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Operating Plan Return to chapter video Go to Business Plan Question |
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There are many points that require consideration when employing people to assist with the operation of your business. These relate to the hiring of staff, your legal obligations to employees, staff management and the termination of employment.
When hiring new staff, you will need to consider:
- Type/Number of employees
- Hidden costs of employment
- Employee roles and responsibilities
- Employee skills, attributes and experience
- Recruitment costs, time and resources
You will also need to make yourself aware of your legal obligations as an employer including:
- Occupational Health and Safety regulations
- Workers Compensation cover
- Employee Superannuation
- Equal Employment Opportunity and anti-discrimination legislation
- Wages and leave entitlements
- Taxation obligations and records/reporting
It is also important to be able to manage and retain your employees. In order to effectively do this you should consider:
- Employee induction, training and development
- Policies and procedures to reduce and deal with complaints, disputes and employee relations
- Reviews, feedback and incentives in regards to employee performance
At some stage you may be faced with ending a staff member's employment. Therefore it is important to have thought about the following:
- Policies and procedures for ending employment through either resignation, redundancy or dismissal
- Employer obligations to employees who have resigned, been made redundant or dismissed
Effectively managing the people within your business is fundamental to its success. It is important to be able to find, recruit, develop and retain good employees. By doing so, you can ensure that your employees understand the objectives of the business and work towards business development and customer satisfaction.
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