To Be Or Not To Be (Under Contract)

The vast majority of U.S. businesses employ workers on an "at-will" basis. The most significant exception to this general rule? Independent schools.

At-will employment means that the employee is not employed for a fixed term. Most states permit this arrangement, under the theory that society benefits when employers and employees retain the flexibility of ending the relationship for any reason. Mutuality exists: the employee can leave for any reason, with or without notice, and the employer can terminate the worker any time for any reason (as long as the reason is not itself prohibited by law, as in the case of illegal discrimination or retaliation). Except in limited cases (usually involving highly paid executives or professional athletes), few employers today offer individual employment contracts to their employees.