Enacted in 1996, the Work Opportunity Tax Credit (WOTC) is a federal tax credit that eligible employers can claim if they hire eligible individuals who have consistently faced stringent barriers to employment. According to the Department of Labor, "Each year, employers claim over $1 billion in tax credits under the WOTC program." Since 1996, Congress has frequently reauthorized the WOTC. The … [Read more...]

Self-service platforms let employees view and manage certain HR and payroll tasks themselves, which eases pressure on the HR or payroll team. Studies show that the vast majority of employers offer self-service HR or payroll. In National Payroll Week's 2020 "Getting Paid in America" survey, 84.45% of employees said their employer provides a self-service platform that lets them access their pay and … [Read more...]

At a minimum, the human resources department handles: Recruiting. Hiring. Compensation. Employee benefits. Training and development. Employee relations. Employee engagement. Employee retention. Health and safety. HR compliance. To save money, many small-business owners tackle these employment activities on their own, only to learn that the company is better off … [Read more...]

To take leave under the Family and Medical Leave Act, an employee must: Work for an employer that has least 50 employees for 20 or more workweeks in the present or previous year. Have worked for the employer for at least 12 months, whether consecutively or nonconsecutively. Have worked at least 1,250 hours for the employer during the 12 months prior to the start of the leave. Work at … [Read more...]

The employee handbook is no longer viewed as just a communication tool for employers. It's now regarded as a protection strategy as well. The handbook can be your recipe for onboarding success and your legal knight in shining armor, regardless of your business size. Your recipe for onboarding success Consider the following basic information that's typically given to new hires during … [Read more...]

Before Open Enrollment - Reflect on the previous open enrollment period. Note the successes and failures and formulate a strategy for avoiding prior blunders. - Survey your employees to get a sense of what they want and don't want in their benefits packages. They may want more personalized options, more communication or a more streamlined elections process. - Consult with your benefits … [Read more...]

A diverse talent pool offers the best odds for hiring the right person for each position. What are some of the challenges in putting together diverse teams? Minority groups may feel undervalued and not speak up as much. Majority groups may feel alienated by efforts to enhance diversity. Cultural conflicts may distract teams from working on company problems. Team members may create … [Read more...]

When you offer a PEP, a pooled plan provider or PPP will be responsible for most fiduciary and administrative duties for the plan, freeing participating employers and enabling them to limit legal exposure. There's a streamlining of reporting and disclosure requirements as well. Fidelity, Paychex and Aon are offering PEPs as PPPs. Fidelity's plan is aimed at small businesses with five to 50 … [Read more...]

After-tax deductions These deductions are subtracted from employees' wages after pretax deductions and payroll taxes have been taken out. After-tax deductions — such as wage garnishment, Roth 401(k) contributions and charitable donations — do not lower employees' taxable wages. Automated clearing house (ACH) ACH accomplishes the electronic transfer of funds from one bank account to … [Read more...]

Do you have a pay compression program in your company? Pay compression occurs when either of the following happens: A new hire earns nearly the same amount as a more experienced employee in the same role. A subordinate earns close to what their manager or supervisor makes. Pay compression: Example No. 1 A job candidate has everything you're looking for, including hot skills. You know … [Read more...]