Employment contracts are one of the most important things when entering a new deal with a company. After the hiring process, both the stakeholders, that is, the company and the employee, are bound by a contract, which is known as the employment contract.
There are many important points that you have to consider while negotiating with the company regarding employment contracts. In this article, we will discuss what important points you have to consider while dealing with employment contracts and how they can act as the employee survival guide for you.
What is the Employment Contract?
An employment contract is a legal document which sets out the terms and conditions of your employment with your employer. In this contract, there will be detailed information about the title of the job, duties, working hours, salary, and holiday entitlements. There will be inclusion of perks and benefits in this document along with details of healthcare provisions.
It is different from an offer letter, and therefore, you should not use it interchangeably. An offer letter is given when you have to join the company, but the contract is signed once you have accepted the offer and start working in the company.
What are the Five Tips for Negotiating a Better Contract?
- Be Confident about Flexibility: You should negotiate for a flexible schedule, like working from home at least a day a week. This flexibility will help you feel more independent and also increase your productivity. Therefore, this is the first thing that you should negotiate with your employer.
- Be Prepared to Deal for Paid Time Off: Human beings also need to recharge their batteries before going back to work, and therefore, in this case, the demand for more paid time off is increasing among employees. Therefore, you should negotiate with your employers for more paid time off to increase your productivity and also to take a break from the monotonous life.
- Be Clear About Your Priorities: You should be clear about your priorities during your discussion. Always outline your priorities at the beginning of the discussion and also hear the other party. You must ensure that the contract is agreed upon at the point where you and your employer have similar future goals and values. You may not agree with all points, but you should know about your and your company’s priorities.
- Do Your Homework: You should always do your homework about the company, its place, status, company rules, policies and other details. This will make you understand how much you can negotiate with your employers and whether they will be able to fulfil your demands.
- Be Confident and Be Prepared to Walk Away: You should be confident about your demands, and if there is no settlement about your demands, you should be ready to walk away without much compromising about your priorities.
