This is what you need to know
Kate Boguslawska a partner at leading city law firm, Carter Lemon Cameron’s LLP, is advising businesses that they need to be aware of the potential benefits of settlement agreements.
Boguslawska, who specialises in employment matters, has said that such agreements can be an important way of minimising damage arising from employment disputes, or even preventing them from occurring in the first place.
Boguslawska said: “Employment disputes can arise in any business and can be damaging to both the employer and employee in many different ways.”
“This means that it is important that businesses have an effective toolkit of strategies in place to minimise the chances of a dispute in the first place and to minimise the impact where it does happen.”
“Settlement greements can be a particularly effective way to bring about a mutually acceptable resolution to employment disputes, while minimising reputational damage or risk to the confidential information belonging to a business.”
“I am encouraging businesses to make sure they are familiar with the different ways that settlement agreements can be used and also to seek specialist advice at the earliest opportunity where they are concerned a dispute may arise.”
Settlement agreements can be used in a wide range of circumstances and can be used at any stage of an employment relationship.
They will typically deal with matters including any severance payment, restrictions on future employment, confidentiality and references amongst other things.
Carter Lemon Camerons LLP has prepared a guide to Settlement agreements, which is available to download free of charge