September has seen the introduction of the controversial Employee Shareholder Scheme, whereby employers can offer no less than £2,000 in shares to employees in return for them giving up certain employment rights. It is intended to be a separate form of employment status.
The Employee Shareholder will waive the right to claim unfair dismissal (apart from automatically unfair dismissal or where it is based on discriminatory grounds or in relation to health and safety), a statutory redundancy payment and certain other statutory rights.
It is of course a little more complicated than this so if you would like more information please contact Marsha Robinson on 01245 216114.
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