Terms Of Employment

AAA

DEFINITION of 'Terms Of Employment'

The conditions that an employer and employee agree upon for a job. Terms of employment include an employee's job responsibilities, work days, hours, breaks, dress code, vacation and sick days and pay. They also include benefits such as health insurance, life insurance and retirement plans. Employees whose skills are in higher demand will have an advantage when negotiating terms of employment.

INVESTOPEDIA EXPLAINS 'Terms Of Employment'

Most employment contracts in the United States are at-will, meaning that either the employer or employee can legally terminate employment at any time for any reason, though employees cannot be fired for a few legally protected reasons such religion and gender. At-will employment means that an employee can be fired even if he or she does not violate any terms of employment. However, some employees work under contracts that provide job security for the length of the contract as long as they do not violate their contract conditions.

RELATED TERMS
  1. Employment Agency Fees

    An employment agency works to match employers with suitable employees. ...
  2. Employment-To-Population Ratio

    A macroeconomic statistic that takes the ratio of the total working ...
  3. Below Full Employment Equilibrium

    A macroeconomic term used to describe a situation where an economy's ...
  4. Full Employment

    A situation in which all available labor resources are being ...
  5. Other Post-Employment Benefits ...

    Post-employment benefits that an employee will begin to receive ...
  6. Lilly Ledbetter Fair Pay Act

    A federal law designed to ensure equal pay for all workers, regardless ...
Related Articles
  1. Economics

    The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  2. Budgeting

    Planning For Unemployment

    Preparation can help you land on your feet after getting the "old heave-ho".
  3. Personal Finance

    Employee Benefits: How To Know What To Choose

    Starting a new job is stressful but you don't need to sweat about setting up a benefits package.
  4. Options & Futures

    Losing Your Job: From A To Z

    Job loss can be devastating. Learn how to anticipate it and quickly get back on your feet.
  5. Entrepreneurship

    Creating A Home Business Work Space

    Your work environment can make or break your career as an entrepreneur.
  6. Fundamental Analysis

    Why would I need to know how many outstanding shares the shareholders have?

    Find out why shareholders should know how many outstanding shares have been issued by a corporation, and learn what happens when more shares are issued.
  7. Fundamental Analysis

    How do you use Microsoft Excel to calculate liquidity ratios?

    Learn how to calculate the most common liquidity ratios in Microsoft Excel by inputting financial figures from a company's balance sheet.
  8. Economics

    America's Most Notorious Corporate Criminals

    Learn about the crimes and punishments of some of the most infamous convicted white-collar crooks.
  9. Professionals

    How do you protect yourself against sudden unemployment?

    Learn the steps you can take to protect yourself from unexpected job loss and how you can turn a potentially desperate time into a career opportunity.
  10. Insurance

    How do you financially prepare yourself for unemployment?

    Lean some simple ways that you can financially prepare for the possibility of unemployment. Read information for saving money and avoiding debt.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center