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The Cost of Employee Turnover for a Small Business

by David SwiftApril 8, 2021 8:00 AM

As a small business owner, it’s essential to understand how different events affect your bottom line. Sometimes this process is as easy as checking an invoice, but other cases are not quite as clear. This is exactly the issue when it comes to employee separation costs.

Losing an employee costs you more than just a member of your business. The departure of an employee can cost your business in a variety of ways. Let’s break down the reasons for employee separation, the true costs of employee turnover, and what you can do to prevent talented people from leaving your business.

A small business owner walking past empty chairs and dealing with the costs of employee turnover.

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Human Resources

6 Ways to Maintain Workplace Compliance

by David SwiftMarch 23, 2021 8:00 AM

Whether you need to follow legal regulations or simply have some company rules, workplace compliance requirements are crucial for any small business. Unfortunately, it’s not always easy to get employees on the same page. 

It’s important for small businesses to take some steps toward encouraging a compliant workplace. Encouraging this type of culture can help businesses save on workers’ compensation, create a safer workplace, and help everyone stay on the same page. Let’s break down what you can do to get your employees to buy in to your company’s rules. 

A man hooking into a safety harness to meet workplace compliance requirements.

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Human Resources

New Employee Forms: Essential Onboarding Documents for Small Businesses

by David SwiftMarch 16, 2021 1:49 PM

Hiring a new employee is an exciting occasion for a small business. However, it does call for a lot of paperwork. 

The onboarding process requires new employees to review and sign several documents. These papers range from government forms to records specific to your business. Regardless of their purpose, it’s important to make sure new hires address these documents shortly after they join your company. Let’s break down the various documents required for onboarding a new employee.

A small business owner handing over onboarding documents and other new hire employment forms. 

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Human Resources

Co-Employment 101: What Does it Mean for a Small Business?

by Matt SchoolcraftFebruary 22, 2021 8:00 AM

As a small business owner, you’re always trying to find new ways to make your business simpler, safer, and stronger. Co-employment is one way that employers can not only accomplish these goals, but also save time by leaving HR tasks to the experts.

A co-employment relationship with a Professional Employer Organization (PEO) allows small business owners to outsource key HR functions like payroll and employee benefits. While co-employment can help employers free up their responsibilities, it’s not always clear exactly how this relationship impacts a business. Let’s break down what co-employment means and why it may make sense for your organization.

Two hands shaking over a co-employment agreement between a PEO and a small business.

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Human Resources

How to Calculate Payroll Taxes for a Small Business

by Matt SchoolcraftFebruary 12, 2021 8:00 AM

When you own a small business, you have several responsibilities that you need to oversee throughout the year. Payroll tax management is one of the more notable obligations that are on your plate. Unfortunately, it’s not necessarily obvious how to estimate payroll taxes for a small business.

While it’s not the most enjoyable job, it’s critical that you calculate payroll taxes correctly. Every employer must withhold payroll taxes from each paycheck, so proper handling of these deductions is important to both your employees and the government. This responsibility is a lot of pressure for a small business owner who isn’t familiar with how to withhold payroll taxes. That’s why we’ve put together a breakdown of how to calculate payroll taxes for your small business.

A small business owner learning how to calculate payroll taxes. 

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Payroll

Performance Review Best Practices: 7 Tips for Conducting Meaningful Employee Appraisals

by Matt SchoolcraftFebruary 1, 2021 8:00 AM

The employee performance review has been a standard business practice for decades. However, not all organizations recognize that there’s a fine line between a valuable performance review and an unhelpful one. 

When done well, performance reviews are an incredibly powerful tool for driving employee success. When done poorly, they simply waste time and leave employees frustrated. The downsides of bad performance reviews have led some companies to shift away from performance reviews in recent years. However, it’s better to solve these issues than avoid them altogether.

There is immense value to developing an open, honest avenue for managers to discuss an employee’s performance and opportunities for growth. Let’s break down what your business can do to create positive appraisal experiences that drive your employees to succeed.

A small business owner conducting an employee performance review with appropriate best practices. 

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Human Resources

Workers’ Comp Costs: How Small Businesses Can Save Money on Workers Compensation

by Paul AldrichJanuary 27, 2021 8:00 AM

If you own a small business, there’s a good chance you need to carry workers’ compensation insurance to cover any work-related injuries or illnesses. Requirements for workers’ compensation coverage vary by state, with some states requiring businesses with as few as one or two employees to carry workers’ compensation insurance. Applicable companies that don’t comply will face penalties ranging from fines to criminal charges.

Of course, carrying workers’ compensation insurance has some financial challenges as well. Between premiums and other factors, managing workers’ compensation has a direct impact on your business’ bottom line. Let’s break down how workers’ compensation affects your business and what you can do to lower your financial burden.

An employee using safety training to reduce workers’ comp costs and claims for small businesses. 

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Risk Management

Payroll Forms: A Guide for Small Business Owners

by Tim AustinJanuary 13, 2021 8:00 AM

Payroll forms can put a lot of pressure on business owners. When you’re in charge of a small business, it’s up to you to make sure that these forms are not only completed accurately, but on time as well. If you’re not careful, the penalties can range from $50 per faulty form all the way up to hundreds of thousands of dollars for notable violations.

One of the biggest struggles of managing payroll forms is simply knowing which forms apply to your business and what they do. We’ve compiled a list of payroll forms that you’ll likely need to know for your small business and how they work.

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Payroll

Encouraging Positive Mental Health in the Workplace

by Kayla BohuslawskyJanuary 4, 2021 8:00 AM

2020 has brought an abundance of challenges to people all over the world. It seems that when we think that things can’t get any worse, we are hit with another obstacle. With all the uncertainty, lost jobs, illness, and lack of toilet paper, it’s easy to say that this year has been anything but a smooth ride. 

Overall, this year and pandemic has taken a major toll on many people’s mental health and well-being. It is so important now more than ever to be aware of your employee’s health and be sure they are given the necessary resources to live as stress free as possible. 

An employee relaxing to help support mental health in the workplace. 

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Human Resources

OSHA Compliance Checklist: What are My Responsibilities as a Small Business Owner?

by Tim AustinDecember 28, 2020 8:00 AM

Running a business is difficult enough. Keeping track of the Occupational Safety and Health Administration’s regulations makes your job as an employer even more complicated.

It’s not uncommon for small business owners to not fully understand the OSHA regulations that apply to their business – after all, there are a lot of them. However, noncompliance with OSHA regulations can not only put your employees in potential danger, but also lead to costly penalties that will set your business back financially. 

An inspector with an OSHA compliance checklist with requirements for small business owners. 

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Risk Management

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