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Coronavirus Relief: Who is Eligible for Small Business Loans from the CARES Act?

by Tim AustinApril 3, 2020 12:00 PM

As the Coronavirus impacts businesses everywhere, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide some financial support during difficult times. The $2 trillion Coronavirus stimulus package contains a $349 billion lending program for small businesses, along with other means of relief.

For small business owners, this news provides a form of respite in a difficult time. Of course, now these employers may ask how these loans work and whether they can access them. Read on to find out if your business can apply for a loan and how they impact your operations.

Money from a CARES Act small business loan granted to a business impacted by the Coronavirus. 

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Payroll

Workplace Safety Stories: Quick, Decisive Action After a Tragic Fall

by Paul AldrichMarch 23, 2020 8:00 AM

A workplace accident can be a life-changing event, both for the person injured and an employer. A serious injury can change someone’s life, which in turn can place your business under the spotlight for both the injured employee’s family and OSHA.

While you can’t heal someone’s injury after the fact, there are ways that you can definitively respond to workplace injuries to help avoid future accidents and avoid OSHA intervention. Here’s an example of how GMS helped one company avoid OSHA scrutiny and put practices in place to prevent additional workplace injuries.

Hard hats in place to improve workplace safety for employees. 

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Risk Management

GMS Maintains Service Levels Throughout COVID-19 Pandemic

by Stacey LarotondaMarch 19, 2020 12:03 PM

Addressing common questions and concerns from clients and employees impacted by the coronavirus.

Group Management Services Inc., a Certified Professional Employer Organization based in Richfield, Ohio, assures clients access to the same level of support and resources throughout the Coronavirus pandemic.  

"Our number one priority is getting employees paid and maintaining benefits for those employees," GMS President Mike Kahoe said. "As such, we are offering our customers grace period on all benefits, state unemployment, and workers' comp billings."

GMS wants to address all concerns, starting with the list of common questions we anticipate from our clients and employees.

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Human Resources

How to Handle the Health Insurance Renewal Process as an Employer

by Tim AustinMarch 16, 2020 9:00 AM

Health Insurance renewals may be one of the most important decisions an employer makes each year. For most small businesses, group health insurance is one of the largest expenses they incur, meaning the process can be quite stressful. To help, we put together some guidance on the renewal period and what you can do to streamline the process for your business.

Small business owners reviewing the different elements of the health insurance renewal process. 

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Benefits

DOL Issues Final Rule on Overtime Pay: How to Determine Eligible Employees and Calculate the Regular Rate

by Tim AustinMarch 9, 2020 8:00 AM

After years of proposed changes to overtime laws, the Department of Labor (DOL)’s new updates finally went into effect at the beginning of 2020. The new salary levels make roughly 1.3 million more workers eligible for overtime pay. This news means business owners across the country may have some work to do to keep up with these changes.

While the new standard salary level is a notable difference, it’s not the only change the DOL made. The department also revised rules for highly-compensated employees, regulations on overtime pay calculations, and other crucial details. To help, we broke down exactly what the DOL changed to help you know where your business stands and what you should do next.

A clock tracking time for employees now eligible for overtime and papers documenting business numbers like regular rate calculations.

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Payroll

Performance Improvement Plans: What They Are and What They Should Include

by Tim AustinMarch 5, 2020 8:00 AM

An underperforming employee in your organization is an unfortunate reality that every business owner may have to face at one point or another. When an employee is failing to meet expectations, not only do those directly associated with that employee suffer, but the entire company will eventually feel the ripple effect of these behaviors. These repercussions are typically felt more greatly and much more quickly within a smaller business, where every employee tends to play a larger role in the success and failure of your operation.

Eventually, though, you’ll reach a point where it’s clear that the situation has to change. While terminating the employee may seem like the logical course of action when you reach this point, performance improvement plans may offer a better approach to employee performance management.

 Silhouette of a businessman pushing a boulder up a hill.

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Human Resources

Who Needs to Carry Workers’ Compensation Insurance in Tennessee?

by Sharee AndradeMarch 2, 2020 8:00 AM

Like any other state, Tennessee has it’s own particular rules when it comes to workers’ compensation. The Volunteer State has specific compliance standards for acquiring coverage. Here’s what small business owners in Tennessee need to know about workers’ compensation.

A woman filling out a work injury form for a Tennessee employer with workers’ compensation insurance.

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Risk Management

SIMPLE IRA vs. 401(k): How Employers Can Choose the Right Retirement Plan

by Tim AustinFebruary 24, 2020 8:00 AM

Retirement plans can be a great benefit for small business owners looking to attract and retain employees. But between IRAs and 401(k)s, it can be challenging to decide which is the best plan suited for your organizational needs. For greater ease, some employers might prefer the SIMPLE IRA. For flexibility, though, the variety of choices available in a 401(k) can make this retirement plan a more attractive option. 

Choosing a retirement plan is often one of the most important financial decisions a business owner can make. To help with your decision, we explained the differences between a SIMPLE IRA and a 401(k) as well as the pros and cons of each retirement savings plan.

 Retirement savings plan.

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Benefits

4 Policies That Support a Family-Friendly Workplace Culture

by Tim AustinFebruary 20, 2020 8:00 AM

Over time, it’s becoming more apparent that people’s personal and professional lives will occasionally overlap. The Bureau of Labor Statistics found that 63 percent of families with children under the age of 18 had both parents employed. Add in millions of single parents trying to balance home and work responsibilities and you have a lot of employees who seriously value a family-friendly workplace. 

Managing work and family obligations can take a serious toll on people, which can have a direct impact on your business. Not only can this balance impact the quality of their work, but it can also lead frustrated mothers and fathers to look for more family-friendly workplaces. Fortunately, family-friendly policies are beneficial to employers as well as employees. According to the University of Kansas, a family-friendly workplace can help you:

  • Make employees more productive
  • Create a less stressful work environment
  • Attract more top talent
  • Retain quality employees

So what can you do to make your business more family-friendly? Here are four policies that can help your business appeal to existing and potential family-oriented employees.

An employee working at home with her daughter thanks to a family-friendly workplace policy.

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Benefits

How to Handle Payroll For Out-of-State Employees

by Tim AustinFebruary 17, 2020 8:00 AM

It’s already difficult to manage payroll for a small business, but it can get even trickier if you have employees who work out of state. Whether you have remote employees, live near a border, or have any other reason for an employee to complete their work in a different state, there are certain rules set by the Department of Labor (DOL) and other federal and state agencies that you need to follow when handling payroll for those workers.

A map of the U.S. for out-of-state employees with certain payroll requirements.

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