Category: Employees and Consultants
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Why Giving Your Employees Phantom Stock Can Boost Your Company
The problem of motivating and retaining key employees without giving away your company’s equity can be solved by the use of a phantom stock plan. Many company owners are hesitant to provide key employees with an actual company ownership interest. Such an ownership interest would likely entitle key employees to notice, inspection, and voting rights.…
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Labor Day Labor Law Links
Here’s a short Labor Day Weekend themed post. Check out the following links regarding United States Labor Law: United States Department of Labor Compliance Assistance Policy Fair Labor Standards Act Family and Medical Leave Act Employee Retirement Income Security Act Occupational Safety and Health (OSH) Act The links provided cover federal labor law and most…
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When to Use an Anti-raiding Provision
As an employer, you make countless investments in your employees. Whether your employees realize it or not, you commit major financial resources, time and training to make your staff a company asset. How do you protect your asset from being looted by a former employee? Consider adding an “anti-raiding” clause to your employment agreements.
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Drug Testing Your Employees
According to the United States Department of Labor, reasons employers implement drug testing are to: Deter employees from abusing drugs and alcohol; Prevent hiring individuals who use illegal drugs; Provide early identification and referral of employees who have drug and/or alcohol problems; Provide a safe workplace for other employees; Ensure general public safety and instill…
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Draft a Complete Employment Contract
Continuing with the theme of prevention, a wise entrepreneur drafts an employment contract for each and every employee he or she hires. But a wiser entrepreneur ensures the employment contract contains all the terms of the employment agreement, leaving little room (hopefully none) for later debate. If you aren’t thorough drafting your employee’s contract, I’ll…