Guest Blogpost from Richard Lynch: Do you understand your employer’s finances?

Understanding your employer’s finances and structure can be very important if you are negotiating on pay or pension rights, or consulting on redundancies or business transfers.  This is particularly the case in the current economic climate where some employers may be in genuine financial difficulty while others may be extremely cash rich but unwilling to spend on staff pay or job security.

Company accounts can be hard to understand, of course, but Labour Research Department has done the Movement a favour by publishing a very useful guide for trade unionists on Using Financial Information and where to find it. The guide costs £5.70 and is available from LRD, 78 Blackfriars Road, London SE1 8HF (020 7928 3649) or can be ordered on-line from www.lrd.org.uk.

Using the booklet to understand your employer’s finances can do much to help you bargain effectively, and we therefore recommend that you buy a copy. If you want to save the cost involved, however, you can always ask Human Resources to explain the employer’s financial position to you. We are sure that they will give you all the information you need to get what you want from the negotiations.

Richard Lynch is a Dudden Hill resident. He is a retired Unite the Union official and currently conducts voluntary work on employment rights for the Brent Community Law Centre. He also acts as an accompanying representative for the GMB union.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s