What is the Job Retention Bonus?

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The unprecedented Coronavirus Job Retention Scheme (CJRS) has so far supported over one million employers to protect over 9 million jobs.

The scheme has been open since March and will wind down flexibly and gradually, supporting businesses until October.

It is important that people who have been furloughed are supported back to work.

It is beneficial for everyone, including the individual, to prevent skills from fading and to maintain strong employment relationships.

Therefore, the government is introducing a new Job Retention Bonus to reward and incentivise employers who keep on their furloughed employees.

Policy Decision

Job Retention Bonus – The government will introduce a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021.

Employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021.

Payments will be made from February 2021. Further detail about the scheme will be announced by the end of July.

If you’re looking for advice on this subject and want to know how the changes will impact your business.

Contact us by completing our secure contact form

Alternatively call us direct on 01243-607357, or email info@starfishpeople.com

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