Hiring your first employees will be one of the most exciting and significant steps for your startup.
Choosing the right individuals to employ is, of course, most important, but all too often new companies bring in employees without putting a proper employment contract in place. That can lead to big problems for the business down the track.
In particular, it is absolutely vital that employees within the business are not able to lay claim personally to any of the company’s valuable intellectual property. Confidentiality provisions will also be extremely important, as you will be exposing the inner workings of your business to your employees.
Also consider putting in place reasonable non-solicitation and non-compete provisions for staff who will have access to the company’s proprietary know-how and key suppliers/customers.
Navigating through the minefield that is Australian employment law is a daunting task for any entrepreneur. A proper employment contract should be viewed as essential for every employee.
Time To Complete:
Approximately 10 minutes.
Approximately 5 pages long.