Settlement agreement & exit package

Settlement agreement & exit package

For whatever reason and despite the best of intentions sometimes things just don’t work out. But without one of the categories of lawful dismissal at our disposal, what can an employer do about it? Too many don’t do anything and a bad situation gets worse, or the employee is dismissed unlawfully and the whole thing ends up in a nasty legal battle.

It is though possible to safely and cost effectively part company with employees under a confidential settlement agreement. myhrdept have been providing hr support solutions to these kind of issues for over a decade now and, whether you’re an existing customer of for our small business HR services or not, we can help you resolve matters safely and without incurring expensive solicitors bills in the process.

Whatever route you choose we’ll design a strategy for your settlement agreement and coach you through the process, drafting all letters and of course the agreement itself. This service is FREE for myhrdept premium plus customers, and from only £499 + vat for new customers.

Our £499 HR support package includes the following steps:

  • Telephone meeting (or pop in if you’re local to one of our offices) to discuss issues and identify the best route forwards
  • Draft initial letter to employee and settlement agreement
  • Carry out one set of settlement agreement revisions as may be required by the employee’s advisor
  • Draft reference for employee
  • Return all finalised paperwork to employer
  • (optional from +£99 – draft post restrictive terms into the settlement agreement for employees who may pose a risk to your business)

You will also need to budget for the employee to obtain independent legal advice (£350 is normally sufficient) and a sum of money for the compromise settlement, which can be paid free of tax. Total fees and charges then should be in the order of £750, added to which would be any settlement sum & the cost of the outplacement support if you decide to fund this. In the context of the cost of contesting an unfair dismissal claim (fees and awards can easily top £10,000) this is can be a genuinely sensible option for circumstances where a clearly fair dismissal route is unavailable. Our fixed price settlement agreements are usually less than half the cost of a comparable product from a solicitor.

For a no obligation and free initial discussion please call myHRdept on 01628 820515 or email us and we’ll call you.