If you are getting ready to hire an employee, you want to make sure you aren’t going to invest a significant amount of money into training and hiring them to find that they turn around and leave you high and dry. These kinds of situations can totally be avoided when you use a written employment contract to safeguard your investment. While not all employees will require a written contract, there are certain situations that can benefit from this. Mecham Dicus & Company is here to talk about the many ways your business may benefits from written contracts with your employees.
What are the Main Things that Should be Included in a Contract of Employment?
In a contract that clearly states what is expected out of your employer/employee relationship, you will want to include several bullet points. Here is what you should include anytime you are writing up one of these contracts.
– The amount of time you expect the employee to work for you. This could be one or two years and can even be indefinitely.
– Clearly lay out the responsibilities the employee will have.
– If you will be providing benefits for the employee such as insurance, vacation leave, retirement, disability leave and so on, you will state it in the contract.
– State grounds for termination.
– After the employee leaves, you may want to state the limitations the employee has to compete with your business.
– Protections for your trade secrets and client lists.
– Your ownership for all work produced by employees should be included in the contract.
Pros of a Written Employment Contracts
There are several benefits that you can have as an employer when you create a written employment contract between you and an employee. There are times that you have an employee that is doing specialized work for you. Perhaps you are having them write a book, design and create gadgets, whatever you are having them create, you want to make sure you own it. Sometimes, the work is so specialized that it takes a long time to get them trained at the job, and you don’t want to put the time and money into training them to find that they leave you high and dry. While you can’t force anyone to work for you, when they sign that agreement, they are more likely to follow through rather than face the penalties for not doing so. It is important to note that while an employment contract can be beneficial, it can also hold you accountable as well. It leaves you with less wiggle room to make changes and isn’t a one-way street.
New Business Advising & More in Salt Lake City, St. George, West Valley City, Provo, Orem, West Jordan & Greater Cedar City, Utah
If you are starting a new business and would like some advisement to ensure all your t’s are crossed and your I’s are dotted, you can turn to Mecham Dicus & Company to help you get up and going. We will help you navigate everything that comes with a new business. Call us today!