Who to Hire & What to Consider Hiring Practices Who to Hire & What to Consider
Think About… When hiring companies must consider: Cost: Advertising, time to interview, training costs, etc…. Training: takes time, money, and slows down production Will the employee work out for you? Can you fill the vacancy by shifting responsibilities to another employee?
Evaluating Resume’s Should consider the following: Professionalism: is it put together well? Experience: What are they bringing to the table? Schooling: Degree’s, diploma’s, etc… Employment History: Gaps in employment, why they are switching jobs? Availability: Is their schedule flexible? Wages: How much are they expecting to be paid? Volunteer Experience: Relevant to the position?
Compensation How much do you pay your employees? Two schools of thought here. Pay workers above average Pay workers average/below average.
Above Average Workers are happy Employees will probably work harder Don’t always have to hire as many people Employees are less likely to switch jobs
Below Average Hire more people since you are paying less Many people are happy to just have a job Put more money into training
Compensation Money paid to employees in the following forms: Hourly wages Salary Commission and combinations with wage and salary Incentive bonus Performance based pay Stock options
HOURLY WAGES MINIMUM WAGE: is the lowest hourly wage an employer can pay OVERTIME PAY: paid when employees work more than regular hours. Overtime is 1 ½ or twice the regular hour
SALARY A salary is a fixed amount per year. Paid: Once a week Bi-weekly - Once every two weeks Semi-monthly Monthly
STRAIGHT COMMISSSION Paid a percentage of sales Ex. Retail, real estate, vehicles Sales x commission rate = Gross pay
INCENTIVE BONUS: Reward for good performance based on measurable standards. Example: Employees are given sales or production targets and will be given a bonus for reaching them. PERFORMANCE BASED PAY: Exceeding the expectations of the job Example: Exceeding company goals
Walk About Activity There are 9 pictures around the room white boards at each. Answer the following question on the white board. 1)What is the first thought that pops into your head relating to this picture?
2) What do you think the picture is trying to communicate?