"Human Capital" the Most Important Asset for e-Bizs Employers, Recruiters Share Insight at New York e-Commerce Association Meeting.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 17, 2000 The most important asset for any e-business today is "human capital," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Robert LoCascio, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of LivePerson, a provider of online sales and customer service solutions for Web sites. LoCascio, who was speaking on a panel conference sponsored by the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Electronic Commerce Association (New York e-COMM), said that while many entrepreneurs are focussed on securing capital, they have to make sure they have the right management team and employees in place if they want to attract investors. One of the key missions of New York e-COMM is to educate and support New York area e-commerce businesses on issues related to the new economy. "Attracting and retaining the best employees is on every e-business owner's mind right now," said Bob Johnston
Donald William 'Bob' Johnston (born 14 May 1932, Hillsboro, Texas) is a noted American record producer, best known for his work with Bob Dylan, Johnny Cash, Leonard Cohen, Willie Nelson and many Nashville recording artists, as , NY ECOMM ECOMM European Conference on Mobility Management president. "The fact that this e-panel seminar sold out, shows just how critical the situation is becoming." Michael Flannery, founder & managing partner of Redwood Partners, said that a solid management team is what sets a company apart with venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. . However, he added that finding those people is difficult in today's job market and that, as a result, companies are employing new methods of recruiting including paying employees "finder's fees" for new hires. Michael Drapkin, panel moderator and chairperson of Columbia University's E-Commerce Program, said that a good business model helps "sell" a company to prospective hires, especially senior level staff. "Mid- and junior-level staff may be attracted by large salaries but senior level people are looking at salary plus options, hoping they can stay in the game long enough to cash out," said Drapkin. Dimitri Boylan, chairman and COO of HotJobs.com, an Internet-based recruiting company, said that more e-businesses are recognizing the value of having a human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. person or department that focuses on retaining employees. LoCascio said that his e-business spends just as much of its HR resources on retention as it does on recruiting. "We consider the HR department the mother of our company, putting her arms around everyone to make sure they are happy," he said. Ed Speidel, director of executive compensation for PriceWaterhouseCoopers, noted that a company with a good retention program has less than 20 percent turnover. Non-compensation employee "perks perk 1 v. perked, perk·ing, perks v.intr. 1. To stick up or jut out: dogs' ears that perk. 2. To carry oneself in a lively and jaunty manner. " noted by the panelists included pizza on Fridays, foosball tables and videogames, and allowing people to bring their pets to the office. "Workers want a company that brings value to their life," said LoCascio. "They want the workplace, where they spend so much time, to be like an extension of their home." About NY ECOMM: The New York Electronic Commerce Association is "The Business Association for the New Economy(TM)." It provides senior executives with access to information to help them manage and expand their companies, represents the interest of members on public policy issues and works to attract additional capital, customers and employees to the state. It represents start-ups as well as brick and mortar See bricks and mortar. companies coming online. For more information on New York eComm, please visit http://www.NYeComm.org/ |
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