An employment contract is an agreement between an employer and employee that sets out terms and conditions of employment binding the job roles.
While signing the job contract, make sure that you read the full term and conditions clearly before signing. Don’t agree to working hours you will regret. Negotiate terms prior to joining so that you later do not feel low about your decision.
Generally the obvious reason behind taking decision in haste is one may be ecstatically happy about getting the new job or it would be the first foray in the corporate world.
If the hefty salary tempts or lures you, does not mean that you skim through the job contract. Whatever is the case, whatever is the condition, it is always advisable to sign the contract only after reading it.
You must Consider and Follow these things before signing Job Contract :
- Job title and responsibilities:
Before signing up the contract, it is important to know about the exact job title and the responsibilities to be handled with that job title and which was told you during your hiring. The job description is expected to be broad and wide in order to have the clear perception of what task you have to do so clearly read all the job roles and responsibilities.
- Place of work:
While signing the contract make sure that the geographical location you have been told to work in same in the contract letter. Check if there is possibility of working from remote location or facility of working from home.
- Salary, benefits and bonuses:
Make sure your employment contract reflects the relevancy to your offer letter. Check there is provision for payment of other benefits that have been agreed and the salary in your contract letter is as same as you have discussed.
Check if bonuses are guaranteed or discretionary for regular intervals or time period as discussed. If based on performance, there should be set targets and an understanding of who decides whether the objectives have been met.
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- Hours of work:
Agreeing for the long working hours in the greed of getting high salary makes a person regret at a later stage. If you think the working hours are too long, then optimal solution is to negotiate for the variation and demanding some flexibility or liberality.
- Leave during the Employment:
This is most common point which any employee would want to look for and know in detail about. Every company has some limitation on the amount of leaves an employee can take. Make a proper note of list of holidays so that you can plan your vacations accordingly without taking any extra leaves.
- Restrictive covenants:
The covenants are of importance only when you have left job. But they can create huge impact on the future job prospects or the career development. It is important to not overlook the terms mentioned in the clause; consequences faced after leaving the job can harm your future prospects.
- Notice:
Check if the notice period is not unduly long or short. One to three months’ notice period is usual for most of employees. Both too long and too short notice periods have their own advantages and disadvantages. The latter hinders in terms of stability while the prior hampers to take new job.