The research from business insurer Premierline Direct shows that around two-thirds of company bosses (64%) think staff would be out for revenge and over half (55%) suspect they would attempt to get a bigger compensation payout.

Of the business owners worried about being sued by workers, 73% said it’s because the business does not have the necessary funds to afford a payout and over a third (36%) would be worried they hadn’t followed the correct procedures. Almost half (49%) do not have legal protection insurance.

According to the survey, over a third (37%) of the small businesses that had to let staff go did not seek legal or HR advice beforehand.

Chris Little, managing director of Premierline Direct, comments: “Redundancies have increased considerably in line with the economy’s performance and many business owners are facing the prospect of having to make staff redundant; something which they might not have experienced before. What bosses may not realise is there is plenty of help available to guide them through the process including cover provided through their business insurance policy.”

If your company is in the South East of England we can assist you and your redundant employee's, by provding FREE training to those whom meet the criteria.  Please contact r2r@a2zsecuritygroup.com or Grant on 07872 986566 for further information