, my name is ***** ***** it is my pleasure to assist you with your question today.
What would your ideal outcome be in this situation?
Given the financial status of the firm, to move on asap but securing my notice period salary.
Is the 3 month notice period applicable both ways?
its a 6 figure salary hence my question
As the notice period is the same both ways, then whether you resign or get dismissed you will get the same amount notice period. As you do not have 2 years’ service with the company you will not get any redundancy pay so there is no additional benefit in waiting , rather than resigning now. So it is really up to you – would you rather continue getting paid until a point where they eventually decide to dismiss you, or would you rather walk away now? The only issue I see with hanging on is that if the company begins to struggle financially to a point where they can’t afford to pay their employees any longer, they could fold and not pay you the notice period you are due. So if you think that the sooner you leave the better chances of getting paid are then you may as well leave now to reduce the risk of not getting paid.
Great, so there is no security with redundancy if the money runs out?
the Government will cover some of the money you are wed but not the full amount, they will only cover a week's notice, not the 3 months you have under contract
and that week will be capped anyway
So you will not get your usual wages , it will be an amount capped by law, I think around £400 or so
gosh, ok, good clear advise Ben. Sooner the better!!
yes it appears that if the likelihood is that money will run out, then you may be best advised to get out sooner rather than later, even ask them to consider paying you in lieu of notice so you get the full sum at one
i shall, many thanks Ben
you are welcome, all the best