Redundancy or end of contract?

[shirepro]

I was considering make the leap into employing someone for s specific job. I have a 3 year contract which is enough for me to ensure she has work for 3 years but thereafter, because it is a specialist job and we would need to re-tender there may be no work for her. Is she entitled to redundancy payments, if so how much and who pays that? Does he fact it is always set out as a 3 year contract make a difference? I don't want to cop for excessive redundancy payments, but by the same measure want to treat her fairly if we don't get more work after 3 years.