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.
Attendance is and should be a major priority for every manager. A business which is routinely shorthanded due to attendance issues will inevitably suffer a loss of profits, not to mention prestige, cohesion and reputation. It is therefore critically important to develop a work attendance policy that is respected, enforced and followed.
Health Savings Accounts are financial based and combined with an HDHP, or high deductible health plan. HSAs provide tax advantages and can be used to pay for a number of medical expenses. A growing number of employers are providing their employees with HSAs, and it is important to familiarize yourself with the HSA contribution limits for 2017. These contribution limits may be adjusted annually by the IRS.
Small business owners that make contributions for the healthcare of their employees must ensure they’re not making any mistakes which could become costly. The best way to extend small business healthcare benefits is by understanding small business healthcare benefit compliance. Below are some common mistakes that small business owners will want to avoid:
Flexible work hours can benefit employees in many ways, from reduced stress to a greater work-life balance. They will have more time to spend with their families which translates into greater productivity, a more positive outlook and less missed days. Below are some additional benefits they’ll gain: