HR Glossary

What is Redundancy Pay?

Statutory and contractual compensation paid to UK employees who lose their jobs because their role is no longer needed, calculated based on age, weekly pay, and length of continuous service.

Why it matters in hiring

Redundancy Pay comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with R

• Recruitment Analytics
• Recruitment Funnel
• Recruitment Marketing
• Recruitment Process Outsourcing (RPO)
• Regulatory Compliance
• Relieving Letter
• Relocation Assistance
• Remote Work Policy

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.