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Having a fair and balanced employment contract is the key to ensuring that your employment rights are protected. Your negotiating platform is likely to be at its strongest at the outset of the employment relationship. Many employees with the benefit of hindsight tell us that they should have taken a closer look at their employment contract before taking on a role. It is wise to review thoroughly an employment contract in advance of acceptance of a new position so that you are happy with the terms and can negotiate any potential amendments from a good position if necessary. Vardags’ employment team has extensive experience reviewing contracts to ensure the best possible outcome for our clients.
If you would like your employment contract reviewed at any stage during your employment, because your role is changing or the company is experiencing change and you want to safeguard your position, we can assist you with this also.
An employment contract review before accepting a new role can be invaluable. Your new employer may expect an element of negotiation and this could be the best opportunity you have to negotiate favourable terms at the recruitment stage.
Clearly, remuneration and benefits is likely to be a key point in the employment contract but there are many other clauses which could assist an employee at future points in the employment relationship.
The length of your notice period should be appropriate for your seniority and give you some protection if things do not work out in the early stages to give you sufficient time to secure a new role. The notice period could be short during a probationary period and this should be considered.
Restrictive covenants should be reviewed for reasonableness at the outset.
Bonus and commission terms should also be analysed as well as good/bad leaver provision in stock option schemes.
If your restrictive covenants go further than is necessary to protect your employer’s business interests, they may be unenforceable. Restrictive covenants should not exceed 12 months in duration and this would only be appropriate for senior individuals in an organisation.
We are well placed to provide you with a view as to whether your employment contract is in line with industry norms. We are able to obtain market data on this where necessary.
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If you need to speak to us immediately, our confidential enquiry line on 020 7404 9390 is staffed 24 hours a day, every day of the year.