Virtual General Counsel LLC
Virtual General Counsel LLC

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How to negotiate a contract with a new hire

| Jul 28, 2020 | Contracts |

As a small business owner, there will be times when you bring new talent into your organization. Not only is this an exciting time for your company, but the right hire has the potential to make your life easier.

Before this person becomes a member of your team, you must deal with contract negotiations. And as you probably know from past experience, this is often easier said than done.

Here are some tips for negotiating a contract with a new hire:

  • Make your first offer in writing: You want to give the candidate something to review. Your offer should clearly outline the terms and conditions of the employment, including but not limited to the pay and benefits.
  • Keep an open mind: If the candidate accepts your offer, good for you. But if they don’t, you should keep an open mind. See what they come back with, consider if you can make it work and decide what to do next.
  • Find middle ground: Even if it’s someone you really want to hire, don’t let them get the best of you in negotiations. You may end up regretting it in the end. Negotiations are all about finding middle ground. Both parties must be willing to budge.

Negotiating a contract with a potential new hire is nothing to take lightly. Follow the tips above, while taking any other steps that pertain to your specific company and hiring process.

Once you’ve worked out the details, present your candidate with the final contract and wait for them to sign on the dotted line. From there, you can proceed.