Employers and employees often wonder about the benefits and drawbacks of employment contracts. Most employees do not have employment contracts. However, contracts may be appropriate for company officers,employees, salespeople and key employees.
Who’s right for an employment contract?
Employment agreements are not for all employees. They should be crafted to fit the employer’s goals and the employee’s specific skills. Thus, employment contracts require the employer and employee to devote energy to crafting the specific terms of the agreement. This often requires the assistance of legal counsel. This extra energy and cost is burdensome, but may pay dividends by establishing a long-term relationship with an important employee.
In order to have a successful and enforceable employment contract, it should be in writing and its terms should be clear. It should address compensation, benefits, job duties, terminatio...(register to read more)