Last month, the government announced how the Jobs Support Scheme would contribute 1/3rd of the shortfall of wages for employees who were working reduced hours, but working at least 33% of their normal (pre-furlough) hours. The employer would contribute a further 1/3rd of the shortfall, and the employee would forego the final third.
The extension applies to any businesses required to close their premises due to local or national coronavirus restrictions. Realistically, and looking at the news, this seems to apply most to the hospitality sector, with rumours pubs and restaurants in some areas will be expected to shut down again over the coming weeks. It will only apply to those businesses that are forced to close, not to those who choose to close due to Covid restrictions.
For affected businesses, the government will pay two-thirds of their employees’ salaries, up to a maximum of £2,100 per month. Under the scheme, employers will not be required to contribute towards wages at all, and will only be asked to cover NICS and pension contributions.
Businesses will only be eligible to claim the grant while they are subject to restrictions and employees must be off work for a minimum of seven consecutive days.
The scheme will begin on 1 November 2020 and will be available for six months, with a review point in January 2021. In line with the rest of the Scheme, payments to businesses will be made in arrears, with the portal opening early December 2020. Employees of firms that have been legally closed in the period before 1 November are eligible for the scheme, also.
Here at Thrive, we are seeking to support our clients as much as we can in these continuing times of uncertainty. As we seem to be on the verge of another lockdown, mental health could not be more important. It’s world mental health day tomorrow, and you should do one thing at work to connect with your colleagues – whether having a virtual coffee or checking in with someone you haven’t spoken to in a while.
How can Thrive Wellbeing help you?
Do you know what to do when it comes to your employee’s mental health?
What if you could reduce the number of sick absences you have, what if you could increase your employees productively at work. The most successful businesses are those that invest in their people and put their employee’s wellbeing at the top of their agenda. Your people are the drivers of your business, looking after their mental wellbeing will only benefit your business in the long run.
Thrive has created a Wellbeing program for businesses to better understand their employee’s wellbeing and by having this knowledge you will reap the rewards.
Please get in touch here to invest in your business and your employees!