Employment Contract Considerations

Going to work for a competitor or troubled company

When going to work for a competitor or a troubled company then there are some financial considerations that have to be taken into account.  First and foremost assume the job will only last a year and that you will need to look for another position while you are out of work.  Given that assumption an employment contract is a must.

Employment contract

The employment contract has everything spelled out including grounds for termination, payments, insurance coverage, re-location (if you move), out placement services, and what can be disclosed.  Attorney’s fees should be covered, in additionyou should retain the right to select the attorney to be used.

Signing bonus

Bonus should cover lost benefits at current place of employment such as vesting and unpaid bonuses.  In addition there should be some amount for the “risk” taken for leaving a “sure thing” and going to a competitor or a troubled company.

Relocation Expenses

Expense should include cost differential if you are moving from a low cost housing market to a high cost market.  Moving travel expenses, broker commissions, pre-payment penalties, interest rate differentials and moving expenses for all items such as extra cars, boats, RVs etc.

Performance Bonus

Bonus should have two components short term 12 to 18 months and long term 3 to 5 years.

Termination & Compensation

The contract should cover what will be paid by whom and when. For example if you were moved will they move you back, will they pay for outplacement, status of your bonus, recommendations, and insurance coverage after termination.

Changing jobs is risky business.  Janco Associates, Inc. can help you in the process.  We can act as your agents to help you negotiate your contract or advise you on what you have been offered. 

For foriegn assginments there are special considerations, click here

 For more information see http://www.e-janco.com or http://www.ejobdescription.com  
+1 435 940-9300.

IT Job Descriptions  IT Hiring Kit Interview Hiring Guide IT Salary Survey
Download Salary Survey




IT Employment News

The Ultimate Software Group, Inc. (ULTI) Director Sells $173,931.56 in Stock

February 9th, 2016

The Ultimate Software Group, Inc. Director James A. Fitzpatrick, Jr. sold 946 shares of the company's stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $183.86, for a total value of $173,931.56.

- more info

Blue Bell gets grant money to train workers in food safety

February 9th, 2016

Blue Bell Creameries will get a boost from more than $500,000 in state funds to train employees in food safety and other skills, Blinn College announced Monday. The grant money from the Texas Workforce Commission will assist the ice cream maker and a related company as they try to help the Brenham economy recover from a series of blows to its industrial sector.

- more info

Frontier Capital Management Co. LLC Acquires Shares of 519,040 On Assignment, Inc.

February 9th, 2016

Frontier Capital Management Co. LLC purchased a new stake in On Assignment, Inc. during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission .

- more info

Hacker leaks information of Homeland Security, FBI employees

February 9th, 2016

As the federal government is still recovering from the massive 2015 data breach of the Office of Personnel Management, a hacker has reportedly accessed and leaked information on nearly 30,000 employees from the FBI and the Department of Homeland Security in the latest breach. In a story originally reported Sunday night by Vice's Motherboard , an anonymous hacker told the publication he planned to leak information on 20,000 FBI employees and 9,000 DHS employees.

- more info

ManpowerGroup Inc. (MAN) Price Target Cut to $85.00

February 8th, 2016

The brokerage currently has an "outperform" rating on the stock. Credit Suisse's price target would suggest a potential upside of 18.01% from the company's current price.

- more info