SA Law’s employment experts can help employees to secure favourable settlement agreements.
If you have been offered a settlement agreement by your employer, we can provide swift and independent advice to ensure the offer is fair and definitive. A settlement agreement is sometimes referred to as a ‘severance’ or ‘redundancy agreement’ and was previously known as a ‘compromise agreement’.
Our employment solicitors can assess whether the compensation you have been offered as part of your settlement agreement sufficiently reflects the potential value of the claim. We can also negotiate on your behalf to ensure the best possible outcome with the least inconvenience to you.
What is a settlement agreement?
Typically, settlement agreements are offered at the end of a period of employment, especially in redundancy situations, but they can also be offered during employment in certain circumstances.
Employers offer settlement agreements as financial compensation to employees who have made, or could make claims against them. This can be an effective way to resolve a dispute between employee and employer, without the cost and inconvenience of going through an employment tribunal.
Either way, it's important to note that the settlement agreement is only valid and binding if you take legal advice on its terms and implications. This is where an experienced employment solicitor can help.
HOW WE HELP YOU
Our settlement agreement solicitors can assist by:
- Reviewing the settlement terms offered by your employer to make sure that your agreement does not include unfair terms.
- Explain the meaning and effect of signing/ accepting a settlement agreement specifically to your situation - whether you plan to Advise you as to whether anything needs to be amended or changed.
- Negotiating the situation to your best advantage, and ensuring you are protected from future risk.
Expert legal advice can be particularly important if you intend to continue working for the employer after the settlement agreement has been finalised.
Advising you on whether any claims arise on the termination of employment. If so, advise you what those claims might be worth and whether the sum offered is reasonable in the circumstances.
ITS GOOD TO BEAR IN MIND
- Writing everything down can be very helpful to ensure you remember what was said by your employer.
- Take advice about settlement agreements as soon as possible to give your solicitor sufficient time to negotiate the best result for you.
- Consider asking your employer for an agreed reference as part of the settlement agreement, whether you are leaving the organisation now or in the future.
- It’s also worth asking for a contribution to legal fees if your employer hasn’t already offered one.
- Without seeking legal advice specific to your situation, employees run the risk of waiving their rights by signing a document that they do not fully understand.