Category: Payroll

  • When “It’s Just Payroll” Becomes a $20K Fine 

    When “It’s Just Payroll” Becomes a $20K Fine 

    Many small business owners think of payroll as a back-office task—just cutting checks and sending pay slips. But payroll isn’t just about payment; it’s a compliance-heavy process with real legal consequences. 

    In 2025, regulatory bodies will crack down on payroll errors, and small businesses are the most vulnerable. A “minor” oversight in wage calculation, classification, or tax submission can easily spiral into a lawsuit, audit, or a hefty fine—often over $20,000.

    Misclassifying Employees vs. Contractors 

    One of the most common payroll mistakes is misclassifying employees as independent contractors to avoid taxes or benefits. This might save money short-term, but once flagged by labor departments, the penalties include: 

    • Back pay for overtime and benefits 
    • Employer payroll taxes 
    • Additional federal/state fines 

    Avoid this by reviewing classification laws like the IRS 20-factor test and using local labor guidelines. 

    Missing Tax Deadlines 

    Payroll involves more than just salaries—it includes federal and state tax withholdings, unemployment insurance, and social security contributions. Missing deadlines for filing forms like 941, W-2, or 1099 can trigger automatic penalties. 

    • Late W-2 filing penalty: up to $290 per form 
    • Failure to deposit payroll taxes: up to 15% interest + penalties 
    • Incorrect TIN: $50 per incorrect return 

    Protect your business by using automated payroll software that tracks due dates and files directly with tax agencies. 

    Failing to Track Overtime or Breaks 

    Most labor laws require overtime for non-exempt employees working over 40 hours a week. If you aren’t tracking hours properly or paying time-and-a-half when required, that’s considered wage theft—even if accidental. 

    • Recent lawsuits have forced small businesses to: 
    • Pay years of backdated overtime 
    • Cover legal fees for employees 
    • Face public backlash and reputation damage  

    Fix this by implementing a compliant time-tracking system and ensuring managers understand local labor laws. 

    Inaccurate Record Keeping 

    Payroll records must be kept for several years, depending on your jurisdiction. Inaccurate or missing records during an audit can make you liable—even if you were paying correctly. 

    • Fines can go up to $1,100 per missing record 
    • Businesses may be barred from government contracts 

    Stay compliant by maintaining digital records for at least 3–5 years and backing them up securely. 

    Conclusion 

    Payroll is not “just admin.” It’s a compliance function with financial and legal exposure. As your team grows and regulations evolve, outsourcing to a PEO or using payroll specialists may save you more than DIY errors ever could. 

    Reference

  • No, HR Isn’t Just for Big Companies 

    No, HR Isn’t Just for Big Companies 

    It is alarming how business owners believe they can “grow into” needing HR. But in 2025, that mindset is costing startups and SMEs real money. HR isn’t about building corporate bureaucracy—it’s about protecting your people, your time, and your business from early-stage mistakes. 

    Hiring Without Compliance = Risk 

    Startups often skip formal hiring processes, relying on referrals, rushed interviews, or handshake agreements. The problem? No offer letters, no job descriptions, and no onboarding protocols. 

    That leads to: 

    • Miscommunication of job roles 
    • Legal risks over at-will vs. contract terms 
    • Poor performance tracking and accountability 

    Solve this by establishing basic HR documentation from Day 1—even if you’re hiring your first employee. 

    No HR? Expect High Turnover 

    Small teams feel every resignation. But when employees leave because of burnout, favoritism, or poor communication, it’s often a symptom of a poor HR structure. 

    Without HR: 

    • There’s no system to handle grievances 
    • Burnout goes unnoticed 
    • Promotions feel biased or unclear 

    Protect retention by creating basic HR protocols: onboarding, reviews, feedback loops, and growth plans. 

    HR Helps Avoid Costly Employment Lawsuits 

    Wrongful termination, discrimination, harassment—these issues are not limited to large companies. A single employment claim can bankrupt a small business. 

    In the absence of HR: 

    • There are no clear policies in place 
    • There’s no paper trail to defend decisions 
    • No internal reporting systems exist 

    Avoid this by implementing handbooks, codes of conduct, and proper documentation—especially if you’re in a state with strict labor laws. 

    You’re Already Doing HR—Just Badly 

    If you’re setting salaries, negotiating work-from-home rules, or resolving team conflicts—congratulations, you’re doing HR. The real question is: are you doing it legally, consistently, and effectively? 

    A dedicated HR system or a fractional HR partner can: 

    • Standardize your hiring and reviews 
    • Handle sensitive issues confidentially 
    • Keep you compliant with local labor laws 

    Conclusion 

    HR is not about headcount—it’s about structure, protection, and long-term scale. Whether you’re a 3-person agency or a 30-person tech startup, investing in HR now prevents expensive mistakes later. Don’t wait for lawsuits, walkouts, or tax audits to start taking HR seriously. 

    Reference

  • You Don’t Need a PEO—Until Your Best Employee Quits and Sues 

    You Don’t Need a PEO—Until Your Best Employee Quits and Sues 

    There’s no siren. No Slack ping. No dramatic exit. Just a resignation letter. 

    But two weeks later, there’s an email from their attorney. What started as a simple departure has spiraled into a legal complaint—and now you’re questioning every policy, every payroll entry, every email sent during that employee’s time with your business.  And here’s the real kicker: 
    It could have been prevented

    HR Fires Don’t Always Start Loud 

    Small businesses often believe they can manage HR “in-house”—until something breaks down. And by then, it’s usually expensive.  One misunderstood termination. A payroll delay. The benefits of miscommunication. When these things stack up, your top talent doesn’t just leave—they take their frustrations to court. That’s when the true value of a PEO (Professional Employer Organization) becomes painfully clear. 

    The Problem Most Founders Don’t See Coming 

    When you build your business without HR infrastructure, you’re building cracks beneath the surface. 

    • You hire fast to keep up with demand 
      • You rely on templates for contracts and policies 
      • You assume “everyone’s fine” because no one’s complaining until they do

    What You Thought You Were Doing Right: 

    • sing an HR tool to onboard new hires 
      • Having a payroll software to handle salaries 
      • Providing “basic” benefits like health insurance 

    What Actually Happened: 

    • An outdated employment contract didn’t protect your company 
    • • A missed compliance update led to unlawful dismissal 
    • • The benefit plan wasn’t competitive—so they left for better 
    • And worse: you were caught completely off guard. 

    What a PEO Could’ve Prevented: 

    • Proper documentation for terminations 
    • Access to legal HR advisors before decisions are made 
    • Competitive benefits that retain high performers 
    • Real-time compliance updates, not outdated policy templates 
    • A formal grievance and resolution process 

    The Cost of Waiting Until It’s Too Late

    The average employment lawsuit costs businesses $125,000+, according to Hiscox’s Guide to Employee Lawsuits.  Even if you win, the cost in legal fees, time, and brand trust is irreversible.  A PEO, on the other hand, costs a fraction of that—and prevents most issues before they become threats. 

    The Employee Who Left Shouldn’t Be the One Who Teaches You the Lesson 

    Smart HR isn’t just paperwork. It’s prevention.  When the right systems, advisors, and benefits are in place, your people stay—and when they don’t, your business is still protected. You don’t need a PEO… 
    Until the moment you wish you had one yesterday. 

    Ready to talk about PEO support before something breaks? 

    Let’s explore what it would look like for your business. 

    References: 
  • What Your Balance Sheet Doesn’t Show: The Real Business Value of a PEO

    What Your Balance Sheet Doesn’t Show: The Real Business Value of a PEO

    Because sometimes, the biggest profits come from what you didn’t lose.  You won’t see it at first glance. 

    There’s no flashing red alert. No urgent Slack message. No budget meeting meltdown. Just a quiet, consistent drain happening behind the scenes of your growing business. It might show up in the form of a compliance fine you didn’t see coming. Or the resignation of a high  performer after one too many payroll glitches. Or worse—lawsuits, turnover, and missed opportunities stacked like hidden fees under “Operating Expenses.”  But here’s the twist: 

    Most of those losses could’ve been avoided… with the right PEO. 

    The ROI You Can’t Calculate (Until It’s Too Late) 

    When most business owners consider a PEO (Professional Employer Organization), they look at costs upfront—and often forget to assess the costs of not having one.  A PEO’s ROI is rarely found in flashy dashboards or spreadsheets.

      It’s found in the: 

    • Lawsuit that never happened 
    • Star employee who stayed because of better benefits 
    • Penalty that was prevented before it was ever filed 
    • HR fire that never reached your desk 

    What You Think You’re Paying For: 

    • Payroll processing 
    • Employee onboarding 
    • Compliance checklists 
    • Benefit access 

    What You’re Actually Getting: 

    • Legal protection 
    • Risk prevention 
    • Strategic HR planning 
    • Improved retention 
    • Business continuity 
    • Peace of mind 

    And most importantly—time back to lead, not chase admin. 

    The Cost of an HR Mistake Can Be 10x the PEO Fee 

    An EEOC violation alone can cost between $10,000 and $100,000.  Wage and hour lawsuits? Even more. According to the Society for Human Resource Management (SHRM), the average cost of just one bad hire is nearly $240,000 when your account for lost productivity, morale damage, and rehiring expenses.  A PEO minimizes those odds with structured hiring processes, HR best practices, and access to experts who live and breathe compliance. 

    Better Benefits Without Bleeding Cash 

    By co-employing your staff, PEOs give you access to benefits typically reserved for large corporations: 

    • Group health insurance 
    • 401(k) plans 
    • Mental health support 
    • Wellness programs 
    • Workers comp coverage 

    And because you’re part of a larger buying pool, you get enterprise-level coverage at SMB prices.  According to the National Association of Professional Employer Organizations (NAPEO), companies that use a PEO: 

    • Grow 7–9% faster 
    • Experience 10–14% lower employee turnover 
    • Are 50% less likely to go out of business 

    Time is the New Currency 

    Most CEOs don’t start businesses to become part-time HR managers.  But when compliance updates change weekly, employees need questions answered, and hiring surges overnight, you end up buried in tasks that take you away from growth.  A PEO handles the operational chaos, so you can focus on: 

    • Launching new services 
    • Expanding into new markets 
    • Leading your team 
    • Building client relationships 

    Talent Stays Where HR Works 

    Quiet quitting. Burnout. Lack of development. These aren’t just HR buzzwords—they’re indicators that your people feel unsupported. PEOs don’t just process paperwork. They build cultures. From onboarding design to fair policies and performance tracking, they help businesses create environments where employees want to stay—and thrive. 

    Risk Is the Hidden Killer of Growth 

    Think your business is too small to get sued? Think again.  One compliance misstep could derail everything you’ve built. And here’s the worst part: you often don’t know it’s coming until it hits.  A PEO keeps you ahead of risk with: 

    • Up-to-date legal guidance 
    • Automated filings 
    • Employee handbook developmen 
    • Investigations and conflict resolution 
    • On-demand HR counsel 

    So, What’s the Real ROI of a PEO? It’s not just savings—it’s security, scale, and strategy. In a time when regulations are shifting, talent is scarce, and competition is cutthroat, your HR setup shouldn’t just help you survive. It should fuel your ability to thrive  Thinking Beyond Cost—Thinking Growth . The smartest business owners aren’t asking “What does a PEO cost?”  They’re asking: 

    “What’s it costing me not to have one?” 

    Ready to see the hidden ROI for yourself? Let’s explore what a PEO would look like for your business. Prefer to read more success stories and insights? Browse the rest of the series here.  

    References

  • Business Taxes Checklist for Ending Q3 and Starting Q4

    Business Taxes Checklist for Ending Q3 and Starting Q4

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    Do you want to stay at the top of the various tax obligations and streamline your taxes? If yes, we will be providing you with information to help manage the taxes appropriately. Generally, when businesses complete their financial accounting on time, it helps avoid penalties. 

    Staying on top of quarterly taxes, payroll taxes, and potential tax credits helps optimize financial resources and prevent compliance issues. 

    Below we have provided a comprehensive checklist that helps guide you through the ending of Q3 and beginning of Q4 with confidence. 

    5 Key Points to Include in Your Business Taxes Checklist for Q3 and Q4

    Check out these points to optimize your business taxes as Q3 ends and Q4 begins:

    Review and Adjust Your Goals

    Quarter 4 is all about starting and ending strong in the market, and depending on the market conditions, you can set a goal. Your goals will also align well with the complete financials and have accurate data. Business owners will have an accurate idea of their gross revenue and overhead expenses that they bear. Additionally, being a business owner, you also need to evaluate your profitability, which is 

    Profitability = (Revenue Less Variable/Direct Costs) 

    Quarter 4 presents a unique opportunity for businesses to reduce Q3 costs by analyzing these variables/fixed expenses. 

    Create a Tax Projection

    After you have gathered a prominent picture of the current net income for the year, you need to forecast expenses/revenue. Based on the estimated net projection of income, you need to tax appropriately depending on LLC or Corporation scale business.

    For an LLC, this expenditure includes any personal income along with your household. All these tax bills are essential to understand your year-end tax bills. You can check these estimates out and set aside the money to pay the tax estimates. 

    Ensure Profitability by Understanding the Additional Taxes 

    After reviewing the numbers, do you find that your business pace net income is over $60,000? If you are a sole proprietor or a single-member LLC or LLC partnership, you may need to pay additional self-employment tax. 

    This is 15.3% of the taxes, it adds up to your net bills and might increase your overall tax bills effectively. We would recommend you reach out to your accountant and discuss this review and get an appropriate overview of the situation. 

    Deal with Payroll Taxes: The Elephant in the Room

    Payroll taxes are either dealt with in-house or by a professional employer organization or PEO. Payroll taxes are typically remitted quarterly, aligning with federal taxes and state tax schedules. 

    This is an ideal time for a business owner to understand that all withholdings are appropriately accounted for. Whether you are handling the payroll internally or through a PEO you can ensure that filings are accurate and complete. 

    Check Out Tax Relief Through Tax Credits and Deductions 

    Tax credits are known to reduce your tax burden significantly. Some of the common credits we advise you to keep an eye out for are: 

    • Research and Development Credits 
    • Energy Efficiency Credits 
    • Other Incentives Based on Industry

    When you file for the credits, we assure you that you can save thousands of dollars. Consult with a professional tax organization to get a detailed understanding of the applicable credits and deductions. 

    Final Words

    If you are diligent regarding your Q3 and Q4 tax savings, it can help you to prevent costly penalties. Start optimizing your financial situation and review your quarterly estimated payments by September 15, 2024. These will help you to stay on top of the payroll tax obligations and explore potential tax credits. 

    If you are seeking an appropriate organization that might help process taxes, contact us. If you are seeking more information regarding the tax checklist, go through our blogs section. We will help you out with the necessary information and process your Q3-Q4 taxes. 

    Reference Links 

    https://engagecpas.com/blog/4th-quarter-small-business-checklist/

    https://withdouble.com/blog/checklist-for-quarterly-planning

    https://medium.com/@finotor/understanding-the-calendar-when-does-q3-really-end-9889844cbccf

    https://www.rhythmsystems.com/blog/how-to-close-out-a-quarter

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    Find out if a PEO is the right solution for your business.
    Fill out the form below and we will contact you to schedule a chat.

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  • 5 Common Payroll Problems from 2023 and How to Overcome Them in 2024

    5 Common Payroll Problems from 2023 and How to Overcome Them in 2024

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    Are you stuck in a never-ending cycle of complicated payroll issues in the past year, wondering if there is a solution?

    From intricate legal compliance issues to the pressing concerns of data security, businesses encounter hurdles that need swift resolutions. 

    Payroll does not have to be a time and resource-consuming process. There are plenty of ways to reduce the amount of time you spend on payroll. Therefore, this blog will discuss five key payroll challenges from 2023 and provide actionable insights to address them in 2024. 

    Keep reading to know more.

    5 Payroll Challenges from 2023 to Resolve in 2024

    There are the five major payroll issues that businesses have faced in the past year that can be resolved in 2024:

    Legal Compliance and Statutory Challenges

    One of the biggest challenges, businesses face, when it comes to payroll compliance is staying compliant with labor laws, state laws, and statutory requirements. These regulations can be complex and constantly changing, which means that there can be a lot of room for error.

    If you do not follow these regional guidelines, you could face significant fines for your business. Moreover, remote work is gradually increasing for companies. Therefore, the solution to payroll compliance challenges is to invest in automation and continuous updates to your payroll software. Another way is to outsource payroll management to experienced professionals to stay updated with evolving regulations with the assurance and accuracy you need.

    Tax Filling Issues 

    Timely and accurate payroll tax filings are tricky but vital for business, as delays or errors can lead to penalties and interest charges, adding financial strain to businesses. Compliance with these standards in 2024 is vital, ensuring businesses avoid penalties and maintain financial responsibility.

    It accurately calculates and withholds taxes from employees’ paychecks, as well as pays the business’s share of payroll taxes on time. 

    As a solution, it is advisable to delegate payroll responsibilities to a third-party entity to alleviate concerns related to legal complexities. Third-party services bring specialized expertise and can promptly adjust to industry trends or regulatory changes.

    Employee Data Handling and Training

    Managing employee information is like managing a complicated puzzle without errors. Payroll is all about financial information about the employees, including salary, benefits, perks, bonuses, and other benefits like health insurance, travel and accommodation, credit, etc. 

    To solve this, direct deposits can be simplified through payroll management software, offering direct deposit services for convenient salary distribution directly to employees’ bank accounts. Eliminate physical document storage. Provide continuous training to personnel managing payroll data to reinforce optimal practices for ensuring data security and privacy. 

    Payroll Backup and Accuracy

    Confronting payroll challenges remains crucial for business owners, particularly startups. Businesses often struggle with payroll accuracy, streamlining data entry, and precise calculations. In addition, new businesses often discard or improperly file payroll, which can later cause trouble in payroll tracking.

    Therefore, to enhance accountability, businesses should preserve a backup of payroll data, preferably on a cloud platform or an external device, minimizing the risk of data loss. Also, implementing a reliable time-tracking system, staying alert on tax rates, and implementing payroll software contribute to seamless payroll processes, mitigating potential errors and their consequential impacts.

    Concern on Data-Security Breaches

    Nowadays, cybercrime and data breaches are on the rise, making payroll data protection a challenge. This increased risk requires the need for strong cybersecurity defenses. Not only does a breach compromise confidential employee data, but it also exposes businesses to potential regulatory non-compliance issues.

    Therefore, payroll service providers need to allocate resources to strengthen their cybersecurity defenses against the ever-changing and ever-evolving cyber threats of 2024.

    It includes implementing encryption, stringent access controls, consistent updates, employee training, and dependable backup and recovery strategies. Another great alternative is outsourcing payroll to a reliable provider with robust security protocols. These combined measures protect payroll data against potential threats, assuring secure processing.

    As we move towards 2024, addressing payroll issues requires strategic actions. Beyond automation and strong security, businesses of all sizes can benefit from outsourcing payroll to a reliable PEO partner.

    Therefore, if you are in need of expert payroll services to streamline processes and compliance do not hesitate to contact us. Check out our blog for more information on related topics, leading your business forward in 2024!

    Reference Links

    https://www.softwaresuggest.com/blog/payroll-problem-solutions/

    https://medium.com/@bestarion/8-common-payroll-compliance-errors-to-avoid-in-2024-ae43060c8806

    https://myxalary.com/blog/challenges-of-payroll-processing/

    https://www.peoplehum.com/blog/payroll-challenges 

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  • Difference Between the Value of AI and Human Experience in HR and Payroll Management

    Difference Between the Value of AI and Human Experience in HR and Payroll Management

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    Do you know introducing artificial intelligence in human resources and payroll management can help you run a seamless business operation? With the implementation of AI, HR services have been automated and efficient. However, AI may not be able to replace the human-centric aspects of HR management, but the possibilities and advancements it can bring will help in better management. 

    Continue reading to know more about the differences between the value of human experience and artificial intelligence in HR management!

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    Top 6 Differences between the Role of Human Experiences and AI in HR and Payroll Management

    Artificial intelligence has brought several significant changes in managing human resources, but the role of human experiences is still essential. 

    Here are 6 differences between the value of AI and human experiences for better interpretation of the facts:

    Decision-Making 

    AI helps in processing huge data without much turnaround time and accelerates the decision-making process. It helps analyze candidates’ resumes, predicts the turnover of an employee, and assesses their skills seamlessly. Thus, AI comes forward as a crucial tool that facilitates workforce planning and recruitment. 

    However, human judgment is time-consuming, but it excels in evaluating the complex interpersonal dynamics of an employee, soft skills, cultural fit, etc. HR professionals can understand every employee’s needs and resolve any issues empathetically.

    Personalization

    With artificial intelligence, you can personalize employee experiences through customized training programs, career development opportunities, etc. This helps in increasing employee engagement and leads to excellent employee retention.

    However, when it comes to sensitive issues like workplace conflicts, mental health, career counseling, etc., a human touch is needed. AI cannot understand the compassion and mental stress of an individual.

    Efficiency

    With artificial intelligence, HR processes get streamlined and easy as repetitive tasks like data management, payroll, etc., get automated. This automation releases the administrative burden, offering enough time for strategic initiatives. 

    On the other hand, AI cannot build up employee relationships or address the concerns of an individual. Thus, HR professionals play a crucial role in building trust and a positive work environment.

    Diversity and Inclusion

    AI can put an end to the biased recruitment and promotion process and make the decision based on employees’ skills. However, this is only possible when the database is managed efficiently. On the other hand, human resources professionals can understand biases and issues properly and address them while hiring or promoting an employee. 

    Adaptability

    AI plays an essential role in accomplishing large-scale HR responsibilities and managing a huge workforce efficiently. However, when it comes to unforeseen situations, AI cannot adapt to it. Here comes the need for an HR professional, who can overcome complex situations with smart and creative thinking. 

    Cost Efficiency 

    AI improves resource allocation and automates HR tasks, thereby reducing operational costs. However, employee satisfaction, strategic planning, talent development, etc., need a human understanding. Thus, complete AI implementation in HR and payroll management cannot yield better results. Instead, companies need to balance both the human experience and AI for a successful and efficient management system.

    Final Words

    The introduction of AI in HR and payroll management has undoubtedly increased compliance, efficiency, data analysis capabilities, and more. However, the role of empathetic decision-making, emotional intelligence, etc., is still undeniable for a healthy work culture. The perfect collaboration of human experiences and AI can foster a positive work environment and enhanced employee experience. If you need professional assistance in implementing an efficient HR solution, contact us. Our blog section can also guide you in understanding these aspects in an easier way.

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    Reference Links:

    https://blog.darwinbox.com/ai-in-hr-trends-benefits-best-practices

    https://www.sciencedirect.com/science/article/pii/S2772662223000899

    https://www.hrexchangenetwork.com/hr-tech/articles/ways-ai-can-make-hr-professionals-more-efficient

    https://www.whatishumanresource.com/11-ways-ai-can-revolutionize-human-resources

    https://www.oracle.com/a/ocom/docs/applications/hcm/oracle-ai-in-hr-wp.pdf

    https://www.hec.edu/en/knowledge/articles/ai-hr-how-it-really-used-and-what-are-risks

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  • The Dos and Don’ts of Hiring: A Guide for Small Business Owners

    The Dos and Don’ts of Hiring: A Guide for Small Business Owners

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    Are you making mistakes when hiring? Employing the right people is key to a successful small business. If you want your business to grow, you need a dedicated team. But, when you have limited time and resources, hiring can be tough. Here are some dos and don’ts to help you make smart hiring decisions.

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    Dos for Hiring in Small Businesses

    Here are some tips for hiring in small businesses:

    Write a Clear Job Description: 

    Before you start hiring, know exactly what you need. This will help you write a job description that attracts the right people. It is to make sure they have the right qualifications, skills, and experience.

    Offer Flexible Work Hours: 

    Strict schedules can be boring and stressful. This can stifle creativity. Offering flexible hours can boost thinking and productivity. You could also consider remote work. This can attract skilled people and help keep them in the company. It also helps to create a good work culture.

    Share Your Company’s Culture and Values: 

    It’s okay to hire people with less skill or qualifications. What’s important is that they fit into your company’s culture and values. Look at their work style, values, and how well they work with others. A team that shares the same values works better together. This creates a productive work environment.

    Hire People Who Love the Job: 

    A person who loves their job can perform better. Even if they don’t have a lot of skills or experience, you can train them. So, hire people who are passionate and dedicated. They will work hard to help your company grow.

    Do Look into the Must Haves Quality of a Candidate:

    Make sure the candidate you choose has the following positives:

    • Past work experience
    • Higher education
    • Skills
    • Positive character
    • Social personality

    Don’ts for Hiring in Small Businesses

    Here are some things to avoid when hiring:

    Don’t Skip the Background Check: 

    A resume and interview can tell you a lot about a person. But, it’s not enough. You need to check their background too. Look at their employment history, qualifications, and certificates. This can help you choose the right person.

    Don’t Rush the Hiring Process: 

    It’s better to take your time to find the right person. Hiring is not just about filling a position. It’s about bringing in new talent. So, take your time to find the right person.

    Don’t Delay Onboarding: 

    Once you’ve chosen the right person, get them started right away. Give them the support and resources they need. This will help them settle into their role.

    Don’t Settle for Less: 

    Hiring people with different skills and experiences can bring new ideas to your business. Try to hire people who can create a dynamic and exciting work environment.

    Final Word

    All these strategies can help you hire the right candidate and take your company to the heights of success. Avoid hiring a candidate based on personal preferences and biases. In case you need professional assistance to hire an appropriate candidate, consider contacting us. For further information on the workings of a small business organization, you can read our blog section. 

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    Reference Links:

    https://www.freshworks.com/hrms/15-tips-for-small-business-hiring-and-5-mistakes-to-avoid-blog/

    https://www.seacoastbank.com/resource-center/business-insights/small-business-hiring-tips

    https://www.snagajob.com/blog/post/a-small-business-owners-guide-to-hiring-your-first-employee-and-beyond

    https://www.business.com/articles/small-business-hiring-dos-donts/

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  • 12 Ways How Companies Can Reduce Workers’ Compensation Costs

    12 Ways How Companies Can Reduce Workers’ Compensation Costs

    Are you worried about workers’ compensation costs cutting a high share of your company’s budget?

    As compared to the share a company spends on salaries and employee health benefits, this number is very high. Hence, it is vital to know how companies can reduce worker’s compensation costs. 

    Fortunately, there are many ways to do it that many companies do not know of. The different ways to reduce worker’s compensation costs are discussed below.

    12 Effective Strategies to Reduce Workers’ Compensation Costs 

    Here are a few ways a company can manage to reduce their worker compensation costs effectively:

    Install a Safety Program 

    Document a safety program and also involve the employees to participate in field practices for the same. Employees training on safety and hazard mitigation will help them be active during accidental mishaps. 

    Join Hands with a PEO or Professional Employer Organization

    A PEO will help provide the right guidance by evaluating the safety guidelines of the workplace. Also, joining hands with a PEO will help in training the worker on what to do in an emergency like a fire, etc. 

    Introduce a Return-to-Work Program

    The longer the injured employee takes to come to the office, the higher the compensation costs will be.

    Companies must maintain a return-to-work policy for their employees. Doing so will prevent unnecessary leaves leading to no extra compensatory costs.  

    Establish an Employee Wellness Program

    Companies must implement an Employee Wellness Program to educate their employees regarding workplace safety. 

    It will also help employees take precautionary measures, be alert during accidents, and manage workplace hazards.

    Provide Immediate Medical Solutions in Case of Emergencies

    Companies should be effectively equipped with the needful tools and solutions in case of any emergency. If an employee gets sick this will help curb any long-term medical issues of the employees.

    Ensure Quicker Insurance Communication

    Companies must maintain error-free insurance documentation of the employees. Doing so will prevent any mistakes during emergencies, leading to no extra compensatory costs. 

    In case of any other doubt, the quicker the insurance process, the lesser chances of incurring extra compensatory costs.

    Select the Right Insurance Policy

    Selecting the right insurance means a reduction in higher premium rates. If the market is competitive, choosing an insurance policy that best fits your available funds and resources will help cut unwanted expenses. Additionally, knowing the position of your company will help avoid paying more than you should. 

    Set a Workers’ Compensation Claims Guidelines

    Being thorough with the guidelines will help your company devise the right worker compensation plans. 

    It includes dealing with the right health insurers, verifying claim coverages, and ensuring the paperwork is correct. 

    Abide by the State Policies

    Any company policies must be in tune with the state policies this help avoid penalties. Also, many states give discounts on employee wellness programs and businesses that promote a safer work environment. 

    Instal Social Network Analysis 

    This tool helps an employer track the claims raised by different employees. So, employers can avoid mistakes in documentation, fraud claims, and multiple claims by one employee. 

    Boost the Morale of Employees

    Maintaining a healthy and positive work-life balance helps employees attain higher work productivity. Employees can lead a healthy lifestyle and, in many aspects, reduce the risks of falling sick. 

    Companies can conduct weekly fun-filled activities and other motivating sessions to keep up the morale of their employees. 

    Try to Predict the Costs of Probable Mishaps

    Predicting the costs of possible accidents in the workplace will help companies to allocate a part of their budget to cover these. Doing this will help the business to be prepared beforehand and mitigate it without incurring extra costs. 

    If you need deeper insights into human resource management and professional assistance, contact us. Also, if interested in reading more such topics read our blogs for detailed insights.  

    Reference Links:

    https://www.insperity.com/blog/workers-compensation-insurance-cost/ 

    https://www.hourly.io/post/5-ways-to-reduce-workers-compensation-costs 

    https://www.klear.ai/post/reduce-workers-compensation-costs 

    Contact Us

    Find out if a PEO is the right solution for your business.
    Fill out the form below and we will contact you to schedule a chat.

  • How Small Businesses Can Offer Big Benefits Packages – 4 Ways

    How Small Businesses Can Offer Big Benefits Packages – 4 Ways

    Did you know a larger percentage of a company’s employees seek additional benefits than a hike in their salaries?  

    Good employee benefits packages have increasingly become a determinant factor in attracting new employees and retaining old ones. Thus, by providing employees with big benefits packages, small businesses have better possibilities to grow. 

    Read on to understand how small businesses can offer big benefits packages even with low-budget funding. 

    Discover 4 Ways How Small Businesses Can Offer Big Benefits Packages

    By implementing these strategies, small businesses will be better able to offer high benefits packages to their employees:

    Applying for Affordable Health Care Schemes

    There are many healthcare schemes provided by the government or other institutes that you can offer:

    The US government has started many low-cost healthcare schemes for small businesses. It aims at helping small businesses ensure that all their employees get covered under health insurance. Additionally, medical insurance is a must factor that companies must extend to their employees.

    Schemes such as SHOP or Small Business Health Options Program aim to give medical health benefits to employees at affordable rates. 

    In addition, many other health insurers provide insurance at zero costs. Since companies (big or small) must give insurance coverage to their employees, therefore these schemes can be a good option for small-funded businesses

    Forming a Partnership with a PEO or Professional Employer Organization

    A PEO helps a small business to cut the costs required to employ HR resources. As PEO have years of expertise in HR duties, they help carry out all the HR-related functions of your company at a lower cost. Hence, a small business can replace its in-house HR department with a PEO. Get in an agreement with a PEO to enjoy the associated benefits:

    It offers an extensive range of tools and resources helpful to employees, which would otherwise cost more for a small business to do it alone. 

    It also provides special employee benefit schemes that it gets by serving different organizations. This helps achieve a quality work atmosphere in a company.

    Ensuring Work-Life Balance for Mental Health Benefits

    Mental health is one of the most crucial elements of comprehensive health coverage. Nowadays, we seek more quality in life than quantity! Achieving good mental health has become one of the most prominent factors in today’s world. So, employees can benefit through:

    One big lookout for employees is to have a positive work-life balance, and so employees can benefit from good mental health. 

    Good mental health is also achievable with modern-day, tech-enabled, and advanced medical insurers. By sourcing coverage with modern-day insurers, small businesses can give more benefits to their employees without high budget cuts.

    A thriving business has increasingly lesser one-to-one employee interaction with the head of the company. It reduces the personal touch between higher authorities and the employees. 

    Taking this as an advantage for small businesses, whereby they can take steps to foster an engaging employee-CEO relationship. Doing so will help the company’s employees to voice their opinions and reduce unnecessary pressure.  

    Maintaining a Joyful Working Environment

    Treat your employees with frequent dinners, company retreats, and more to maintain a joyful working environment.

    It creates a healthy atmosphere that allows higher employee retention and higher recruitment possibilities. 

    Doing so in the long term will help a small business to hold on to its employees and incur high returns. These returns will help channel further ways to earn higher revenue and attain even better and bigger employee benefits packages. So, it will be beneficial for the growth of small companies and their employees. 

    Therefore, with these strategies, small businesses can offer big benefits packages to their employees. Furthermore, if you wish to get these services, please feel free to contact us. Also, in case you are willing to learn more, explore our website’s blog section. 

    Reference Links:

    https://www.paychex.com/articles/employee-benefits/employee-benefits-and-small-businesses#:~:text=A%20typical%20benefits%20package%20for,savings%20account%2Fhealth%20reimbursement%20arrangement.

    https://www.ehealthinsurance.com/resources/small-business/choosing-right-benefits-package-small-business

    https://www.cornerstonepeo.com/post/how-small-businesses-can-offer-big-benefits-packages