Are you looking for a way to reduce administration costs for your small business? Have you considered how much time (and money) you would save if you didn’t have to prepare and process your payroll and payroll taxes?
When you outsource payroll services, there are a number of benefits. The most essential for small businesses is that you can take the time you used to spend on payroll and devote it to building your business.
According to a Wells Fargo study, 37% of people expect to work until they die. That’s an alarming number, but one that you can use to your advantage.
Most people would rather spend their later years comfortably enjoying their retirement, so by offering a quality 401k plan, you give your business a step up in attracting and retaining quality employees.
Avoid Financial Confusion: Educate Your Group
Before we give you the key elements to a great 401k plan, it’s worth taking a moment to remind you that financial choices can be intimidating and confusing for many employees. One way you can help is by making an effort to ensure employees are educated about their choices. These resources will help make sure everyone is on the same page.
Did you know that January 17th has been named National Ditch Your Resolution Day? It has been reported this is the average day that most people give up on their healthy resolutions. This is an important day for us in the” Wellness World”, but it is also the average day most people give up on all of their work and personal goals too. This is the time that most people who have been working so hard since the New Year become tired and simply give up.
So how does someone go from throwing out all of the “bad” food, habits, attitudes, spending a small fortune on “good” food, gym memberships, and changing work habits to giving up merely 17 days later? Before they jump right in to making and attacking resolutions, they need to have a plan in place.
As a small business owner, you probably rely on the services of other organizations to accomplish a range of tasks, services and other duties. Your health insurance broker or policy provider is one you expect has your best interest in mind. The reality is, they may not, especially when it comes to premium and individual claim costs.
With all your other responsibilities, you don’t have time to keep tabs on everything your health insurer does, however, there are some key questions you need to ask in order to effectively evaluate just how much they are working for you:
Conducting an employee review is one of the most disliked tasks among managers and business owners. However, these evaluation opportunities are critical in retaining good employees, motivating employees to remain productive and maintaining a good relationship with your staff.
Before you sit down to complete your laundry list of assessment points, consider the following tips to help your employee reviews be more effective than ever:
While it is tempting to run down the list of “grades” the employee has earned throughout the year, engaging in an open discussion is the best form of evaluation. Instead of leading with the company form, ask your employee about their performance throughout the year, the problems and challenges they have encountered and how they overcame those obstacles. Carefully listen to your employee to help solve their work-related problems and create goals for the coming year.
"Keeping the plates spinning," is an idiom many small businesses use to describe the way they manage their human resource responsibilities. Some outsource HR functions to various companies while some tasks are handled by an in-house team member who has many other job duties
There's no need to juggle between outsourcing tasks to multiple companies and attempting to have them work together on your behalf. Professional employee organizations, or PEOs, can help minimize the stress, time and costly resources you spend administering your HR functions by managing:
For small-or medium-sized businesses, worker's compensation can be extremely costly. You invest a lot of the time, money and resources into claims management to ensure your business stays compliant and your workers are protected. With your limited resources, there are steps you can take to minimize your risks and reduce your worker’s compensation costs.
The end of the year is an extremely busy time for most business owners and your attention is pulled from managing one task to the next. One of the most important responsibilities business owners face – and one of the most stressful to manage – is payroll tax management.
Let’s take a minute to review two major tax obligations that are of critical importance as the calendar year comes to a close.
When it comes to the observance of holidays in the workplace, it can be tough to balance productivity, compliance and fun. Just like the ghost of holiday past returned to haunt Ebenezer Scrooge, there are some workplace festivities that – in the form of HR headaches – could come back to haunt you. Here are some helpful tips that protect you from liabilities, while still allowing you and your employees to enjoy the holiday season:
Next to salary, employee benefits are a key asset to attract and retain talented workers. While most companies offer standard health, 401(k) and other supplemental benefits, there are some non-traditional benefits that can set you apart from the competition and help you sign the best and brightest to your staff.