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Company bankruptcy help customers 'could find it hard to hold on to staff'

Date Added: 28/10/2010  

Company bankruptcy help customers have been told that it is a tricky balancing act between keeping hold of their best staff and making redundancies to improve their finances.

Peter Reilly, director of HR research and consultancy at the Institute for Employment Studies, advised companies in this position to examine the skill set they require to move forward and select the staff they keep on this basis.

"It's much easier to enforce redundancy, but in the real world you may not get away with that if you're an employer. You may have to do the voluntary route first," he informed company bankruptcy help customers.

Mr Reilly added that firms need to be careful when offering voluntary redundancy that they are able to hold on to the staff they want to keep, even if they say they want to leave.

His comments come shortly after the Chartered Institute of Personnel and Development stated that the government's estimate of 490,000 public sector job losses may be too low.

Posted by Julie Cutts 

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