Feeling Stuck: Should I Sign a Service Bond After 7 Years or Look for New Opportunities?

Title: Service Bond

Please advise me. When I joined my organization, there was no clause of a bond. Now, after 7 years, my company wants me to sign a bond or leave. My salary is not as per my expectations, and after signing the bond, I don't understand what will happen. It stops my avenues for looking for other jobs too. My management is not ready to commit anything on the part of salary. The penalty for breaking the bond is one year's salary.

Greetings,

A service bond is supposed to be a win-win situation for both the employee and employer. But if it brings in a conservative view, I suggest you reconsider. An employer introduces a service/training bond to ensure the availability of talent. It adds to the stability of an employee. However, if it is not beneficial, then please start looking out for a job. It will not be an easy scenario for you, although the markets have opened up, hiring for mid-level roles is yet to pick up.

Therefore, if you can hold on, give yourself a year's time. Stick with the job but enhance your skills through certifications so that you are well-prepared to secure a better job once you complete this agreement.

Wish you all the best.

Regards,
(Cite Contribution)

Your originals are with the employer. You need to get them back. Try to see how other employees retrieve them. The exit will not be possible unless you get them first. Find out the history of how the ex-employees of this firm have managed an exit. Paying off the bond amount would be high. Let's look into what your options are.

Service Bond

Mr. ManagerMani, in your query, you mentioned that you signed this service bond after 7 years of service with the condition "Sign a Bond or Leave." Could you explain it further?

Actually, your query contains many questions, and it would be better for all of us if you make it clear so that you can get the right and appropriate direction/suggestions from the community.

My few more questions to you:

- You said that there was no clause or condition like "Service Bond" earlier with the applied employment conditions (with your appointment/employment letter at the joining time). Why has this change been offered to you, or should I say, forced upon you to come under the bond and obey?

- Is this condition of "Service Bond" applicable to you only?

- I hope there was nothing like your employer planning to introduce "Service Bond" conditions, and you were not aware of the same. If yes, then why didn't you discuss/negotiate regarding your compensation before signing it?

- As you are experienced, you could have better chances outside rather than signing the "Service Bond" or accepting it with your present employer. Why did you not object?

- Is your organization going through some internal changes or has it decided to make some changes with "Organization Policies"?

I basically want to know why these conditions were introduced to you by your employer and what the situation was that put you in this condition, or the reasons behind it.

Mr. Ankit,

As you have signed or agreed to the "Service Bond" conditions for 2.5 years, you first need to understand that your exit, which you are expecting or planning, is not going to be very simple or easy.

Second, no matter if your original certificates are with you or with them, the first thing you need to keep in mind is that you have to either obey the conditions or convince your employer to relieve you by using the "PayOff" option or another method.

Please share more about your bond conditions and the response of your employers in this regard, if any, so that the community can give you appropriate and good suggestions/solutions to your problem. Also, please share your total work experience and educational qualifications.

I second Anil. Since your original documents are with you, look into the clauses. What are your options other than buying it out?

Thank you.