Michigan employment contracts are usually thought of as an agreement you sign when you start a new job. They include the details of your salary, vacation and other benefits you will receive in exchange for the work you are expected to perform. More or less details can be included. But is that really what an employment contract is?
When you switch jobs or consider switching jobs, you probably compare the advantages or disadvantages of one job over the other. If the switch is desirable to you, but doesn't quite meet your requirements, you may be able to negotiate a better deal at your potential new company.
In the wake of the Larry Nassar sexual abuse scandal, the president of Michigan State University resigned from her position of presidency after facing angry and vicious criticism. Lou Ann Simons, claimed it is "only natural that I am the focus of this anger," and therefore she is limiting any personal statements, but was resigning "according to the terms of her employment agreement."
What happens when you don't have an employee contract and you mix work and pleasure? Apparently, nothing good. The founder of Menards building supply stores, John Menard, and his ex-fiancée would probably both attest to this. Unfortunately, when in a relationship, people often overlook the tedious little things like a business contract when they begin working together.
Are you a C-level employee? If you are, you know that your legal needs can be as complex as your job. Your responsibilities are probably much greater than a lower-level employee. Depending on your position, chief executive officer (CEO), chief operating officer (COO) or chief financial officer (CFO), you may be hiring and firing, making stock decisions, doing salary negotiations and overseeing multiple departments or employees.
In Norton Shores, the Mona Shores Public School Board has agreed to pay Greg Helmer, the former superintendent, $82,975.40 in severance pay through June 30, 2018. The agreement was made after Helmer turned in his resignation effective as of Nov. 14. He will also retain his health insurance coverage until June 30, 2018.
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.
When you started your job, you may have signed a special employment contract that dictates the circumstances under which your employment may be terminated. Some of these contracts could leave the issue of "employment termination" open-ended. Others might be general and say that you must be terminated "for cause." Others might reiterate the current Michigan laws related to firings.
There is no denying that women and employment legislation have come a very long way in the executive realm. Despite these ongoing improvements to the nation's employment laws, gender inequality in the executive workplace remains both controversial and concerning.
Losing a job is a disagreeable experience for anyone, to put it mildly. Even executive level employees find the experience unsettling and even painful. Many emotions rise to the surface during this time, and these feelings can have a harmful effect on your final severance package.