What is an Employee?
An employee is an individual hired to work for a company in exchange for financial compensation. An employee’s compensation for work can come in the form of an hourly wage or an annual salary. The rules a business must follow when paying employees are set by the Fair Labor Standards Act (FLSA).
There are a lot of moving parts in a company. It takes an incredible amount of effort to run a company, and the startup founder can only accomplish a certain amount of work on their own. This is where employees come in. Employees allow business owners to delegate tasks and responsibilities to others. This helps a business become stronger since it can spread workloads across multiple resources.
Employees are given a specific job to accomplish, which is usually determined by the skills and abilities of the employee. When a company is searching for an employee to lead their marketing department, they will seek out individuals with marketing skills to take on the role. A company will pay an employee more if they have more experience and ability to complete these specialized tasks.
Employees can negotiate their compensation for the work they do. There are lots of factors an employee can negotiate with an employer:
- Hourly Wage or Annual Salary
- Investments and Equity
- Terms of Separation
- Work Schedule
- Non-Compete Clause
- and much more
In Startup Wars, you will have the option to hire employees for your company. There is no requirement to hire employees, however, once a company’s workload exceeds a founder’s capabilities it is normal for them to seek employees for assistance.
You can view an employee’s skills and determine who is the best fit to complete a specific task. Employees in Startup Wars will complete a task much faster if they are skilled in the category of that task. For example, an employee who is great at design will complete a design task much faster than someone who is only good at marketing. Use your knowledge of your employee’s strengths to get the most use out of them.