Verbal agreements are a common way of conducting business in many workplaces. Whether it`s a verbal agreement between colleagues or a verbal agreement between management and employees, it`s important to understand the potential risks and benefits of this approach.

First, let`s define what we mean by a verbal agreement. A verbal agreement is simply an agreement made between two parties without any written documentation of the agreement. This means that the agreement is not legally binding and can be difficult to enforce if either party fails to uphold their end of the agreement.

One of the benefits of a verbal agreement is that it can be a quick and easy way to get things done. For example, if two colleagues agree to split the workload on a project, they can quickly come to an agreement without having to go through the process of creating a written contract.

However, verbal agreements can also be risky. Without a written agreement, there is no clear record of what was agreed upon. This can lead to misunderstandings, disagreements, and even legal issues down the line. Additionally, if one party fails to uphold their end of the agreement, it can be difficult to prove that an agreement was even made in the first place.

To mitigate some of these risks, it`s important to take certain steps when making a verbal agreement at work. These steps include:

1. Clearly define the terms of the agreement: Before making a verbal agreement, make sure that both parties have a clear understanding of what is being agreed upon. This includes details such as timelines, responsibilities, and any other relevant information.

2. Follow up with an email: While a verbal agreement may not be legally binding, following up with an email summarizing the terms of the agreement can help to ensure that both parties understand what was agreed upon.

3. Keep a record of the agreement: While there may not be a written contract, it`s still important to keep a record of the agreement. This could include notes from the meeting where the agreement was made or a summary of the agreement in an internal system.

In conclusion, verbal agreements can be a quick and easy way to get things done at work. However, they also come with risks that should be carefully considered. By taking the steps outlined above, you can help to ensure that any verbal agreements made at work are clear, understood, and recorded in some way.