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Many employees have written contracts that specifically dictate employment terms and conditions. Those employees who do not are considered "at-will" employees. Generally, at-will employees do not face contract issues unless they are a) offered a severance package, or b) asked to sign a document specifically dictating a particular condition of employment (e.g., a "non-compete" agreement).
Every contract is different. In many cases, contracts affect rights that employees do not even know they have. Contracts may also affect employee rights in cases where something occurs during the employment relationship. Questions about contracts, meanwhile, may arise at the beginning and end of employment relationships.
The bottom line: You should have counsel review every employment contract before signing—especially those implying or expressly stating that such a review is necessary or appropriate.
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