The importance of having up to date employment agreements

9th March 2022

As your business grows and changes, so should your policies and paperwork.

Many businesses have experienced huge overhauls and big changes through the last two years. This means it’s more important than ever to make sure your employment agreements and documentation are up to date. Having updated agreements can help you solve disputes more easily, make employees feel safer at work, and reduce your level of risk.

If you haven’t updated your employer agreements for a while, you’ll want to make sure any new changes in policy are reflected. This will make sure you avoid being hit with penalties, such as fines, if issues arise from your outdated agreements.

How employment agreements help both employers and employees

Employment agreements or employment contracts are essential to both the employers and the staff within a business. These documented agreements set the expectations, and terms and conditions of your working relationship. Employment agreements usually include a rundown of workplace policies and obligations of each party, and help protect the rights of employees. These contracts can also serve to protect employers against damage to their business.

Should a dispute arise, these are useful documents that can be referred to when ironing out issues, and help both parties reach an agreement soundly.

What’s usually included in an employment agreement?

Employment agreements or contracts typically outline details of the following:

  • The employee’s salary
  • The length of employment or employment period
  • Expected working hours
  • Job title
  • Notice requirements
  • Entitlements
  • Leave
  • Role obligations
  • Behavioural expectations
  • Procedures and frameworks
  • Confidentiality and privacy policies
  • Termination grounds.

If you’ve promoted an employee or their role and duties have changed, but this isn’t reflected in your current agreement, you’ll need to update this. Whether your current employment agreements are outdated or you’re looking to create new ones from scratch, we can help.

How Lakis & Knight can help with updating your employment agreement documentation

You may not have to rewrite your entire employment agreement. But to avoid penalties, it’s important to check everything is current and reflects the actual procedures and agreements in place. It’s also crucial employees are aware of any changes and both parties have agreed to the current or updated terms.

At Lakis & Knight, we can review your documents and let you know what needs to be done.

Unlike other firms, we’re transparent with pricing, because we know hidden costs are never a nice surprise, especially when you’re working with a limited budget. So whether you’re at the beginning of your business journey, or are simply looking for expert advice, get in touch today.