Settlement Agreements For Employers

In a turbulent economy, such as the one we currently find ourselves in, it may be necessary for your firm to make redundancies.

Where this is a possibility, it is essential to seek early advice from a specialist employment lawyer in order to ensure procedures are followed correctly and to protect you and your firm’s interests.

A specialist employment lawyer can advise you on the most suitable options, including the possibility of using a settlement agreement.

When can a settlement agreement be used?

A settlement agreement is most commonly used at the end of a period of employment, particularly in instances where redundancies may be required. Prior to starting a formal redundancy consultation, it may be possible, and more appropriate for your firm to conduct “pre-termination negotiations” in order to seek early agreement on the terms of an employee’s departure. This would, subject to following the correct procedures, bypass the requirement for formal redundancy procedures, which can be time intensive. A Settlement Agreement can therefore be a quick and effective way to terminate employment between employee and employer and provide favourable terms for both parties.

Once an employee has accepted an offer under the terms of the pre-termination negotiation, they will be required to sign the Settlement Agreement, which formally acknowledges their termination of employment and that the employee is waiving the right to bring any future employment related claims. This therefore provides your firm with the comfort that the document is binding and that the termination is fully complete.

Given the potential ramifications of an incorrect or incomplete Settlement Agreement, it is essential that employers seek the advice of an experienced employment solicitor at the outset.

Holmes & Hills settlement agreement lawyers can assist employers by:

  • Drafting a Settlement Agreement, tailored to your unique situation
  • Ensuring where appropriate, the documentation includes post termination restrictive covenants, intended to limit (for a period of time) the employee’s ability to work for a competitor
  • Advising on the formal process of issuing a Settlement Agreement, to ensure the documentation is legally binding
  • Ensuring the documentation addresses any other issues that may have arisen with the individual employee to quash any potential for a future dispute to occur
  • Ensuring the process is completed in a swift manner, causing minimal disruption to your business

Employment law specialists

Holmes and Hills Solicitors have extensive experience in drafting and compiling Settlement Agreements for businesses operating across all sectors. Our expert employment solicitors understand the importance of tailoring our advice to your unique circumstances in the quickest possible timescales.

Similarly, our team of employment lawyers appreciate as an individual employee it can be a daunting time and protecting your interests is vital. We are able to review a proposed Settlement Agreement and are adept at negotiating to ensure it fully reflects your value as an employment.

Get expert employment law advice

For specialist legal advice, please contact David Dixey, employment law specialist on 01206 593933.
Or send an email
Key Contact

David Dixey

Employment Law Specialist

dd@holmes-hills.co.uk

View Profile

Related Services

No items found
For Employers
Employment Law Retainer Service Brochure
Read about Holmes & Hills' Employment Law retainer service offering and the five, flexible packages providing support to small and medium sized employers in East Anglia.
Download Brochure

Your Settlement Agreements For Employers Team

No team found

Settlement Agreements For Employers Case Studies

No case found
Latest News
Useful Information
From departments and lawyers across Holmes & Hills.
Read More

5 Key Points to consider before giving a Collateral Warranty

Construction professionals and named sub-contractors, particularly those with design liability, are often asked to provide collateral warranties so as to […]
Read More

Flexible Working Request - What Are Your Rights?

As a consequence of the pandemic large numbers of employees have been working at home (where practicable) and this has […]
Read More

NEC & JCT construction contracts: Key differences, pros and cons

Lawrence Pearce, specialist construction solicitor at Holmes & Hills, discusses the pros and cons of NEC and JCT construction contracts. […]
Read More

Receive the latest legal updates

Get important legal updates, news and opinion sent to you straight from our solicitors.
Sign Up

A Mackman Group collaboration - market research by Mackman Research | website design by Mackman

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram