Hello All, I have 4 years of experience in the IT industry. I have worked with reputable MNCs, and recently, I have secured a job in a good company. However, they have requested me to sign a bond for 1 year. I have not encountered a situation where a professional with four years of experience is required to sign a bond. Moreover, I was not informed about this during the entire interview process. Can you please advise me on whether I should sign the bond? I believe the company is trying to deceive me. They are not offering the salary I requested, and they are not providing the same job profile as discussed.
Thank you.
From India, Bangalore
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From India, Bangalore
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Just because you haven't seen something doesn't mean it doesn't exist. Today, it falls under common employment practice to regulate employees and their "frequent changes in employment or to establish fixed employment for a specific period" due to unprofessional attitudes and actions by employees that can lead to various conflicts and losses for employers. Often, employees switch jobs without adhering to employment terms, such as leaving without serving the notice period or fulfilling buyout clauses, causing financial losses for the employer.
You are an experienced and educated individual who appreciates the significance of this issue for both employers and employees. However, it's important to differentiate between a Service Bond and an Employment Agreement, which I would like to clarify for you to assist in making informed decisions regarding your professional career.
Difference Between Service Bond and Employment Agreement
An Employment/Service Agreement involves mutual terms and conditions agreed upon by both the employee and employer, outlining responsibilities and restrictions. On the other hand, a Service Bond is typically one-sided, dictating terms that the employee must comply with. While this can sometimes be disadvantageous, there are instances where it benefits employees. Therefore, it is crucial to carefully review and understand all conditions stated in the Service Bond Agreement before acceptance.
"Now, it is up to you to determine what is right and what is wrong!"
You may also find valuable insights from the following discussions:
- [Bond Prohibiting Employee Joining Competitors](https://www.citehr.com/462590-bond-prohibiting-employee-joining-competitors.html)
- [Service Bond Agreement Break Legal Action](https://www.citehr.com/51173-service-bond-agreement-break-legal-action.html)
- [Service Agreement Bond Civil Suit](https://www.citehr.com/37511-service-agreement-bond-civil-suit.html)
For further information, you can explore more on [employment bond](https://www.citehr.com/results.php?q=employment%20bond).
From India, Gurgaon
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672You are an experienced and educated individual who appreciates the significance of this issue for both employers and employees. However, it's important to differentiate between a Service Bond and an Employment Agreement, which I would like to clarify for you to assist in making informed decisions regarding your professional career.
Difference Between Service Bond and Employment Agreement
An Employment/Service Agreement involves mutual terms and conditions agreed upon by both the employee and employer, outlining responsibilities and restrictions. On the other hand, a Service Bond is typically one-sided, dictating terms that the employee must comply with. While this can sometimes be disadvantageous, there are instances where it benefits employees. Therefore, it is crucial to carefully review and understand all conditions stated in the Service Bond Agreement before acceptance.
"Now, it is up to you to determine what is right and what is wrong!"
You may also find valuable insights from the following discussions:
- [Bond Prohibiting Employee Joining Competitors](https://www.citehr.com/462590-bond-prohibiting-employee-joining-competitors.html)
- [Service Bond Agreement Break Legal Action](https://www.citehr.com/51173-service-bond-agreement-break-legal-action.html)
- [Service Agreement Bond Civil Suit](https://www.citehr.com/37511-service-agreement-bond-civil-suit.html)
For further information, you can explore more on [employment bond](https://www.citehr.com/results.php?q=employment%20bond).
From India, Gurgaon
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Years of experience in the industry do not matter regarding the signing of a bond. Bonds are usually taken from companies that have a high attrition rate and want to mitigate the risk of employees resigning before completing projects. Additionally, it serves as an indicator of your commitment to work with them. Sign it. No one can force you to do anything in the corporate world if you do not want to or are not interested later.
Having said that, be very cautious with the company you are dealing with. If they are not paying you what you demanded or if your job profile is not clear, think twice. Sign the bond only if they pay you what you asked for and if your job description (JD), Key Result Areas (KRA), and Key Performance Indicators (KPI) are clearly defined, along with an explanation of the termination clause of the bond or job.
If you feel you should not sign the bond, tell them directly to take you without a bond or hire someone else.
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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Having said that, be very cautious with the company you are dealing with. If they are not paying you what you demanded or if your job profile is not clear, think twice. Sign the bond only if they pay you what you asked for and if your job description (JD), Key Result Areas (KRA), and Key Performance Indicators (KPI) are clearly defined, along with an explanation of the termination clause of the bond or job.
If you feel you should not sign the bond, tell them directly to take you without a bond or hire someone else.
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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If you're not comfortable signing the bond, express that right away, especially when companies do not match the pay or designation and insist you sign a bond. That's not a good sign. Consider your advantages in joining the company. If they are good, then join; if not, you can refuse.
Thank you.
From India, Madras
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From India, Madras
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Congratulations and all the best on your new job role.
Understanding Bonds in the IT Industry
In the IT industry, as you may know from your four years of experience, there is a significant issue with attrition. Bonds are more common to ensure that new hires do not leave prematurely. Each recruitment carries its own costs.
In my company, we faced a similar situation. We hired a person for a sales profile. He performed well, and we compensated him accordingly. After completing his probation, he was eligible for leave. He took 4-5 days off to visit his hometown, which we granted gladly due to his good performance. However, it has been a month, and he has not returned.
Considering the Bond
They might not have informed you about the bond during the initial stages, but now that they have, it's up to you to consider the situation. Moreover, the bond is only for one year. What is the issue with signing it? One year of continuous service in any firm is still respectable. Switching jobs with a tenure of less than a month can look unfavorable on a CV, and recruiters typically avoid such CVs unless they urgently need to fill a position.
Regards.
From India, Mumbai
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Understanding Bonds in the IT Industry
In the IT industry, as you may know from your four years of experience, there is a significant issue with attrition. Bonds are more common to ensure that new hires do not leave prematurely. Each recruitment carries its own costs.
In my company, we faced a similar situation. We hired a person for a sales profile. He performed well, and we compensated him accordingly. After completing his probation, he was eligible for leave. He took 4-5 days off to visit his hometown, which we granted gladly due to his good performance. However, it has been a month, and he has not returned.
Considering the Bond
They might not have informed you about the bond during the initial stages, but now that they have, it's up to you to consider the situation. Moreover, the bond is only for one year. What is the issue with signing it? One year of continuous service in any firm is still respectable. Switching jobs with a tenure of less than a month can look unfavorable on a CV, and recruiters typically avoid such CVs unless they urgently need to fill a position.
Regards.
From India, Mumbai
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Firstly, years of experience do not count when signing a bond. Nowadays, signing a bond is a general practice. This practice is usual and is done to ensure stability. To prove yourself, you need to be stable with the company, and within a year's time, you can give your hundred percent, resulting in a good output for the company. This will please both you and the management of the company with your sincere efforts and dedication. So, go for it if it satisfies you with the package and job profile.
Regards.
From India, Bhopal
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Regards.
From India, Bhopal
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Training and Bond Execution in Companies
Generally, companies or organizations that face challenges in hiring resources for critical roles and skills that are not readily available often invest in training their employees to become proficient professionals and experts in these critical skills. If they do not offer any training in your case, it is advisable to avoid joining such a company.
Bond can only be executed in lieu of any training provided to the employee.
Regards,
Red Star Group.
From India, New Delhi
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Generally, companies or organizations that face challenges in hiring resources for critical roles and skills that are not readily available often invest in training their employees to become proficient professionals and experts in these critical skills. If they do not offer any training in your case, it is advisable to avoid joining such a company.
Bond can only be executed in lieu of any training provided to the employee.
Regards,
Red Star Group.
From India, New Delhi
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Considering Signing a Job Bond
I have 4 years of experience in the IT industry. I have worked with reputable MNCs, and recently, I secured a job in a good company. However, they have requested me to sign a bond for 1 year. I have not encountered a situation where a professional with four years of experience is required to sign a bond. Moreover, I was not informed about this during the entire interview process. Can you please advise me on whether I should sign the bond? I believe the company is trying to deceive me. They are not offering the salary I requested, and they are not providing the same job profile as discussed.
If you are genuinely interested in working for the company that has offered you a job and you are seeking a long-term opportunity in your profession, then you can consider signing the bond. Before making any decision, clarify your job profile, growth opportunities, and other terms and conditions with the HR person of that company.
Do not assume that the company is trying to deceive you, as it could damage your reputation as well as the company's image. A bond is a type of legal agreement that typically includes the date of joining, package/monthly salary, notice period, probation period, and other HR clauses.
Regards,
From India, Ahmedabad
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I have 4 years of experience in the IT industry. I have worked with reputable MNCs, and recently, I secured a job in a good company. However, they have requested me to sign a bond for 1 year. I have not encountered a situation where a professional with four years of experience is required to sign a bond. Moreover, I was not informed about this during the entire interview process. Can you please advise me on whether I should sign the bond? I believe the company is trying to deceive me. They are not offering the salary I requested, and they are not providing the same job profile as discussed.
If you are genuinely interested in working for the company that has offered you a job and you are seeking a long-term opportunity in your profession, then you can consider signing the bond. Before making any decision, clarify your job profile, growth opportunities, and other terms and conditions with the HR person of that company.
Do not assume that the company is trying to deceive you, as it could damage your reputation as well as the company's image. A bond is a type of legal agreement that typically includes the date of joining, package/monthly salary, notice period, probation period, and other HR clauses.
Regards,
From India, Ahmedabad
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Understanding Employment Bonds in the IT Industry
I have 4 years of experience in the IT industry. I have worked with good MNCs, and recently, I got a job in one of the good companies. However, they asked me to sign a bond for 1 year. I have not seen any situation where a four-year experienced employee is asked to sign a bond. Even during the entire interview process, I was not informed about that. Can you please advise if I should sign the bond? I think the company is trying to deceive me. They are not paying me what I asked for, and they are not offering the same profile.
If you are genuinely interested in working for the company that has offered you a job and if you are seeking a long-term opportunity in your profession, then you can consider signing the bond. Before making any decision, clarify your job profile, growth opportunities, and other terms and conditions with the HR person of that company.
Considerations Before Signing a Bond
Do not assume that the company is trying to deceive you, as it could harm your reputation as well as the company's image. A bond is a type of legal agreement that typically includes:
- Date of joining
- Package/Monthly Salary
- Exit formalities
- Other terms and conditions such as notice period, probation period, and other HR clauses
- Signatures of both the employee and employer
Therefore, we cannot definitively say that the company is trying to deceive you.
From India, Ahmedabad
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I have 4 years of experience in the IT industry. I have worked with good MNCs, and recently, I got a job in one of the good companies. However, they asked me to sign a bond for 1 year. I have not seen any situation where a four-year experienced employee is asked to sign a bond. Even during the entire interview process, I was not informed about that. Can you please advise if I should sign the bond? I think the company is trying to deceive me. They are not paying me what I asked for, and they are not offering the same profile.
If you are genuinely interested in working for the company that has offered you a job and if you are seeking a long-term opportunity in your profession, then you can consider signing the bond. Before making any decision, clarify your job profile, growth opportunities, and other terms and conditions with the HR person of that company.
Considerations Before Signing a Bond
Do not assume that the company is trying to deceive you, as it could harm your reputation as well as the company's image. A bond is a type of legal agreement that typically includes:
- Date of joining
- Package/Monthly Salary
- Exit formalities
- Other terms and conditions such as notice period, probation period, and other HR clauses
- Signatures of both the employee and employer
Therefore, we cannot definitively say that the company is trying to deceive you.
From India, Ahmedabad
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My opinion is that no one can be compelled to work there even if you have signed a bond with them for a year. So, don't worry. Have a talk with the Authority about your packages and position.
From India, Chennai
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From India, Chennai
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Considerations Before Signing an Employment Bond
You have not mentioned the type of bond you have been asked to sign. If it's a contract between an employee and employer with a certain period of probation, that's fine. But if an employer asks you to sign a bond and requests money or certificates as collateral, then alarm bells should ring.
Secondly, if the company isn't paying you what you have requested but is asking you to sign a bond, ask yourself: don't you have any other options? If you plan to join a company for the short term and a better opportunity arises, then don't sign any bond whatsoever. While the employer may not be able to successfully pursue any legal action, they can use any document you signed on their premises to intimidate you in the future.
Think very carefully before signing any document with any employer.
From India, Chennai
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You have not mentioned the type of bond you have been asked to sign. If it's a contract between an employee and employer with a certain period of probation, that's fine. But if an employer asks you to sign a bond and requests money or certificates as collateral, then alarm bells should ring.
Secondly, if the company isn't paying you what you have requested but is asking you to sign a bond, ask yourself: don't you have any other options? If you plan to join a company for the short term and a better opportunity arises, then don't sign any bond whatsoever. While the employer may not be able to successfully pursue any legal action, they can use any document you signed on their premises to intimidate you in the future.
Think very carefully before signing any document with any employer.
From India, Chennai
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Bond of Employment.doc
Bond in employment.pdf