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. Below Full Employment Equilibrium

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

    A situation in which all available labor resources are being ...
  4. Employment-To-Population Ratio

    A macroeconomic statistic that takes the ratio of the total working ...
  5. Other Post-Employment Benefits ...

    Post-employment benefits that an employee will begin to receive ...
  6. Value Of Risk (VOR)

    The financial benefit that a risk-taking activity will bring ...
RELATED FAQS
  1. Why should investors research the C-suite executives of a company?

    C-suite executives are essential for creating and enacting overall firm strategy and are therefore an important aspect of ... Read Full Answer >>
  2. What is the difference between a direct and an indirect distribution channel?

    A direct distribution channel is organized and managed by the firm itself. An indirect distribution channel relies on intermediaries ... Read Full Answer >>
  3. How can an investor determine a company's annual return from looking at its financial ...

    The funds in a share premium account cannot be used for a company's general expenses. These funds are restricted in terms ... Read Full Answer >>
  4. Will a hike in the minimum wage result in deadweight loss to businesses and labor?

    There have been studies which show that hikes in minimum wage create deadweight loss to business and labor. It is possible ... Read Full Answer >>
  5. How do companies identify and manage business risk?

    In each stage of the business life cycle, companies face both internal and external risks that can have detrimental effects ... Read Full Answer >>
  6. How do the C-suite members work together to make a successful company?

    Corporate managers, typically chosen by a board of directors in large organizations, are ultimately responsible to stakeholders ... Read Full Answer >>
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. Economics

    What is a Business Model?

    Business model is the term for a company’s plan as to how it will earn revenue.
  7. Professionals

    Understanding Operations Management

    Operations management is concerned with converting materials and labor into goods and services as efficiently as possible to maximize profits.
  8. Personal Finance

    Protect Your Teen When They Work Over The Summer

    If your child is working a summer job, here are some rules you should know about what he or she is allowed to do.
  9. Retirement

    Why Working Longer To Save More Is A Bad Strategy

    If your retirement plan mostly consists of working longer to earn and save more money, you might need to rethink that strategy.
  10. Personal Finance

    Why Do Employers Have To Fill Out The I-9 Form?

    With all the employment opportunities in the U.S. attracting people from around the world, the I-9 form establishes who is eligible to work here.

You May Also Like

Hot Definitions
  1. Moving Average - MA

    A widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random ...
  2. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  3. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  4. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  5. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  6. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
Trading Center