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A common question that many business owners ask themselves is, "How frequently should I pay my employees?" There are a few factors to consider when determining how often you pay your workers, but it mostly comes down to preference. In this post, we will go over how to find the best pay frequency for your business.
We know now is a tough time to attract and retain a talented team. In early June 2021, the U.S. Chamber of Commerce reported 8.1 million job openings and about half as many available workers. Wow! So if you're struggling to hire and retain talent, you're not alone.
Here are 5 tips to attract and retain talented staff, even during a nationwide worker shortage.
Talent acquisition is a time-consuming and costly process. According to Recruitorbox.com, below are the average amounts of time and money HR teams spend during the hiring process.
|HR Task||Time (hours)||Average Cost|
|Job board posting||1.5||$37.50 to $457.50|
Prepping for interviews
Final stage activities (final interviews, testing, calling other applicants, reference checks, and hiring)
|38 hours||$944.00 to $1,364.00|
Manual HR tasks can take even longer and therefore become even more expensive, which is why we recommend you utilize an electronic HR solution. Let’s go through some examples and four major benefits of a paperless HR solution.
You can earn a tax credit of up to $33,000 per employee in wages paid under the Employee Retention Credit (ERC) if your business was financially impacted by COVID-19. Read on to learn who is eligible for the Employee Retention Tax Credit (ERC), how to calculate ERC based on qualifying wages, how to claim it, and more.
Disclaimer: This article is provided for informational purposes only and is not intended as legal advice. Please consult a legal professional or attorney with specific questions.
As with many HR matters, the question of requiring one’s employees to get a COVID-19 vaccine is complicated. According to the Equal Employment Opportunity Commission (EEOC), you generally can require the vaccine as a precondition for coming to work in person. But, just because you can do it doesn't mean it’s always the best or the only way.
Odds are good that your work life changed significantly in the last year, or that it continues to evolve as the pandemic persists. As the Associated Press notes, “it’s far from certain which of the myriad changes will prove permanent and which may fade as people who’ve been holed up at home for months return to their pre-pandemic routines.”
This year started out like most, but now as it draws to a close so much is different. Even if January 1 can’t get here fast enough for you, those annual year-end payroll and HR tasks still need to be addressed. Use our updated checklist to wrap up 2020 efficiently so you can get ready for what’s next.
November 3rd is Election Day. Are you properly prepared?
In August 2020, The Small Business Administration (SBA) closed the Paycheck Protection Program (PPP) application window and issued the guidance, "Frequently Asked Questions (FAQs) on PPP Loan Forgiveness". The first step towards PPP remittal is knowing what costs are (and aren't) eligible:
Early in August, President Trump released his memo “Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” Learn what you need to know as an employer with our 10 key takeaways below.
The United States Bureau of Labor Statistics (U.S. BLS) reported a decline in unemployment rate by 2.2% via their “The Employment Situation - June 2020" press release. However, because COVID-19 and the coronavirus continue to be an area of concern, it’s important to be prepared for possible layoffs. 94% of states in the BLS recorded historically high unemployment rates in 2020. View up to date unemployment numbers per state here.
Delivering news of a layoff is a difficult task for anyone to complete. Doing so with compassion is the key to a seamless transition. We’ve prepared a helpful checklist and 11 tips below to help you through the process.
Some companies are in the midst of rehiring employees laid off due to the pandemic, and for others that’s still in the future. Either way, as you make plans to protect your employees’ health, be sure you know how to protect your business too. In this post we’ll talk about two important ways you must follow the law and best practices as you continue or begin the rehiring process.
Guest post by Alan Greenwell and Rachel Graves
The Paycheck Protection Program (PPP) was established in April as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In an effort to help employers continue to pay their employees during the COVID 19 pandemic, the PPP was designed to provide assistance to qualified small businesses (and some other business entities) with payroll and certain other expenses.
You’ve probably weathered many changes to your company and staffing recently. And that includes staying compliant with new legislation that requires expanded paid leave. There’s a lot of detail to keep track of, but the good news is many employers are eligible for some relief in the form of tax credits. Here’s what you need to know.
If you’ve recently made the decision to furlough or lay off employees, or are in the process, you’re not alone. Nearly 50% of companies say they are at least somewhat likely to conduct layoffs over the next three months due to the COVID-19 pandemic according to CNBC. What’s more, the Economic Policy Institute estimates almost 20 million jobs will be lost by this summer (see a breakdown of the estimate by state here).
Far-reaching, fast-changing new stories in the digital age mean a deluge of coverage from many perspectives, coupled with millions of people adding their voice to the story. Right now, many of us are closely following the current global health crisis and its impact on business, employment, and the economy, but in the past other major news has caught the nation’s attention too. And make no mistake, there will be more big stories in the future. There’s so much information to absorb that it can be hard to filter what’s based in fact, what’s speculation or rumor, or what’s flat out wrong.
As we continue to take stock of our current situation and plan for the uncertainty of what tomorrow will bring, we suggest doing a reality check of your business. Take control by applying these tips, Ten Tips to Do in Tough Times. Courtesy of Small Business Administration (SBA) and SCORE.
In these trying times, one of the industries that has been most affected is the sit-down restaurant industry. We often say that what sets us apart at Horizon Payroll Solutions, is that we’re more of a partner than just a vendor. To that end, we thought we’d send out a list of our partners that are going to stay open for carryout/curbside or delivery or both. Some of the restaurants that are doing delivery are using Doordash, Uber Eats, or Grubhub, and others are using some of their staff to do deliveries. We hope that if you are looking for a meal either for your home or business, that you’ll consider one of our local partners and your local neighbors to patronize. Stay safe everyone. Let’s get through this together!!!
As our digital footprint expands, concerns of identity theft become more commonplace both at home and at work. In response to this, data protection is now a top priority for families and businesses. The Insurance Information Institute reported 14.4 million victims of identity theft in 2018. Though this was a decrease from the year before—of 16.7 million in 2017—identity theft is still a major issue in the majority of consumer’s lives.
It’s tax time, you probably have a payroll cycle ending soon, and don’t forget those redesigned W-4s you’re getting questions about. While you’re at it, have you noted any state or local minimum wage changes for this year? If you’re lucky, you have it all under control, but if not, don’t worry. You’re not alone.