Verbal Agreement for Rise: What You Need to Know

When it comes to employment agreements, one of the most important aspects is compensation. Employers and employees alike need to agree on a fair and reasonable salary or wage for the work being done. When these agreements are made verbally, rather than in writing, things can get a bit more complicated. This is particularly true when it comes to agreeing on a raise or increase in pay.

Verbal agreements for salary increases are generally not legally binding, which means they can be difficult to enforce. However, they can still be a valuable tool for employers and employees alike, as long as both parties are clear about their expectations and intentions.

Here are a few things to keep in mind when making a verbal agreement for a raise:

1. Be Clear and Specific

When discussing a raise, it`s important to be clear and specific about what is being agreed upon. This includes the amount of the raise, the date it will take effect, and any conditions or expectations that need to be met in order for the raise to be granted. Both parties should be on the same page about the terms of the agreement.

2. Follow Up with a Written Confirmation

While a verbal agreement can be useful, it`s always a good idea to follow up with a written confirmation. This can help avoid any misunderstandings or disputes down the line. A written confirmation should include the terms of the agreement, as well as the date and signatures of both parties.

3. Keep Records of Communication

It`s also important to keep records of any communication related to the verbal agreement. This can include emails, text messages, or notes from meetings. Having a record of what was discussed can help ensure that both parties are held accountable for their commitments.

4. Consider a Formal Contract

In some cases, it may be beneficial to create a formal contract outlining the terms of the verbal agreement. This can provide added protection for both parties and ensure that the agreement is legally binding. If you`re considering a formal contract, it`s a good idea to consult with an attorney or legal expert.

In conclusion, verbal agreements for raises can be a valuable tool for both employers and employees. However, it`s important to be clear, specific, and follow up with a written confirmation. Keeping records of communication and considering a formal contract can also provide added protection and ensure that both parties are held accountable for their commitments.