There are a number of recruitment trends which have come to define 2016. It is a necessity for HR departments to evaluate and adapt to these trends in a manner that provides them the greatest hiring leverage. Doing so ensures that your company attracts the best and brightest talent your industry has to offer.
Most business owners concern themselves with customer satisfaction, and while this is important, the satisfaction of employees is equally so. These are the people that often work directly with customers, and when they become unhappy, this will lead to unhappiness among customers, which will ultimately lead to a decline in sales. Unfortunately, too many business owners are indifferent to how their employees feel, which can be detrimental to the long term success of their company. Below are some warning signs to watch for.
Determining the compensation package for new hires is important, as it will often determine whether or not they choose to remain with your company. A great deal of effort goes into finding and interviewing qualified candidates, but if the compensation package isn’t up to par it could become largely a waste of effort and time. Conversations involving money are always delicate matters, below are some tips to help you do it the right way.
Bonuses are often excellent motivational tools for workers, irrespective of the size of the business. However, they can also become a waste of resources if they are administered incorrectly. The manner in which bonuses are given and structured is extremely important, as they can provide employee incentives for superior performance. However, businesses should not restrict themselves to bonuses, and should always be on the lookout for incentives that can be used as an alternative.
At some points, many small businesses will need to reimburse their employees tax free for healthcare expenses. The good news is that there are four ways in which this can be done. These reimbursement option plans will help your business meet its objectives, but it is important to understand how each plan works and the differences between them. These four plans are healthcare reimbursement plans, health savings accounts, flexible spending accounts and health reimbursement arrangements.
Millennials have come of age, and many are now entering their 30s. They are distinct from previous generations in a number of ways, especially in the manner in which they communicate. While popular forms of communication in the past involved meeting face to face or talking over the phone, this generation prefers using social media, online chat, and email and intranet software. To maximize the performance of these workers while reducing turnover rates, it is important to recognize their styles and preferred communication methods.
Workplace culture is important, and will determine how well a firm can compete within the marketplace. Businesses are in competition not only to capture greater market share, but to retain the best and brightest workers. It is therefore crucial for HR heads to think carefully about ways in which the company culture can be enhanced. This will allow the HR department to serve as more than just a center for payroll, but to be seen as a major strategic center. Below are some common problems which can be resolved through a superior workplace culture.
Form 941-X, which is also known as the “Adjusted Employer’s Quarterly Federal Tax Return,” is a form which is used for the purpose of correcting any errors which were made on previous 941 reports. This form must be filed whenever an error is found on any 941 form that has been filed in the past, but it is not necessary to file it if the error is associated with part 2 of Form 941 or the number of workers who were paid.
Retro pay, also known as retroactive pay, is a type of payroll payment which is associated with a past pay period. It is not the same as back pay, which is given when an employer owes an employee for a pay period where they didn’t receive any payment.
The American Department of Labor has recently released its final ruling regarding overtime eligibility for workers. These rulings were made under the FLSA, or Fair Labor Standards Act. It increases eligibility for overtime pay and will become enforceable by December of 2016. In the short term, this ruling will increase costs for businesses, but over the long term, employers c0uld save money due to greater employee retention percentage.