The Importance Of Reading A Contract Before Accepting A Job Offer

“We’re excited to inform you that you’ve been hired as country manager. Welcome on board!”

This is an email that many of us dream of receiving one day. But if you’re one of the lucky ones who managed to land a job in their dream company, congratulations!

Before you start to celebrate your new life, though, you need to complete all the paperwork that comes with it. This step is perhaps one of the most crucial stages when accepting your job offer. Knowing what the employer expects from you and what you can expect from them will save you a lot of trouble in the future.

Accepting a job offer requires you to sign a contract. This contract can be filled with legal jargon, which you might not understand under pressure.

The following are some reasons why it’s essential to read a contract before accepting a job offer:

Find Out If You’re An At-Will Or A Fixed-Term Employee

Job security is a crucial aspect of ensuring financial stability for yourself and your family. Employers are legally bound to indicate whether their employees are at-will or fixed term.

At-will employees can resign and be fired at any point without any repercussions. However, fixed employees come in for a set number of months or years, and are required to complete the assigned project’s goals and leave.

You need to know under which employment banner you are being hired. You wouldn’t want your company to fire you without notice for a project that was supposed to last three more years.

The Reasons Behind A Probable Termination

Knowing what basis an employer can terminate you on is essential. It can help you to protect yourself from termination.

Within the termination clause, you should also look for the consequences of at-whim termination and the provision for severed payments.

The Benefits And Compensation

You aren’t working just for job security. You’re working for financial stability and the protective compensations and benefits it brings with it.

While reading the contract, make sure that your base pay is accurate and is exactly what was communicated to you. You can also inquire about benefits and bonuses that your employer provides.

All of these are essential questions that need to be answered before you sign your contract. A contract is a legally binding document through which you can hold your employer responsible if something is not according to it.

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Sources:

https://business.tutsplus.com/articles/questions-to-ask-after-job-offer--cms-29457

https://www.thebalancecareers.com/what-to-consider-before-accepting-a-job-offer-2061409

https://www.glassdoor.com/blog/how-to-read-offer-letter/