Employment Contract Reviews: A Small Investment That Saves Big Money

Employment disputes can drain your business of time, money and energy. But here’s the good news – many of these costly battles can be prevented with a simple habit: regularly reviewing your employment contracts. In this blog, we’ll explore why this smart business practice could save you thousands of pounds and countless headaches.

Why Review Employment Contracts?

Employment laws change frequently, and your contracts need to keep pace. Out-of-date contracts can lead to misunderstandings, disputes, and costly tribunal cases. Think of contract reviews as an MOT for your business – a necessary check-up that keeps everything running smoothly.

Key Benefits of Regular Reviews of Employment Contract:

Money Savings

• Avoid costly employment tribunals
• Reduce the risk of compensation claims
• Save on legal fees from disputes

Clear Expectations

• Both employers and employees know where they stand
• Fewer workplace disagreements
• Better working relationships

Legal Compliance

• Stay up-to-date with current employment laws
• Protect your business from penalties
• Show you’re a responsible employer

When Should You Review Contracts?

We recommend checking your employment contracts:

• At least once a year
• When laws change
• Before promoting employees
• When changing company policies

Simple Steps to Take:

1. Set a yearly review date
   
2. Check recent law changes
   
3. Update any outdated terms
   
4. Get legal advice if needed
   
5. Share updates with staff

Need Help?

Don’t wait for problems to arise. Our team at Davenport Solicitors can help you review and update your employment contracts. It’s more affordable than you might think – especially compared to the cost of disputes.