Chapter 18

employee referral

An underused, low-cost method for finding workers that rewards your employees for recommending potential candidates that would be a great employee fit.

open-book-policy

Concept that key employees should be able to see and understand a firm's financials

off-the-job

Includes lectures, special study, videos, television conferences, case studies, role-playing, simulation, programmed instruction, and laboratory training

virtual employees

Independent contractors who provide specialized business services or support from a distance, through the Internet, telephone, fax, or another method of communication

internet recruiting

Method of recruiting that allows you to search a résumé database or post a job description to the Web

psychological contract

Refers to employees' beliefs about the promises between the employee and the firm

The Four Bottom Lines

You, Your Family, Your Business, and Your Community

job description

defines and discusses all the essential knowledge, skills, and abilities that are needed to fill a position

on-the-job training

delivered to employees while they perform their regular jobs

exempt

generally paid salaries

nepotism

hiring people based on family membership

nonexempt

hourly wage and time-and-a-half for overtime

Entrepreneurial Leadership

leadership really means administration two tasks: task and person

meritocracy

promoting people based on them being the most capable

living wage

the amount needed for a person to meet the basic necessities of life from a single job

probationary period

trial period in which an employee has temporary status before a formal offer to work full time is presented