Benefits of compromise agreements for you Quick Resolution - there are plenty of benefits to resolving a potential unfair dismissal or redundancy case as soon as possible.
A compromise agreement can be debated and agreed in a short period of time which leaves you to get on with the rest of your life and put the unpleasant business of your old job behind you.
Quick Financial Compensation - If your employer agrees financial compensation in your compromise agreement you can have the money in your bank much sooner than you would from a lengthy tribunal process.
Similarly the money is guaranteed in the agreement, if you take legal action you have no definite idea of how much money you might receive.
Guaranteed Reference - Often, if you leave a company on bad terms, you might suffer from a reference which doesn't highlight all you achieved in your role.
When you are arranging a compromise agreement you can make sure receiving a positive reference is part of the terms.
Clean Break - the value of a new start can never be underestimated.
The positive mental value you can gain from an improved working environment can be worth much more than any money settlement.
Benefits of compromise agreements for your Employer No Potentially Damaging Tribunal - with employment tribunals often comes negative PR.
For your employer the tribunal can reflect upon them badly whether they win the case or not.
Avoiding possible company damaging reports can often encourage employers to explore compromise agreements.
Often cheaper than tribunal - much in the same way you have no idea what you might be awarded at a tribunal neither do your employers.
For many companies a definite payout from compromise agreement which they agree can turn out to be much more affordable than an expensive court case.
Confidentially or Non Disclosure Agreement - Many employers are keen to make sure that workers leaving their company don't give away trade secrets.
If this is the case the company you are leaving could make you sign a confidentially or non-disclosure agreement.
Possible Effect on Morale - Compromise Agreements can often be made quite subtly, this can be a real advantage for your old bosses.
A drawn out tribunal can really affect the morale of the whole company, so if they can arrange an understated compromise agreement this can be of great benefit to all parties involved.
A compromise agreement can be debated and agreed in a short period of time which leaves you to get on with the rest of your life and put the unpleasant business of your old job behind you.
Quick Financial Compensation - If your employer agrees financial compensation in your compromise agreement you can have the money in your bank much sooner than you would from a lengthy tribunal process.
Similarly the money is guaranteed in the agreement, if you take legal action you have no definite idea of how much money you might receive.
Guaranteed Reference - Often, if you leave a company on bad terms, you might suffer from a reference which doesn't highlight all you achieved in your role.
When you are arranging a compromise agreement you can make sure receiving a positive reference is part of the terms.
Clean Break - the value of a new start can never be underestimated.
The positive mental value you can gain from an improved working environment can be worth much more than any money settlement.
Benefits of compromise agreements for your Employer No Potentially Damaging Tribunal - with employment tribunals often comes negative PR.
For your employer the tribunal can reflect upon them badly whether they win the case or not.
Avoiding possible company damaging reports can often encourage employers to explore compromise agreements.
Often cheaper than tribunal - much in the same way you have no idea what you might be awarded at a tribunal neither do your employers.
For many companies a definite payout from compromise agreement which they agree can turn out to be much more affordable than an expensive court case.
Confidentially or Non Disclosure Agreement - Many employers are keen to make sure that workers leaving their company don't give away trade secrets.
If this is the case the company you are leaving could make you sign a confidentially or non-disclosure agreement.
Possible Effect on Morale - Compromise Agreements can often be made quite subtly, this can be a real advantage for your old bosses.
A drawn out tribunal can really affect the morale of the whole company, so if they can arrange an understated compromise agreement this can be of great benefit to all parties involved.