Compromise Agreement
Compromise Agreement advice for employers in Havering
Employer headaches
The number of employment tribunal claims have grown significantly in the past decade or so. In total, around 130,000 claims are now brought forward as a result of there being no fees for the tribunal itself and no risk of having to pay the other side’s costs in the event that the case is lost.
This has provided a bit of a headache for employers. Any form of litigation is potentially damaging to an employer; it can attract unwanted publicity and represent a loss of time, money and effort that could be better invested into the business. In the main, employers have attempted to counteract the increase in tribunal claims with compromise agreements.
The emphasis is on compromise
Compromise agreements, as suggested by the name, offer a convenient solution for both employers and employees; employees are presented with compensation and other benefits in return for a promise not to bring any possible claims relating to unfair dismissal, unresolved grievances, maternity leave and redundancy to an employment tribunal. They can be made binding in contract law, meaning employees will liable should they go back on their promise to not bring claims.
Compromise agreements are allowed for statutory law (that is laws passed by Parliament). Naturally, they are fairly standardised agreements, although with our help, they can be tailored to a degree to the needs of your business.
How Havering solicitors can help
Havering solicitors can help you with any matter related to compromise agreements. Whether you have a dispute with one individual employee or need compromise agreements for planned redundancies, we are here to help you and your business. Specifically, we can provide advice regarding:
- The drafting of compromise agreements
- Restrictive covenants
- Pensions
- Tax liabilities
- Confidentiality agreements
Compromise agreements are often negotiable and Havering solicitors can act on behalf of employers to negotiate the best deal possible for your business and redraft agreements where appropriate.
Advice for businesses in Havering
For practical, cost-effective advice in Havering on any aspect of compromise agreements, please get in touch right away to find out what we can do to help you and your business.