Published on December 20th, 2022
You may have landed a new job and are excited about it because it has many benefits or opportunities. However, before entering any employment contract, you must be on the same page with your employer to avoid any trouble or misunderstanding.
Whether you are getting into your first employment contract after med school or are subject to being promoted to a higher position, you should read and understand the fine print of your contract.
If you are a doctor, it would help if your contract went through a physician contract review. In addition, a written agreement is necessary to state the employer’s liabilities and responsibilities, roles, and job security.
Checking the contract details before signing is also significant. Look at the essential information to ensure your employment contract covers everything.
Employment contracts are sometimes different, so even if you had a contract in your previous job, it is important to still look at the new contract offered at your new job. The following are some things to look out for in your new contract.
The Type Of Work And Position
Among the essential things, this is by far the one you should check. The position you applied for should be the same one listed in your contract, also included should be the type of work you will do and other requirements of the position.
It is crucial to have a breakdown of what your responsibilities are so that you can access your capacity and skills.
If you find yourself doing work or tasks that do not match the one on your contract, bring the issue up with your human resource manager or hiring manager. You must find any discrepancies early enough before you even sign the contract.
Starting Date And Work Hours
This one is significant, particularly if you are switching jobs. You must ensure that the date you begin work elsewhere does not coincide with the day you start elsewhere.
Give yourself a reasonable time to sign off from your other job so that you start working with another organization.
After the working date is confirmed, look at the operating hours. This should be fine if you are a contractor, as the working hours are customized.
You can deny or accept work requests depending on the time you have to work on a project. Ensure that your working hours match expectations and are practical to keep you stress-free and as productive as possible.
The Salary, Benefits, And Bonuses
This is a vital thing to have in your contract and a sure reason to cause conflict if there is any misunderstanding. Look at the payment methods offered and when the salaries are released.
If payment involves commission, your employer should clearly state the percentage. Bonuses that you ought to receive should also be there.
Some companies offer other comprehensive packages if you are permanently employed; this might include healthcare, pension, or any other benefits.
Termination And Severance
This involves everything entailed when your employment ends; it includes what can cause the termination of your job and pay.
There are also restrictive covenants, which take effect after your employment, but you still need to look at them before signing the contract.
The purpose of these restrictive covenants is to protect your employer, the entire business, and your clients. These restrictive covenants can come from non-dealing, non-solicitation, non-poaching, and non-compete clauses.
Check if the contract elaborates and defines the type of business, sectors, or geographical limitations. You might be wondering why some of these restrictive covenants by employers are in such a way that they have the potential to impact your future negatively. For example, you might be unable to work for a competing business after the end of your contract.
Sick Leaves And Holiday Pay
You will have to take breaks from your job at some point, whether for a holiday or because you need sick leave. First, look at your contract before signing it; seeing what it says is essential.
Next, look at the days you have as your holiday period and check whether there are any limitations regarding the holiday, as companies allow holidays during certain times of the year.
Finally, remember to look at the sick leave and check whether you will receive pay during the holidays and sick leaves.
While getting into a new job or position, you need to look out for yourself, and your contract is one of the essential tools that will protect you from exploitation and ensure your best interests.
We hope this article has helped you understand what needs to go into your contract to keep you in the loop.
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