I waited until the new year to resign so that I could receive my bonus for 2023, but my employer said that I have to be employed at the time any bonuses are paid. That is totally unfair. Even if the company decides not to pay bonuses until March it is still money I earned in 2023. Please advise.
I advise you to read your company’s policy and bonus plan documents before you resign. Oh, wait — too late!
There are many nuances to how compensation such as commissions and bonuses are earned and paid, and they can vary by state.
But requiring employees to be employed at the time bonuses are paid, and paying them three months later and requiring employment in order to be eligible, is not unusual or unlawful in most states. (And no, you can’t give three months’ notice of resignation to cover the period — your employer is under no obligation to honor any notice that you give and could ask you to leave the same day that you resign. Cold but true.) Next time, do what every other employee does: Resign after you cash the check.
The NY governor just vetoed the ban on non-compete agreements — does this mean I can now stop my employees from taking what they learned at my company to a competitor?
Well, first a little primer. The goal of the law was to ban employers from restricting employees from switching jobs, the thought being that it gives employers too much control over an individual’s freedom to seek gainful employment in the same line of business.
The agreements primarily apply to senior executive positions and are part of negotiated terms of employment, but the reality is that non-compete agreements are difficult to enforce, even if legal.
Some are overly restrictive and don’t hold up in court. Many companies don’t even try to enforce them; they are merely a deterrent. Plus, most employees don’t hold any secrets that could be damaging to a former employer anyway.
The bottom line, some form of ban on these agreements for certain roles is likely to be passed. And, if you treat your employees well, you are less likely to lose them to the competition anyway.
Gregory Giangrande has over 25 years of experience as a chief human resources executive. Hear Greg Wed. at 9:35 a.m. on iHeartRadio 710 WOR with Len Berman and Michael Riedel. Email: GoToGreg@NYPost.com. Follow: GoToGreg.com and on Twitter: @GregGiangrande