Although the law of Rhode Island requires employers in this state to pay employees the cash compensation to which the employer agreed, many employers choose to also offer other forms of compensation, the terms of which might not be so clear cut.
For example, as this blog has reported on previous occasions, many employers offer incoming executives stock options, generous retirement packages and other incentives to get them to come to work for the new employer, even if it means leaving a great position.
Before making a move to a new firm under such circumstances, an executive would be wise to investigate the precise terms of his or her new employer’s job offer, particularly when it comes to non-cash compensation.
The details of stock options, for example, can be quite complicated, especially as they involve the buying of company stock from the employer at a future date. It is not always easy for an executive, well-informed though she may be, to get a full appreciation of what this benefit is really worth to her. Not having a clear picture of what an employer is offering, however, can end with an executive making a bad decision to change firms.
As part of our practice, our law office can help an executive review and, if necessary, negotiate the terms of an offer for new employment. We can review the exact details of what benefits an employer is offering and identify where the benefits are a particularly good deal, or a not-so-good deal, for our client.
This process is a good investment, as, at a minimum, it can give an executive peace of mind that he or she is making the right decision, and it can even help an executive realize that what might have seemed like a good deal was actually not right for them.