your new venture. They may let you leave early which would be good and most likely (unless you have a value another company), they may ask you for some help in the future which could be useful (you never know). Stay professional as it invokes good karma (a valuable resource I’ve found).

Best of luck to you.

If redundancy is looming, sit and wait for it. I got 3 months pay out, plus once they’d decided who was going they just kicked us out rather than have non productive staff sit notice, so got pay up to end of month, and they paid outstanding holiday.

On top of that it was a company buy out and I had shares in the company so profited there.

Set me up for contracting 😀

p.s. remember, redundancy pay is tax free essentially (unless it’s over £30k). Pay in lieu of notice, holidays etc is not though.

only tax free up to £30k I’m sure.

Say you’re talking to a competitor about a role HEY PRESTO! gardening leave

only tax free up to £30k I’m sure.

For 3 months redundancy pay he’ll do well to get that much! Stick it out. It’s only 3 months for a tax free wedge.

Stick it out and get the redundancy. Once you know you’re definitely going it’ll give you a different perspective on work. And you can’t take on anything obviously as you’re not there for long and all your time will be taken on up on “hand over” activities 🙂

Depends on the company IMHO for example i work for a “third sector not for profit charity” so I would probably walk if I didn’t need the money

Global corporatist bastards then I would milk them for all they are worth and some more.

Somewhere in between a nice severance deal where you get paid for not working to help you set up the business.

YMMV

Thanks for all the advice Guys, guess I knew it was coming and was just going thro the motions to milk as much out of it as possible. Had not thought that redundancy was tax free so am going to hang on as much as I can and build up the new business alongside. Am used to the long hours so its not an issue.

New business is in totally different area / sector and I plan on taking my time before I start to complete with them to avoid any issues with anti compete clauses.

Cheers all, I feel vindicated with my decision.

It’s essentially free money, so I’d say it’s worth taking it.

This – and it lasts a lot longer than you think!