It's Your Biz: The Complete Guide to Becoming Your Own Boss by Susan Wilson Solovic; Ellen R. Kadin; Edie Weiner

Author:Susan Wilson Solovic; Ellen R. Kadin; Edie Weiner
Language: eng
Format: mobi
Tags: Non-fiction
ISBN: 9780814416716
Publisher: AMACOM
Published: 2011-10-11T00:00:00+00:00

2. There are plenty of unethical people in this world, and someday one of them may end up working for you. It is part of the risk of building a business.

There are, however, a few things you can do to protect your business as you build your staff:

• Make your company a place where people want to work. Create an environment that’s empowering and fun. Give your staff the opportunity to profit as the business profits. When you help people to feel part of the success, there is less incentive for them to leave and they are more likely to remain loyal. (Think back to the purpose, promise, and principles of your business. They will help you establish a good corporate culture and work environment.)

• Ask employees to sign a noncompete/nondisclosure agreement as a condition of employment. Noncompete documents must be reasonable in time and scope, and you cannot bar an individual from making a living except to the extent that it is necessary to protect your business. The extent to which noncompete documents are allowable varies by jurisdiction, so it is a good idea to consult with your business attorney.

Some people believe noncompete agreements don’t provide much value, but in my opinion they minimize the risk of an employee jumping ship and working for a competitor or starting his or her own business. At least when employees sign these documents, they are aware that there may be serious consequences for actions that could cost you business. If my father had asked his employee to sign a noncompete document, most likely the employee would not have been able to launch a competing business in the same area. An important lesson learned.

Always consult with your legal adviser regarding noncompete/nondisclosure documents.

Evaluate Your Options

Instead of hiring someone full-time, you may have other options for getting help, such as temporary staffing, independent contractors, freelancers, or virtual assistants. Because these workers are not actual employees of your business, you pay only for what you use. This option can help you better manage your cash flow, because you avoid overhead costs involved with employees, such as payroll taxes, unemployment insurance, worker’s compensation, and Social Security taxes. Additionally, you may also avoid fringe benefits such as healthcare coverage, retirement options, and vacation and sick days.

Temporary staffing agencies provide the added benefit of helping you find the right employees. They advertise, screen, interview, test, and check references and backgrounds. (In fact, one staffing agency I worked with helped me more clearly define the job description for a position, which helped me to better identify the right candidate for the job.) Once the temporary employee is on board, the agency also takes care of all the payroll and taxes, so you don’t have to worry about that, either.

Among the alternatives for obtaining help may be outsourcing the work (i.e., to an independent contractor, a virtual assistant, or a freelancer). These workers may be contracted on a project basis or an ongoing basis, but in either case you still pay only for the work they actually do for you.

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