Employment agreement for indefinite period of time

Did you know that an employer and an employee could agree in advance on financial consequences, should the labour contract be broken?

Particularly in the case of higher management jobs and recruitment of difficult-to-find/get staff members, this may be an ideal way to bind an employee to the company. It prevents a possible dismissal procedure from becoming an unpredictable financial hurly-burly for the employer. And, as an employee, you know better what to expect if the employment is terminated.

It is recommended that an employer describes the nature of the work to be performed in general terms, particularly in employment agreements for longer periods of time. This makes it easier to change the employee's job in case of a reorganisation. The employee, on the other hand, is better off with a job description that is as detailed and accurate as possible. It means that s/he does not have to accept just any other alternative job.