They say there’s only one thing constant in life, and that’s change. When it comes to employment, that couldn’t be truer. While we may find comfort in sticking to one job for a long time, there will inevitably come a time where we part ways for one reason or another. Termination clauses can be complex and are usually weighted to favour the employer. It’s so important to read through your termination clause with a fine-tooth comb, so you have a clear understanding of what your future exit will look like.
There are a few things to consider when reviewing your termination clauses.
How long is a fair amount of notice?
Notice periods are a designated timeframe that an employee or employer provides in advance before terminating an employment contract or leaving a job position. Factors such as length of employment and seniority of position can influence what is considered a ‘fair’ notice period. The length of your notice period may impact the hiring decisions of a potential employer, so it’s important to understand exactly how long yours is.
Is your notice period the same as the principal/employer?
You may discover discrepancies in notice periods during your tenure at a practice. Don’t be surprised if you find the principal/employer has a different obligation to the one you signed. This is standard, but you need to be aware of it.
How can the contract be terminated?
There are many ways a working contract can come to an end. This can happen through mutual agreement, expiration of a fixed-term contract or a breech in contract agreements which allow for the termination of your employment.
What are your obligations after the termination of a contract?
Just because you have been released from your employment, doesn’t mean you are free of certain obligations. This can include maintaining confidentiality, returning company owned belongings and adhering to non-compete or non-solicitation agreements.
If you’re confused about what your termination clause means for you, don’t hesitate to reach out for assistance. We want to make sure that leaving a workplace is just as smooth a transition as it’s entrance.
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