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After working hard on completing your company’s end-of-year procedures, your human resources department may be ready to take a break. However, there is still much work to do to prepare for the upcoming year, especially when considering how the workforce is changing due to the pandemic. So, as the year comes to a close, give these ideas a look to make sure that your HR has the right plans in place to start the new year off strong.
We all know that retirement planning is important, and we also know that the best way to prepare for our golden years is to start saving early. Traditional pension plans are generally limited to the public sector and a few large unions, so most workers save for their retirements by placing funds in IRAs or 401(k) plans offered by their employers. This arrangement is fine for disciplined savers, but many Americans allow short-term problems to distract them from their long-term goals.
It’s the time of year for lists: shopping lists, gift wish lists, to-do lists, packing lists for travel, maybe even lists of lists … and at Horizon Payroll Solutions, we love a good payroll and HR task list too.
If you’re like many employers, you’re preparing to close out 2021 and set up for 2022. But sometimes there’s a nagging feeling you’re forgetting something.
Early in 2021, Emsi Burning Glass published a paper called the Demographic Drought. This article outlines the key demographic and economic drivers behind the current labor crisis. It is important to know those drivers as diagnosis drives treatment options.
Don't have time to read this article? Watch it instead!
Millions of Americans began working from home in early 2020 after states around the country issued stay-at-home orders to contain the COVID-19 pandemic, and some of the nation’s largest employers have said that they plan to make remote working arrangements permanent for many of them. Avoiding commutes and staying home sounded pretty good to most workers when these plans were first announced, but the reality of working from home has not lived up to their expectations.
With all of the ongoing changes businesses are faced with, one of the most pressing is how to manage the issue of COVID, vaccinations and testing. This article will provide answers to the many questions being asked by employers today:
Most Americans are finding it difficult to make ends meet. A study conducted in 2017 by the financial services company Bankrate revealed that only about six in ten Americans have enough money in the bank to cover an unexpected $500 expense, which may be why almost three in four employees say that they would like access to their earnings before their scheduled paydays.
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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.
Don't have time to read this article? Watch it instead!
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 |
Reviewing applicants | 23.5 | $587.50+ |
Prescreening candidates | 4 | $100+ |
Prepping for interviews |
1.5 | $31.50 |
Final stage activities (final interviews, testing, calling other applicants, reference checks, and hiring) |
7.5 | $187.50 |
Total |
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.
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