The amount of compensations and benefits that that an employer will offer an employee is usually dependent on any contractual and/or statutory entitlements and also the circumstances of any potential claim that the employee could bring. Factors which may determine the amount of said compensation, benefits and overall value of the settlement agreement may range from the strength and weaknesses of the claims the employee might have to the years of service that the employee has put in his employment; Factors which also include the longevity, costs and difficulty of litigation and tribunal alternatives where the settlement is not agreed to, the importance of the employee or the position he/she holds and the satisfaction of the compensations and payments offered in terms of termination notice (where applicable), unused annual leave and remaining salary entitlements.
“…….Before beginning Settlement Agreement negotiations with your employer it’s important to have a firm idea of the figure you are hoping to achieve. This figure should be realistic and it’s advisable to keep negotiations as amicable as possible. You can choose to negotiate either in person or in writing, but regardless of which method of communication you choose, it’s a good idea to start any correspondence stating that you’re speaking “without prejudice.” This essentially means that you’re communicating off the record and the correspondence cannot be used in an Employment Tribunal….”
You can call us on 0207 183 0084 or email us on employment @olaleslie.com for any queries about Settlement or Compromise Agreements . We are always happy to assist and can usually arrange appointments for Independent Legal Advice at short notice