Chapter 10
LESSONS
10.1
Hire Employees
10.2
Create a Compensation Package
10.3
Manage Your Staff
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING

Lesson 10.1
HIRE EMPLOYEES
GOALS  Determine the positions your business needs.
 Recruit, interview, and select an employee.
 Consider alternatives to hiring permanent staff.
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Chapter 10
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IDENTIFY YOUR NEED
FOR EMPLOYEES
 What kind of employees do I need?
 What skills am I missing?
 What skills do I need daily?
 What skills do I need occasionally?
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Chapter 10
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WRITE JOB DESCRIPTIONS
 A job description is a written statement listing the duties and responsibilities of a job.
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CREATE AN
ORGANIZATIONAL STRUCTURE
 An organizational structure is a plan that shows how the various jobs in a company relate to one another.
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RECRUIT EMPLOYEES
 Classified advertising
 Employment agencies
 College placement centers
 Other ways of recruiting employees
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HIRE EMPLOYEES
 Know what to look for in an employee
 Screen job applicants
 Interview job applicants
 Check references
 Make a job offer
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ALTERNATIVES TO ADDING STAFF
 Hire freelancers or interns
 Freelancers are people who provide services to businesses on an hourly basis or by the job.
 Interns are students who will work for little or no pay in order to gain experience in a particular field.
 Hire temporary workers
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Chapter 10
Slide 9
Lesson 10.2
CREATE A COMPENSATION PACKAGE
GOALS  Determine the amount of pay for employees.
 Identify a benefits portion of a compensation package.
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Chapter 10
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WAGES AND SALARY
 Compensation levels
 Pay competitively
 Types of pay
 Hourly wage
 Salary
 Commission
 Combination plan
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Chapter 10
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BENEFITS
 Paid leave
 Vacation
 Sick leave
 Insurance
 Health benefits
 Other kinds of insurance
 Pension plan
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Chapter 10
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Lesson 10.3
MANAGE YOUR STAFF
GOALS  Lead your employees by developing a management style and desirable leadership qualities.
 Motivate your employees by delegating responsibility and listening.
 Evaluate your employees.
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LEAD YOUR EMPLOYEES
 Levels and styles of management
 Desirable leadership qualities
 Enforce employee policies
 Train your employees
 Safety practices and procedures
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DESIRABLE LEADERSHIP QUALITIES
 Judgment
 Honesty
 Consistency
 Enthusiasm
 Cooperation
 Communications
 Dependability
 Understanding
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Chapter 10
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TRAIN YOUR EMPLOYEES
 On-the-job training
 Coaching
 Mentoring
 Conferences and seminars
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MOTIVATE YOUR EMPLOYEES
 Pay them well.
 Treat them fairly.
 Recognize them for the work they do.
 Give them adequate responsibility.
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DELEGATE RESPONSIBILITY
 To delegate is to let other people share workloads and responsibilities.
 Benefits of delegating responsibility:
 Employees are better motivated and contribute more.
 You can focus on important items.
 The company can grow.
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LISTEN TO EMPLOYEES
 Listening to new points of view may help you come up with new, creative solutions.
 If you value the opinions of your employees, they will feel they are a valuable asset to your company.
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Chapter 10
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WORK AS A TEAM
 Employees who work as a team are usually very committed.
 They are more likely to work harder and to come up with creative ideas for increasing profits.
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MAKE A GOOD TEAM
 Establish trust among team members and gain their trust.
 Make sure that all team members understand the goals you have set.
 Encourage team members to be creative and innovative.
 Make team members feel like partners in your business.
 Help team members learn from their mistakes.
 Build the team’s commitment to achieving the goals you have set.
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EVALUATE YOUR EMPLOYEES
 Create an evaluation procedure
 Promote employees
 Terminate employees
Chapter 10
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