The reality for most of us is, healthcare is a major expense for a lot of people during their working years. And often, it becomes an even more burdensome expense during retirement. That’s why it’s so important to set funds aside for future healthcare costs. And health savings accounts (HSAs) are a great bet ...
The Challenge: Owning and operating a small business is incredibly rewarding, but it’s not without its challenges… Small business owners wear many different hats. Often, they play the lead role in many areas that larger companies have entire departments to manage. With so much individual responsibility, it’s easy to get lost in daily ...
Our lives are ruled by technology in every way. Technological advancements have not-so-slowly intertwined themselves into our everyday lives, from smartphones as an extension of ourselves to cashier-less checkout technology in stores. The tech trend is seeping into the business world, and has recently become the #1 topic in the boardroom. So what does digitization ...
With the passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES) in March of 2020, the main focus for business financial relief centered on the Payroll Protection Program. The goal of the program was to get money quickly to small businesses financially impacted by COVID-19, especially during the Spring 2020 government-mandated business closures. ...
A key to understanding your workers’ compensation premium is the experience modification factor, also known as your mod. Understanding your company’s mod and the data used to obtain it helps you identify ways to minimize your workers’ compensation premium. Who calculates the mod factor? Most states use the National Council on Compensation Insurance (NCCI) to ...
Here at Payroll Medics, our trusted advisors are often asked tough HR questions and we wanted to share a recent HR Q&A with you. In general, yes, employers may require the use of vacation/paid time off (PTO) and restrict its use. We always recommend you check for state and local paid sick leave laws, restrictions ...
The Work Opportunity Tax Credit (WOTC) can help employers close the skills gap by encouraging them to hire applicants who often are overlooked, such as people with criminal histories, military veterans and the long-term unemployed. Here’s what employers should know about participating in the program. Target Groups The program was designed to encourage employers to hire workers ...
Periods of growth are particularly exciting for small and midsize businesses, but they also bring new HR challenges. Along with adding employees—which may change the feel of your culture as well as your floor plan—your organization may become subject to federal and state laws that take effect once you have a certain number of employees. ...
According to Gallup, 51% of employees are looking for a new job, and 68% of employees believe they are overqualified for the job they have. Even engaged employees are job hunting at an alarming rate—37%. Employees who change jobs cite career growth opportunities, pay and benefits, management, company culture, and job fit as reasons for ...
Handling absenteeism effectively requires a strong, well-thought-out approach. Taking time away from work is good for the health and morale of employees. When they can rest during an illness, recuperate after an injury, or tend to affairs in their personal lives, they’re better able to focus at work and engage in the tasks at hand. ...
