Mentioned the core of job agreement along with its essentials
Job agreement is used when extending a formal offer of employment to an applicant. Though, there are no legal requirements for notifying a candidate about job offer in writing but many employers choose to do so to maintain a profession etiquette.
A typical job agreement serves the purpose for retaining the best talent pool available with the organization as industries are volatile in terms of talent retention.
Essentials of an employment agreement can broadly be classified as follows:
- Rate of pay
- Severability clause
- Specified probation period
- Statement at will nature of agreement
- Termination clause
- Confidentiality agreement
- Non compete agreement
- Industry specific or company specific required information
Importance of terms and conditions of employment
Overall terms and conditions are important as these gives employers and employees where they stand. Disputes and arguments can happen less due to what is on the terms and conditions such as basic pay, hours of work, leave policy etc. It is also important to carefully draft the employee statement of terms and conditions which can prove to be harmonious for industrial piece and growth of both the parties.
Job stability important for talent retention
Benefits and job security, when it comes to improving your financial stability and keeping your career goals on track is the most important thing for an employee. Employee who settles in a long term position are likely to achieve their career aspirations and
goals and this will positively affect their personal life, productivity towards the employer and financial situation also.