Hello All,
I have 4yrs exp in IT industry, I worked with good MNC\'s, recently i got a job in one of the good comp. But they asked me to sign the bond of 1yr. I hv not seen any situation where a four yr exp emp is asked to sign a bond. Even during the entire entire interview process i was not informed abot that.. Can u please advise if i should sign the bond, I think comp is making me fool. They are not paying me wt i asked for and even they are not giving the same profile..
From India, Bangalore
I have 4yrs exp in IT industry, I worked with good MNC\'s, recently i got a job in one of the good comp. But they asked me to sign the bond of 1yr. I hv not seen any situation where a four yr exp emp is asked to sign a bond. Even during the entire entire interview process i was not informed abot that.. Can u please advise if i should sign the bond, I think comp is making me fool. They are not paying me wt i asked for and even they are not giving the same profile..
From India, Bangalore
Hi,
You have not seen doesn't mean there is nothing like this..
Well today it comes under the general practice of employment to control employee and their "frequent change in employment or to fix employment for a certain period" because of unprofessional attitude and act by employees which ultimately create many issues/conflicts and losses for employers in many ways. Most of time employees do change their job without taking care of employment terms like they leave the jobs without serving notice period or buy/payout and so on and Employer has to bear losses.
You are well experienced and educated person and understand the values of it for both employers and employees, but still there is a difference between a Service Bond and Employment Agreement which I would like to highlight you and hope this gonna help you to take a right and appropriate decision in regards to your professional /career life.
Employment/ Service Agreement which calles for two sided (for Employee and Employer) detailing terms and conditions of employment where both has to agree for things to do or not to do is bit different with the Service Bond, which mostly treated as one sided detailing terms of contract to be obeyed by the executants only. Sometime it is bad but not always because sometime it comes with benefits to the employees in many ways, therefore, the applicable and defined conditions under the Service Bond Agreement needs demands extra attention. Needs to read and uderstand the every conditions carefully before accepting the Bond.
"Now it is you who have to decide what is wrong , what is right!!!"
Also can go and read the realted dicussions
https://www.citehr.com/462590-bond-p...mpetitors.html
https://www.citehr.com/51173-service...al-action.html
https://www.citehr.com/37511-service...ivil-suit.html
and also can go for more to : employment bond
From India, Gurgaon
663You have not seen doesn't mean there is nothing like this..
Well today it comes under the general practice of employment to control employee and their "frequent change in employment or to fix employment for a certain period" because of unprofessional attitude and act by employees which ultimately create many issues/conflicts and losses for employers in many ways. Most of time employees do change their job without taking care of employment terms like they leave the jobs without serving notice period or buy/payout and so on and Employer has to bear losses.
You are well experienced and educated person and understand the values of it for both employers and employees, but still there is a difference between a Service Bond and Employment Agreement which I would like to highlight you and hope this gonna help you to take a right and appropriate decision in regards to your professional /career life.
Employment/ Service Agreement which calles for two sided (for Employee and Employer) detailing terms and conditions of employment where both has to agree for things to do or not to do is bit different with the Service Bond, which mostly treated as one sided detailing terms of contract to be obeyed by the executants only. Sometime it is bad but not always because sometime it comes with benefits to the employees in many ways, therefore, the applicable and defined conditions under the Service Bond Agreement needs demands extra attention. Needs to read and uderstand the every conditions carefully before accepting the Bond.
"Now it is you who have to decide what is wrong , what is right!!!"
Also can go and read the realted dicussions
https://www.citehr.com/462590-bond-p...mpetitors.html
https://www.citehr.com/51173-service...al-action.html
https://www.citehr.com/37511-service...ivil-suit.html
and also can go for more to : employment bond
From India, Gurgaon
Hi Sinharas,
Yrs of experience in industry does not matter regarding signing of bond.
Bond are usually taken from company who have high attrition rate and satisfies their fear of employe resiging without completing project. Besides, it also serve their appitite of your commitment to work with them. Sign it Man, nobody can force you do anything in corporate world, if you don't want or not interested later.
Having said that, be very cauious with this company you are dealing. if they are not paying you what you demanded and also not clear on your job profile.
Sign the bond, only if they pay you what you demanded and also your JD, KRA and KPI is very clearly defined and clause of "Termination" of bond or Job explained to you.
If you feel you must not sign the bond; tell them on the face Take me without bond or hire some one else.
Ukmitra
From Saudi Arabia, Riyadh
Yrs of experience in industry does not matter regarding signing of bond.
Bond are usually taken from company who have high attrition rate and satisfies their fear of employe resiging without completing project. Besides, it also serve their appitite of your commitment to work with them. Sign it Man, nobody can force you do anything in corporate world, if you don't want or not interested later.
Having said that, be very cauious with this company you are dealing. if they are not paying you what you demanded and also not clear on your job profile.
Sign the bond, only if they pay you what you demanded and also your JD, KRA and KPI is very clearly defined and clause of "Termination" of bond or Job explained to you.
If you feel you must not sign the bond; tell them on the face Take me without bond or hire some one else.
Ukmitra
From Saudi Arabia, Riyadh
Hi Sinharas,
If your not comfortable signing the bond, tell that right away. Especially when companies do not match the pay or designation and insist you sign a bond.That's not a good symptom. See your advantages in joining the company if its good then join if not you can refuse it.
From India, Madras
If your not comfortable signing the bond, tell that right away. Especially when companies do not match the pay or designation and insist you sign a bond.That's not a good symptom. See your advantages in joining the company if its good then join if not you can refuse it.
From India, Madras
Hello,
Firstly, Congratulations and all the best for your new job role.
In IT industry, (since you have a 4years experience, I am sure you'd also agree to this) there is a lot of attrition problem.
The bonds are more common in IT industry so that the new hire do not just get away.
Each recruitment has its own cost.
In my own company, this scene happened -
We hired a person for sales profile. He was performing well, we paid him at par. He completed his probation. Now he was eligible for his leaves. So he took a 4-5 days leaves to visit his native which we granted with pleasure as he was performing very well. But it's a month's time now and till date he hasn't joined back.
They might not have informed you about this in prior stages, but now that they've let you know it is upto you to consider the things.
More so you said the bond is only for 1 year. So what is the problem in signing the bond? 1 year continuous service in any firm looks still good. We can't anyways switch over with a tenure of lesser than a month. Looks bad on CV and no recruiter actually puts their hands on such CVs unless they absolutely need someone to close the position.
From India, Mumbai
Firstly, Congratulations and all the best for your new job role.
In IT industry, (since you have a 4years experience, I am sure you'd also agree to this) there is a lot of attrition problem.
The bonds are more common in IT industry so that the new hire do not just get away.
Each recruitment has its own cost.
In my own company, this scene happened -
We hired a person for sales profile. He was performing well, we paid him at par. He completed his probation. Now he was eligible for his leaves. So he took a 4-5 days leaves to visit his native which we granted with pleasure as he was performing very well. But it's a month's time now and till date he hasn't joined back.
They might not have informed you about this in prior stages, but now that they've let you know it is upto you to consider the things.
More so you said the bond is only for 1 year. So what is the problem in signing the bond? 1 year continuous service in any firm looks still good. We can't anyways switch over with a tenure of lesser than a month. Looks bad on CV and no recruiter actually puts their hands on such CVs unless they absolutely need someone to close the position.
From India, Mumbai
Dear Sinharas,
Firstly years of experience does not count with signing a bond . Now a days signing a bond is a general practice , this practice is usual and is done looking after to the stability factor .For proving yurself you needs to be stable with the comp and within a years time you can give your hundred percent and resulting with a good output for the company which will please you and your mangement of the company with your sincere efforts and dedication .So , got for it if it satisfies you with the package and job profile.
From India, Bhopal
Firstly years of experience does not count with signing a bond . Now a days signing a bond is a general practice , this practice is usual and is done looking after to the stability factor .For proving yurself you needs to be stable with the comp and within a years time you can give your hundred percent and resulting with a good output for the company which will please you and your mangement of the company with your sincere efforts and dedication .So , got for it if it satisfies you with the package and job profile.
From India, Bhopal
Dear,
Generally Companies / Organisations those face a problem in hiring Resources for such critical roles and skills which are not easy to search and easily available .
They invest on the training of the employees to make them good professional and experts on those critical skills. If, in your case they are not going to provide you any training than avoid this Company to join.
Bond can only be executed in lieu of any training provided to the employee.
Regards,
Red Star Group.
From India, New Delhi
Generally Companies / Organisations those face a problem in hiring Resources for such critical roles and skills which are not easy to search and easily available .
They invest on the training of the employees to make them good professional and experts on those critical skills. If, in your case they are not going to provide you any training than avoid this Company to join.
Bond can only be executed in lieu of any training provided to the employee.
Regards,
Red Star Group.
From India, New Delhi
If you are really interested to work in company from where you got an offer and if you are looking for a long term opportunity in your proffessional then you can sign the bond.
Before making any decision, you should clarify your job profile an area of growth with HR Person of that company and other terms and conditions.
Don't think like that company is making fool to you because it may be spoil your image as well as companies image. Bond is a one type of legal agreement which will be included
Date of joining
Package / Monthly Salary
E
other terms and condition like notice period, probation period, and other HR clause.
sign of employee 7 employer
From India, Ahmedabad
Before making any decision, you should clarify your job profile an area of growth with HR Person of that company and other terms and conditions.
Don't think like that company is making fool to you because it may be spoil your image as well as companies image. Bond is a one type of legal agreement which will be included
Date of joining
Package / Monthly Salary
E
other terms and condition like notice period, probation period, and other HR clause.
sign of employee 7 employer
From India, Ahmedabad
If you are really interested to work in company from where you got an offer and if you are looking for a long term opportunity in your proffessional then you can sign the bond.
Before making any decision, you should clarify your job profile an area of growth with HR Person of that company and other terms and conditions.
Don't think like that company is making fool to you because it may be spoil your image as well as companies image. Bond is a one type of legal agreement which will be on stamp paper included
Date of joining
Package / Monthly Salary
Exit formality
other terms and condition like notice period, probation period, and other HR clause.
sign of employee & employer
So we can not say that company is making fool to you.
From India, Ahmedabad
Before making any decision, you should clarify your job profile an area of growth with HR Person of that company and other terms and conditions.
Don't think like that company is making fool to you because it may be spoil your image as well as companies image. Bond is a one type of legal agreement which will be on stamp paper included
Date of joining
Package / Monthly Salary
Exit formality
other terms and condition like notice period, probation period, and other HR clause.
sign of employee & employer
So we can not say that company is making fool to you.
From India, Ahmedabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Bond of Employment.doc
Bond in employment.pdf