The cost of making someone redundant

The average cost of making someone redundant is £16,875 per employee to an employer before they make any savings. This is the figure quoted by the Chartered Institute of Personnel & Development who say that redundancies should be a "last resort".

Many businesses will look at saving money by laying people off but the CIPD have identified that redundancy contains a number of direct, indirect or hidden costs. They recommend that employers should "hold their nerve" and retain and invest in the skills of their talented staff.

Read the article for more information.