Training Bond Agreement Singapore
We have a letter of commitment/understanding. First, we meet with the staff and explain the objective. We also make employees understand the costs and opportunities invested. We ask for mutual understanding and expressly request an obligation to remain in the company for a specified period [regardless of the relevant period]. Everything that is said is written down and the staff thwarts their understanding and approval. For employees sponsored by the company for further studies, the duration of the term of the loan is linked to the total monetary value of the sponsorship. Employment obligations are very useful for employers. It is an employer-friendly tool to discourage workers who give up their jobs as soon as something better happens after the employer has invested in the worker. It helps employers minimize their losses in situations where the worker must stay with the employer for a period of time. If a company loan is required, it is convenient for us to write a letter to employees that states all the sponsorship conditions for the course to be taken. The staff must sign the letter in recognition/agreement on the terms and conditions; including the clause that staff are required to reimburse the company`s course costs in the event of the departure or withdrawal of staff within a specified period (including the termination of services by the company), staff are required to reimburse the company`s course costs.
This refund could be adjusted so that, if staff leave the course in 6 months, 8 months or anything, the amount of the refund can be adjusted accordingly. If employees had not been informed in advance of their obligations or obligations, I think the company may not be resorting to recovering costs from employees. Simply put, the terms of the borrowing clause will determine their applicability. At first glance, this seems fair and reasonable – the employer should have the right to demand compensation and reimbursement for the money spent on training, modernization and training. They should be protected from a worker who stops after training, upgrade and continuing education, in order to find a better job after the employer`s investment in the worker. However, workers should still have the right to resign, even during the agreed period. An employment contract is not intended to “enslave” the worker or prevent the worker from leaving. It allows the employer to make the effective estimate of the injury only if the employee withdraws during the borrowing period.