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.
Depending on the company and position, your new employer may not require you to sign a contract. While this sounds like a good thing, as you don't have to deal with additional paperwork, you'll want to think twice before agreeing.
There's nothing more satisfying than receiving an offer of employment. You put a lot of work into the job-search process, so you should be proud of yourself.
Nearly all employment contracts for Michigan executives include details about severance pay should the work arrangement come to an end. It is an important part of building trust between the employer and the executive. However, there are occasions when an employer wants to back out of the severance arrangement portion of a contract.
As a company owner or C-level executive, there may come a point when you're staffed with the responsibility of laying off an employee. This is never an easy thing to do, but it comes along with the territory.
It doesn't matter if you're in the process of reviewing an employment contract or dealing with the aftermath of your termination, it's critical to understand your legal rights and the steps you can take to protect them.
Before you sign an employment contract, it's imperative to review the terms and conditions. If there's anything that makes you uncomfortable, such as the inclusion of a noncompete agreement, you'll want to discuss it with the company before you put pen to paper.
When presented with a job offer, it's easy to get so excited that you agree to anything that's requested of you. This includes signing an employment contract before reviewing the finer details.
If your employment is terminated, you shouldn't delay in reviewing your employment contract and your employee handbook. This will give you a better idea of what to expect in regards to obtaining your final pay and any fringe benefits that are due to you.