That single word might outweigh all others for any company principal or worker searching for an apt descriptor to underscore why executing an employment contract often makes sense in an employer-employee context.
A national publication that recently addresses some essential points concerning an employment agreement stresses the importance of such a contract for both hiring entities and new workers. It duly notes that a soundly tailored contract provides each side with "a blueprint to work from as they establish a professional business relationship."
Indeed, a well-crafted employment contract is broadly beneficial for all signing parties. For starters, it immediately reduces uncertainty and ambiguity in the work relationship between a worker and employer in New York or elsewhere. Among other things, such an agreement can closely address matters such as these:
- Salary essentials, including matters addressing incentives, bonuses and other relevant points
- General company benefits, running from corporate-sponsored retirement plans and paid-time-off parameters to health insurance and more
- Performance reviews and related competency-linked information
- Work duties and expectations
Many employment agreements actually go far beyond stressing those bulleted points alone. Select enterprises have a strong need to safeguard propriety information and trade secrets, and often address such concerns via non-disclosure provisions in an employment contract (either as a stand-alone document or used to supplement a separate agreement focused solely on that subject matter). Employment contracts also often contain non-compete provisions linked with a departing worker's next-stage employment.
The bottom line with an employment contract centrally underscores its wide applicability for both company owners and workers. The above-cited media overview stresses the importance of having "a qualified employment law attorney review a contract, or even assist in its creation."