Quick Poll results: 48% of companies intending to use the Job Retention Bonus
19 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:
- Were furloughed and had a Coronavirus Job Retention Scheme (CJRS) claim submitted for them that met all relevant eligibility criteria for the scheme
- Have been continuously employed by the relevant employer from the time of the employer’s most recent claim for that employee until at least 31 January 2021
- Have been paid an average of at least £520 a month between 1 November 2020 and 31 January 2021 (a total of at least £1,560 across the 3 months). The employee does not have to be paid £520 in each month, but must have received some earnings in each of the three calendar months that have been paid and reported to HMRC via RTI;
- Have up-to-date RTI records for the period to the end of January
- Are not serving a contractual or statutory notice period, that started before 1 February 2021, for the employer making a claim
The information in this article is accurate at the time of publication. For all the latest information, news and resources on how the COVID-19 pandemic is affecting payroll professions, visit our Coronavirus hub.