Do you need advice before signing a Settlement Agreement?

It’s no secret that leaving people and places behind is the hardest thing we need to do – be it your loved one, a job change or even shifting to a foreign country. As professional solicitors working on employment tribunals, we have been in various situations where people were disheartened to leave an old job behind, even if they were robbed of their employment rights.

Although it can seem like a task,  if your employer’s has offered a settlement agreement, you may consider accepting it and need to accept the offer at a new place. If you are in the middle of a dispute with your employer, you may want to seek legal advice before signing the settlement agreement.

Advice before signing a settlement agreement:

Before you accept a settlement agreement, you need to understand what is legally binding and whether to accept it or not. You may need a solicitor to understand the terms and have a conversation with your employer. Here are some tips you need to keep in mind:

Get independent legal advice:

This means that you should be aware of your legal rights as well as your rights under your employment contract, as both can have a significant impact on how much money you end up with as well as how you emotionally handle the situation.

Have an adviser by your side

At this moment, you will require assistance. If you’re fortunate, your union representation may be effective, but even simply having a sympathetic coworker or friend can make a significant impact.

Think about what you can do to safeguard your financial security (and that of your family) in the near future:

  • Examine your financial choices with an IFA.
  • Consult your mortgage and/or pension providers about a payment holiday.
  • Make contact with a staffing firm
  • In order to make oneself more appealing to possible future employers, start working on your LinkedIn profile.

All of these things provide you with the power to exert control for claims against your employer in sometimes challenging situations and protect you in case of unfair dismissal.

A settlement agreement by your employer may give you the opportunity to make future plans

Consider your life objectives, ideal career, and ideal work-life balance. Even if you don’t find exactly what you’re looking for, at least a settlement agreement may give you the chance to find what you’re looking for.

Contribute towards building a network

Now is the time to meet up with acquaintances and friends who might have opportunities or suggestions for you. You never know what opportunities this may bring your way!

Need a solicitor?

Our employment law solicitors can help you in negotiation and give you some legal advice on the settlement. You sometimes won’t have to pay for a solicitor where the employer will usually cover the legal fees. We ensure to go through all the terms of a settlement agreement and make sense of what is offered by your employer.

Similar Posts