Small Business Encyclopedia
Category: Employee-managementFlexible Work Arrangements
Arrangements that allow employees to have a more variable schedule as opposed to complying with the standard 8-hour workday
Goal Setting
Establishing short- or long-term objectives, usually incorporating deadlines and quantifiable measures
Employee Handbook
A document that includes information that employees may need to refer to frequently in order to meet the terms and conditions of their employment
Employment Contract
An agreement entered into between an employer and an employee at the time the employee is hired that outlines the exact nature of their business relationship, specifically what compensation the employee will receive in exchange for specific work performed
Job-Sharing
An employment option that lets two people share the responsibilities of one full-time position
Exit Interview
The formal conversation that takes place between an employee and an HR or other manager to determine the reason(s) the employee is leaving
Mentoring
Educational and/or professional development support provided by experienced colleagues
Motivating Employees
Using both tangible and nontangible rewards to keep employees enthusiastic, loyal and interested in continual improvement
Terminating an Employee
A document that outlines the procedures involved when employees are fired, with or without cause
Training Programs
Programs designed for training employees in specific skills
Noncompete Clause
Contracts between you and your employees in which your employees promise not to take what they learn while working for you and use it against you while working for a competitor. A typical noncompete agreement says the employee agrees not to work for rivals, solicit business from current clients, or otherwise compete with you for some period of time, such as a year, after leaving your company.
Severance Pay
Money in addition to wages and any other money that employers owe employees when their employment ends, such as through a layoff or firing. Severance pay is a form of what's generally called "separation," "termination" or "final pay."
Popular Articles
Canva Is Going Viral For a Questionable Musical Performance at a Company Conference: 'Peak Cringe'
Canva Create took place in Los Angeles on May 23.
These Are the Highest Paying Jobs in Every U.S. State, According to a New Report
Certain states pay higher salaries for the same job.
Is Consumer Services a Good Career Path for 2024? Here's the Verdict
Consumer services is a broad field with a variety of benefits and drawbacks. Here's what you should consider before choosing it as a career path.
T-Mobile Acquires USCellular in $4.4 Billion Deal: 'Even More Consumers Will Benefit'
The deal was announced on Tuesday.
'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years
In an interview with Entrepreneur, Kickstarter CEO Everette Taylor explains the decision-making behind the changes, how he approaches leading Kickstarter, and his advice for future CEOs.
87 Service Business Ideas to Start Today
Get started in this growing industry, with options that range from IT consulting to childcare.
