The tide may be turning away from remote work arrangements, such that companies are seeking enhanced control over the workday, including direct contact with and by employees. The change will be good for some companies but not necessarily for all, depending upon the nature of the business. We’ll see what happens as companies that make the change monitor the impact on their bottom line. … Read More
I was recently interviewed by Ladders, a media publication covering workforce issues, regarding yet another case involving social media and employment.
The article discusses how a former employee of a global recruiting and staffing company was forced to remove thousands of her LinkedIn contacts because the company claimed the relationships didn’t belong to her, but the company. As the details of the employee’s employment contract or any confidentiality or non solicit agreement that may have been signed are unknown, one can only speculate whether she had the right to do so.… Read More
Our firm is a sponsor of RegentAtlantic’s Wall Street Women Forum to be held on April 26 in New York.
I will be attending and am looking forward to the event, which will “address career and personal issues in the face of the rapidly changing landscape of the industry.” For more information on the upcoming event, you may visit RegentAtlantic.com.… Read More
With news of Morgan Stanley’s plans to make significant cuts in its debt and currencies ranks across all offices (Wall Street Journal, December 1, 2015, page C1), the importance of having your “employment disaster recovery bag” at the ready is highlighted. Included in that “bag” should be your offer letter; any confidentiality, non-solicit, non-compete, work for hire and/or garden leave agreement; employee handbook; and any document or plan relating to your equity, deferred compensation, bonus, pension, or any other aspect of your employment.… Read More
As the official days of summer wind down and Labor Day weekend approaches, many other transitions will be under way. We are anticipating the reopening of schools, resumption of college and graduate classes, more traffic and new traffic patterns, and businesses focusing on the approaching fourth quarter.
Next week, we must re-adjust the pace of our lives back to the pre-summer norm.… Read More
The Wall Street Journal reported that thousands more banking and trading jobs will be cut. Some firms plan to cut experienced employees and replace them with more junior folks and utilize “campus hiring.” This is interesting. To save on expenses, the bank will eliminate more experienced employees, while keeping younger, less experienced, and, without question, less efficient employees. Therein lies the true cost of expense reduction.… Read More
In Part I and II, I discussed getting an employment agreement in writing, understanding the salary component, and details of the equity. The next critical step to take in the negotiation of an employment package is:
Don’t Forget the Fringe Benefits. Many executives overlook the value that fringe benefits and perquisites (“perks”) bring to an overall compensation package. These can be “found money” for the executive and a way for an employer to lure new talent into its ranks.
It appears that the trustee in bankruptcy is considering bringing suit against former executives of failed MF Global for “breach of fiduciary duties.” News reports indicate that there are insurance policies in place that will provide coverage for the executives for their “wrongful act” legal defense fees. While the author is not opining on the actions of the MF Global executives, the issue illustrates the significance for C-suite executives to obtain maximum indemnification coverage, not only as provided under a company’s bylaws, but also under insurance policies of indemnification (referred to as “errors and omissions” or “directors and officers” insurance policies). … Read More
I was recently asked when you should retain counsel in connection with termination of your employment. The answer depends on your individual situation.
If you are experiencing difficulties in your current position or anticipate being fired, counsel can be a helpful behind the scenes guide. Strategies can be implemented to help achieve better than initially expected results in the event of a termination of employment.… Read More
Today is a Strategy Day. Today’s strategy is “GET IT IN WRITING!!”
Seems obvious, but you would not believe how many individuals start employment without a writing. This happens regardless of the law requiring offer letters in many jurisdictions.
While “GET IT IN WRITING” are words that you would expect to hear from an attorney, it really holds true. You should not leave one job until you memorialize and both parties sign an agreement to the terms of the new job.… Read More