When it comes to payroll, it’s becoming more common for businesses to go completely paperless. It’s an environmentally friendly and cost effective option that transforms the entire payroll process into a digital one, making it easier to access financial information quickly and efficiently. Many businesses choose to utilize direct deposit for employee’s compensation, but if your employees are hesitant to use a bank account for direct deposit setup, there is another payroll option that you can try: Paycards.
Posted in Payroll
A Human Resource Information System (HRIS) is a valuable platform that can benefit businesses of all sizes. HRIS systems enable employees, managers, owners and HR personnel to conduct vital HR activities electronically, saving time and resources to improve overall productivity. Some of the services that an HRIS platform can provide are:
Employers, while usually very well-intentioned, tend to make two HR mistakes – both of which are related to money and can result in the loss of it if the law is not followed. What constitutes fair and proper payment of wages is dictated by state and federal law, so it’s important for business owners to avoid mistakes related to pay that can result in legal action. Read on for some helpful information about the 2 most common HR mistakes, so you can avoid them in your business.
Posted in Human Resources
Raises for the right reasons can be very effective. Occasional pay raises are a crucial part of running a successful business and retaining good employees. When your employees work hard and continue to perform well over an extended period of time, it’s important that you recognize their contributions by raising their pay. It’s also a good idea to consider adjusting the overall rate of compensation for your employees if economic or company factors change, such as an increase in the general cost of living. This will keep you competitive with the open job market. Keep in mind that rewarding employees…
Posted in Payroll
Wage garnishments can be a delicate subject that many business owners would rather not get involved in. It can be unpleasant and awkward to have to deal with an employee’s personal debts. Unfortunately, you, as an employer, are responsible for responding to and handling a writ of garnishment. Not only is it uncomfortable, garnishments involve a lot of administrative work that can be time-consuming and tedious.
Understanding the unemployment claims system can go a long way in keeping taxes low for you, the employer. The system differs by state – and it applies to businesses that employ as few as one worker. Dealing with unemployment claims is a time consuming process and the degree to which it is done well can affect how much you pay in unemployment taxes. So how does it all work – and what do you need to know as an employer?
Many small businesses rely on employees to accurately report the time they start and stop working each day. While this simple approach may work well for some very small businesses with consistent employee schedules; most employers can derive good benefit from having a more accurate and reliable record of employee hours worked. Business owners can tend to shy away from time clock systems to avoid added costs, but the investment may actually save you money in the long run.
If you have employees, you have employment taxes. And with the IRS cracking down on smaller-sized businesses that are failing to properly report and/or file payroll taxes, it’s not advisable to take a light-hearted approach to managing payroll taxes. It’s imperative to properly calculate, withdraw, report and deposit tax monies from employees’ paychecks. Every employer must account for federal income tax, social security, Medicare, and federal and state unemployment tax.
President Obama wants his administration to change the rules regarding who is eligible for overtime pay under Fair Labor Standards Act (FLSA). He recently directed the Department of Labor to do its first update of FLSA regulations in 10 years.
If you own more than one business or have a business relationship with another company in which you “share” the same employees, it can be a convenient arrangement. The employees can get extra work (and extra pay) without the hassle of trying to juggle the schedules of having two separate jobs. It can also be handy for the employers for the same reasons. However, it is important for employers to be aware of the provisions in the law in situations like this.