ENTREPRENEURSHIP

Detailed explanation-1: -This may result in immediate problems for your business such as: Difficulties retaining staff. An increase in sickness absence. Poor productivity and decision making.

Detailed explanation-2: -What is redundancy in business? Redundancy in business is when a company identifies a job that is no longer required in the workplace for any number of reasons. For example, a manufacturing company that begins using more machine learning might realize some of their employees are no longer necessary.

Detailed explanation-3: -Redundancy happens when an employer either: doesn’t need an employee’s job to be done by anyone, or. becomes insolvent or bankrupt.

Detailed explanation-4: -Definition of Redundancy: Redundancy is a form of dismissal that occurs when a job no longer exists or is not required anymore. Following redundancy, the job/position disappears from the company. This may be because the company is downsizing, closing down, or simply, the work is not required any longer.