William Keever
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In the corporate world, since most people look for stable, long-term work, it isn't always practical to hire employees for extremely short durations, or there can be shortages of experienced, skilled workers. In these instances, it sometimes makes more sense for a company to find workers via employee lease agreements. These legally binding agreements have benefits both for the employer and employees if properly implemented.
As explained by Entrepreneur, employee lease agreements are contracts by which a primary company "leases out" employees to a business. In this sense, the employees are treated as a resource to be distributed as needed. In these contracts, the primary company is responsible for most aspects of employment such as reporting wages and taxes, while the business to whom employees are leased takes care of paychecks and manages the employees' work. Sample employee lease agreements from Mobile Glaucoma Service, Inc and William Keever of Cumberland School of Law show that the contents of an employee lease agreement include all of the services the employee is to provide for the employer. The employee lease agreement also dictates what resources or forms of compensation the employer is to give the employee. Like any other lease, employee lease agreements also spell out the amount of time designated for the employee-employer relationship. Under employee lease agreements, employers may have a more difficult time terminating or replacing workers who prove unsuitable for the work environment in which they are placed, as the contract obligates the employer to provide work to the employee for the duration of the contract. Employee lease agreements also don't give employers as much leeway in terms of keeping on employees, since the primary company has the right not to renew the employee lease agreement, and since the employees technically are not under the employer's purview. Employee lease agreements permit employers to cover temporary shortages in the workforce while knowing that the employees will find additional work via the primary company even after the employee lease agreement expires. Entrepreneur also points out that working with a primary company may result in lower costs for items such as worker's compensation. Lastly, since the primary company takes care of most administrative duties regarding the employees, the employer has more free time to devote to other business tasks such as production planning or marketing. Most states require that leasing companies be licensed. Additionally, even though the employer is free from most administrative tasks related to the employees, the employer still is obligated to look out for the well-being of the employees. Employers thus need to do a thorough examination of the leasing companies they use in order to make sure that the leasing company has the experience and proper attitude to treat employees fairly under the agreement.
About: WILLIAM KEEVER, J.D. graduated with honors from Cumberland School of Law, magna cum laude, where he served as a published Editor of the Cumberland Law Review and was distinguished as a Curia Honoris Scholar, Dean’s Merit Scholar and Cordell Hull Teaching Fellow. Keever practiced law for fifteen years in the areas of Corporate Law; Mergers and Acquisitions; and Securities Law, and has served as counsel, director and/or executive to various public and private companies. Prior to law school, Mr. Keever completed three years of master level studies (M.Div.) at Southwestern Baptist Theological Seminary. In addition to accomplishments as an attorney, Keever has helped found and/or served as director, executive, or staff member to several charitable organizations.
President of Entrepreneur Group quoted in eHOW article:
William Keever, President of the Entrepreneur Group was recently quoted in an eHow article.
To view the article please follow this link:
http://www.ehow.com/about_7233125_employee-lease-agreements.html.
The following is an excerpt of the article:
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Trusted advice for the curious lifeEmployee Lease Agreements
Definition
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July 14, 2008 (Atlanta): Excerpted From VC Conference, William Keever
“As I have watched entrepreneurs over the years, first as a corporate lawyer, then as a manager of private equity funds, I’ve been able to discern a few fundamental ingredients necessary to the success of any new venture. Certainly there are exceptions to every rule, but exceptions to the following rules seem to only make success that much harder to achieve, significantly increasing the time necessary (and capital necessary) to achieve profitability (the only real benchmark of entrepreneurial success). Consequently, I now advise entrepreneurs and startup managers that the following ten factors are each equally crucial to the speedy success of any new venture:
1. Be Honest - Investors, employees, partners and customers can smell dishonesty – your lies will find you out. Those people important to your success can distinguish . . .
a) True Integrity vs. Appearances
b) True Humility v. Façade (Pride)
2. Do Your Homework – know everything about your idea, concept, business and industry (and never stop learning). This begins with what was discussed above – humility. Admit you don’t know everything (a true sign of wisdom), and crack the books.
3. Count the Costs – be resolved to pay the price(s) for success. Nothing of true value comes without a price. You should know as you embark on any project that its success will come at a price. The process of counting the costs is assessing what those costs will be, and then entering into an honest evaluation as to whether you are willing to assume those costs.
4. Commit – Dedicate yourself to the project with unwavering resolve. Every project eventually hits the proverbial wall. The differentiating factor between those that succeed and those that fail is how they respond when they hit that wall. Some have the resolve necessary to break through the wall, others decide to walk away.
5. Sacrifice – Pay now or pay later, no such thing as something for nothing.
6. Network – all the time, with everyone & with confidence.
7. Get Help – Be willing to ask anyone for help, and always accept help from seasoned, wise, experienced people - Pride has no place in new business ventures.
a) Accept criticism/critique from others – you want the cream to rise to the top.
b) Surround yourself with smart people (smarter than yourself) – accept that you don’t know everything.
c) Don’t hire "Yes" people – and if you already have, bite the bullet and let them go before it costs you dearly.
8. Make Adjustments – be flexible, always be ready to respond to adversity. I’ve never read a business plan or met an entrepreneur or start-up manager that can predict the future. Plans must change in response to the market (e.g. cost of goods/services sold, competition, regulations, human resources, etc.).
9. Don’t Try to Do It All – because you can’t! Partner with other key people and companies – no person or company (even Gates or Microsoft) can do it all. Don’t bite off more than you can chew (and finance). For example, don’t try to be the manufacturer, distributor, retailer and after-market support, etc. Instead, partner with existing companies, leverage their clout, credibility, success, business, customers, channels, pipeline, etc.
a) Product/Services Partnerships - Manufacturer, Distributer, Retailer, etc.
b) Strategic Partnerships – e.g. hardware/software
10. Get Tough – starting your own project is hell. The business world is “dog eat dog.” You must be ready for anything and everything. Take into account Murphy’s Law, what can go wrong will go wrong – and prepare for inevitable set-backs. This translates into a number of important factors, some of which are:
a) Money (the rule of 2) – every venture capitalist will tell you, if you think you need one million to execute a plan, you probably need 2 million.
b) Management – you can’t wear every hat in the company. You need experienced intelligent managers to help you succeed.
c) Mentor – everyone needs someone to use as a sounding board, a confidant that will give us honest advice and guidance, and support us along the road to success. When the going gets tough, all great entrepreneurs retreat to their mentor, sage and/or support group for comfort and advice. No one is exempt from this truth.
Certainly there are ways to cut corners and avoid some of the above factors for success, but such detours normally come at great costs (e.g. reputation, family, friends, and finances). I believe the above defined principles are what separate the truly successful entrepreneur from the rest. There may be additional elements of success, but adhering to the above rules will certainly ensure a proper foundation is laid for a rewarding venture.”
By William Keever
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Resource Documents:
Due Diligence Checklist by William Keever
