Job Retention Scheme

The job retention scheme was introduced for the Covid-19 pandemic and is better known as Furlough.

What is the job retention scheme?

The job retention scheme is a government wage support measure designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic.

It is for when there is no work for an employee to do because of Covid-19, so rather than exit staff from your business, you can pay them 80% of their wages and the Government will reimburse you for the wage cost.

The scheme seeks to preserve jobs at firms experiencing a temporary reduction in business activity by alleviating labour costs while supporting the incomes of workers.