If you are in the process of negotiating a job offer, your new employer may require you to sign an employment contract once you have officially accepted the offer. In most cases, an employment contract covers a range of issues, including salary, benefits, paid time off, and terms and conditions of employment.
While it can be easy to get caught up in the excitement of celebrating a new job, you should avoid signing the contract until you have had the opportunity to thoroughly review the document and discuss any questions or concerns you may have with your new employer. Some employment contracts include legal jargon that can be confusing or misleading, so it is highly recommended that you consult with a lawyer who can review the contract and negotiate the terms if necessary.
What Does an Employment Contract Include?
An employment contract is a legally binding document that addresses key aspects of your job. It is an important tool for both employers and employees because it addresses a range of important issues, from salary to the terms of the employment relationship. The following are some of the most important aspects of an employment contract:
- Job description: It is important that the job description is thorough and detailed so there is no confusion on what is expected of you. If you have questions about the job description, make sure that you ask your prospective employer to provide clarification.
- Term of the contract: In addition to the job description, there may be a term on the contract. It is important that you understand the specifics of the term and the grounds for termination before you sign the contract.
- Restrictive covenants: These are tools that businesses often use to protect their interests. Restrictive covenants, including non-compete agreements, impose restrictions on employees during and after their employment. It is highly recommended that you review your contract with an employment lawyer.
- Compensation: This aspect of the employment contract is extremely important. In addition to your salary, this portion of the employment contract may include information about profit-sharing plans, bonuses, and equity awards. This should also provide details about performance reviews and how you can increase your compensation. If your employment contract is unclear about salary or opportunities to increase your compensation, do not sign the contract until your questions and concerns have been addressed.
What Are the Pros and Cons of an Employment Contract?
Employment contracts have a range of benefits that protect the interests of both the employer and the employee. However, there are some drawbacks that you should be aware of as well.
- Advantages of employment contracts: The main advantage of an employment contract is that it provides clarity about the terms of the employment and other key aspects of the job. It also protects the legal rights of both the employer and the employee.
- Disadvantages of employment contracts: One disadvantage is that employees may have less flexibility to change the terms of the contract once it has been signed. In addition, if the contents on the contract are particularly restrictive, it could limit the employee’s opportunities within the company.
South Jersey Employment Lawyer at The Law Offices of Leo B. Dubler, III, LLC Assists Clients With Employment Contracts
If you are starting a new job and your employer requires you to sign an employment contract, it is in your best interest to contact our South Jersey employment lawyer at The Law Offices of Leo B Dubler, III, LLC. We will thoroughly review the contact, determine whether it protects your interests, and negotiate the terms of the contract if necessary. To schedule a free consultation, call us at 856-235-7075 or contact us online. Located in Atlantic City and Mount Laurel, New Jersey, we serve clients throughout South Jersey, including Cherry Hill, Burlington County, and Camden County.