Employees can only legitimately settle their employment claims and waive their employment rights by agreeing settlement via ACAS (known as a COT3) or in the form of a Settlement Agreement.
The law recognises that employees could potentially be in a weaker bargaining position than their employers and to prevent them being taken advantage of and agreeing to waive their rights without being compensated fairly, Settlement Agreements must contain certain provisions and employees must obtain independent advice on the content.
Employers should take care to ensure that if they offer an employee a Settlement Agreement it is genuinely legally binding and contains sufficient protection for the employer otherwise you could be wasting your money.
Want to get some advice? Do you have questions?
If you would like any advice or assistance with resolving disputes or offering a Settlement Agreement, then please get in touch. We can often provide you with a fixed fee quote for the preparation of a Settlement Agreement and relevant guidance to assist you, thereby keeping your costs under control.