Small business owners put in a lot of work to make their business succeed. Unfortunately, there are some hurdles that can prevent a small business from a bigger, more lucrative future. Here are three issues that small business owners may have to face when growing their company.
In the recruiting world we have heard it all before…
- “I don’t want to post a compensation range because everyone will expect the high end.”
- “I don’t want my current employees to know what others are paid.”
- “I don’t want my competitors to know our salaries.”
- “Other postings online do not include a compensation range, so why should I?”
Although these are common thoughts for all business owners, it can be directly affecting your candidate pool numbers. In fact, SMART Recruit Online found that job advertisements with a compensation listed increased the total number of candidates by 30 percent. Small and mid-sized companies are at a disadvantage by not posting a wage since larger companies have known salary and hourly rates.
It can be hard to manage HR functions internally. That’s why a Professional Employer Organization (PEO) provides comprehensive services for businesses in need of help.
However, some people aren’t as familiar with how PEOs operate and may be concerned about working with them. Fortunately, we’re here to help answer your questions. We’ve debunked three myths about PEOs that you shouldn’t worry about.
Paid time off (PTO) is a powerful tool to help employees stay refreshed and motivated. Unfortunately, the prospect of falling behind on projects or being hit by a deluge of missed emails can be more terrifying than a prolonged visit with your in-laws.
Employees shouldn’t be afraid to take PTO, whether it’s due to potential workplace stress or a fear to take time off. Here are three ways that your business can make vacations less stressful for employees.
Let’s face it; employees don’t always want to be indoors during the summer. Having unmotivated, daydreaming employees can lead to unproductive work days, but some summer perks can help motivate your workers. Here are three ways that you can help boost team morale during the summer.
Today, GMS celebrates a huge milestone with the signing of our 1,000th client.
When GMS was started, Bill Clinton was in office, a gallon of gas cost $1.22 and Michael Jordan had won his fourth NBA title. Twenty years later, in 2016, we have another Clinton running for office, gas prices have doubled and the Cavs are the reigning champs. A lot can change in 20 years, and a lot has changed at GMS.
In 1996, Mike Kahoe started GMS as a one-man show. Prior to that, he had worked for a temp agency for construction workers. Kahoe began to notice a trend in companies relying on a workforce made up of temps alone to avoid having to deal with workers’ comp, payroll and benefits. Not being familiar with the Professional Employer Organization industry, he floated the idea to start his own company to handle these functions of a small business.
Update: Federal judge blocks overtime rules a week before they take effect. Learn more in our new post.
As a small business owner, it is crucial that you stay current on the latest government regulations affecting your business and employees. Effective Dec. 1, 2016, the salary threshold for overtime eligibility will increase from $23,660 to $47,476. This means that anyone earning a salary under the new threshold will now be eligible for overtime pay for any time worked beyond 40 hours in a week.
The Department of Labor estimates there will be approximately 4.2 million workers affected who will now be eligible for overtime. Business owners must reevaluate their current workforce to meet the new requirements. The Department of Labor will automatically update the salary threshold every 3 years moving forward to match the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region.
Whether your company is growing or you are simply filling an open position, the hiring process can be painstaking for any business owner. Where do you start? Should you post a listing to online job sites? Should you place ads around the local university? Do you set up a booth at a job fair?
Hiring the right people is not an easy task. It can be a lengthy process that takes away from other priorities, like growing your business. It takes an average of 52 days to fill an open position, according to a recruitment study from Bersin by Deloitte.
Summer days make for more than just fun in the sun. Summer weather leads to a spike in outdoor jobs, hotter conditions, and workplace injuries. While these issues are a year-long concern, the Bureau of Labor Statistics reports that the rate of workplace injuries increases during the summer season.
More injuries mean more workers’ compensation claims, and more claims mean that your company will have to pay a higher workers’ compensation rate. However, business owners can take steps to help lower workers’ compensation rates by employing loss prevention strategies that can help reduce the risk of accidents in the workplace.
Accessing all of your benefits information used to be a pain. Even if you had all of your documents and details organized nicely in a folder, you still wouldn’t be able to access it if you were outside of your home or office. That’s why GMS made it possible to have total access to your health plan no matter where you are.
The GMS Mobile Benefits App for the self-insured plan option allows business owners and their employees to see all of their health plan information on their phone. GMS customers can simply download the app and set-up their account and see info on their eligibility, deductibles, claims, and applicable links to their network and other benefits information. Here’s how the GMS Mobile Benefits App saves you from future hassles.