| People move from job to job all the time these days. In | | | | expect to have a vacation? Can your vacation days |
| fact, job hopping seems to be more popular now than | | | | be accrued? Will you be paid in lieu of a vacation? |
| ever. This has become a huge problem for many | | | | These are all things that you can expect to find in this |
| companies because they are finding it harder and | | | | section of your employment contract. |
| harder to keep key employees. Because of this, | | | | Benefits, including life and health insurance, and any sort |
| employment contracts are becoming more and more | | | | of pension plans you can expect your company to |
| complex in an attempt by the companies to keep a | | | | provide will be found in this section. You can also find |
| hold of their employees. | | | | information on relocation expenses especially if you will |
| But there is a golden lining. Because companies are so | | | | be moving to your new job from another area of the |
| keen on holding on to their employees, you can | | | | country or world. |
| negotiate a better employment contract in many | | | | Next you can expect to find a section on termination. |
| cases. There are benefits and disadvantages for you | | | | We don't like to think about this but it's good to be |
| and the company when it comes to signing an | | | | spelled out before hand in your contract exactly what |
| employment contract and I'm not going to go into these | | | | circumstances will lead to your termination. It will |
| in any sort of detail in this article, just keep in mind that | | | | probably also discuss how you yourself can terminate |
| there are pluses and minuses involved from your point | | | | your employment contract; making it a very important |
| of view and also from the company's point of view. It's | | | | section. |
| not a bad idea to try and look at it through the eyes of | | | | Expect another section on severance pay. Will you |
| the company, but that's a subject for another article... | | | | receive a golden parachute if you get fired? Under |
| So what should you expect to find in your employment | | | | what circumstances will these things occur? |
| contract? In other words, what should you expect to | | | | You should also find a disability provision that discusses |
| find in a normal employment contract? | | | | exactly what happens should you be unable to |
| The first thing you'll find is the "term". The term | | | | continue your employment due to disability; as well as |
| indicates when the contract should begin and when the | | | | what does and what does not constitute a breach of |
| contract should end. Many if not most employment | | | | contract when it comes to disability. |
| contracts tend to run from 3 to 5 years. | | | | Finally expect a clause that discusses perks. Will you |
| The next thing you'll find are your specific duties. Some | | | | be receiving an expense account? What about a |
| people call this a job description. This is a very | | | | limousine or club membership? Will you have to sign a |
| important part of any employment contract because it | | | | noncompete provision or arbitration clause? Will the |
| is the basis for any employers claim to fire you "for | | | | company buy your old house from you in order to |
| cause". Many times this section will be generic or | | | | relocate you? These are all things that fall under the |
| general in nature, but for your sake you want it to be | | | | category of perks. |
| as specific as possible. | | | | Well there you have it... these are the main things you |
| The next thing you'll find is a section on compensation. | | | | can expect to find in any employment contract. They |
| How much will you earn? This usually discusses the | | | | are all negotiable, so keep that in mind before signing |
| minimum salary as well as lays out any bonuses or | | | | anything. Depending on the level of the job and the |
| stock options and things of this nature that you can | | | | amount of compensation, you may wish to speak to |
| expect. | | | | an employment attorney who specializes in |
| The next thing you'll find is a section on vacation time. | | | | employment contracts. |
| How often each year and for how long can you | | | | |