Settlement Agreements can be useful in many scenarios.
The common ones are:
The benefit of a Settlement Agreement is that the negotiations may not be admissible in a tribunal. If the Settlement Agreement is agreed upon this gives the employer complete peace of mind that no claims can be brought against them.
However, this does not mean you have a silver bullet solution.
The legal rules concerning admissible evidence are deeply complex and we would recommend that you get legal advice before proceeding, particularly if the impact to your business is going to be high.