Job Retention Bonus

The Job Retention Bonus Scheme has been introduced to reward and incentivise employers to keep on any staff who have been furloughed over the past few months. It’s important that furloughed staff are supported back to work, to prevent their skills from fading and to ensure that they maintain strong employment relationships.

The scheme has also been introduced to reduce the risk of redundancies and unemployment.

For every furloughed employee that you bring back, you will receive a one-off payment of £1000.

To receive the £1000 payment per employee, you must meet the following criteria:

• Bring the employee(s) back from furlough, and keep them in continuous employment until at least the end of January 2021.
• Employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021.

All businesses based in the UK are eligible if they have furloughed staff, regardless of the industry or size of the organisation.

Payments will be made from February 2021 onwards.

At this time, there is no cap on how many employees you can keep on – this is to reward businesses for retaining as many members of staff as possible, and for preventing redundancies and unemployment.

The furlough scheme has been extended until the end of April 2021 with the government continuing to contribute 80% towards wages.