compensation and hr strategies for entrepreneurs

Compensation and HR Strategies

March 3, 2010

Daren Fristoe

Over twenty years of professional experience in human resources, training and education, and administration.

Industries also including insurance, e-commerce, engineering, customer service, telecommunications, and international manufacturing.

The Cultural Vacuum

Gen X – Born between 1961 and 1981, blending of baby boomer methodical classroom training and the advent of computers and the Internet.

Gen Y – Born between 1981 and 2001, grown up with computers, iPods, and cell phones. Expectation of quick advancement in the workplace.

The Job

Job Descriptions Position Values

Employee Status – Hourly vs. Salary

The Output

How Many Employees Do I Need?

Permanent / Temporary / Contractor

Staffing Cycles / Tools

Compensation

Total Compensation Model

Base / Base Plus / Base Plus Plus

Bonus Models – Team / Individual

External Surveys / Benchmarking

Targeted Recruiting Tools

Internal Postings / Referral Programs

Advertisements / Employment Agencies

Placement Offices / Job Fairs

Online or Community Postings

Industry Publications / Websites

Retention Tools

Employee Development

Coaching / Counseling

Recognition Programs

Value of Ongoing Communication

The Employment Relationship

Value of Ongoing Communicationo Employee Buy-Ino Idea Generationo Commitment to Continuous Improvemento Increased Sales / Productivity

Summary – HR 101

As the boss, determine who you want working for you, how you are going to find them, how you are going to pay them, and how you are going to keep them.

Engage your employees, empower your employees, communicate with your employees, document your interactions and REPEAT THESE STEPS OFTEN!

Questions?

Contact Daren Fristoe by email atdaren@thefristoegroup.com

or by phone(816) 392-7298

www.thefristoegroup.com