Cloud based HR solutions are the modern alternative to paper based systems, meant for the management of human resources. The reason for this is because such a solution is a long term and stable method which gives companies the ability to enhance their processes while structuring their workforce for business related initiatives. Institutions that choose to use cloud HR technology are gaining both cost and productivity advantages over institutions that continue to use traditional systems.
Cloud based technology provides an HR system with a core that is unified, which is ideal for companies that have or intend to have operations in multiple regions. Additionally, the cost of owning and operating these cloud based systems is low and they do not require constant software upgrades. Below are some ways that cloud based systems will streamline operations while also providing more time for strategic initiatives:
Employees are typically paid at a rate which is set by a time period basis. In the U.S. employers are required to pay for employee benefits such as Medicare, worker’s compensation, Social Security, and federal or state taxes. Employers are also responsible for deducting a part of these taxes and fees from the paychecks of each employee, and each transaction must be recorded for audits and taxation.
A recent ruling passed by the Jersey City council will require more businesses to recognize paid sick leave law for their employees. Businesses which employ ten workers or less are now required to give their employees as much as 24 hours of sick time with pay, and as much as sixteen hours of sick leave each year. Before this ruling, businesses in the area were only required to give their employees unpaid sick leave. The fines for violating this paid sick leave law will range from $1,250 to as much as $2,000 for every infraction.
Many employers are overwhelmed by the regulatory demands when it comes to the Affordable Care Act (ACA), as this adds to their already-heavy workload. Keeping up with new legislation and industry changes can be challenging, but not keeping up with them can have severe consequences such as legal penalties. If you are wondering how you can manage ACA compliance without tipping yourself over, here are some useful tips you can consider:
A number of cities and states throughout the U.S. have begun passing laws to increase the minimum wage. While these wage increases are seen as being beneficial for employees, numerous small to medium sized businesses are apprehensive about this reform and its impact on company revenue. The good news is that businesses can take measures to manage increasing payroll costs while also remaining competitive. Below are some tips for achieving this:
Some small businesses strive to offer the best health benefit plans to retain or recruit the best employees possible. However, there is a slight problem and it is that traditional health insurance plans provided by employers are too costly. As a result, only more than 50% of small and medium businesses offer some forms of health insurance today.
Today, the word ‘paperless’ will be the perfect word to describe how businesses are changing. Thanks to the continual acceptance and growth of cloud-based computing, an increasing number of businesses are reducing their dependence on paper usage and instead going with the reliable, organizational benefits of cloud-based business solutions. Along with cloud-based storage resources such as Dropbox and Google Drive, payroll processing is now one of the most common business practices to go paperless and it is not hard to understand why.
No one can deny that they love receiving their annual bonuses. However, not all of them really understand how these annual bonuses are associated with tax deductions, tax returns or even what is considered as a bonus by the Internal Revenue Service (IRS for short).
Almost everyone in the office knows what a toxic colleague looks like. These individuals can bring the whole team down by being negative, lazy, vindictive, gossipy and more. When such employees achieve managerial positions, they can easily increase the staff turnover rate because their subordinates do not respect them as leaders or find it hard to work under them. It is pertinent that you come up with a plan before approaching a toxic employee so they do not influence the rest of your staff in a negative way. Here are a few tips to deal with toxic employees:
Some employees may feel that open enrollment can be a stressful experience for them as they are subjected to a fixed deadline to make decisions that might affect their families for the following year. They may feel confused and pressured about making the right choices. However, allowing them to prepare in advance, communicating with them regularly as well as utilizing an online enrollment platform can help you make open enrollment much easier for your valued employees.