Executive employment contracts can provide you with a great deal of protection in Detroit’s corporate arena. After all, the contract’s provisions bind both you and your employer legally. This can make it challenging for “big bosses” to force executive employees out of their positions, but it can still happen.
Your best source of protection from unethical activities on the part of your employer is your executive employment contract. Before putting your name on the bottom line, it is wise to seek legal counsel in order to make sure your contract is airtight. An employment attorney will review your contract with a critical eye to ensure it provides you with the greatest amount of protection possible.
In the meantime, here are a few signs that your company wants you out.
- Suddenly and/or repeatedly passed over for prime projects
- Changes in the way performance evaluations are conducted (e.g. increased documentation or a sudden lack of feedback)
- A new CEO (Chief Executive Officer) begins to make staff cuts
A business merger could also be a time of worry for executives. Often, when companies merge into one, staff cuts or activities designed to make staff members want to quit can occur. In many cases, this happens because of role duplication, meaning that there may now be too many executives filling certain roles.
Again, look to your employment contract to see what kind of protections it can offer you if severing your business relationship becomes a reality. A good contract will spell out critical issues such as severance packages and termination provisions. This can prevent you from inadvertently violating a contract, which could leave you without an income and looking for work at the same time.
Source: Fortune.com, “5 signs your company wants you to quit,” Ryan Derousseau, accessed Nov. 03, 2017