In today's episode of The Biz Doctor, Lauren Goldstein is joined by Jenny Young, Esq., partner at Vela Wood, where she leads the firm’s employment law division.

Have you ever wondered if you should really spend that upfront money to draft an iron clad employment contract or if copy paste from some pages on Google will suffice? Or if you’re actually doing all the correct things when it comes to hiring.

As someone who asked those very question once or twice early on in her business, Lauren can tell you that having an iron clad employment contract is THE BEST investment for your business and making sure all your t’s are crossed and i’s dotted, the very topic of today’s episode. Later in the episode, Lauren shares a juicy story to back it up!

If you have a team or are thinking about hiring, this is going to be a gold mine of an episode to help you avoid several critical pitfalls business owners fall into when it comes to hiring that could cost your business.

Specifically, Lauren and Jenny dive into:

• Classification of workers: Who and how are workers determined to be employees or independent contractors and what are the penalties for misclassifying workers?
• Compensation and pay for workers: What are minimum wages and why contractor agreements should be in writing
• Why employment contracts are so important and how they differ from an offer letter.

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Vela Wood has many free resources for business owners that you can access on their blog here: https://velawood.com/blog/ or tune into one of their amazing podcasts here: https://velawood.com/podcasts/

If you would like to connect with Jenny about her legal services or the services that Vela Wood could provide to you and your business she can be reached at: jyoung (at) velawood (dot) com

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Meet your host. Lauren Goldstein is founder and CEO of the award-winning and globally-recognized business consulting firm, Golden Key Partnership.

Her clients lovingly call her “The Biz Doctor” (which also happens to be the way this podcast got its name). Her superpower is helping 7-figure service-based entrepreneurs uncover what is keeping them stuck in the trenches of their business, so that they can have more freedom, profitability, impact, success, happier teams, and can breathe a much needed sigh of relief.

She’s been featured in Thrive Global, Huff Post, Authority Magazine and is a trusted expert to fortune 500 companies like Apple, Nike, and AT&T, among others.

For more from Lauren, and to learn more about her signature diagnostic framework or how she helps business owners get out from under her business visit her website https://www.GoldenKeyPartnership.com

You can also connect with her on instagram (www.instagram.com/itslaurengoldstein) or LinkedIn (www.linkedin.com/in/laurenegoldstein)

The Biz Doctor is produced by Story Studio Network. www.storystudionetwork.com/