Feeling Stuck: Should I Sign a Two-Year Bond Without a Salary Raise?

Dear Members,

Greetings of the day!

This post is regarding an irony. I have been employed with a company for the last 10 months where they stated that I would be on a probation period of three months, after which I would receive an increment of 20% on my current salary. However, after three months of joining, they did not raise my salary or confirm my eligibility for leaves. Subsequently, they closed their venture six months after my joining as there was a lack of interest from potential clients (please note that it was a training business).

The company also operates a manpower consultancy. It is worth mentioning that all the individuals hired for the training project resigned due to the company's lack of progress. Despite this, I remained with the company as I believed the new business required a stable workforce.

In May 2013, they requested me to transition from the role of Training Manager to Business Development Manager of the manpower consultancy. I complied as they showed trust in me, and I delivered results by securing six empanelments within a month. However, I am yet to receive the promised confirmation and salary increment. When they offered me another role, they mentioned that I could leave if I was not comfortable. I chose to stay as I did not wish to be unemployed.

Now, they are asking me to sign a two-year bond with them. My queries for you, members, are as follows:

1. Is the bond legally binding?
2. On what document should it be signed (letterhead or stamp paper)?
3. Can I request confirmation and a salary increment before signing the bond?
4. What other considerations should I keep in mind, such as increments during the two-year contract?

The company Director expressed his desire to retain me, but I am hesitant to sign the bond without a job offer in hand.

Please advise me on what steps I can take. While the final decision rests with me, your suggestions would be greatly appreciated.

Regards,
SSehgal

Until and unless you know what is in the bond, nobody can suggest to you. First of all, ask them to regularize your services, raise the salary, and then accept the signing of the bond, that too if the terms and conditions are favorable to you. Considering the data you submitted, you are capable of handling things and delivering well in critical scenarios. If so, why don't you try outside even if it takes one or two months' time? Take a chance, but subject to your confidence levels because, considering the details you submitted, I found that they are not fair, and they require your services and want to fix you to improve their business because they have a lot of confidence in you. Think and make a decision.

Regards,
Kamesh

As rightly suggested by Mr. Kamesh, sit down with your head and have firm discussions regarding your future there before proceeding to the bond. Please highlight your contributions and ask them politely and assertively to keep their promises regarding your salary hike, etc. Make them understand it is essential from your stability point of view.

During the discussions, assess their future plans and their plans for you. If you find they are simply prolonging the matter without any purpose, you can certainly explore other opportunities.

Hope this advice helps. All the best!

Regards,
Vaishalee Parkhi

It entirely depends on you and what you expect from your employer. Do you want to have a roller-coaster ride with a very unstable startup? If yes, then you must accept things as they are. You are taking a huge risk with your career, and you should safeguard yourself from any possible disaster.

You have shown more than 100% commitment in your work and changed roles frequently as per the organization's needs. Though it is appreciated by your employer, it's a great risk to your career. You must be rewarded for it.

I agree with Mr. Doondy Reddy; you can ask them for a partnership or some stock options if they are not able to pay you periodically. After all, you are at more risk than those people.

All the best,

Abhishek

You are as right to leave the company as they are for not paying you your dues and confirmation. In other words, if they don't pay you and confirm you despite promises and, over and above, you performing, you have better chances of getting another/better job as you did what you were supposed to. So if you can perform in a place that is less equipped with talent, I am sure you can do much better in a place that gives you the right platform in every manner!

Such people are untrustworthy, and honestly, you shouldn't have been with them for so long. I've had similar experiences, but they are fond memories now :)