The UK is facing its worse depression ever, indeed we may already be in it.
In the aftermath of the 2008 financial crash some 50 businesses closed every day. Unemployment rose from the underlying 5% region to 7.6% in 2009, peaking 2 years later at 8.1%.
The coronavirus slump looks to be far worse, redundancies look inevitable
In April 2020, alone, the number of people claiming unemployment benefit rose by 856,500. This compares with a total increase of just 50,000 for the 3 months to end of March. Some forecasts suggest that job losses could exceed the 3.5million seen during summer of the Great Depression in 1932, more worrying some forecasts suggest total job losses could exceed 6 million or 21% of the workforce.
In the long term the country will survive, the country survive the great depression, it survived the Second World War, it survived the 12% unemployment peak of the early 80s
BUT in the short term, cut backs, short time working and redundancies are probable for all. Even those working in boom industries such as the funeral business need to plan ahead for a down turn in deaths.
This means all employers, their HR teams and employee representatives need to ensure that they understand the rules, regulations and best practice relating to lay-offs, short term working and redundancies.
Concrew Trainings one-day courses run on your premises and help senior managers, HR teams and employee/union reps understand the rules, best practice and how to apply them.
Links to Example Course Overviews below:
We are accepting advance bookings now with the option to reschedule if social distancing rules return.