Retrenchment Service Suite
Financial, legal and tax matters naturally overlap and are interwoven by cross-cutting concerns. When you deal with multiple disconnected service providers, you risk missing compliance issues, particularly in the case of retrenchment policies and procedures. Global Business Solutions in partnership with Tax Consulting South Africa have removed these prohibitive silos with a seamless, cooperative set of services to deliver maximum value to your business. This integrated service suite is energised by our professionally qualified, multidisciplinary team of labour law, remuneration and tax specialists. Thus, ensuring you remain fully compliant with statutory requirements laid out by fiscal and labour law. All of our offerings take due care to preserve client confidentiality and protect sensitive information.
Today’s South African organisation finds itself entrenched in difficult and uncertain market conditions resorting to cost-saving solutions such as retrenchment, down-scaling and redundancy. We conduct a thorough analysis of a company’s overall circumstances to determine if retrenchment is a viable option; whilst keeping the best interests of the business in mind, both from a financial and human resources perspective.
Employers have regularly been reminded of the factors that render retrenchments fair and unfair. Despite this, employers continue to get it wrong and, in many cases they land up paying a very heavy price. We review existing retrenchment policies and provide feedback and recommendations to optimise policy to be inline with the new Labour Law Legislation.
We calculate and compile adequate and legally correct retrenchment packages based on an employee’s length of service, skills and experience, attendance records or efficiency in performing the job and personal circumstances (e.g. family responsibilities).
COMMUNICATING RETRENCHMENT DECISIONS
Good communication is absolutely critical in the planning and implementation of retrenchments. We conduct the retrenchment exercise in a sensitive manner by carefully selecting, unbiased, accurate and objective criteria and presenting it in a transparent manner. We also manage all outcomes of the retrenchment process with the necessary compassion.
In the aftermath of retrenchments, employers with limited budgets must help stressed workers reignite their commitment and productivity. They can start by offering flexible benefits to give staff a sense of control and emphasise this control by regularly issuing benefits statements or providing training on benefits management.
We also offer recruitment services to assist those who end in the unfortunate event of being retrenced by utilising our established corporate network to place them in roles best suited to their experience and work-culture fit. Therefore, offering peace of mind to both employer and employee.