Small Business Encyclopedia

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

Ads by Google

Category: Employees

Absenteeism

Definition: An employee's deliberate or habitual absence from work

Consultants

Definition: A person engaged to provide professional advice or services for a fee, but not as an employee of the business that engages him or her

Cross Training

Definition: Teaching your employees the skills and responsibilities of another position at your company to increase their effectiveness

Executive Recruitment

Definition: The act of using a personnel firm to locate potential candidates to fill open senior-level management or other critical positions in your company

Hiring

Definition: The practice of finding, evaluating, and establishing a working relationship with future employees, interns, contractors or consultants

Human Resources

Definition: The department or support systems responsible for personnel sourcing and hiring, applicant tracking, skills development and tracking, benefits administration and compliance with associated government regulations

Independent Contractor

Definition: A person hired to do work for another but who is not an employee or agent of that person. Control is subjected to the end result and not as to how the work is performed as opposed to an employee who receives direction on what, when and, to some degree, how to do a job.

Interns

Definition: A person, usually a student, participating in a program of temporary, supervised work in a particular field in order to gain practical experience

Leased Employees

Definition: Workers who are officially employed by a professional employer organization, which is responsible for overseeing all HR-related functions, but who actually perform all work for your company

Minimum Wage

Definition: A wage below which employers may not legally pay employees for specific kinds of employment

Payroll Management

Definition: The administration of the financial record of employees' salaries, wages, bonuses, net pay, and deductions

Performance Reviews

Definition: An analysis of an employee's work habits undertaken at a fixed point in time to determine the degree to which stated objectives and expectations have been reached

Professional Employer Organization (PEO)

Definition: A company that technically "employs" the workers of several other companies and oversees all HR-related functions

Professional Service Providers

Definition: Individuals who provide your company with specialized service, including but not restricted to lawyers, accountants and management consultants

Telecommuting

Definition: The practice of working from home for a business and communicating through the use of a personal computer equipped with modem and communications software

Temporary Workers

Definition: Employees who are not permanently hired but hired just for limited periods of time

Wellness Programs

Definition: Services focused on the promotion or maintenance of good health rather than the correction of poor health

Free Business Tools

Forms

Forms

Download and customize these free forms:

Partnership Agreement

Cashflow Worksheet

Employment Application

Calculators

Calculators

Evaluate and analyze your financials:

Cash Flow

Starting Costs

Discounted Cash Flow

Ads by Google

Latest Articles

How Marketplaces Keep Customers Coming Back
Customer Loyalty

How Marketplaces Keep Customers Coming Back

The success of many companies rests in their teams' understanding of one very crucial business factor: returning patrons.
Tx Zhuo
The 3 Principle Sources of Funding Every Startup Needs
Funding

The 3 Principle Sources of Funding Every Startup Needs

For many founders, raising money is the single most stressful part of getting their startups off the ground. Here's how to fix that.
Josiah Humphrey
5 Must-Dos Before Becoming an Entrepreneur
Entrepreneurs

5 Must-Dos Before Becoming an Entrepreneur

Put yourself in the right mindset -- otherwise, you'll spend most of your time struggling to keep your head above water.
Think Small to Win Customer Loyalty
Customer Loyalty

Think Small to Win Customer Loyalty

Behave as if losing a single patron will put you out of business.
Jason Wesbecher
Write an App Store Description That Excites With These 5 Tips
Mobile Apps

Write an App Store Description That Excites With These 5 Tips

Here are a few tips that will help you write a description for your mobile app that has the potential to hook users into downloading.
Rahul Varshneya
The Airlines and Hotels That Rank Highest for Customer Service
Customer Satisfaction

The Airlines and Hotels That Rank Highest for Customer Service

Which companies came out on top? Find out here.
These Two Franchises Fill Gaps in the Home and Health Care Markets
Why I Franchised

These Two Franchises Fill Gaps in the Home and Health Care Markets

After successfully starting a franchise in the home inspections industry, Bill Redfern launched a second franchise in the home health care sector.
Is Your Workplace a 'Jerkplace?' Here Is How to Fix It.
Employee Morale

Is Your Workplace a 'Jerkplace?' Here Is How to Fix It.

One of the most important aspects of running any successful business is creating a work environment where good people actually want to work.
Rich Waidmann
Sick of Working for Someone Else? Here are 3 Things You Must Do Before You Quit Your Job.
Quitting a Job

Sick of Working for Someone Else? Here are 3 Things You Must Do Before You Quit Your Job.

If you want to go out on your own, there are a few things you must do before you dive in head first.
Nick Ruiz
Oscar, the Health Insurance Startup, Now Valued at $1.5 Billion
Startup Funding

Oscar, the Health Insurance Startup, Now Valued at $1.5 Billion

The company has also seen triple the number of people enrolled in the last 12 months.
Erin Griffith
11 Easy Ways to Save Your Business Big Bucks
Saving Money

11 Easy Ways to Save Your Business Big Bucks

There are several simple things you can do to cut costs and find what is, essentially, free money.
Levi King
The Business Impact of Authentic Leadership
Leadership Qualities

The Business Impact of Authentic Leadership

"Be yourself" has new meaning in today's workplace culture; make sure you practice it.
Anka Wittenberg
How Much Value Are You Really Bringing to the Team?
Employee evaluations

How Much Value Are You Really Bringing to the Team?

Baseball, the most statistics obsessed sport, can teach business owners important lessons on measuring employee contributions.
Marty Fukuda
Why Entrepreneurs Should Be More Like 'Gas Stoves'
Emotions

Why Entrepreneurs Should Be More Like 'Gas Stoves'

Allowing yourself to quickly burn off frustration and move on from stressful situations is an incredibly valuable attribute to refine.
Peter Gasca
4 Do's and 4 Don'ts for Businesses Using Social Media
Social Media Marketing

4 Do's and 4 Don'ts for Businesses Using Social Media

If you want to guarantee a more effective strategy, follow these tactics and avoid ones that will do more harm.
Deborah Mitchell
More Articles