It is exciting to be the chosen candidate for a new job, and the next step is reviewing your employment contract. Clear, concise language is very important in the drafting of an employment contract. As a potential new hire, you have rights to protect.
You want to be sure that you understand everything the employer has included in this document and are satisfied as to the description, requirements and benefits concerning your position. Here are five elements that should be present in the contract your new employer wants you to sign.
1. Job description
Of primary importance is a clear description of the position you expect to fill including the requirements. The employment contract should set forth the job title, the location and the hours of employment.
2. Performance goals
The contract should also clearly lay out the performance goals for your position. For example, if this a sales position, the agreement should state the sales volume the company expects you to produce and the kind and number of new clients management wants you to bring in.
3. Benefits
As a new employee, you will want to know about the benefits package. Included should be a description of the company health care plan as well as the percentage you must pay for coverage. Other benefits might include information about holidays and vacation time, the company profit-sharing plan, retirement plan and stock options.
4. Compensation
The contract should describe the compensation you will receive, not only the amount but the type: salary, hourly pay or commission. This section should also include the company’s overtime policy and the compensation you can expect for putting in extra time at work, if required.
5. Length of agreement
The contract should contain the original employment term and address the conditions that would extend, lessen or terminate the term of the agreement.