GoalsList and describe the steps in the hiring process.

Describe compensation packages for employees.

Identify laws protecting employee rights.

Slide 1

Staff Your Business

wages

salary

bonus

profit sharing

commission

benefits

Slide 2

Terms

Screen Candidates•remove candidates who are not right for the job

Review and Verify Job Applications

•confirm accuracy of information

•check referencesSlide 3

The Hiring Process

•Sell your business. The candidate is interviewing you too!

•Make the interview effective.

What questions should you ask the candidates?

Slide 4

Interview the Best Candidates

Chapter 11

Make a Job Offer

Slide 5

Chapter 11

Types of Pay• wages

• payments for labor or services that are made on an hourly, daily, or per-unit basis

• compensation varies based either on hours worked or units produced• salary

• an amount of money paid annually for a job position• payment is not dependent on the number of hours worked

Slide 6

Compensation Package

Chapter 11

• a financial reward made in addition to a regular wage or salary

• usually hinges on reaching an established goal

profit sharing• employees are paid a portion of the company’s profits

Slide 7

bonus

Chapter 11

• a percentage of a sale paid to a salesperson

• compensation varies based on sales

Commission-Only Plan• when a worker’s entire salary is paid in commission

• Amount of commission =

Amount sold × Percent of commission

Slide 8

commission

Chapter 11

• Total Pay =

Base Pay + CommissionPay Competitively• To attract the best workers

• offer compensation that is better than your local average compensation

Slide 9

Combination Plan

Chapter 11

• employment rewards for service in addition to salary

Paid Leave• vacation

• sick time

Slide 10

Benefits

Chapter 11

• health• dental• life • accident

Retirement Plans• 401k

• employer contribution matching• pension plans

Slide 11

Insurance

Chapter 11 Slide 12

What may be included in a compensation package for employees?

Chapter 11

Fair Labor Standards Act (FLSA) of 1938

Civil Rights Act of 1964

Age Discrimination in Employment Act of 1967

Slide 13

Regulations that Protect Employees

Chapter 11

Immigration Reform and Control Act of 1986

Americans with Disabilities Act (ADA) of 1990

Family Medical Leave Act of 1993

Slide 14

Occupational Safety and Health Act (OSH Act) of 1970