They are usually used to terminate an employee’s employment, and if negotiated properly, are a very useful tool for employees and employers as they enable the employer to ensure that no future claims will be made by an employee, whilst allowing an employee to receive a financial payment (very often tax free) as compensation for giving up such rights. They save the need for employment tribunal proceedings which can be expensive and time-consuming, and may attract potentially damaging publicity.
In order to be binding, there are several requirements that must be fulfilled, however, the most important is that the employee must take independent legal advice on the contents and the effect of the agreement before agreeing to enter in to it.
Gender Pay Gap Reporting: Your Questions Answered
Over time, the gap between women’s and men’s median hourly earnings has been narrowing. In fact, according to the Office for National Statistics (ONS) it has fallen by over a quarter among full-time employees in the last decade.
How to calculate holiday pay in 2021: an update on legislative changes
For many businesses, calculating holiday pay is a straight-forward process. Employers are, within the parameters of the law, able to dictate how many annual leave days or hours a staff member is entitled to.
Employment Law - Katie Ash on Settlement Agreements
Katie Ash explains and answers some questions about settlement agreements.
Coronavirus - Extended Furlough Guide
With the furlough scheme being extended and on-going decisions around the safe return to the workplace, home working and potential redundancies, we have updated this guide to cover the key points that your business may wish to consider.
The Redundancy Survival Guide: What you need to know and do
Being told that your job is at risk of being made redundant is a devastating blow for anyone. Redundancy can have a significant financial impact on you and your family. This guide will give some useful action points that can help you understand your rights when facing redundancy and steps you can take to try and find other employment.
Gender Pay Gap Reporting- Is Your Business Ready?
In April 2017 employers with over 250 staff became obliged to report on gender pay gaps. Here are some tips that your business may wish to consider.