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Taking advantage of the UK government furlough scheme the right way
As someone who has been put on furlough, here are my thoughts on how companies should approach it
What is “furlough” here in the UK?
Under the UK government’s Job Retention scheme (“furlough”) set up to help during the current epidemic, companies have the option to furlough their staff instead of having to make people redundant to keep the business from going bankrupt. The government will pay furloughed workers 80% of their salary, capped at 2.5k (note, this is before tax too).
How it has affected me personally
I have been put on furlough. Admittedly, this only partly came as a surprise. I’ve been nervous about the current economic climate within the travel industry and was almost certain I would be made redundant. While that was an option offered by the company, being on furlough allows the company to retain me once this whole epidemic blows over.
Sadly though, while being on furlough gives me at least some job security through this epidemic, it massively affects my finances. Being a software engineer, that cap results in a significant loss of income for the next few months.
