entre - chapter 18

nonexempt

A federal government descriptor of employees under the Fair Labor Standards Act who get an hourly wage and time-and-a-half for overtime.

Exempt

A federal government descriptor of employees who are exempt from the Fair Labor Standards Act and are generally paid salaries.

nepotism

A management philosophy of selecting and promoting people based on family ties.

meritocracy

A management philosophy of selecting and promoting people based solely on their being the most capable person for the job.

employee referral

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

open book policy

Concept that key employees should be able to see and understand a firm's financials, that they should have a part in moving the numbers in the right direction, and that they should have a direct stake in the strategy and success of the firm.

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.

Internet Recruting

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

many entrepreneurs?

Never higher anybody

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. (30 - 180 days)

training should be?

a ongoing process

Company website your site receives a fair amount of traffic

and it would incur only a small incremental cost to your website budget.

many universities have

career service offices that encourage companies to post openings to their job bank to recruit at both the undergraduate and the graduate levels.

Employee health insurance?

is not standard among small business

In thinking about how to reward employees,

know that for most employees surveyed, salary rewards, bonuses, and perks were not as important as autonomy and personal growth.

entrepreneurs need to?

look at training as a investment

outsourcing

may be the answer if your small business is not ready to hire employees, but you have a growing need to meet workload demand.

off the job training

methods such as lectures, special study, videos, television conferences or discussions, case studies, role-playing, simulation, programmed instruction, and laboratory training are all possible.

many small business?

never had higher employees more than 30.2 million businesses in the United States in 2015, over 24.3 million had no employees at all—only the owner.

Networking is low cost but will be?

time sensitive