Reneging Signed Job Offer for Another?

[riversandlakes]

I've always wondered what exactly the legal penalty is for this:

Accepting a job offer (as in signing the offer letter) and later reneging it to accept another.
I did that once to a dairy products manufacturer, and got away scott-free, besides being blacklisted there now.

For sure I do not these dishonorable things for fun. You see, you wanted Job B more than Job A, but Job A came first and true with that Black & White than Job B - and you might not get Job B in the first place...

I'm seeing another such "scenario monster" looming on the horizon. World's #1 financial institution is hiring, but dragging its feet at an impossible pace - 1 month and no 2nd round, yet the recruitor says it's because they ARE really dragging their feet. And the 2 interviewers and I had such a good time "sparring" in that 1st interview, with many "very good"s from them to boot.
I'd think I've not lost this one, but I won't bet my financial security on it...

At the same time, going into 2nd and 3rd rounds elsewhere

Any ideas, especially from long-time folks in the workforce?

[Miss Swan]

Can you actually do that? I have no idea what the penalty is, but once you've put your signature down, on that very contract, you're in a way, legally bound.

So unless you're willing to pay compensation on their terms, hardly anyone will do what you're suggesting.

[Frenchman]

I would think its best to make a decision before hand, if possible, however, in some cases, you may have to do that.
Besides ruining your reputation with the company, I believe you should be liable under the contract. I.e give notice, which time can change since you may be in a probation period....it depends on the terms of the contract.

[Saint]

I wouldn't worry about it as it happens all the time. Signing the letter of offer only means you are agreeing to the terms that the company have offered you.

[riversandlakes]

Just remembered that firms do that too - Firm C in my home state offered a job to a guy and reneged that offer after the quarterly results went bad. "Sorry", they said.

Looks like free lunch, no?

[ringo100]

I think there would be no problem. Just some burnt bridges.

[brifusg]

Look like some forks here are talking things in countries other than Singapore. In Singapore, can we actually do that?

[riversandlakes]

Yes, yes, is it permissible in Singapore?

[Saint]

Yes, yes, is it permissible in Singapore?

I've just spoken to Mrs S who used to work in the HR dept of a DBS and she agrees with what Ringo100 and I have said.

So no worries mate

[uk-kiwi]

make sure your agency makes it clear to company A that you are interviewing elsewhere so if they are dragging their feet then they may hurry up a bit (if they think you are worth it!). when company B gets serious about offering you a job, or does in fact offer you a job, just tell your agency that you are looking to sign but you'd prefer to hear from company A first as it's your preferred. they will pass that info on and if you are a serious contender then they won't let you fall through the net - used to come across this scenario all the time in the IB i worked for. those that were just in the maybe pile we told to go for the other job and those we initially thought were definately potentials we expedited before a competitor got to sign them up. use your agency to play it a little...they only get their commission after you have stayed in a job for say 3 or 6 months so they will want you to be happy.

[k1w1]

I have seen a contract recently where the employee agrees to pay the employer 10,000 SGD, if they sign the contract and then do not start it. I guess it has happened often enough to them.

Where I currently work, there are several stories of people just not getting off the plane in Changi, and never talking to the employer again - contract is signed but they are MIA.

Just make sure there's no clause that could bite you, I guess.