Financial redundancy counselling offer to meet increasing demand

Mar 31 2009 by Tom Scotney, Birmingham Post

BDO Stoy Hayward Investment Management, the wealth management division of BDO, has launched a financial redundancy counselling service for companies making redundancies. The independent financial advice is integrated into the overall redundancy consultation process.

The firm said the service is a direct response to increasing demand from companies making redundancies. The need has arisen from businesses who wish to support their employees whilst easing pressure on their human resources departments.

Mark Howlett, director at BDO Stoy Hayward Investment Management Limited, said: “Redundancy is a difficult process for employers and employees alike. Many companies that have always taken a paternalistic approach will be finding the current market conditions particularly tough as they are forced to make decisions they thought they would never need to make.

“This will also be the first experience of redundancy for many employees and they will be uncertain where they stand financially. Through our counselling service, companies can provide practical financial advice and demonstrate they’re doing all they can at a stressful time.”