The Government's furlough scheme has been incredibly useful across all sectors; and the advertising and marketing sector is no exception. It has provided vital breathing space at a time when advertising activity has reduced dramatically and the future remains uncertain.
However, despite the fact that the furlough application portal has only been available for 3 weeks, employers should already be thinking about life after furlough. The scheme has allowed employers to reduce their payroll costs significantly at a crucial time, but will those savings be enough or are further steps required?
With little more than 7 weeks of the scheme remaining, careful consideration of the options for your agency is now essential, not least because planning and implementing any form of structural changes to your workforce and/or seeking agreement to changes to terms and conditions of employment takes time. Affected employees may currently be out of the workforce on furlough, which also adds an additional layer of complexity that needs to be taken into account.
Please follow the link below to our article for a detailed examination of the options available for restructuring the workforce at this time and our answers to the key questions arising in each case.
The Coronavirus Job Retention Scheme may have been extended to 30 June 2020, but employers should be thinking now about what their workforce might look like following the end of subsidised furlough and a return to more normal working patterns.