{"id":5285,"date":"2022-01-07T13:32:33","date_gmt":"2022-01-07T13:32:33","guid":{"rendered":"http:\/\/43.204.200.242\/hr-glossary\/redundancy-pay\/"},"modified":"2022-04-11T11:49:38","modified_gmt":"2022-04-11T06:19:38","slug":"redundancy-pay","status":"publish","type":"hr-glossary","link":"https:\/\/akriviahcm.com\/resources\/hr-glossary\/redundancy-pay","title":{"rendered":"Redundancy pay"},"content":{"rendered":"

Redundancy pay is an incentive method an employer uses to pay employees who are redundant by redundancy occurs. This payment is given to reward employees for their experience and skills. It is designed to offset the loss of job security, financial wages, and possible future job prospects that a worker will incur due to redundancy.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-5285","hr-glossary","type-hr-glossary","status-publish","hentry"],"acf":[],"yoast_head":"\nWhat is Redundancy Pay? | Meaning & Definition | Akrivia HCM<\/title>\n<meta name=\"description\" content=\"Redundancy pay is a benefit that an employer can offer its employees in place of the benefits they would typically receive from the company.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/akriviahcm.com\/resources\/hr-glossary\/redundancy-pay\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redundancy pay\" \/>\n<meta property=\"og:description\" content=\"Redundancy pay is a benefit that an employer can offer its employees in place of the benefits they would typically receive from the company.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/akriviahcm.com\/resources\/hr-glossary\/redundancy-pay\" \/>\n<meta property=\"og:site_name\" content=\"Akrivia HCM\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AkriviaHCM\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-11T06:19:38+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@AkriviaHCM\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/redundancy-pay\",\"url\":\"http:\\\/\\\/akriviahcm.com\\\/resources\\\/hr-glossary\\\/redundancy-pay\",\"name\":\"What is Redundancy Pay? 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