Summer 2009 URG MBA Program Chapters 4-5

Employee Recruitment & Compensation Employees are the most important resource (after financing!) Job descriptions and requirements Why are they important? Finding employees and screening for best hire How does generation X apply to the job market?

Compensation How do you determine compensation? Market availability Competitors? Components of compensation package Cash/salary Benefits Vacation, sick pay, employee discount, retirement, medical (?????), travel….. Stocks and options Who and how much

Performance Based Compensation Union vs. Performance Performance advantages Rewards employees with good performance Does not reward employees with poor performance Performance evaluations Fair and honest vs dishonest Consistent and performance based, not emotion based Incentive Plans Advantages and disadvantages

Employee termination Employment-at-will states Other options How do you terminate in non-employment at will states? Termination process Usually three step if non-union Documentation-documentation-documentation Termination benefits COBRA

Intangible Capital & Intellectual Property Examples? Employees with “history” with the company Secret formulas Proprietary software College curriculum Syllabi and course content Patents Trademarks

Patents Use of patents Business process patents Patent period (time – 20 years) Copyright period (time - 75 th anniversary) Patent requirements Usefulness Novelty Non-Obviousness Registration Outside the US

Copyright Good for 75 years Digital Media Music Text ????

Trademarks & Trade Secrets Includes Name, logo, product names, and slogans Protected by case law, Federal Laws and state and municipal laws Trade Secrets Instrument, information or formula that may or may not be recorded Non-competitive clauses Apple & Hanes

Employee Topics Employment strategies Outsource or in-house HR Legal aspects? Legal forms?