Small Business Management Chapter 19
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. Should have a direct stake in the strategy and success of the firm. Should have a part in moving the numbers in the right direction.
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. Techniques include orientations, job instruction training, apprenticeships, internships and assistantships, job rotation, and coaching.
Off-the-Job Training
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 resume database or post a job description via the web.
Job Analysis
Reason the job exists Mental or physical tasks involved. How the job will be done. The qualifications needed for the job.
Psychological Contract
Referes to employees' beliefs about the promises between the employee and the firm. Beliefs are based on the perception that promises have been made in exchange for certain employee obligations.
Living Wage
The amount needed for a person (or family of a particular size) to meet the basic necessities of life from a single job.
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.
