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Know these crucial elements of your employment contract

On Behalf of | May 7, 2020 | Employment Contracts

Most people in Colorado are at-will employees, meaning that they can be fired at any time and for just about any legal reason. Those who are subject to an employment contract can escape that uncertainty. However, the terms of an employment contract can have long-lasting implications, so before signing off on one you need to understand the terms presented to you and how to negotiate them to your favor.

Understanding the terms

An employment contract can have a lot of terms. While you’ll certainly want to address the major ones, like pay and length of employment, don’t overlook some other issues that can seriously affect you. For example, each of the following may be negotiable depending on the circumstances:

  • Paid time off
  • Healthcare benefits
  • Other insurance benefits
  • Non-disclosure agreements
  • Non-compete agreements
  • Confidentiality
  • Scope of work
  • Work performance expectations

A non-compete agreement, for example, can hinder your ability to find the work you deserve after fulfilling your terms of the contract. Here, you want to make sure that you’re negotiating in hopes of achieving the least restrictive terms possible.

Understanding negotiations

In order to obtain favorable terms in your employment contract you need to know how to properly negotiate for them. To do so, you have to be able to identify the key points that your employer wants in the contract. Then, you can use those points to leverage favorable terms elsewhere. You also should consider what you bring to the company, how badly they need your talents, and competition for your skills.

Don’t leave your future to chance

An employment contract can set the stage for your career for a long time to come. For that reason, you shouldn’t just sit back and accept whatever your employer pushes your way. Instead, have a clear strategy before addressing your employment law matters, including issues related to your contract.