It is imperative for a business owner to know how to read a pay stub. The learning curve should help you understand what items to include in a pay stub, the meanings behind each item as well as the methods to catch potential payroll errors that may end up as costly mistakes. You will also need to know how to explain a pay stub as you may need to answer an employee’s inquiries about how they are being paid.
Many modern-day businesses have worked with an independent contractor at least once. If not, you are likely to work with a freelancer in the near future as they are expected to make up more than 35% of the workforce by 2020.
Healthcare benefit plans can offer many types of employers an efficient way to help employees cope with certain expenses that pertain to healthcare. They are also sometimes called health cash plans and should not be compared to private medical insurance plans.
Healthcare benefit plans are quite popular among smaller sized businesses and they offer employers an attainable and affordable way to offer employee healthcare benefits. If you want to understand how this type of benefit plans work, this simple guide will school you through the important basics.
In the recent past, the corporate world has experienced a consistent surge of payroll solutions online. Hence, this makes it very easy for many businesses to harness the power of web-based payroll software to perform payroll procedures well. However, as an employer, you may still make mistakes even with the best technology in place.
Regardless of your industry, company and employee size, there are some pertinent steps you must take to avoid potential payroll mistakes. This is essential to ensure that your payroll administration has a perfect record of being 100% percent accurate every time. Here are the three most overlooked payroll mistakes that have brought trouble to many small businesses in the past:
When the topic of whether employee remunerations should be transparent is discussed, it is often hard to come to a consensus. Today, an increasing number of employees are requesting for a more honest and open approach to sharing information about everything from company financials to hiring decisions to employee salaries. On the surface, it may feel like it is a good idea to make employee salaries public, but there are certain factors you should consider beforehand and decide whether revealing the salaries of employees is good for your business.
Every company requires some form of accounting software to manage their expenses and also to determine profitability. With the availability of accounting software, companies can benefit from automating their accounting systems as opposed to the traditional reliance of manual spreadsheets and paper systems. While many companies kept HR software and accounting software separate in the past, many companies are now starting to realize that there are benefits if they integrate the software programs together.
We are now slowly moving towards 2016 and for many businesses, it will soon be time to think about the tax season. You will want to make sure you are doing your taxes right as well as prepare the documents that can yield tax reductions for your business. However, some tax deductions are lesser known and it’s common knowledge that many businesses have not tapped into them to get rebates when tax season arrives. Let’s take a look at these small business tax reductions that are too easily neglected:
Employee surveys are highly regarded as an excellent tool for discovering what employees really want and helping employers to keep their workers engaged. When these surveys are utilized correctly, they can provide positive results such as decreased absence, improved performance, lower turnover rates and many other great benefits that pertain to engagement.
However, you should take great care to avoid misusing these surveys as they can cause negative impacts on the benefits that were mentioned earlier, and even cause employees to feel less engaged or undervalued. The following tips can be helpful to assist employers in the administration of employee surveys in the most effective manner.
Oftentimes, recognition and rewards in the corporate world are based on an activity’s tangible outcome. Closing a big account, reducing the time of answering support tickets or hitting sales quotas are some of the events that employees expect to be rewarded for. But if you give you this a second thought, you will realize that these achievements are actually part of the job. In fact, it is why you hire them in the first place.