Nowadays, an employee and an employer sign a contract, which makes all of the contract’s terms legally binding on both parties. It specifies the pay to be paid, the employee’s position within the organization, stipends, and benefits, if applicable, among other things. If the employment contract (Employment Bond Renewal Letter) is for a set period of time or if the employee is on a trial period, the contract will end on the set period. If both the employee and the employer are happy with the current arrangement, they can renew the work contract.
The Employment Renewal Letter is sent to tell the employee when an employment contract comes to an end owing to the completion of the specified service or the stipulated time frame of work, and the employer extends the contract.
It specifies the length of time that the employment contract will be extended. It is always written by the employer, and it is normally reserved for the most deserving employees. It also explains why such an extension has been granted.
If you do not want to take the hustle of writing the letters, we have a solution for you. Ultimate Business Systems is an HRMS Software that offers you ready-to-use templates for not only the employment renewal letter but all the other HR letters that may be required for a smoother and faster onboarding process.
Now, you might be thinking about what makes us different from the competitors. The answer is the Live Edit feature. Unlike our competitors, we provide a live edit link where you can just click on the link, edit the letters on the website itself and they are ready to use. Convenient, Right?
Employment Renewal Letter is an acknowledgement of the interest of an employee to extend the current bond with the company. It also confirms that the discussions have been made on the same interest. Employment Renewal Letter is the proof of these discussions and specifies the terms of the renewal. In short, it is proof of the mutual agreement between the employer and the employee to continue working with the organization for the future.
Providing employment renewal letters to the employees is a crucial part of the HR management process. However, writing the same letter each time when you need to issue it to the employee can be a bit boring and time-consuming. We’ll solve this problem for you.