Statutory Redundancy is the act of laying off a large group or groups of employees from organizations as a part of re-structuring, cost-cutting or closing process. When employees are downsized, they are generally offered a lump sum of money called Statutory Redundancy Pay. This pay depends on the duration of the time the employee has worked for the company and is calculated in a standard manner as dictated by the employment laws. Statutory redundancy pay is awarded to the employees as a palliative to the sudden job loss and the financial and emotional turmoil caused by it. While people who have a financial safety net in place save this money for future use, those that are not well prepared may have to delve into these funds as soon as the paychecks run out and hence to them, this sum of money is more than often invaluable.
Depressive disorders: Anxiety, stress, and depression are common outcomes of the stresses that life presents to us. People suffering from depressive disorders such as attention deficit hyperactivity disorder (ADHD) and other such mind related ailments find it difficult to sustain balance and remain unaffected by events like job loss. For such individuals, statutory redundancy pay becomes much more important because they may take a longer time to recover and look for new avenues of employment.
It must be noted that the laws make it illegal to layoff any individual, amongst other things, due to illness, disability or medical condition. If there arises a suspicion that an illegal dismissal due to conditions such as ADHD ( which could result in poorer job performance) has occurred, it is better to engage in a discussion with the employer until a suitable explanation is provided. Statutory redundancy pay is vital for employees with depressive disorders as these people may have additional long-term medical expenses. It is a good idea to negotiate continuing health insurance benefits during the consultation process. Patients with ADHD may need additional counsel to handle the emotional stress of redundancy process as well as take sound decisions to their benefit.