7 Best Things To Check In Your Offer Letter
Offer letters are there to inform an employee that the candidate is being hired and offered a position in the organization. The offer letter provides general understandings and expectations and also provides basic terms and policies of employment in the organization if the candidate accepts the offer.
Following are the most important points to consider while you check and accept an offer letter -
Follow 7 Best Things To Check In Your Offer Letter
1. Joining Date, Title, Reporting Time & Location
The employee needs to know what is their joining date, the location of their job, and what time daily they need to report to their job. Also, the employee needs to know what is their job title before joining. An offer letter is the only ideal place to add all these details in advance. (Further explained about job title in point no.7)
2. Job Responsibilities
A detailed description of the routines, common tasks, and necessary expectations which need to be treated every day in general terms should be mentioned. Also, you can attach a separate copy of the job description. A right to the employer to modify or assign additional responsibilities should also be set on the front.
3. Benefits & Compensation
CEOs and profoundly paid sales reps may require more proper work arrangements to explain responsibilities like, commission structures, equity value, etc. However, much of the time, the offer letter can address compensation.
The base compensation and any reward or commission should be depicted alongside the fixed payment period every month. Benefits might be referred or described. The option to alter or revoke pay agreements and benefit plans and projects, including worker commitment levels, should be held.
4. Salary offered
This is the most important and undeniable aspect that people usually don’t miss out. Checking their salary package and all the remuneration details provided within the offer letter. According to the company, a salary is divided under different heads such as basic, duty allowance, conveyance, pension, provident fund, etc. Some of these are part of employee’s CTC i.e Cost to Company, that’s why they will not allow you to make your in-hand salary which you will receive every month.
Therefore, while remunerating the salary package offered, you must look at overall CTC, which includes different salary heads.
Another aspect you should look at is the competitors’ salary potential and market standing by compensation being offered for similar roles.
5. Holidays / PTO
Unfortunately, we all know that holidays and leaves are one of the most ignored parts when it comes to job offers. If you talk about holidays and offs in your interview questions, it is considered to impact the recruiter negatively. However, it can be true in the case of the Indian scenario. Talking about holidays and leaves in the US or UK might be considered okay and a natural part of a job offer. The idea has been designed to provide about holidays and leaves in advance to plan their work-life balance in little advance.
But slowly, this structure is improving; the HR’s are getting more comfortable about informing vacations and leaves in advance.
But still, if you are not pretty confident about asking your HR about it, you may also know this from an existing employer.
A manager is a person who will be wholly and solely responsible for your growth and learning in the organization and your career in general. This is a very important aspect as it would be stuck in your mind for a significant amount of time.
Therefore, it is essential to know your manager. To have a manager you can look up to who is equally interested in helping achieve your personal growth along with organizational objectives. So, ensure you know from your HR manager how your reporting manager will be before accepting the job offer.
7. Role and Job title / Designation
This is the first and foremost thing you check on your job offer letter. You should know all details about the role. Its description and the job for which you’ve selected. You should check an offer letter from your HR about the job and the assignment for which you have been chosen. Your part in an association is the main viewpoint that decides the sort of work you will be engaged with at the association. Similarly, your designation characterizes your organization's hierarchical progression while also explaining your duties and authority that are offered to you as a component of the work.
And there you have all 7 most important aspects to consider while checking your offer letter. Keeping these points at the front while considering all the issues ad complexities involved with the job offer will help you gain smooth and reliable transitions over your decisions. All the very best for your job and don’t settle for less than greatness.