When it comes to an employment tribunal, employers stand more to lose than just potential pay outs. An employment tribunal will require employers to spend a significant amount of time away from their business preparing for the case and for court proceedings. There will be time and costs in legal representation and a tribunal likely to cause a lot of stress and concern throughout the entire process.
The Employment Tribunal Bill recently abolished legal fees for employees. This is likely to contribute to an increase in employment tribunals in the coming years. Our infographic breaks down the real cost of employment tribunals, including how the loss of time and focus on your business can contribute to a financial loss.
Prevention is better than cure and an employee handbook managed by HR professionals is an excellent solution to ensure your employees are up-to-date with the most recent policies and legislation. A fully compliant and robust handbook can help to prevent issues arising and escalating to tribunal in the first place. If you're interested in this effective risk management solution, please call us on 01702 216573.