In general I'm a big fan of the settlement agreement. There are times when the employer (or sometimes the employee) knows they don't want to continue the employment relationship, but putting themselves and the employee through the stress and strain of a drawn out process is rarely pleasant for anyone involved.
This is where the Settlement Agreement comes in.
The employer can propose to the employee (or vice versa) that rather than going through the disciplinary, redundancy, grievance, performance or what ever other process is in the offing, the employee can instead elect to take a settlement payment instead.
A settlement (used to be called compromise and is basically the same) agreement is the only way that an employer can lawfully make an employee agree to waive their rights to bring an employment claim.
I routinely help employers, and sometimes employees, to draft the scripts for these conversations, draft the agreements and support the process to conclusion - and it doesn't have to involve offering high sums of money.
If you'd like to find out more then drop me an email or give me a call.