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Transcript

  • 1. Compensation in Start-Up Companies Andreya Davis Trish Turner Matt Boone Kristofer Borchard Michele Boren Dustin Haytema
  • 2. It’s Movie Time !!
    • “ Dirty Work”
    • < What a great business idea >
  • 3. How does this pertain to start-ups?
    • Every company starts with one great idea.
      • Their idea was generated by market demand.
      • The events that come next are typically the hard part.
  • 4. Any ideas for a start-up?
    • If this process were easy, wouldn’t everyone own their own company?
  • 5. How are we going to break this issue up?
    • Employers Perspective
    • Employees Perspective
    • Two viewpoints of the situation are better than just one!!!
  • 6. What are employers of start-ups searching for?
  • 7. We Need Employees!
    • What Are We Looking For?
      • Motivated
      • Dedicated
      • Independent
      • Knowledgeable
      • Open Minded
    • How Do We Obtain This?
      • Intrinsic Rewards
      • Extrinsic Rewards
  • 8. What Else Do We Consider?
    • Legal Considerations:
      • Wage withholding
      • Payroll Tax Accounts
      • Employer I.D Number
      • Workers Compensation and Insurance
      • Compliance with FLSA
  • 9. How to Compensate Beyond the Legal Minimums
    • Employer must decide what to offer (Afford):
      • Base Pay
        • Salary vs Hourly Rate
      • Stock Options
      • Health Benefits
      • 401 K Plans
      • Vacation Packages
      • Combinations
  • 10. Why is compensation important?
    • Tons of new start-ups
      • Generated from the Dot-Com boom
    • Start-ups are offering non-traditional as well as traditional compensation systems
      • Stock options
      • Anything to entice the prospective employee
    • The current down-turn in the economy
      • Skepticism of compensation within start-up is very high right now
  • 11. It’s Movie Time Again!!
    • “ Boiler Room”
    • Isn’t this what every employee is looking for?
  • 12. What Are Employees Looking For?
  • 13. What Are Employees Looking For?
  • 14. Why would you join a start-up company?
    • Endless opportunity for advancement
    • Becoming a major owner in the firm
    • Having a voice in the company
    • The chance to make a difference
  • 15. A Company That Did It Right
  • 16. JetBlue
    • Beginnings
      • David Neeleman
      • February 11, 2000
      • Investment Capital: $130 Million
      • 100% First-class
  • 17. Employees
    • Want great costumer service
    • “ Real enticements to come from the inside out.”
      • Motivated by intrinsic…
        • Work-life balance
        • Elimination of Titles
      • … and extrinsic rewards
        • Comprehensive pay and benefit package
  • 18. Compensation at JetBlue
    • Market matched compensation strategy
    • Benefits
      • Medical/dental/life insurance
      • Short-term disability
      • EAP’s
      • 401 K plan’s
      • Profit sharing
      • Stock purchase plan
      • Paid time off
      • Flight benefits
  • 19. What Have We Learned?
    • Get lots and lots of start up capital
    • Be knowledgeable on how to compensate and motivate
    • Watch the dough roll in!!!