You don’t need to be in school to learn a few tricks. Employees play a huge part in the success of your business. Retaining and developing a good group of employees can set your business up for bigger things in the future, especially when you consider that replacing an employee can cost up to 50 percent of that employee’s salary.
Employee training and performance management are key HR functions that can help you shape your employees into an even more successful group. Here are some back-to-school tips to help you make sure that your business is on the right path when it comes to training and performance management.
It won’t be long before millennials dominate the workforce. The Society for Human Resource Management (SHRM) reports that about a third of the current workforce is comprised of millennials. That same report indicates that millennials “are projected to make up 75 percent of all U.S. employees” by 2025. That means that you’ll probably want to take measures to attract top millennial talent when that generation dominates the pool of available job candidates.
Of course, each generation has different priorities when it comes to finding an employer. For example, cash doesn’t rule everything around millennials. Instead, they tend to value a good company culture and special benefits more than a high dollar number. In fact, Forbes reports that “millennials would be willing to give up $7,600 in salary every year to work at a job that provided a better environment for them.”
Millennials have different expectations than past generations. Here’s what you can do to make your business more appealing when recruiting millennials.
Following a 19.1 percent-32 percent hike in 2018, 2019 Obamacare rates are expected to rise by double digit percentage points, again. Though speculation by market experts have resulted in a slew of responses as to why premiums have continued to rise, 2019’s increase is one of the most cut and dry responses by insurers to current reform changes. Within this article, we’ll explore the proverbial straw that broke the camel’s back, which happens to be one of the pillars the ACA was built on: the individual mandate.
Payroll taxes are complicated, especially when you don’t have any payroll training. Small business owners have several tax responsibilities that they must manage throughout the year, which can take up hours of your time each month. Of course, if you incorrectly calculate the tax withholdings for someone’s paycheck, both the employee and the federal or state government may have a bone to pick with you.
One of the most time-consuming and difficult parts of payroll tax management is that there is more than one type of tax that you need to handle. You are responsible for withholding multiple types of taxes from your employees’ wages, including income tax and payroll tax. These taxes each have specific rules in terms of how you and your employees contribute to them and what groups regulate them. Here’s a rundown of the difference between income tax and payroll tax.
Payroll isn’t nearly as simple as just paying your employees. Payroll management encompasses several different steps and responsibilities. Each part of the payroll process requires you to take certain actions or make decisions that impact how your employees are paid and ensure that your business is compliant with any government regulations that apply.
As a small business owner, it’s your responsibility to either take care of each of these steps—or find someone that you trust to manage payroll for you. Here’s a guide to help you learn what it takes to properly manage payroll for a small business.
As time goes by, more employees are working from home. CNN reported in 2017 that “the number of telecommuting workers has increased 115 percent in a decade,” and that nearly 4 million employees spend at least half of their time working remotely.
Telecommuting is attractive to employees for many reasons, such as flexible work hours and more time to spend with family, but employers need to consider how the trend will impact their HR initiatives. Here are some ways that remote employees can change how you manage HR.
My experience as an intern at GMS has been nothing short of amazing. In the three months that I’ve been here, I have had times of information overload—in a good way—and times of building relationships. When I talk to my friends about their internship experiences and they begin to explain the tasks they have to complete, I often hear “I just sit at a computer all day and do boring stuff” or “I actually grab coffee for people and organize things for my boss.” When they return the question back to me, it feels a little bit awkward because I could go on forever about what I do here at GMS. So, what has my summer looked like so far at GMS?
Welcome to GMS! I am so excited for you to start your career with such an amazing company. I was a summer intern in 2018 and learned so much from the people at this company. I figured I’d give you a heads up as to what’s to come.
You’ll feel overwhelmed for sure in your first week. Any time you start something new, you’ll feel that way. Don’t worry though, your new co-workers will help you through it all.
“How has your internship been going?” I’ve been asked this question more times than I can remember this summer. Family and friends have been seeing my social media posts all summer and are curious as to what I’ve been learning.
When I was asked this question for the first time, I took a long pause—not because I didn’t know what to say, but because I didn’t know how to put it into words. How do you put into words that you’ve learned more about yourself in 10 weeks than you have your entire life? How do you tell your family that you now have a second family in the office? How do you say that you’re sad to leave your internship when your senior year of college is approaching?
If someone at the beginning of the summer told me that I would feel like this about an internship, I never would have believed them. As I’m getting ready to go back to college, I’ve realized that GMS and the people there have had such an impact on me and have taught me more than I ever expected. These are the top three things they’ve taught me.
A small act of recognition can make a big difference for an employee’s morale. When Forbes reports that nearly two-thirds of employees would "likely leave their job if they didn't feel appreciated," these gestures can help you retain happy, talented employees.
While recognition is a good goal, you also need to make sure that these efforts make sense for your bottom line. Fortunately, there are plenty of good rewards that won’t break the bank. Here are five low-budget ideas that small business owners can use to show employees their appreciation.