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Continue readingSusanna Russell – an experienced solicitor in West London, working as a consultant at Hubbard Pegman and Whitney – now offers legal advice for settlement agreements arising from redundancy.
What are settlement agreements?
Formerly known as ‘compromise agreements’, settlement agreements are legally binding contracts entered into by both an employer and employee. They are there to outline the terms when ending the employment relationship.
This is a contract that you have the option to sign or not to sign. It often involves a monetary pay-out as well as a guarantee that the employee will not take legal action against the employer. It is important to take the time to understand the complexities of this agreement before settling. This is where having a qualified solicitor to help you can be invaluable.
What is the difference between redundancy and a settlement agreement?
Settlement agreements are voluntary contracts. You as the employee have the option whether to sign or not. If you cannot come to an agreement then your employer may consider compulsory redundancy. This process would allow you some level of consultation but you would forfeit your ability to have much say in your employer’s decisions.
How to Negotiate a Settlement Agreement
If you are not happy with the terms offered by your employer then you are able to enter into negotiations. As with any kind of legal negotiation, there is an element of give and take. It is important to be aware of what you are reasonably entitled to and what you are not. Having a solicitor specialised in settlement agreements at this stage can massively helpful. Susanna Russell, an expert consultant at Hubbard Pegman and Whitney LLP, would be able to guide you and set realistic expectations.
In a settlement agreement, employees can hold a fair amount of bargaining power. It is often in the employer’s best interests to settle quickly and quietly to minimise disruption to the business. This can allow you to negotiate better terms. However, there is always a line. If you push for too much then it could be deemed unreasonable.
Each settlement agreement will look different depending on your individual context. At Hubbard Pegman and Whitney LLP we would encourage you to seek trustworthy legal advice before coming to any decisions.
Get in touch
As we have outlined already, each individual settlement agreement looks different. If you are unsure of how to proceed, we would strongly encourage you to contact us today. With years of experience representing clients from all different employment backgrounds, we are fully equipped to handle the complexities of your case. Contact a settlement agreement solicitor today.
Get in touch today with a settlement agreement solicitor in West London to schedule an initial consultation. Contact us by phone on 0208 735 9770, by email at info@hpwsolicitors.co.uk, or through the contact form on this page.
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