A redundancy settlement agreement solicitor can help you ensure you receive a fair package without the need to progress through a prolonged redundancy process.
Redundancy arrangements can be difficult to deal with but the basic premise is that an employer no longer requires work of a specific type, which results in fewer staff members being required.
As a result, redundancies are made, meaning that those people will no longer work with the company if there’s not another suitable role available for them.
There are other reasons for redundancy, such as an employer closing down a workplace or location, a cost-cutting exercise, or perhaps if they’ve been acquired by another business OR if they’ve acquired a business themselves, they might be looking to make changes.
Settlement Agreement And Redundancy
Employers considering redundancy MUST go through a fair redundancy procedure before making any decisions.
- Applying fair selection criteria
- Consulting with employees
- Explaining the reasons for redundancy
- Exploring any possible alternative options
- Offering suitable roles within the company if they’re available
- Giving employees the opportunity to appeal the decision
Redundancy isn’t a fun process for anyone.
For employers, it’s difficult to make the decision and communicate that with employees, particularly if they’ve worked with the company for a significant period of time.
To qualify for statutory redundancy pay, an employee must have been in continuous employment with the company for at least 2 years.
But employers are always likely to be more amenable to a settlement agreement. The reality is that it’s a situation nobody particularly wants to be involved in, and any way where the risk can be mitigated and the situation can be resolved amicably is preferable for both parties.
Which is why many employers will offer a settlement agreement, rather than going through the full process of redundancy.
Settlement Agreement Adviser
Having a settlement agreement adviser on hand can be invaluable throughout what is an important process.
Because you’re looking to ensure you’re financially secure so that you can move on to new opportunities, it’s vital that you have someone who you can rely on to advise you.
A settlement agreement independent adviser could be a solicitor, union representative, or someone who can advocate for you.
Considerations need to be made over your long-term financial future and how any settlement agreement will ensure that you’re comfortable moving forward.
For example, knowing that the first £30,000 of any settlement agreement is tax-free is important for informing your decision.
That figure includes termination payments, any remaining salary and payments (bonuses, notice pay etc.), and the agreement might also include non-disclosure clauses, written agreements waiving rights to legal action, and other key agreements.
Having someone on your side who is a legal expert can be invaluable, especially when it comes to knowing what your employer is looking for, where it’s best to settle, and what a fair agreement would be.
Redundancy Solicitors Near Me
Redundancy is a process that most people would rather avoid, and that’s true of employers as much as it is of employees.
The uncertainty makes things difficult, and the idea behind a settlement agreement is to provide stability, a financial payment, and certainty to your life.
We know that everyone has commitments, whether that’s family, a mortgage, rent, childcare costs, bills, running a car, travel, or anything else – the list is endless, really.
Which is why ensuring you receive a fair settlement is crucial – and at Solicitors Near Me, we’re here to help.
We connect you with employment solicitors near you for FREE so you can get redundancy advice and resolve your redundancy situation..
There’s no obligation to proceed with the solicitor that we connect you with, and there’s zero cost until you make a decision, either…
Redundancy Advice Near Me
Whatever your needs, there’s a solicitor near you that help you with redundancy legal advice…