According to FlexJobs, millions of Americans shifted to remote work in 2020. Other studies conducted in 2020 conclude that the growth rate for full-time remote work is expected to double over the next five years. As shown in a 2020 survey by Gartner, over 80% of business leaders planned to allow employees to work remotely at least some of the time after the COVID-19 pandemic. But like on-site … [Read more...]

An applicant tracking system (ATS) speeds up recruiting and hiring by serving as a central database for recruiters and job applicants. According to an article published by Jobvite, an ATS enables "businesses to collect information, organize prospects based on experience and skill set, and filter applicants." Studies show that 73% of HR professionals use an ATS. In Fortune 500 companies, that … [Read more...]

Employer-based health insurance costs have increased modestly since 2012 — between 3% and 5% annually for family coverage, according to a 2020 report by Kaiser Family Foundation. These changes have added up over the past decade, and employers and employees are now paying 155% of the health care costs they were paying before, even as wages have stagnated. Health care costs can be steep for small … [Read more...]

The Federal Insurance Contributions Act (FICA) mandates that employers have to withhold, and also match, certain taxes. FICA consists of Social Security (formally known as the Old-Age, Survivors and Disability Insurance, or OASDI) and the Medicare taxes. The current tax rate for the Social Security tax is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for the … [Read more...]

Have you asked an employee to sign a noncompete agreement? This contract limits the competition you will face from employees leaving the firm. But how far can you go? Can you force an employee to agree to any terms? First, understand that some states frown on these agreements, not allowing them at all. Even states that recognize these covenants won't enforce them if they last too long, cover … [Read more...]

Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer's size, industry, and staffing and operational needs. In some industries, such as service, it's not uncommon for payroll to encompass up to 50% of revenue. For other industries, such as manufacturing and food and beverage, it usually takes up no more than 20% to 30%. Your … [Read more...]

Enacted in 1938, the Fair Labor Standards Act governs federal minimum wage, overtime, child labor and recordkeeping laws. Failure to follow these laws may come with a price. The U.S. Department of Labor, which oversees the FLSA, says that it recovered an average of $706,000 in back wages per day in fiscal year 2020. For willful FLSA violations, employers can face steep civil monetary penalties … [Read more...]

A 2020 report from Reuters revealed that the number of remote employees worldwide is expected to double in 2021. Further, in a survey by LaSalle Network, 77% of executives said they expected to be following a hybrid model in 12 months, having some employees work in the office and others remotely. Many employers are therefore making their benefits packages more remote-work friendly. If you have … [Read more...]

An internship is an opportunity that can lead to a full-time job. College students may receive class credits for internships. You might want to use internship programs to scout new talent and get temporary help without committing to permanent new hires. But don't use interns as free or low-cost labor. If you're considering interns as potential hires, you need to know that federal labor laws … [Read more...]

According to the academic journal Justice Quarterly, millions of applicants were asked about a criminal record on a job application. Moreover, virtually all inquiries related to criminal history happen at the application stage. Studies reveal that employers use criminal history information largely for safety reasons, including to combat workplace theft, fraud and violence, plus to mitigate the … [Read more...]