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4 Tips For The Self-Employed Tradesman

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Branching out and becoming self-employed can be both exciting and frightening but worth it for the extra control you can have over your work. You will, however, need to take note of a few things before you get started as there are a few things you need to keep on top of. If you’re currently a self-employed tradesman, or looking to become self-employed, read on for some tips you may want to take on board.

Insurance

Even though insurance may seem costly, you never know when you might need it. There are many different types of insurance you can take out, so it is important that you choose what is best suited for you. Remember to also insure your tools, equipment, and anything you may use on a regular basis as well. If you are a little bit confused about what type of insurance to take out, contact a specialist such as Tradewise Insurance who will be able to guide you in the right direction.

Advertising

Word of mouth is considered to be one of the most effective and free methods of advertising. However, if you are finding that work is a little scarcer than you would like, you may want to consider advertising on places like Gumtree, your local newspaper, or even distributing flyers around your local neighbourhood. If you’re just starting out, it may be difficult to get clients if they don’t even know that you exist – advertising can help you get your name and services out there.

Service

Provision of high quality customer service is paramount when it comes to being self-employed. There are plenty of other tradesmen out there who can take your place in an instant, so it is important to be punctual, and to complete your work to the best of your ability. Build a rapport with your customers, so they will keep you in mind for other jobs they might have and maybe even recommend you to their friends. You never know where putting that extra bit of effort will take you.

Accounts

Taking care of your accounts may seem boring and time consuming, but it will help you out immensely when it comes to doing your taxes. Make sure you keep strict records of everything you do and keep the receipts and invoices from all your jobs. Put in all of your income as it comes in, and don’t be slack! Arrange for one specific day or time a week to get all of this done and out of the way so you don’t have a backlog of work to do at the end of the month or year.

Being self-employed can be tough, but it can also be a lot of fun. Just make sure you have all the necessary strategies and processes in place and you will be good to go!

Are you currently a self-employed tradesman? Do you have any tips for those who are planning on embarking on a similar path? What have you found most useful and what types of things do you avoid? Leave your thoughts in the comments section below.

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WATCH: Trump’s Speech at the Economic Club of New York

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TRump's Econimc Speach Veterans DAy

Trump’s speech at the prestigious Manhattan club is expected to credit his policies for the strong economic numbers felt during his presidency.. Trump will likely highlight the low unemployment rate and high consumer confidence, as well as wage growth.

The president’s address is also expected to touch on his trade policies, the official said, amid continued negotiations over “Phase One” of a trade overhaul with China.

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Former McDonald’s CEO Stephen Easterbrook Getting Millions Leaving Spotlight on Pay Gap

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Stephen Easterbrook

Former McDonald’s CEO Stephen Easterbrook is getting an exit package of almost $42 million 

At first glance, it might appear that Stephen Easterbrook left his post as CEO of McDonald’s Corporation with peanuts. But a closer look reveals is getting an exit package of almost $42 million after his relationship with an employee was found to violate company policy. The size of his compensation puts a new focus on the widening gap between the pay at the top and the bottom of the corporate ladder.

According to an analysis by executive-compensation experts at Equilar, Easterbrook’s exit package totals $41.8 million, which includes six months of severance pay, shares he can cash out in the future and other equity. And that amount is in addition to $23.8 million in stock options that Easterbrook can exercise now.

“Wow, he is walking away with a lot of money,” says Cornell Law School professor Stewart Schwab, an expert on employment law. “And it comes out as part of the story of just, wow, [the] 1% getsa lot more money than the rest of the workers in this economy.”

It’s relatively unusual for a CEO to receive a severance package after being fired. But the board of directors at McDonald’s determined his firing to not be for cause — a threshold that varies by company. And litigation in a protracted dispute can be tricky and expensive.

Writing to employees this week, Easterbrook said: “I engaged in a recent consensual relationship with an employee, which violated McDonald’s policy. This was a mistake.” No further details were disclosed, but McDonald’s current policy prohibits employees who “have a direct or indirect reporting relationship” with one another from dating or having a sexual relationship.

McDonald’s latest disclosures show that in 2018, Easterbrook made $15.9 million. That’s 2,124 times more than a McDonald’s median employee — a part-time crew member working in Hungary. According to Glassdoor, a U.S. crew member at McDonald’s makes an average of $9 an hour.

McDonald’s did not respond to NPR’s inquiries, including those about median salary in the United States.

“A big story of the income inequality and explanation for it is that top executives, and in particular the CEO, does have the exploding pay compared to the rank and file,” Schwab says. “And this is an example of that.”

Easterbrook joined McDonald’s in 2015, and his tenure was praised by company watchers. The fast-food chain’s stock price hit historic highs under his efforts to revamp both the restaurants and the menu.

But Easterbrook also presided over the company as it faced allegations of rampant sexual harassment of female employees by male co-workers and managers. (To be clear, his departure does not involve harassment allegations.)

In May, workers in 13 U.S. cities staged protests against low pay and the company’s handling of alleged sexual harassment. In recent years, dozens of McDonald’s workers have filed sexual harassment complaints, alleging everything from lewd comments and groping to retaliation

“What we see all the time from minimum-wage workers is that once you complain, retaliation is common,” says Sharyn Tejani, director of the Time’s Up Legal Defense Fund, which works with victims who allege sexual harassment.

“That takes the form of losing shifts, losing your job, not being able to stay at your job, being disciplined. And … they don’t have any cushion,” she says. “And when you compare that to what happens to somebody like the CEO, it’s clear that there’s a structural problem here.”

Following worker complaints, McDonald’s announced in August that it would introduce an anti-harassment training program for U.S. workers. The program, which began in October, trains restaurant supervisors and crew members on how to create a safe workplace and defuse difficult situations.

Earlier in the year, McDonald’s also made an unexpected commitment to no longer lobby against minimum-wage hikes at the federal, state and local levels. In mid-2015, McDonald’s added at least $1 an hour more to the local minimum wage to employees of the restaurants owned by the corporation. The majority of McDonald’s locations are owned by franchisees.

In 2015, research by the UC Berkeley Center for Labor Research and Education found that more than half of fast-food workers rely on public assistance programs like food stamps. The research did not specifically focus on McDonald’s.

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McDonald’s CEO fired for consensual relationship with employee

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McDonald’s CEO Steve Easterbrook out after ‘poor judgment’ involving relationship with employee

McDonald’s board voted to remove CEO Steve Easterbrook, the fast-food giant announced on Sunday, citing “poor judgment involving a recent consensual relationship with an employee.”

Chris Kempczinski, the current president of McDonald’s USA, has been named CEO effective immediately. He will also join the board.

“Kempczinski succeeds Steve Easterbrook, who has separated from the Company following the Board’s determination that he violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee,” the company said.

McDonald’s CEO Easterbrook, who is divorced, wrote in an email to employees that the consensual relationship “was a mistake.”

“As for my departure, I engaged in a recent consensual relationship with an employee, which violated McDonald’s policy,” Easterbrook wrote. “This was a mistake. Given the values of the company, I agree with the board that it is time for me to move on. Beyond this, I hope you can respect my desire to maintain my privacy.”He also said that his time as CEO “have been the most fulfilling years of my working life.”

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Easterbrook had served as CEO since March 2015. Easterbrook, who is British, joined McDonald’s in 1993 as a financial reporting manager based in London. Throughout his career, he served as the global chief brand officer, president of McDonald’s Europe, and CEO of McDonald’s U.K. He also spent time as a McDonald’s restaurant manager. On a now-removed corporate webpage, McDonald’s said Easterbrook led its turnaround “by sparking the evolution of its company culture.”

Enrique Hernandez Jr., chairman of McDonald’s board of directors, called new CEO Kempczinski “the best leader to set the vision and drive the plans for the Company’s continued success.”

“He has the right mix of skills and experience to lead us forward having run our U.S. business, where franchisees are delivering strong financial and operational results, and overseen global strategy, business development and innovation,” Hernandez said in a statement. “In particular, Chris was instrumental in the development of the Company’s strategic plan, which has enabled global growth and leadership, and has overseen the most comprehensive transformation of the U.S. business in McDonald’s history.”

Meanwhile, Joe Erlinger, president of the international operated markets, will take over Kempczinski’s most recent role as president of McDonald’s USA, effective immediately.

Shares of McDonald’s closed down 1.4%, -$2.76, on Friday to end the week at $193.94.

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