GLC’s Employment Compensation & Benefits practice provides advice and assistance on legal matters in connection with employee recruitment, promotion and other advancement issues, increments and bonus issues, termination and equity arrangements as compensation.
Here is a high-level overview of our services in this area:
RECRUITMENT STRATEGY
Different clients adopt different strategies when it comes to recruitment. In some cases, the recruitment of full-time employees may make sense, while in other cases, clients may simply benefit from hiring independent contractors or consultants. Right from understanding our client’s context and background, our team of capable lawyers advises our clients on different recruitment strategies and also handles the relevant contractual documentation pursuant to the needs of the client. Our advisory and contract review and drafting services also include the areas of promotion and other advancement issues, increments and bonus issues, and various issues related to termination, such as notice period disputes, retaining of documents, advances or security deposits and the like.
CEO/CTO/VP RECRUITMENT
Recruiting for a C-Suite position can be a daunting task considering the critical role that these employees play on behalf of the Company, and also because said candidates can bind the company to a number of third-party obligations. C-suite recruitment is also complex because a number of times it involves the potential buy-out of notice period, buy out security deposits, and other such “parachute” issues that relate to a high-value target employee. Our team can be involved in end-to-end recruitment of C-suite candidates, right from conducting due diligence, all the way to negotiating buy-out provisions on behalf of the clients.
ESOPs, SWEAT EQUITY SCHEME & OTHER BENEFITS
We advise our clients on structuring their equity-base compensation schemes, for e.g., ESOP schemes or sweat equity schemes, keeping in view our clients’ goals and objectives, which are generally to retain their talented workforce, but at the same time protecting their shareholder interest in ensuring that any parted equity is utilized for maximizing the shareholder value. We also help work with clients on a range of statutory and non-statutory benefits that they may offer their employees, including the regulatory landscape surrounding such benefits. E.g., earned/sick leaves, social security schemes (including Employees Welfare Fund, Group Insurance Policies, Provident Fund, Pension), medical and educational facilities, death/disablement benefits, educational programs, maternity/paternity leaves, payment of gratuity, retirement benefits, unemployment, workers’ compensation etc.