{"id":69175,"date":"2022-11-02T06:56:00","date_gmt":"2022-11-02T06:56:00","guid":{"rendered":"https:\/\/arielle.com.au\/?p=69175"},"modified":"2025-05-30T03:28:30","modified_gmt":"2025-05-30T03:28:30","slug":"redundancy-entitlements","status":"publish","type":"post","link":"https:\/\/arielle.com.au\/redundancy-entitlements\/","title":{"rendered":"How To Maximise Your Redundancy Entitlements"},"content":{"rendered":"Reading Time: <\/span> 4<\/span> minutes<\/span><\/span>\n

Is your job at the risk of redundancy? You’re not alone. The COVID pandemic has triggered ongoing company transformations<\/a> which, in turn, have cascaded into an avalanche of staff redundancies.<\/p>\n\n\n\n

Prior to the pandemic, one in four Australians<\/a> could expect to be made redundant during the course of their working lives.<\/p>\n\n\n\n

I predict that in the next decade, this number will rise to one in three.<\/span><\/div><\/div>\n\n\n\n

The rise in hybrid workplaces, remote work, automation and the gig economy is delivering new levels of freedom and flexibility (at least to some workplaces<\/a>).<\/p>\n\n\n\n

But in doing so, it is making a large number of existing roles redundant.<\/p>\n\n\n\n

(Related: Crush Your Career Goals With This Career Plan<\/a>).<\/strong><\/p>\n\n\n\n

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Why Redundancy Is Stressful.<\/strong><\/h2>\n\n\n\n

If you’re like most people, redundancy is not your ideal scenario.<\/p>\n\n\n\n

Sure, the redundancy lump sum payment seems fun. <\/p>\n\n\n\n

But by the time you give part of it to the ATO (yes, the payment is taxed – beyond a certain threshold<\/a>), you’re left with a surprisingly short financial runway. <\/p>\n\n\n\n

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Important!<\/h3><\/div>

News of redundancy can trigger doubts about your skills and abilities – or questions about the value you bring to the table.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n

If you’re in this boat right now, remember – all this is normal.<\/p>\n\n\n\n

(Related: Complete Guide To Dealing With Redundancy<\/a>).<\/strong><\/p>\n\n\n\n

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What Is A Redundancy?<\/strong><\/h2>\n\n\n\n

Legally, redundancy happens when an employee is dismissed because of factors outside their control.<\/p>\n\n\n\n

These factors include:<\/p>\n\n\n\n