As the government’s Coronavirus Job Retention Scheme winds down, you will be thinking about your next steps in terms of whether you are able to bring back staff, or whether you could be faced with the difficult decision to make some of your workforce redundant.
The Job Retention Bonus Scheme has been introduced to reward and incentivise employers to keep on any staff who have been furloughed over the past few months. It’s important that furloughed staff are supported back to work, to prevent their skills from fading and to ensure that they maintain strong employment relationships.
The scheme has also been introduced to reduce the risk of redundancies and unemployment.
For every furloughed employee that you bring back, you will receive a one-off payment of £1000.
To receive the £1000 payment per employee, you must meet the following criteria:
All businesses based in the UK are eligible if they have furloughed staff, regardless of the industry or size of the organisation.
Payments will be made from February 2021 onwards.
At this time, there is no cap on how many employees you can keep on – this is to reward businesses for retaining as many members of staff as possible, and for preventing redundancies and unemployment.
The furlough scheme will wind down flexibly over the coming months, officially ending in October.