Ppt 3
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Compensation in Start-Up Companies
Andreya DavisTrish TurnerMatt Boone
Kristofer BorchardMichele Boren
Dustin Haytema
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It’s Movie Time !!
“Dirty Work”< What a great business idea >
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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.
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Any ideas for a start-up?
If this process were easy, wouldn’t everyone own their own company?
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How are we going to break this issue up?
Employers Perspective
Employees Perspective
Two viewpoints of the situation are better than just one!!!
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What are employers of start-ups searching for?
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We Need Employees!
What Are We Looking For?MotivatedDedicated IndependentKnowledgeableOpen Minded
How Do We Obtain This? Intrinsic RewardsExtrinsic Rewards
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What Else Do We Consider?
Legal Considerations:
Wage withholding Payroll Tax AccountsEmployer I.D NumberWorkers Compensation and InsuranceCompliance with FLSA
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How to Compensate Beyond the Legal Minimums
Employer must decide what to offer (Afford):Base Pay
Salary vs Hourly Rate
Stock OptionsHealth Benefits401 K PlansVacation PackagesCombinations
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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
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It’s Movie Time Again!!
“Boiler Room”Isn’t this what every employee is looking for?
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What Are Employees Looking For?
02468
10121416
What You Ranked Most Important(Results From January 21 Survey)
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What Are Employees Looking For?
0
2
4
6
8
Benefits Incentives Coworkers Important work
What You Ranked Second Most Important(Results From January 21 Survey)
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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
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A Company That Did It Right
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JetBlue
BeginningsDavid NeelemanFebruary 11, 2000 Investment Capital:
$130 Million100% First-class
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Employees
Want great costumer service “Real enticements to come from the inside
out.” Motivated by intrinsic…
Work-life balanceElimination of Titles
…and extrinsic rewardsComprehensive pay and benefit package
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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
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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!!!