5 employment bond traps freshers should be aware of
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While employment bonds are often justified as they help cover recruitment and training costs, sometimes they can be tricky and even exploitative, trapping freshers in unfavorable work conditions. This makes it essential for newcomers to understand potential pitfalls, before signing such agreements.
So, here are 5 employment bonds traps that freshers should watch out for to prevent any challenges in the future.
1. Excessive bond duration – Some companies impose employment bonds that last for two, three, or five years. While this might not seem much at first, being tied to one organization for long can prevent your career growth. Imagine that two years into your company, you receive a job offer that could elevate your career growth. In such a situation, you might feel trapped, as breaking the bond can have legal and financial consequences. So, to avoid such situations, always assess whether the bond period is reasonable compared to the training and benefits the company is offering.
2. High penalty for bond breakage – As stated earlier, employment bonds include a penalty clause requiring employees to pay a hefty amount if they decide to leave before the agreed period. For instance, if your bond mandates a 3-year commitment but you decide to leave after 2 years, you could face a significant financial penalty. Some companies deliberately inflate the
