Most businesses are started by people like Bill Gates CEO of Microsoft or Frank Vandersloot CEO of Melaleuca who are ambitious and enthusiastic about what their new business will make, sell, buy, or fix.
Your small business has weathered its ups and downs, but the slow economic recovery has caused you to rethink everything. No longer can you expect robust earnings month over month — indeed, just turning a profit can be a big challenge with rising regulations, health care costs, and sharp competition weighing in.
To carry out your business’ operation you need employees whom you can trust. Sharing information about your business without your authorization can damage your company, perhaps through exposing trade secrets to a competitor or sharing new product strategy.
Employee compensation includes pay, money that is offered by hourly wage or through a salary. Many companies use both pay methods, providing hourly compensation for most workers and a fixed salary for managers and certain exempt employees.