As an employee, you should carefully review your contracts before signing them to ensure that their provisions are fair to you and are in accordance with employment laws. This also applies even when you are already performing your tasks in the role. If some terms do not align with your needs, you can consider negotiating with your employer.
However, negotiating employment contracts is not always an available option. Hence, you should be aware of the window of opportunity for contract negotiations so you can achieve the employment terms that satisfy your needs as an employee.
Ideal times to negotiate contracts
You can negotiate your employment contract at several points. Typically, this opportunity becomes available in the following situations:
- Before accepting a job offer: This is the most common time for negotiation. Upon receiving a job offer but before signing the contract, you can discuss with your potential employer terms such as salary, benefits, job responsibilities, work schedule, remote work options and other conditions of employment.
- During a promotion or role change: If your employer is promoting you or transferring you to another role, it can be a good time to renegotiate the terms of your employment to reflect your new responsibilities or status.
- During a performance review: If your company conducts regular performance reviews, it can be an appropriate time to negotiate changes to your contract based on your contributions to the company.
- Upon receiving another job offer: You have the leverage to renegotiate your current employment terms if you have job offer from another company, especially if your employer is keen to retain you as an asset.
- In case of management changes or company restructuring: If there is a significant change in management or the company’s structure, you might be able to negotiate changes to your contract to align with the new direction of the company.
The terms of employment contracts significantly impact your salary, benefits and future ability to work. Hence, it is advisable to thoroughly review your contract, possibly with an experienced employment attorney, and explore your options, which include negotiation.