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In this video tutorial, Mr. Dice, a business teacher and consultant, introduces and discusses the various types of employment contracts. He highlights the importance of finding a balance between financial pressure on the business and employee loyalty. The key is to set the right expectations and pay employees accordingly. Different types of contracts have advantages and disadvantages that can either add or remove pressure from the business. It is crucial to consider how these contracts fit into the business model and why they are worth considering. The concept of stakeholders is also mentioned as a factor to keep in mind when deciding on employment contracts.