MGMT 321 Chapter 19
Employee Referall
an underused, low-cost method for finding workers that rewards your employees for recommending potential candidates that would be a great employee fit
Adverse Selection
as the venture grows, it becomes increasingly difficult to find the right employees, place them in the appropriate position, and provide adequate supervision
Open-Book Policy
concept that key employees should be able to see and understand a firm's financials
Virtual Employees
independent contractors who provide specialized business services or support from a distance
Internet Recruiting
method of recruiting that allows you to search a resume database or post a job description to the web
Moral Hazard
new hires typically do not have the same ownership incentives as the original founders, so new hires may not be as motivated as the founders to put in long hours and may even try to avoid work
Psychological Contract
refers to employees' beliefs about the promises between the employee and the firm
Employee Fit
the match between the needs, expectations, and culture of the small business with the expectations and the skills of the individual employee
Probationary Period
trial period in which an employee has temporary status before a formal offer to work full time is presented