Free Compensation Agreement
A document outlining the details related to a change in wages or earning potential for an employee.
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It is fairly common for businesses to hire employees at a lower pay rate during a probationary period. Or, perhaps, the length of time an employee has been with the company warrants a raise. Either way, you may adjust an employee’s rate of pay through a Compensation Agreement.
With a Compensation Agreement, you can formally record changes to an employee’s compensation. Think of it as an amendment to the original employment agreement. This document can also be used to provide your employee with non-monetary compensation like additional vacation days.