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I was hired by a big company. Should I ask for an employment contract?

This is an important question and learning experience for your first job.  Making the case to a new employer for an employment contract can be a bit awkward if it is not first offered to you first. But the conversation is an important one, as these agreements can offer a number of benefits for both employer and employee. They typically lay out the terms of the job description, what is expected, and certain legalities designed to protect both parties. However, it is a real written contract and now you are both bound by it.

There is no actual requirement that you have to enter into a legally binding contract with your employer, but there are a number of situations where it can be advantageous, explain managers at United Industrial superstore. The agreement will detail your job description in full and how performance is evaluated. This is good for you as you will know your boundaries within the working environment and what is expected of you. It will also explain your salary and benefit package highlighting how raises, bonuses and benefits are obtained. This gives you clear goals without ambiguity.

Other policies included in your contract will be vacation time, sick days and general time off. You will be able to plan ahead and know where you stand on things like unpaid leave or time off for family matters. Your employment status will be classified, as there is a difference between independent contractor and full-time employee, so your taxes and insurance will be clearly defined.

Terms of employment and termination conditions will be defined so that you know what is required by either party to terminate the agreement. There will be a notice period and possible severance pay if they need to make you redundant for any reason.

On the flip side, an employment contract is usually quite specific. Your employer can use it to define the conditions of your working life and you may not have a lot of input. Disciplinary action can be taken if your manager feels that you are in breach of contract at any time.

It is highly likely there will be non-disclosure or confidentiality clauses in the contract which will prevent you discussing sensitive work matters outside of the workplace. A non-disclosure agreement not only protects the company, it reinforces the relationship between employer and employee. Webmasters at Big Acrylic state once you are in a position of trust, you gain access to knowledge and clients controlled by your company, which can lead to a promotion and higher salary.

As an employee, there are likely to be guidelines in your contract covering how you use social media. Companies and management do not like being discussed by employees on social media, so be aware of what you can and cannot post online. There may be additional rules on internet usage during working hours, which will all be in your contract.

An employment contract is a two-way street, with benefits for you and the company. You get some extra security and will be fully aware of what is expected, and the organization has a little more control over its workforce.

A verbal contract isn’t worth the paper it’s written on…

Sam Goldwyn.

Written by John Regan, former Director of Sales, for equity research.

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