Subject to parliamentary approval, as of 6th April, there will be significant changes to employment tribunal compensation.
The maximum compensatory award for unfair dismissal increases from £105,707 to £115,115
The maximum basic award for unfair dismissal will increase from £7,386 to £8,533
The limit on one weeks pay increases from £643 to £700 (this is used to calculate statutory redundancy pay)
The increase in employment tribunal compensation highlights the importance of adhering to best practices and laws governing the employment relationship. By ensuring compliance, businesses not only mitigate legal risks but also foster a fair and respectful work environment for all employees.
If you are considering redundancies or terminations of a different reason and need advice please get in touch by emailing us at hello@ricohr.co.uk
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