Legal View; Business continuity planning: Seven steps to success

As a business owner you have devoted significant time, efforts and commitment for many years to your company.

But, before you know it, retirement is looming or external factors such as family or health matters precipitate the need to hand over the company reins.

Here are some of the HR and employment law aspects to consider and implement from our Legal View feature:Employee exits

• Take time to consider and evaluate your staff, and to take action.
• Termination of employees’ contracts can be justified for poor performance, providing a fair process is followed and your company acted reasonably.
• The use of a settlement agreement can result in a prompt, amicable and commercially advantageous outcome for your business.

• Take action to ensure you retain the right staff in the business by promoting key personnel and varying terms of employment by offering incentive schemes.
• Review contracts of employment or service agreements and issue new ones, but employers are obliged to consult an employee and obtain their consent on changes to key terms.