Startup Compensation Recap

February 22, 2016

By: David-Alan Venable

Startup Compensation, part one of Joynture’s Pitch Perfect series, kicked off last Thursday, with some touchy subjects and a round of techniques to greatly improve your business! Joynture Networking After some networking over wine and beer, Kyle Riggle and Chris Michelsen lead the presentation and opened up conversation with the group on some constructive subjects. Under discussion were Startup Compensation, How to Retain Employees, and Cash Flow. If you missed the first of our four part series, here are some notable topics that were discussed:

1099 contractors vs. staff members for startups – Initially 1099 contractors were proposed favorably with the benefit of giving the employer more flexibility. With contractors, it was argued that no cost of insurance and no retirement benefits would save businesses money. Through open debate, though, the topic was reconsidered to include better plans for retaining top talent.

Uber – With all the talk of 1099 contracting, Uber was the perfect company to examine as this exact topic is a hot debate in current media. Lawsuits and other tricky aspects of employing contractors instead of full-time staff were on the table, giving attendees a well-rounded idea of the pros and cons of contracting.

Saving young employees money – Accommodating younger employees with better pay and more advantageous benefits is a great way to tap into the market of fresh talent. Switching to high deductibles and pairing it with health savings accounts were a couple of the proposed solutions to saving young employees a little money.

Methods for retaining employees other than money – Kyle and Chris engaged with the group and came up with some ideas to keep your employees motivated and happy. They explored working remotely and the tax advantages of working from home, giving a good title, the importance of office space, days off and flexible hours, and team building, just to name a few.

Also, the bottom line: Your company needs sales, and when you have them, you need to be sure to be smart with your money from the start.

Part 2 of Joynture’s Pitch Perfect series,The Communication Equation for Start-Ups and Small Businesses, will be on March 16 from 6pm to 8pm in The Hamilton. Topics under discussion will include the three essential variables of dynamic communication and how to use them to grow your business and solidify relationships.The Communication Equation for Start-Ups and Small Businesses will be led by speaker, author, entrepreneur and recovering academic Jill Schiefelbein.

If you haven’t already, reserve your spot for the next Pitch Perfect presentation by contacting us here. Space is limited, so make sure you grab your spot ahead of time! Come out to Joynture and find out how you can grow your business and find success!

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