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Top 10 Risks for Businesses

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From the August 5 webinar "Top 10 Risks for Businesses".

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Top 10 Risks for Businesses

  1. 1. © 2015 TriNet Group, Inc. All rights reserved. Reproduction or distribution in whole or part without express written permission is prohibited. TriNet Webinar Top 10 Risks for Businesses Mary Juetten – Founder & CEO Traklight Kelly Pacatte – TriNet Sr. Employee Relations Consultant
  2. 2. 2 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Meet Our Subject Matter Experts - Mary Mary Juetten Founder & CEO Traklight mejuetten@traklight.com @traklight / @maryjuetten • CEI Incubator Graduate • Forbes, ABA LegalTech Contributor • 30 years business experience • J.D., CPA, CA • SNBC, AZ PBS, SXSW V2, LAUNCH Speaker • SUCCESS Magazine Start Small, Win Big 2013 winner
  3. 3. 3 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Meet Our Subject Matter Experts - Kelly Kelly Pacatte TriNet Senior Employee Relations Consultant • Received her MBA from the University of Texas at Dallas • Subject matter expert in areas of employee relations, employment investigations, and EEOC Charge Responses • Over 9 years of human resources experience • Based in Dallas, TX
  4. 4. 4 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Agenda Welcome • Intros • 5 Business Risks • 5 HR Risks • Q&A Session
  5. 5. 5 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Top 5 Business Risks for 2015
  6. 6. 6 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Competing Daily Tasks `
  7. 7. 7 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #1: Don’t go it alone – get an entity! • C Corp • S Corp • LLC Limit personal liability Secure asset ownership
  8. 8. 8 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #2: Co-Inventors & IP Patents: Right to Exclude (Utility & Design) A patent is not: Copyright © A patent is not: Trademark ™ ℠ ® A patent is DEFINITELY not: Trade Secret
  9. 9. 9 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #2: IP Ownership Challenges Multiple Inventors in the US When: Key Dates To Remember • Date of idea/inventions (first to invent  first INVENTOR to file) • Date of use • Date of filing • Date of conversion • Renewals
  10. 10. 10 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #3: Co-founder Handshakes = Headaches • In writing • Buy/Sell • Every time
  11. 11. 11 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #4: Fundraising Careful re new rules on Solicitation Do NOT start with a campaign, pitch or business plan. THIS APPLIES TO ALL FINANCING!
  12. 12. 12 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #4: More Fundraising Crowdfunding options
  13. 13. 13 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #4: Even More Fundraising 80% of a business’ value is in their IP Practice safe crowdfunding Identify IP Protect IP Pick a Platform Build Social Capital Create a Pitch Pick a platform Federal Securities Equity not yet legal instead: 20ish states enacted | 20ish in progress Reg A+ (June 19, 2015)
  14. 14. 14 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #5: Financials • Realistic • Detailed • Know your numbers • Keep books & records
  15. 15. 15 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Top 5 Human Resources Risks for 2015
  16. 16. 16 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Topic #6: Company Managers People Managers represent the company. • Promoted for technical and functional capabilities • Inexperienced • Experienced, but mavericks • Responsible for keeping teams motivated and engaged • Many manager have not received recent management training or participated in development programs Recommendation: Train your early managers on the basics and continue to invest in developing your tenured managers.
  17. 17. 17 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #7: Employee Status Misclassification The Fair Labor Standards Act provides protection for employees, ensuring compensation for all time worked and premium compensation for overtime work. • Most common challenge: incorrect classification of employees as exempt • Incorrectly classified positions result in inaccurate payment of wages; causing costly wage and hour claims • Misclassifying employees as independent contractors exposes company to potential fines and penalties Recommendation: Seek legal counsel with experience in employment law for guidance on classifications.
  18. 18. 18 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #8: Insufficient Documentation of Performance on Behavioral Issues Documenting performance issues is an action designed to halt misconduct or poor performance and protect the company. • Failing to document employee issues creates: • Difficulty for managers • Liability for company • Employee confusion Recommendation: Use a “Record of Counseling” or “Corrective Action Notice” to document performance issues as they arise; seek guidance for objective recommendations and review.
  19. 19. 19 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #9: Nonexistent or Incomplete Job Descriptions Clear job descriptions promote accomplishment of business objectives and protect the organization from charges of discrimination and unfairness. • Clear job descriptions support: • Compensation planning • Recruiting • Realistic expectations • Define essential functions of the job Recommendations: Use a job description questionnaire to assist gathering of information. Cover not only essential functions, but physical and other requirements for ADA compliance.
  20. 20. 20 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Risk #10: Failure to Properly Handle Leaves of Absence Consistent leave policies and procedures are essential for compliance purposes. • Published policies help ensure: • Employees are aware of their rights under the applicable leave laws based on company size work location • Employees understand company expectations of them • Employees know what they can expect from the company Recommendations: Ensure leave policies are documented and accessible to employees. Train managers on the leave process and make sure managers know where to go to with questions and for assistance.
  21. 21. 21 TriNet Webinar Series | © 2015 TriNet Group, Inc. All rights reserved. 06/25/2014 Thank you for your Participation!

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