Fifteen key UK businesses have committed to the principle of mandatory ethnic pay gap reporting ahead of any mandatory government measures. Nearly one year after the introduction of mandatory pay gap reporting for gender, only around three percent of...
A settlement agreement is a legally binding contract that sets out the terms of any settlements that arise out of an employee’s termination of employment. These terms will usually state that an employee accepts a sum of money and a reference in exchange for agreeing not to make a legal claim against their employer.
A settlement agreement is entered into by an employer and their employee (or former employee). A settlement agreement can also be entered into by someone other than an employee or former employee. For example this could be a worker who has a complaint about their holiday pay or an unsuccessful job applicant who feels that they were discriminated against at the interview stage.
An individual settlement agreement can only be signed by two parties and cannot be signed by groups of individuals.