Hi all, I got a new opportunity in one of MNCs, but in my current organization, I have a bond of 3 years, or else have to pay 5 lakh. What should I do? What should I say to my current organization? I am getting a good offer. But I don't want to pay 5 lakh. I joined my current organization 5.5 months back.
From India, Mysore
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From India, Mysore
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Dear friend,
Hope you have signed the bond with your eyes and mind fully open. Therefore, your oscillating tendency to shift jobs within the bond period of three years, dictated by more attractive offers, should be compatible with the terms and conditions of the employment bond in force.
Of course, the justifiability of the value of the bond amount can be questioned in a Court of Law if it is too excessive compared to the costs of recruitment and training incurred by the employer on your engagement and the length of service you have rendered so far. But it would be a time-consuming process and would not serve any immediate purpose.
It would be better if you negotiate with the present employer for a waiver in full or part.
What if the new employer also asks for the execution of a similar bond? The grass is always greener on the other side. So, try to be conscious of the effects of employment bonds and avoid job hopping for the sake of money.
From India, Salem
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6185Hope you have signed the bond with your eyes and mind fully open. Therefore, your oscillating tendency to shift jobs within the bond period of three years, dictated by more attractive offers, should be compatible with the terms and conditions of the employment bond in force.
Of course, the justifiability of the value of the bond amount can be questioned in a Court of Law if it is too excessive compared to the costs of recruitment and training incurred by the employer on your engagement and the length of service you have rendered so far. But it would be a time-consuming process and would not serve any immediate purpose.
It would be better if you negotiate with the present employer for a waiver in full or part.
What if the new employer also asks for the execution of a similar bond? The grass is always greener on the other side. So, try to be conscious of the effects of employment bonds and avoid job hopping for the sake of money.
From India, Salem
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The bond or payment comes because of the following happenings.
1. Reliability - An employer, when appointing someone, relies on them to be available for work whenever required during the bond period. If the employee leaves during the bond period, the employer's calculations go awry, leading to business disruptions and losses. What is the price for that?
2. What is the reason for leaving? Is it with the employer or the employee? If it is the employer's fault, then the employer should bear the consequences. If the employee is at fault, why should the employer suffer? If the employer terminates the employee during the bond period, the employee can demand compensation for the loss in their career or request to be retained until the end of the bond period. A bond is a contract, and whoever breaks it must compensate the other party. The amount of compensation can be mutually agreed upon. Once agreed upon and signed, it is binding, and no one can challenge it.
3. Normally, a bond is for special employees, not for all employees. Everyone should understand that we should not underestimate the importance of our expertise.
Vibhakar Ramtirthkar.
From India, Pune
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1. Reliability - An employer, when appointing someone, relies on them to be available for work whenever required during the bond period. If the employee leaves during the bond period, the employer's calculations go awry, leading to business disruptions and losses. What is the price for that?
2. What is the reason for leaving? Is it with the employer or the employee? If it is the employer's fault, then the employer should bear the consequences. If the employee is at fault, why should the employer suffer? If the employer terminates the employee during the bond period, the employee can demand compensation for the loss in their career or request to be retained until the end of the bond period. A bond is a contract, and whoever breaks it must compensate the other party. The amount of compensation can be mutually agreed upon. Once agreed upon and signed, it is binding, and no one can challenge it.
3. Normally, a bond is for special employees, not for all employees. Everyone should understand that we should not underestimate the importance of our expertise.
Vibhakar Ramtirthkar.
From India, Pune
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Dear Questioner,
You have only worked for 5.5 months and are already looking for another job. In such a short period, you may not have had the opportunity to fully understand the organization. When an employer hires someone, they typically close their search for another employee. Consider the situation from the opposite perspective: if the employer were to ask you to leave the job and you had to support your family, what would you do in that scenario? This is one of the reasons why employers may feel compelled to take such measures.
As an employer, I always consider the longevity of a job seeker's previous positions in other organizations.
Thank you.
From India, Delhi
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You have only worked for 5.5 months and are already looking for another job. In such a short period, you may not have had the opportunity to fully understand the organization. When an employer hires someone, they typically close their search for another employee. Consider the situation from the opposite perspective: if the employer were to ask you to leave the job and you had to support your family, what would you do in that scenario? This is one of the reasons why employers may feel compelled to take such measures.
As an employer, I always consider the longevity of a job seeker's previous positions in other organizations.
Thank you.
From India, Delhi
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Dear Anindya,
When you have signed the bond of 3 years with a particular company, which states that you will work with that company for three years, the employer is relaxed and thinks that there is somebody to take care of his company's work for three years.
All of a sudden, after only 5.5 months of work, you start leaving the company because you have found a good opportunity. This action shows that you are only thinking about your own benefits and growth in life.
What if the company where you have found the opportunity also thinks the same way and removes you from service after 2 months of working, stating that "an employee who is not loyal to his previous organization will also not be loyal to our organization, so it is better to not invest in training such kind of employee in our organization."
So, think about this twice before taking the next step.
From Radius Enterprise Solutions, Mumbai. We provide HR & Labour Law Compliance Management Services to different companies in Mumbai and outside Mumbai. For more details, you can visit our website at https://square-jobs.com/hr-services/
Email ID: radius0039@gmail.com
Mobile No: 9819228732
From India
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When you have signed the bond of 3 years with a particular company, which states that you will work with that company for three years, the employer is relaxed and thinks that there is somebody to take care of his company's work for three years.
All of a sudden, after only 5.5 months of work, you start leaving the company because you have found a good opportunity. This action shows that you are only thinking about your own benefits and growth in life.
What if the company where you have found the opportunity also thinks the same way and removes you from service after 2 months of working, stating that "an employee who is not loyal to his previous organization will also not be loyal to our organization, so it is better to not invest in training such kind of employee in our organization."
So, think about this twice before taking the next step.
From Radius Enterprise Solutions, Mumbai. We provide HR & Labour Law Compliance Management Services to different companies in Mumbai and outside Mumbai. For more details, you can visit our website at https://square-jobs.com/hr-services/
Email ID: radius0039@gmail.com
Mobile No: 9819228732
From India
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Bond letter.doc