The Job Retention Bonus was announced within the Summer Economic Statement, and will be paid to businesses who bring employees back to work after a period of furlough, who remain in employment from 1 November 2020 to 31 January 2021.Employees must earn an average of at least £520 per month in that three-month period. If the qualifying criteria are met, then employers will receive a one-off payment of £1,000 per employee.
Answer the CIPP’s latest Quick Poll here.
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Reminder: The Apprenticeship Levy survey is still open! 14 August 2020
As it was announced within the Chancellor’s Summer Economic Statement that additional incentives will be given to businesses who employ apprentices, the CIPP’s Policy and Research team wanted to investigate whether or not businesses are using their levy funding, and if the additional bonuses will prompt them to utilise the funds.
A short survey has been assembled which queries the subject.
Thank you to everybody who has already taken the time to respond to the survey. It should only take approximately five minutes to complete. We realise that everyone is extremely busy at the moment, and we really appreciate your input, as always.
The findings of the survey will be published on the CIPP’s various media channels, so don’t miss the opportunity to have your say and feed in to a piece of exciting research!
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Quick Poll results: 48% of companies intending to use the Job Retention Bonus 20 August 2020 Following on from the announcement that any businesses bringing employees back to work after a period of furlough between November 2020 and January 2021 will be able to claim a one-off £1,000 payment per eligible employee, known as the Job Retention Bonus, the CIPP’s Policy and Research team wanted to ask if companies were intending on using it.
In order to establish the extent to which the scheme will be utilised, the team hosted a question on the CIPP’s News Online page.
The question asked:
‘Are you intending to make use of the Job Retention Bonus?’
The answer that commanded the most responses was for ‘yes’, with 48% of respondents confirming that they do indeed intend on making use of the Job Retention Bonus scheme. 28% of the responses were for ‘no’. Additionally, 15% did not know what the Job Retention Bonus was, and 9% were undecided on whether to use it or not at the point of responding to the Quick Poll.
There is some guidance available on the Job Retention Bonus, with the promise of further detail to be released in September 2020.
Employers can claim for the Job Retention Bonus for employees that:
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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