Expert Advice on Settlement Agreements & Terminating Employment
A settlement agreement is a contract which can bring an end to the employment relationships on agreed terms, whilst putting an end to any potential claims the employee might have in the employment tribunal. These agreements are usually entered into by the employee because a sum of money has been offered in return.
If you are considering terminating an employee, settlement agreements can be a useful commercial tool to prevent costly litigation. Whilst it may mean that you have to pay a sum of money to the leaving employee, in the long-run it can often be less than the legal fees you would have to pay if a claim was made.
Advice prior to terminating an employee is important. Underlying issues need to be considered before a decision is made as to whether to dismiss an employee. If an employee’s performance is as a result of a disability, or there are unrelated incidents of discrimination against the employee which there is an ongoing grievance, then advice needs to be sought in order to try and mitigate any risk of any potential costly discrimination claims.
Our specialist employment team can provide you with expert commercial and pragmatic advice on terminating an employee and settlement agreements to attempt to reduce the risk, cost and worry of any potential claims.
If you are planning to terminate an employee, or you need a settlement agreement to be drafted, give our dynamic team a call on 0113 284 5000, or send us an enquiry.