Tips on Using Settlement Agreement to Resolve an Employment Issue
Facing an employment issue is not something you want to experience. Unfortunately, even in today’s business climate, there are still circumstances where you might disagree with your current employer. In these circumstances, an agreement needs to be reached before you can decide to move on to the next opportunity.
There are various ways to reach an agreement too. A settlement agreement is considered one of the best solutions to the matter, mainly because it is legally binding and covers both parties equally. Before you hire the best settlement agreement solicitors to help you, here are some of the tips and tricks on using settlement agreement to resolve an employment issue.
Understand the Nature of Settlement Agreements
Before you decide to go down this route, make sure you are fully aware of what a settlement agreement is. The settlement agreement is a solution provided by the government as part of the current employment laws. As the name suggests, it is an agreement that legally binds you and your employer.
A settlement agreement usually contains a number of things. For starters, it must mention the claims to be settled under the circumstance. Any unresolved issue must be listed and a suitable resolution for each of them should also be added to the agreement.
The agreement will also mention any payment you will receive as a result of the agreement, along with things such as the party that will cover tax issues and fees. The agreement is usually concluded with clauses regarding disclosure and references from your employer.
Negotiate the Best Deal
Settlement agreements are not that different than its older form, known as the compromise agreement. The main purpose of a settlement agreement is to reach an agreement on which your employment contract can be terminated without further ramifications. The good news is, you have the option to negotiate a better settlement.
It is best to have experienced settlement agreement solicitors on your side from the very beginning. Negotiations can start as early as a couple of months before termination and may extend well beyond the end of your employment term. Qualified solicitors can help you negotiate the suitable deal and draft a settlement agreement that protects your interests.
It is also worth noting that your employer will be using the services of an employment solicitor – or the in-house legal team – for the duration of the process too. Getting proper representation is a must on your part.
Never Feel Under Pressure
One last thing to remember about settlement agreements is that you don’t have to sign the one presented to you; not under any circumstance. You can choose to reserve the right to make claims against your employer or to negotiate a better deal.
Once again, having top solicitors helping you with the process really helps. Experienced solicitors can advise you on whether the deal is in your best interest. They will also alleviate some of the pressure against you, allowing you to make better, more calculated decisions throughout the process. Don’t forget to remember these tips we covered in this article before you make that decision.