Employment contracts have a number of advantages, but given the complexity and issues involved, these written agreements are usually reserved only for key employees.
The main reasons employers push for an employment contract is the agreement’s potential for attracting and retaining key employees and protecting critical trade secrets.
Employment contracts outline the exact nature of the business relationship and include specifics about compensation the employee will receive in exchange for the work performed.
The downside of an employment contract is that the contract binds both you and the employee, which can cause challenges for you if you later decide you want to alter the terms of employment. |
