Amendment to contract - notice period

[Shouldisign]

I have been with the company for well over two years. My original contract states one months notice on both side.
They want all senior management to agree to a contract amendment to three months both ways.
What are the advantages / disadvantages for me in signing this?
For clarity. I currently work part time and it is possible that sometime in the future, the company may be bought out by a larger company.

Advantage is if they want to make you redundant they have to give you or pay you 3 months notice so there is financial security in that. Downside is, unless you can negotiate a shorter notice period, it ,out out off potential future employers who can't wait for you. But in my field 3 or 6 months is the norm so that wouldn't be an issue.

Benefits are if they let you go you get 3 months notice, either Paid in lieu or working while looking for another role. If the company is likely to be bought out or restructured then id opt for the extended notice period.

Does the notice they have to give you increase with time served? In an old job iAd to give a month but my time there meant they had to give me 3. They wanted to change mine to 3 so I had the discussion “what’s in it for me” and they never came back to me or changed it, I later resigned with a months notice.

To get 3 months notice other than contractual obligations, the OP would need 12 years continuous employment. Notice on the employers side, unless contractual, is 1 week after one mont and up to two years; then an addiational week for each complete year up to a maximum of 12. If the OP has less than that service, it would be wirthwhile increasing the notice to the requested 3 months.

Whilst the employer can insist on full notice, many wouldn't - it is often negotiable. You need to be aware that you should allow for full notice to be served if thinking of moving, but equally, many employers respect notice periods because if they don't respect it when you join then you could dump them without proper notice if it suited you - and few good employers want that either. If a new employer wants you enough, thenthey will wait; if they won't, that might tell you something about them that is worth knowing.

Hence why I asked the question, because my contract meant my notice was 3 months as it went up across my time there per that rather than legal obligations.

That's very interesting. I have been with the company over 12 years so does that mean they have to give me 3 months notice legally even though my contract says one month, but I still only have to give one month? Or have I totally misunderstood that?

Yes they must give you twelve weeks' notice

I have had a look into this, spoken to a couple of people and I will ring ACAS later today. From what I can gather, the company would only have to give me one month’s notice, but would have to give me 12 weeks pay.
Therefore, I can see no advantage to me at all to accept this change in terms. Other than, if we do get taken over, the new company could see me as a ‘problem’ employee for not agreeing to the change, which may give them that extra reason to ’re-structure’ me out if they want to.

It doesn't sound like they are offering any benefits to you for this change. Is this the only contact amendment?