Compromise Agreement
ADVICE FROM SOUTHAMPTON LAWYERS FOR EMPLOYERS ON COMPROMISE AGREEMENTS
If you need to make redundancies, dismiss employees or are having an issue resolving a particular grievance your employees have, before making a dismissal it is wise to consider using a compromise agreement. Due to the exponential rate at which employment tribunal claims have been increasing, compromise agreements are being increasingly used by organisations to avoid the dreaded expense and time involved in litigation and disputes.
Advice for businesses in Southampton of all sizes and shapes
Southampton solicitors have experience in advising businesses of all sizes and shapes in the local area. Whether you need compromise agreements for mass redundancies or a one off issue, we are here to help.
Prior to using the agreement
In some cases, offering a compromise agreement may prove too generous and where it is apparent that the employee will have no concrete legal claim, we will advise you appropriately.
Drafting and negotiating the agreement
Compromise agreements are approved for use by statutory law meaning in most instances the agreement will be fairly standardised. As we have dealt with many circumstances involving these agreements, we can give you on an idea of the standard level of benefits and payment you should offer in your particular case.
However, as a legal requirement, employees are required to seek ‘independent’ legal advice on compromise agreements, which could mean negotiating and redrafting the agreement, which Southampton solicitors are happy to do on your behalf.
Other related issues
As part of the agreement, it is common for employers to request restrictive covenants are signed, which prevent employees from divulging commercially sensitive information. As well as assisting you in this, Southampton solicitors are happy to advise you on tax and pension issues which often arise with compromise agreements.
Local advice for local businesses
If you are thinking of using a compromise agreement or are currently in the process of negotiating and drafting one, get in touch with Southampton solicitors. Southampton solicitors prides itself on offering a practical, sensible and cost-effective that is both commercially and locally relevant to your business. Please get in touch at your earliest convenience to find out what we can do it help.