The main issue in a UK compromise agreement is the amount of the compensation package that you will receive, above what you are contractually entitled to. However, other benefits such as Private Health Care may also be part of the agreement. You should look at what benefits are most relevant for you and see if they are offered in the agreement. You can also speak to fellow employees to see what they have been offered and bear this in mind when considering the agreement.
Non-financial benefits may prove more important for your long-term career prospects. It is important to look into agreeing a standard reference and non-derogatory clause in your agreement, because this may improve your chances of employment in the future. You could ask your employer if you can supply the first draft of a reference letter to your new potential employer, to greater increase your chances of securing a new job.
Negotiating an employment compromise agreement is not something that should be taken lightly. Be sure to take notes at each meeting regarding the agreement, and don’t bow to pressure from your employers to sign anything. You can always tell them you need more time to decide; and then speak to an employment solicitor who has the appropriate experience and background to help you get the best outcome. Better still, get your solicitor to negotiate on your behalf.
Only when a compromise agreement is signed by both yourself and an independent legal advisor is the contract legally binding. Quietly gather and store all evidence that shows breaches to your employment rights if you cannot negotiate a package that you are satisfied with. You need to this in a discreet manner because your job may not be very secure during this time.
It is advisable to look at any negotiations from a strategic standpoint. Good relations with senior executives may make them more compromising. However, showing them evidence of breaches in your employment rights may alienate them and make them look at the negotiation from a more critical and negative perspective. For these reasons, a great deal of thought must go into how you choose to negotiate.
It is important to note that many former employers prefer to leave on good terms, so this may leave extra room for negotiation, but not in all cases.
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