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Job Offers and Hiring

Job Offers and Hiring. MANA 4328 Dr. George Benson benson@uta.edu. Types of Contracts. Legal Employment contract Employment-at-will Psychological An implied contract Employee promises: Hard work, extra effort, commitment to company goals.

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Job Offers and Hiring

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  1. Job Offers and Hiring MANA 4328 Dr. George Benson benson@uta.edu

  2. Types of Contracts • Legal • Employment contract • Employment-at-will • Psychological • An implied contract • Employee promises: Hard work, extra effort, commitment to company goals. • Employee expects in return: Job security, fair treatment, development, pay and benefits.

  3. Employment-at-will • VS. • Employment Contract

  4. Employment-at-will • Employer not obligated to retain for specific time • Termination for any legitimate reason without liability • Disclaimers in applications and offer letter • Employment Contract • Employment for a definite period of time • Entitlements for compensation / benefits

  5. Offer Letter • Legal document • Should be carefully worded • Creates obligations (intended or unintended) • Letter from HR or legal • Attraction tool • Final incentive for prospective hire • Should make new employee feel welcome • Letter from manager or company president

  6. Job Offer Content Start date • Usually allows notice for previous employer Benefits • Usually a blanket statement and refer to HR documents Conditions of employment • Reference checks, drug screen, I-9, medical exam etc. Other conditions • Confidentiality / Non-compete / Arbitration Working hours Acceptance date

  7. Job Offer Content Base compensation • Based on payroll schedule rather than annual salary • Payment schedule (especially if monthly) • FLSA designation Bonuses • As specific as possible including dates and criteria Stock options • Consult an expert • Grant price / criteria / vesting / contingencies

  8. Job Offer Content • Integration clause • Letter contains all terms and conditions • Letter supercedes all other documents or conversations • Employment-at-will disclaimer • Employment is not for a specific duration • Employment terminable by either party at any time • Include the “magic words” but don’t go overboard

  9. Responses Yes • Follow immediately with positive communication • Instructions for start day (when, where, etc) No • Try to find out why • Working conditions vs. $$$ Maybe / More time.... • Find out when • Answer any questions

  10. Those Not Selected Maintain positive relations with fair treatment • Inform promptly • Thank them for applying and acknowledge the effort • Tell them they were a finalist with good skills to offer Most companies do not provide details of decision Keep applications on file Notify by mail or by phone for higher jobs

  11. Independent Contractors “You have been retained as an independent contractor.... ....for the XYZ project... ....to be completed by ABC date.” “As a contractor you are not entitled to any benefits.... ....company will not withhold any taxes, FICA or other deductions.”

  12. Pricing Jobs – Point Systems Point System • A quantitative job evaluation procedure that determines the relative value of a job by the total points assigned to it. Point-factor systems – Managerial jobs • Hay System • Know-how • Problem solving • Accountability • More points equals higher salary

  13. Pricing Jobs – Market Pricing Market Pricing • Salary surveys • Salary.com • Watson Wyatt • Trade associations

  14. Median Household Income

  15. Median Household Income Median Income 2004 (50% Above 50% Below) United States $44,473 Texas $41,275

  16. U.S. Income Distribution 2001

  17. What is a Degree Worth?

  18. Educational Attainment in Tarrant County

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