While most employers understand the benefits of providing new hires with an employment contract, this doesn't necessarily hold true across the board. There will always be companies that want to skip this step for one reason or the next (all of which benefit them).
As a new employee, you sign a contract with the idea that it will protect both parties while providing important information regarding your employment.
You're so excited to receive a job offer that you throw your employee contract to the side and begin to celebrate. While it's okay to be happy for yourself, don't do anything else until you review your contract.
When you receive an offer of employment, it's natural to turn most of your attention to the here and now. You'll focus on how much money you're earning, the potential for bonuses and the number of vacation days you receive.
Depending on your profession, you may tinker with a variety of ideas. In fact, you may even have the responsibility of creating new products for your company.
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.
Some employers negotiate severance on a case-by-case basis, while others have a formal policy in place.
In recent decades, more and more Michigan executive employment contracts have begun including an arbitration clause. This means that the two parties -- employers and employees -- agree to settle any contract disputes or violations outside of a courtroom. When you sign an employment contract containing an arbitration clause, you could severely limit your legal options if a dispute arises.
Upon receiving an employment contract, you'll turn your immediate attention to details such as compensation, benefits and paid time off.
Executive employment contracts can be simple single-page documents or complex agreements with many different clauses. As executives in Michigan and other states become savvy about the agreements they sign, clauses designed to protect all parties are becoming commonplace.