Employment contracts

Video transcript:

Employment contracts

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Olivier is asking himself: What Is an Employment Contract? What specifics does a contract for employment typically include? What do I need to know? 

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Don’t worry, Olivier! Let’s have a look at it together!

When you finally get the job offer you’ve been waiting for, it’s a big deal. However, despite all the euphoria, it is important not to forget to read the employment contract thoroughly and of course to understand it before signing it.

An employment contract is a signed agreement between an individual employee and an employer or a labour union. It establishes both the rights and responsibilities of the two parties: the worker and the company.

While there is no set standard for employment contracts, there are common items you should include in order for you and your employee to be clear on expectations.

Here’s what you should include when writing a contract agreement:

• Job responsibilities: A general outline of tasks and duties.
• Duration of employment: Such as seasonal, defined (for example, two years), or indefinite.
• Schedule: Expectation of hours/days the employee will work.
• Compensation: Itemization of salary, wage, or commission initially agreed on.
• Benefits: Any additional benefits that are being offered, such as health insurance, retirement benefits, employee discounts, and so on.

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Now Olivier knows more about the Employment contract.