Quick Poll results: 76% of businesses hoping to use the Job Retention Bonus confirm that it will have no impact on their immediate employment plans
27 August 2020
Following on from the previous Quick Poll question, which asked if companies were intending to make use of the Job Retention Bonus, the CIPP’s Policy and Research team wanted to explore further and to ask additional questions about the bonus.
The follow up question that was posed, asked whether, for those businesses planning to utilise the Job Retention Bonus, the bonus was having an effect on any of their imminent employment plans. The results are now here!
The resounding answer was no, with 76% of responses confirming that use of the Job Retention Bonus would have no effect on the imminent employment plans of businesses. The remaining 24% stated that the Job Retention Bonus would result in a reduced level of immediate redundancies.
The one-off payment of £1,000 per eligible employee was announced within Rishi Sunak’s Summer Economic Statement, and was introduced with the aim of encouraging businesses to take employees off furlough, once the Coronavirus Job Retention Scheme (CJRS) closes at the end of October, and to get them back into work. Guidance on the Job Retention Bonus can be found here, and it has been confirmed that more detailed information will be published in September 2020.
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