Reference no: EM133204110

This part of the business plan is very important because some business plan readers place a great deal of weight on who the entrepreneurs are and with whom they are surrounding themselves.

Business plan writers often say what they want to achieve - often things like the best work environment, an appealing organizational culture, and a diversified workplace. By themselves, these types of statements do not add much if any value to a plan. Adding the reasons why they want to achieve these things will improve the plan, but it is only when writers detail how they will achieve these things that they will advance their credibility and provide information that readers will value.

Name of the: Sigma Telecom 

The following are some key questions addressed in human resources plans.

• How do you describe your desired corporate culture?
• What are the key positions within your organization?
• How many employees will you have?
• What characteristics define your desired employees?
• What is your recruitment strategy? What processes will you apply to hire the employees you require?
• What is your leadership strategy and why have you chosen this approach?
• What performance appraisal and employee development methods will you use?
• What is your organizational structure and why is this the best way for your company to be organized?
• How will you pay each employee (wage, salary, commission, etc.)? How much will you pay each employee? 
• What are your payroll costs, including benefits?
• What work will be outsourced and what work will be completed in-house?
• Have you displayed and described an organizational chart?
• What will be included in partnership agreements (can include a sample one in an appendix to the business plan if this would add value)
• What types of insurance systems will you have? For example, will you carry key person insurance coverage?