Currently, only a handful of institutions within the United States offer paid sick days. Most do not, and the U.S. is one of the few developed nations that doesn’t make paid sick leave mandatory for each employee. Many companies are reluctant to offer this benefit due to fears that employees will misuse it, or it will drive up their operating costs. What you should know is that there are a number of advantages to be gained by offering these benefits. Below are some of them.
As of July 1, 2016, there are a number of cities and states across the U.S. which has implemented minimum wage rate increases. Businesses and employers that are based in these areas are recommended to make the necessary adjustments accordingly.
A growing number of businesses, both large and small, are implementing an HRIS, or human resources information system. Some of the benefits that are associated with such a system include reduced errors, automation and cost reduction. An HRIS manages various aspects of human resources, including accounting and payroll, and it also allows HR costs to be controlled while providing increased efficiency.
The majority of these systems feature a flexible design with databases that are integrated, and they have robust reporting and analysis abilities that make it much easier to manage employees. Equally important, it also strengthens communications while reducing the need for paperwork by offering a centralized location which is readily accessible where company announcements, policies and other important data can be stored. However, knowing when and how to implement such a system is extremely important.
Locating and recruiting the top workers for your staff team can be a challenging task. The job market has become increasingly competitive, and the gap in skills has become quite large. This environment requires employers to think strategically and in unorthodox ways to recruit the top talent, which will help them dominate their respective industries.
In many industries, it is common for employers to send employees on trips to perform work related tasks. At the same time, many employers are unaware of the nuances involved with work-related travel expenses, and when employees should be compensated accordingly. Below are some guidelines that employers should take into consideration when sending their employees on trips which incurs work-related travel expenses.
As we move into fall, it is important to begin thinking about your 2017 ACA reporting dates. While the IRS provided a number of breaks for 2016 such as deadline extensions as well as leniency for businesses that didn’t get everything correct, it will tighten the leash next year considerably.
Research indicates thattime theft is a serious issue which costs American businesses approximately $400 billion annually. There are many ways in which employees steal time and recognizing and responding to this problem requires taking proactive steps while enacting preventive measures and punishing those who do it.
While it is perfectly acceptable to pay employees in cash, it has become less common due to the ease of electronic transactions. Furthermore, there are various challenges associated with the practice, particularly from the standpoint of payroll taxes.
Workplace bullying is best described as the chronic mistreatment of workers either by their co-workers or management. This behavior is common and can significantly weaken the morale and productivity of employees as well as thecompany culture itself. Identifying workplace bullying and taking the steps to resolve it is extremely important.
There are a number of important things that you’ll need to remember for your 2016 payroll accounting. Keeping these numbers in mind will make it easier to ensure that your payroll is done accurately.