Trends in the workplace, like so many areas of life, are in a constant state of flux. Just a few of the changes which have been witnessed in the workplace during 2016 include overtime and salary, the elimination of yearly performance reviews, and the increasing desire for a workforce which is on-demand. Here are some 2017 workplace trends to watch for.
It takes extraordinary effort, time and patience to build a profitable business. Those who choose to run their own operation as opposed to working for someone else are few in number, and even fewer are actually successful. The path of the entrepreneur is one of the hardest, most arduous lifestyles an individual can lead, but the rewards for those that win are beyond words.
One important aspect of payroll processing is performing deductions from the paychecks of employees, both voluntary and mandatory. An example of a voluntary deduction is healthcare benefits. When an employee accepts this benefit they will pay for the premiums in the form of payroll withholding. The employer is considered the payroll representative and as such must calculate the healthcare deductions based on their corporate policy, as well as applicable state or federal regulations.
One of the most important aspects of operating a business is compensating employees. Not only does Payroll involve how much you’ll pay your workers, but also how and when. While many employers continue to pay their workers through old fashioned paper checks, there are a number of advantages you’ll gain by switching to direct deposits. These benefits can be broken down into three main advantages, which are security, convenience, and cost.
A number of social security changes are expected for 2017. Specifically, the wage base which is subjected to taxation is expected to grow from $118,500 to $127,200. Upon reaching this threshold, employees will no longer be subject to social security tax withholding. It has also been recently announced that over sixty five million people will receive COLA, or a cost of living adjustment of 0.3 percent for 2017.
Obamacare is projected to become more expensive in 2017. One change to be expected in the coming year is individual deductibles, which will increase by over $6,000. Families who have been placed in bronze plans will have deductibles which average $12,393. However, these are just a few of the price increases which are expected.
The start of 2017 should be be marked by goals, both personal and professional. It comes as no surprise that companies of all sizes are looking for ways to motivate their employees, as doing so leads to greater productivity as well as profit. Below are some tips that will provide your team with the staff motivation that is necessary to help your business succeed in this new year.
Trust is a fundamental and necessary aspect of doing business. However, it becomes even more important when working with remote employees. Quantum leaps in technology have led to a world where it is no longer necessary for a group of individuals to work side by side within the same building. In fact, it is now possible to hire employees on the other side of the world that you’ll never meet face to face. While this presents many opportunities, it also places a greater emphasis on trust and accountability.
Workplace wellness programs can be challenging to manage, especially when you factor in changing regulations. Both the Genetic Information Nondiscrimination Act and the Americans with Disabilities Act includes wellness programs which are provided by employers. The two regulatory systems provide a framework by which wellness programs in the workplace can remain in compliance at all times.