Small Business Encyclopedia

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

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

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

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

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

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

Minimum Wage

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

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

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