You’re closer than ever to landing that executive position you’ve been chasing for so many years. The last thing you have to do is review your employment contract and sign on the dotted line.
As excited as you may be about pushing forward, you should never sign an employment contract until you first review it in great detail. Here are some of the many areas to focus your attention:
- Job description: Make sure you’re being hired for the job you thought you were getting. The job description should be clear, thorough and free of misleading information.
- Restrictions: For example, some employment contracts have a non-compete agreement, meaning you can’t obtain a job with a competing company for a specified period after you leave your current position.
- Compensation: This should include all details pertaining to your compensation, such as how much you will earn, your payment schedule, commission payouts and bonus structure.
- Benefits: Just as important as compensation, your employment contract should clearly outline the benefits you’ll receive, such as medical insurance, disability insurance and retirement plan matching.
When you keep these details in mind, you will find it easier to review an employment contract with confidence.
Should you come across any areas of concern, ask the company to explain them. If they’re unable to do so, it may be a red flag that you should continue your job search.
Never forget that you’re in charge of the situation in front of you. You have the power to review your employment contract, ask questions and negotiate changes if necessary.