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ARTICLE · 14 JANUARY 2025

Looking Ahead: Is It Time To Update Your Employment Contracts?

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The start of a new year is the perfect opportunity to address budgetary and other financial decisions, including decisions about employee pay increases.

CanadaEmployment and HR
Alizeh Virani
Alizeh Virani
Lynsey Gaudin
Lynsey Gaudin
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The start of a new year is the perfect opportunity to address budgetary and other financial decisions, including decisions about employee pay increases. Now is a great time to review and update your employment agreements to ensure they are up-to-date and compliant with the latest legislative and other legal updates.

When offering an employee a new employment agreement, or amending a material term or condition of employment of their existing agreement, it's important to provide your employee with fresh consideration in order for the new terms and conditions to be enforceable. Consideration can take the form of a signing bonus, an increase in pay or some other new employee benefit.

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