Recruitment glossary
What is a Fixed Term Contract (FTC)?
A fixed-term contract refers to a working relationship between employee and employer that only lasts for a specified period of time. The contracts automatically ends at the period noted in the contract and therefore doesn’t require any process to be initiated by either party. These contracts are mostly used during periods of absence of permanent staff including for maternity cover, illness or injury or where the role is attached to a short-term project. Full and part time employees hired under a fixed-term contract are still entitled to paid leave.
Related terms
Superannuation is an organisational pension program created by a company for the benefit of its employees.
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Redundancy occures when an employer reduces their workforce because a job or jobs are no longer needed.
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