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Entrepreneurs confronting the unhappy task of having to downsize when business conditions change need to execute in a way that preserves the dignity of, and, ultimately, the relationship with, the employees, says an entrepreneur who laid off her entire staff in the wake of the dot-com crash. Downsizing well involves throwing away the rulebook and dealing with people on a personal level, she writes.
Companies that turn to contractors must structure both the business and the specific nature of the work accordingly, according to a software-company entrepreneur. On the business side, founders need to retain a competent attorney and match the right worker to the job; on the tech side, they must require that contractors produce their work within a framework that can be replicated for other projects, the author advises.
As an entrepreneurial company grows and adds layers of management, it can and should consider policies that address work and family issues or risk inconsistency across departments, writes the founder of a human-resources services firm. The author advises companies to examine four areas: scheduling, flexibility, telecommuting, and childbirth leaves. Increased productivity will be the company's reward.
When key leaders are ready to move on to new challenges or even retirement, their legacy can be greatly diminished without good succession planning.
When it comes to compensation, the issue is not what you can pay, but what you can offer to the people you need to grow.
Compensating contract workers involves negotiating a rate that reflects skills and experience, paying in a timely manner, and possibly offering perks such as professional development, says the founder of a company that develops training manuals. A key is not to treat 1099 workers as employees, the author advises.
Pairing with charities enables entrepreneurial companies to offer a morale-boosting perk to employees while enhancing traditional marketing strategies, says the founder of a consultancy that facilitates such sponsorships.
Getting the best out of temporary workers requires that entrepreneurs treat them as neither employees nor pariahs but rather take a middle ground, says the founder of a staffing service.
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