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The days of thinking about human resources (HR) as merely a supportive, administrative function – say, passively managing employee documentation, overseeing timekeeping and administering payroll – are long over. Perform a comprehensive audit of your current situation Understand where you want to be as a company.
This can happen when an employee is terminated with a payroll company, but the employer forgets to notify one or more insurance carriers – medical, dental or vision, for example – that the employee is no longer with the company. Together, this equates to greater peace of mind that present and future HR needs are met.
If you’ve ever run your own payroll, you know what a huge undertaking it is. But did you know that these folks with their hands out, including the employee themselves, actually present a liability for your business? Indeed, these so-called payroll liabilities are defined as any type of payment owed as a result of running payroll.
How might taxes, payroll and your company’s relocation impact your business? Finally, if you are using a local payroll company that doesn’t do business in your new location, you may have to start over with a new payroll services provider. Your employees present one of the most significant pieces of the relocation decision.
You probably know that a professionalemployerorganization (PEO) can help you with benefits and payroll. Many PEOs offer several services that can be just as, if not more, beneficial to your employees and organization. But that’s not all it has to offer. Compensation services.
A solitary HR professional’s job description may include: Overseeing legal compliance and handling employee relations concerns Coordinating recruitment and strategizing on plans for retention Overseeing payroll and benefits Implementing and reviewing employee performance reviews Creating and enforcing company policies. Seeking Help.
Are rumors about companies that have had professionalemployerorganization problems keeping you from hiring a PEO? And it’s natural to have a few concerns at first, especially if co-employment is a new concept to you. But rest assured — a PEO is employer for certain purposes only (e.g.,
You’ve decided that HR outsourcing can help your business grow, and you’re ready to hire a professionalemployerorganization (PEO). Suddenly, payroll, benefit plans, recruiting support, performance management and certain employer liability issues are no longer time-sapping tasks. One word: fear.
Your search for the right professionalemployerorganization (PEO) requires a similar journey of taste-testing to find the perfect match for your company. The internet abounds with stories of PEOs increasing rates without warning or going out of business without paying the client’s employees or payroll taxes.
Paid family leave is funded through an additional payroll tax deduction and offers 50 percent of employees’ base wages up to a certain amount in 2018, with gradual increases to 67 percent of average weekly earnings by 2021. The state provides a weekly deduction calculator so companies can estimate payroll deductions.
In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 At its most basic level, the law encourages people to not only save money for retirement , but to save more and also become financially stable in the present. employer-sponsored 401(k) plans. The SECURE 2.0
Co-employment is the legal structure that professionalemployerorganizations (PEOs) and their client companies use to share HR responsibilities. As with any contractual relationship, it’s important that each party in the co-employment agreement fully understands all the nuances of the arrangement. Payroll taxes.
Rounding out your list are likely things like compliance law, worker’s compensation, payroll administration and company culture. A professionalemployerorganization (PEO) can mitigate and manage your business’s HR-related risks, which can lead to a healthier, more prosperous acquisition. How is an employee onboarded?
When choosing a professionalemployerorganization (PEO), there is an entire checklist of items you should consider to make sure you choose a partner that is a good fit for you. Not realizing the importance of details related to finances, payroll, and taxes presents one of the biggest risks for growing companies.
You probably know that a professionalemployerorganization (PEO) can help you with benefits and payroll. Many PEOs offer several services that can be just as, if not more, beneficial to your employees and organization. But that’s not all it has to offer. Compensation services.
The idea is these emerging platforms and apps tie together payroll and HRIS with wellness and healthcare navigator apps to help employees live healthier lives. The app can also present her with the opportunity to add or change voluntary benefits and, during open enrollment, learn about her benefit choices and decide on the best plan.
Online benefits enrollment presents all compliance materials (including required federal and state forms and notices), all plan summaries, associated benefits, and all enrollment forms in one easy-to-access place. This allows HR teams to put information in front of employees early and in several methods.
Also, it may be cheaper to recruit professionals such as accountants or computer programmers from outside than to develop less-skilled people within the organization. But recruiting from outside the organization for any but entry-level positions presents the problem of adjustment time for the new employees.
You probably know that a professionalemployerorganization (PEO) can help you with benefits and payroll. Many PEOs offer several services that can be just as, if not more, beneficial to your employees and organization. But that’s not all it has to offer. Compensation services.
You may also want to have a third-party witness present, such as an HR professional. Retain all payroll records for three years. The solution: Refer all communication from terminated employees to your HR department or professionalemployerorganization (PEO).
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