You may have received an offer from a company you’ve always wanted to work with, or maybe this is your first job.
While this makes you feel all fired up and ecstatic, it’s extremely important to pour over all the things mentioned in your contract before you sign it so that you don’t kick yourself over it later.
Here are 5 points you must look out for before you set your hand to the contract:
1. Salary and Incentives
Cross-check whether the salary on the contract matches what was mentioned in your offer letter. Most companies offer incentives and other benefits such as medical care, pension, bonuses, gift certificates.
Bonuses can be either performance-based or be put on ice after a certain period. Make sure that you check for this information in your contract.
2. Working Hours
This is one of the most important things to consider before you commit. You must know the number of days you’ll be working in a week, your day off, whether you’ll need to show up on weekends or work in shifts.
Remember to also check for payment terms for working overtime. If you disagree with the conditions, try to negotiate before signing the contract itself.
3. Work Location
If you have discussed flexibility with respect to working from home on certain days or in certain situations during your interview, it should also be mentioned in the contract.
Your job might require you to travel frequently and work across branches in an unfamiliar country, so check for this point as well.
If you protest it later, it might affect your pay significantly.
You need to check if you are forbidden to take holidays during peak periods such as Christmas.
Also, make sure that you know the number of paid holidays you’re allowed to take annually and whether the balance holidays can be carried forward into the following year.
5. Job Role and Position
You should know what’s expected of you at work. Check whether the job responsibilities written in your contract countertype with the role you’ve applied for. Furthermore, remember to check for any errors in the title/position.
Do remember to check these 5 points before accepting any offer letter.