When an employer wants to resolve an issue quickly, they may make a settlement agreement offer to the employee to provide them with financial compensation in return for having no further claim against their employer. The employee can make a settlement agreement counter-offer to demand certain terms be added to the agreement or changes be made.
To make a settlement agreement counter-offer, an employee should speak to an expert employment law solicitor - such as those at Ramsdens Solicitors. In the following guide, we will explain the process to make a successful counter-offer and why it is essential that you seek legal advice from an employment lawyer when you do
What is the process of making a settlement agreement counter-offer?
The first thing you should do when faced with a settlement agreement is to take it to a solicitor who will review the agreement and advise you as to whether it might be best for you to accept it or try to negotiate better terms with a counter-offer. Typically, employees are given 10 days to respond to a settlement agreement, so you should contact your solicitor as soon as possible to allow yourself enough time to fully consider your options.
Settlement agreements are typically made to look initially appealing to employees but may obscure the long-term benefits of pursuing a legal claim. While a settlement offer may grant you a sum of money, it will block you from taking any further legal action and may not make the issue go away. Your solicitor will facilitate the settlement negotiations and any communications between you and your employer. When assessing how much money you should demand from the agreement, they will take into consideration the following points and how they have affected you:
● Whether your employer acted fairly.
● The reasons for your employer acting the way they did or choosing to end your employment.
● Whether you are likely to be unemployed for long following your termination.
● Your company's terms and conditions regarding terminating employment contracts.
If you find that your employer did not take any of the above into consideration, or that you may be significantly affected by any of the above criteria, you should consider negotiating the offer. Once we have planned your counter-offer, we will approach your employer with the offer and inform them that the negotiations should be done under a protected conversation. This means that your employer will not be able to use anything discussed in the negotiations against you should they not accept the counter-offer.
The offer can be made verbally or in writing; either way, we will help you to do so. If your employer does not accept the counter offer, we will advise you on what steps you should take next. We will always work to keep your options open and maintain transparency on your chances of success and what we believe will be the best direction for you to take.
If you have been approached with a settlement offer, speak to the employment law solicitors at Ramsdens as soon as possible. Call us now on 01484 821 500, email us with your query at info@ramsdens.co.uk, or fill out an online contact form and we will return your call at a time suitable for you.