The following is advice to young professionals seeking international opportunities or opportunities that may require relocation within a country or are considernig taking expensive training through their employers.
There is no such thing as a free lunch.
1. Make sure you understand the extent of your financial liability/responsibility.
2. If you can hedge your liability by trying to do some of the things on your own and at a lesser cost, do it — when you are liable for expenses, it is amazing how much money you are motivated to save for doing the same activity a company would pay a premium to do.
3. Get a lawyer to read the contract and explain to you all terms and conditions – as well as the extent of your liability.
4. Ensure there are exit clauses that also protect you. If there aren’t, then make sure to have them drafted by a lawyer and negotiate to have them included in the contract. (The investment at the onset could save you thousands).
5. Make sure you have a financial security blanket and an exit strategy.
I believe there is a serious contradiction between employment at will and repayment clauses. Employment at will states that either party is free to terminate employment/part company without cause. While a repayment clause imposes a huge financial responsibility on the employee that may prohibit him/her from willfully leaving the company when they choose.
We know that repayment is forgiven should the company decide to end the professional relationship. However, what protects the employee in the case that he/she wants to leave? In some cases the repayment amount is so large that the employee – facing resulting financial difficulties – is, in a way, forced to stay.
With globalisation changing the rules of business, travel, relocation and other incurred expenses are rising. But so is the competition to recruit the best talent. Is it not in the best interest of the company to recruit the best candidates? I understand that an organization must also protect their interests, but this is creating a rising concern: people are no longer solely indebted to banks, but now also to their employers??!! Continue Reading
A month after I graduated college, I moved to the States to work for a forging company as part of their Management Leadership Program. Throughout the duration of this program – a little over 2 years – I lived in New York, California and Sheffield, UK. I moved around on average about every 8 months. While this was fun and exciting the first few times, there have definitely been times that have been more difficult than others.
Every time I go back home, or meet someone new and explain to them what I have been doing I get lots of questions as to what my experience has been like. I also get a lot of questions from soon-to-be grads and young professionals as to whether or not they should consider an international work assignment.
Allow me to lay it all out for you. The great, the not so great and the terrible. Continue Reading
The following is advice to young professionals seeking international opportunities or opportunities that may require relocation within a country or are considernig taking expensive training through their employers.
SocialVibe