Starkey HR Ltd Essay Example | Topics and Well Written Essays - 1750 words

Starkey HR Ltd - Essay Example Redundancies should be a matter of last resort. Starkey must initially make efforts to identify the employees with special skills and experience and retain them. Reducing working time, pay cut, temporary leaves, less dependence on casual staff are some of the desirable measures. If redundancies are inevitable, a voluntary redundancy scheme should be employed. The offers of the scheme should be clearly outlined and sent to all applicable employees. In case of forced redundancies, the method of selection should be fair and non-discriminatory that takes the expertise and experience into consideration.Redundancy is enhanced in companies where statutory entitlements are low. The redundancy packages in most EU countries are quite high in comparison to the UK with a few exceptions such as the Netherlands and France. The average redundancy pay in the EU is more than twice the amount paid by employers in the UK. Under EU regulation, workers are supposed to be informed and consulted in any cas e of redundancies. Additionally, companies need to determine a threshold level for the redundancy and are determined by the size of the workforce and number of required redundancies.Forecasting allows a business to create and modify the financial and promotional strategy of a company in addition to allowing it to keep track of the performance of all requisite parameters, which play a crucial role in decision making and implementing the required changes to existing strategy.