Fortune Business Consulting

Tag: small business

  • Is Your Customer Service Losing Your Clients? Here’s How to Deliver an Immersive Client Experience

    Is Your Customer Service Losing Your Clients? Here’s How to Deliver an Immersive Client Experience

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    Are your clients not satisfied with your customer service and ultimately switching to your competitor? Customer experience is the key to maintaining a successful business venture. As a responsible customer service provider, you must initiate commendable customer service to improve client retention and business goodwill. Continue reading to know the best strategies to deliver an immersive customer experience.

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    Top 6 Strategies to Promote an Immersive Client Experience

    Several strategies can help you improve your customer service. However, here are the top 6 that can help enhance your customer experience successfully:

    Quick Response is Impressive

    Everyone wants to seek attention and when you provide a quick response to your customer’s issues, they feel valued. However, if they are facing complex issues, it may take time to resolve, but you need to communicate with them in the first place. Resolving their queries and constantly taking note of their issues will help develop better customer relations. This will help your business eventually grow as customers will rely on you. 

    Define Your Brand Values 

    Defining your brand is another way to keep your customers informed about your business and values. You might be representing a high-brand-value product, but until you create an identity in the market, it’s not worthwhile. So, focus on communicating with your customers through compelling advertisement strategies and try to relate to their needs and demands. It will help you reach the target clients easily and create a potential customer base.

    Provide Personalized Offerings

    Personalizing your contacts with clients is one of the best methods to fully immerse them in the brand experience. You can offer them customized discounts and deals as per their needs. This way you can personalize the customer touchpoints to every client’s preferences, demands, and behaviors. All you need to do is use the customer data and create discounts and offers based on their search intent or past purchasing habits.

    Map Your Customer’s Journey

    Another way to improve your customer experience is by mapping the client’s journey. It includes four stages: awareness, consideration, decision-making, and retention. Once you are aware of where your customer stands, you can work in the required fields to provide them with a better experience. So, this way you can visualize how your customers are interacting with your brand and find the areas that need to be improved.

    Introduce the Latest Trends and Technology

    A successful eCommerce business is the result of the latest technology. You need to gather data on how to create an immersive customer experience through technology and software developments. Many AI and machine learning algorithms allow creating of appealing customer profiles by fetching unique data with the help of tools. Moreover, emerging technologies like Augmented reality and Virtual Reality are also working hand in hand to improve immersive experiences. 

    Ask for Their Feedback

    Don’t miss taking down feedback from your clients. Their feedback will help you improve your service and enhance the customer’s experience as well. There may be negative feedback, but don’t get demotivated. Put more effort into improving your customer service and proceed towards a successful business.

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    Final Word

    The mentioned strategies will help you implement an immersive client experience and take your business to the heights of success. Always focus on maintaining active communication with your clients to build successful customer relationships. For professional advice and assistance to improve your human resource management and derive maximum utility, consider contacting us. You can also go through our blogs to gather better knowledge on customer handling and organizational management.

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    Reference Links:

    https://premio.io/blog/customer-experience-for-ecommerce-store/

    https://www.helpscout.com/blog/good-customer-service/

    https://influencermarketinghub.com/immersive-customer-experience/

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    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.

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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

  • Why Does Mental Health in the Workplace Matter? – 5 Reasons to Know

    Why Does Mental Health in the Workplace Matter? – 5 Reasons to Know

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    Are your employees feeling stressed from work pressure? Do you know how their mental health can affect the company’s overall production?

    The workplace environment has been a crucial factor in determining an employee’s mental condition. If employees face unsupportive behavior within the organization, it directly impacts their contribution. This in turn affects the employee’s performance and work efficiency. Continue reading this blog to know how mental well-being can be beneficial for an employee and the organization.

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    Top 5 Reasons Why You Must Have Sound Mental Health in Workplaces

    Your work environment should be friendly and healthy to ensure your employee’s mental well-being. Here are the best reasons why it is important:

    A Sound Mind Can Enhance Productivity

    An employee with sound mental health can always add value to the organization. A happy and healthy workforce can help in uplifting the business with excellent skills. However, it is the responsibility of the employer to ensure a healthy and supportive work environment for the employees. 

    When the mental health of employees is stable it increases their productivity. As per research, companies that prioritize their employee’s mental well-being have outperformed by 10% more than others. 

    To Release Work Stress

    Work pressure can often burden employees with immense stress. With sound mental health, one can release the extra stress and approach things positively. Several workplaces provide relaxation activities and make a separate relaxation space for mid-day breaks. 

    As per the health and safety legislation, employers should ensure that each employee is having a safe, healthy, and relaxing working environment irrespective of mental health. Thus, a responsible employer will always care for their employee’s well-being and focus on releasing their stress through engaging in activities.

    Boosts Decision Making Capabilities

    An unstable mind cannot make the right decisions as it is distracted by multiple thoughts. Thus, it will affect the working abilities of employees and their performance as well. Promoting a healthy work environment will enhance employee engagement and help in developing their skills and capabilities. With a sound mind, one can develop strategic business plans and help in boosting the organization’s growth. 

    Employers can help in improving the worker’s mental health by appreciating and recognizing them for their performances. Moreover, they can offer benefits like flexible working hours, referral programs, etc. 

    Consistency at Workplace

    If employees find their workplace healthy and supportive, they will not opt for frequent job switches. It helps both the employer and employees in maintaining consistency at the workplace. Moreover, it will ensure the goodwill of a company and also improve the employee’s work efficiency.

    Thus, maintaining a healthy work environment facilitates the development of a company. In other words, both the employee and employer can flourish individually when the work environment is mentally supportive and cooperative. 

    Poor Mental Health Can be Fatal

    When employees face immense work pressure and stress it can affect them mentally and lead them to depression. If not taken care of on time depression can be life-threatening. Multiple instances have been found where employees who are unable to handle the work pressure have been mentally distressed. 

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    Final Word 

    It is the responsibility of an employer to ensure every employee is having a safe and healthy work life. With less stress and improved facility, employees can focus more on their work and enhance productivity. If you are facing such issues maintaining workflow balance in your workplace, you can contact us for professional assistance. You can further read our other blogs to know more about workplace management, employee handling, and more. 

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    Reference Links:

    https://www.iod.com/resources/blog/mental-health/five-reasons-why-mental-health-in-the-workplace-matters/

    https://www.betterup.com/blog/mental-health-in-the-workplace

    https://ca.godaddy.com/blog/why-mental-health-in-the-workplace-matters/?gclid=CjwKCAiAr4GgBhBFEiwAgwORrY8y7J9KBbqbrqhfqqtb3ogNxHrgDbvVgK8aXG_uFI9bIG7Y9polgBoCNZsQAvD_BwE

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    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.

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  • How to Leverage Technology in Your Business in 2023: Guide

    How to Leverage Technology in Your Business in 2023: Guide

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    In 2023, we are experiencing a new altered business paradigm which is driven by Artificial Intelligence and technology. So, here even after integrating digital solutions if businesses are unable to implement them in the right area the overall purpose will churn out to be ineffective. 

    So, if in doubt about how to leverage technology in your business, here are a few effective ways to do so. Navigate through this piece to have a comprehensive understanding.

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    5 Ways to Leverage Technology in Business

    Seize opportunities by leveraging modern technology in the following ways:

    Automate Repetitive Process

    When working with humans there is a possibility of making mistakes like when updating tasks or filling in details. Here, one can reduce the risk of error by automating repetitive tasks. This not only improves the business’s productivity but workers are able to concentrate on their daily tasks better.

    Protect the System Through Cyber Security Apps

    With the drastic development in the IT sector, the chances of data getting hacked or leaked have also increased. Thus leverage the cyber security technology to protect sensitive business tools, client data and collaboration apps. Some applications to mention here are reliable VPNs, firewalls, anti-malware software, and password manager.

    Switch to Cloud

    Migrating every data from desktop, mobile or other systems to the cloud allows workers to access the required data from anywhere and at any time. They only need an internet connection to access the same. As a result, business is able to foster better collaboration and scale up their operations.

    Track Using Project Management Software

    Project Management Software allows the company to track the progress of the various team working under a manager. It gives clear visibility of the progress of each individual which further help to set timelines. As a result, one can deliver large projects on time. Also, if there is any clarification required, a manager will know who is accountable.

    Integrate Data Visualization Tool

    Data can be hard to interpret but with the help of a data visualization tool, it is easy to read raw data to extract patterns and insights. For example, a manufacturing company can read the purchase orders of people of a particular location to estimate what are their preferred clothing style and manufacture more of that. 

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    What are the Benefits of Leveraging Technology in Business?

    After taking the above measures a company will be able to reap the following benefits:

    Better Decision Making

    Data mining done on a real-time basis with the help of technology helps access more accurate data. This further contributes to company growth and enhancing production.

    Increase Security 

    The cyber security tools will help entrepreneurs protect their organizations from nefarious cyber profiteers and hackers. As the cyber-threat landscape is evolving digital protection systems are continuously improving. Thus, business is able to prevent unforeseen incidents.

    Increased Profit

    Integrating smart technology is the key to earning better profits for increased business growth. Automating business processes like customer service, accounting, marketing and communication allow the entire team to make strategies and contribute to business enhancement.

    Agility

    Now that new trends and innovations are evolving continuously one of the primary requirements for a business to prosper is to be agile. Leveraging technology help here by giving companies a competitive edge. Business models having traits of agility are seen to generate more revenue than non-agile counterparts.

    From the above discussion, we can gather there are various technology like task automating software, data visualization tool and others that we can integrate. It will not only help reduce human mistakes but make the entire management process seamless. 

    Here, if further looking for simplified human resource management tasks you can contact us. We can help you with payroll, risk management and worker compensation tasks. Also, for more such knowledge follow our blog section. 

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    Reference Links:

    https://itsupportguys.com/it-blog/leverage-technology-for-business-growth/

    https://www.entrepreneur.com/growing-a-business/to-succeed-in-2023-consider-these-10-business-strategies/428309

    https://slack.com/intl/en-in/blog/collaboration/7-ways-to-leverage-technology

    https://www.forbes.com/sites/forbeshumanresourcescouncil/2022/12/29/15-hr-leaders-discuss-practical-ways-to-leverage-technology-in-2023/?sh=454acaf62439

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    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.

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  • 5 Key Things to Know About Before Moving Your Business to South Florida

    5 Key Things to Know About Before Moving Your Business to South Florida

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    Are you planning to move your business to South Florida? Well, the migration of many large multinational companies to South Florida is full-on in play due to the adoption of the new work-from-home policy. On top of this, the affordable tax and friendly business environment serve as a real magnet. 

    Companies are no longer tied to larger hubs like New York City and Silicon Valley to conduct their business. They can work in the new technology hotspot while enjoying its sunny climate. However, to ensure you are making an informed decision, know about the 5 important things about Florida!

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    Important Things to Consider Before Moving the Business to South Florida?

    Over the last decade, Florida has noticed a high influx of population, which doubles the overall growth rate of the US population. Moreover, after the emergence of the work-from-home policy now, business and their employees understand it is possible to carry out their work virtually from any part of the world.

    So, companies to enjoy the business advantage of South Florida are moving their operation. However, before doing so, consider these 5 things covering the positives and negatives of locating a business in South Florida.

    • Welcoming Business Environment

    South Florida promotes a welcoming business environment. Their tax rates are highly reasonable, including 5.5% corporate income tax, no estate/ inheritance/ gift tax, and no personal income tax. Additionally, there are multiple tourist cities and centers in the state, thus having enough opportunity for earning business revenue. 

    Apart from this, the low cost of living in Florida increases your spending power per dollar, thus boosting your sale due to low goods and service costs. Not to mention, South Florida has amazing weather, i.e., warm and appealing around the year.

    • Affordable Office Rent

    Even though there has been a huge influx of companies in the state, it has still managed to keep the rent for commercial and industrial establishments less. Thus, companies are able to save millions of dollars they would have spent on rent.

    • Increasing Corporate Presence

    Florida is building itself into a business powerhouse by giving companies the required comfort to move and limiting the potential risks. Corporations are also interested in moving to this state because of easy access to talent. 

    This state hosts several top universities and provides an abundant skilled workforce and an affordable cost of living. On top of this, pioneering companies showing successful relocation rate is giving businesses the required confidence.

    • Possible Isolation

    Many established business centers fear losing the competitive edge and the amount of productivity over the rate race for sunny Florida. However, an important thing to consider here is even when they relocate, they still maintain their presence in the origin city.

    • Culture Shock

    There is a possibility of experiencing a dramatic difference in the behavior and practice of the new state. Also, the politics and standard of politeness may affect the working environment for a while. However, with patience, one will be able to overcome it easily. 

    The traffic in this state has worsened by increased tourism and the abundance of stadiums or sports arenas. Some also complain that the weather is humid and unpredictable, but it solely depends on one’s comfort. 

    Overall, South Florida has many things to offer to businesses that can help them flourish. This is why Florida is becoming a hotspot for financial success. However, one must always be aware of its attached downsides. 

    So, read this piece and if you plan to move your business to South Florida, take the help of an off-site HR team. It will ensure a smooth transition. Contact us for professional assistance. We can help overcome your every business challenge. Also, check out our blogs if you are interested in similar topics. 

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    Reference Links:

    https://soooboca.com/moving-your-business-to-boca-raton/

    https://stantoniplaw.com/moving-business-to-florida/?utm_source=rss&utm_medium=rss&utm_campaign=moving-business-to-florida

    https://www.ioptimizerealty.com/blog/pros-cons-business-move-to-florida

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    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.

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  • Key Pointers to Keep in Mind While Creating the Perfect Employee Handbook for Small Businesses

    Key Pointers to Keep in Mind While Creating the Perfect Employee Handbook for Small Businesses

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    Regardless of the size of a small business, the owner would have definitely developed workplace procedures, expectations, and policies either informally or formally. The employees must be aware and have a proper understanding of these to help run the company more effectively. Also, that goes a long way in ensuring that the organization does not break state or federal laws. 

    An employee handbook is basically a compilation of an organization’s protocols and policies and employees’ legal rights and obligations. Having this handbook helps communicate responsibilities and rules to employees. 

    Now, let’s dive in to gain insight into the various vital aspects of an employee handbook.

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    How to Create the Perfect Employee Handbook for Small Businesses?

    Illustrated below are four steps that business owners can take to start the procedure of creating an employee handbook.

    • Begin with Values and Culture

    Employee policies can include dress code, performance review procedure, attendance rules, etc. For business owners, thinking about the organization’s values and culture is a good place to begin when one is pondering over the employee policies.

    Small business owners must consider their personal values and what they are willing to emphasize. They should also consider how to form a culture and value system that will help motivate the employees to deliver their best performance and work with the organization long-term.

    It will indeed prove to be sensible if one drafts a mission statement prior to creating the employee procedures and policies.

    • Create the Policies

    After clearly identifying the values, business owners can think about developing policies that are necessary for the organization’s functioning and will be embraced by employees. 

    • Be Aware of Applicable Laws

    An employee handbook is not a contract with the organization’s employees. But it does set expectations. Therefore, business owners should follow local, federal, and state laws while preparing some parts of this handbook. One can visit the state government’s web portal for a detailed description of the state’s laws.

    • Look into the Employee Handbook of Other Organizations

    Business owners can look through employee handbooks and the policies of other organizations. But they must ensure that they don’t copy them entirely. Looking into them would plan out the procedures and policies. One can get access to a sample employee handbook via the internet itself.

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    Must-includes in an Employee Handbook

    Given below are the essential elements that business owners must include in an employee handbook:

    • Workplace Security and Safety

    To keep any potential litigation or confusion away, business owners must define the steps that they must take to keep the workplace (non-physical and physical) safe.

    • Social Media and Digital Conduct Policy

    Business owners must define the way employees can (or cannot) represent and talk about the organization on social media.

    • Company Vision, Overview, Values, and Mission

    Entrepreneurs should define the organization’s vision, purpose, and mission so that employees can be completely clear about and aligned with the firm’s values.

    • Perks, Compensation, and Benefits 

    Employees will probably navigate to this section first as it’s a crowd favorite. Regarding compensation, business owners must define how employees are paid, overtime policy, frequency and time of payment, and alternative compensation. For benefits, entrepreneurs must provide an overview of what they offer in terms of life insurance, retirement plans, etc.

    • Code of conduct

    Some areas to cover within the code of conduct are customer privacy and data management, ethical policies and standards, conflict resolution policy, rest periods, meal breaks, etc.

    Besides these, employers must also include equal opportunity and anti-discrimination policies, medical and family leave policies, hours of operation, Paid Time Off (PTO) and schedule, conflicts of interest and nondisclosure, and vital disclaimers.

    Thus, business owners must keep in mind the points mentioned above while creating their employee handbooks. They must also note that if their company lacks proper infrastructure related to risk management, payroll, or HR, they can face problems related to creating the employee handbook. In that case, they can opt for us to manage these important areas. Further, they can go through our blogs if they are willing to know more about what we do.

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    Reference Links:

    https://sba.thehartford.com/managing-employees/hiring/employee-handbook-guide/

    https://www.score.org/blog/how-create-employee-handbook-your-small-business-ultimate-guide

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  • Discover the Benefits of Appointing a PEO Broker: Bet It Will Blow Your Mind!

    Discover the Benefits of Appointing a PEO Broker: Bet It Will Blow Your Mind!

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    When it comes to hiring a PEO for your organization, entrepreneurs look for the assistance of a PEO broker for a reason. Given the fact that not every PEO fits all companies, they should match the business’ preferences and requirements. However, other things like low service costs, health insurance, and employee benefits must also be kept in mind. 

    Don’t you think it can take days to fulfill all requirements through one PEO? 

    So, companies need the help of an experienced and knowledgeable PEO broker. More benefits of having a PEO broker in your company are discussed below. Read along!

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    1. Saves You Time

    There are generally three categories from which you have to choose your preferred PEO, i.e., Regional, National, and Niche PEO. So, you need to conduct in-depth research on what type of PEO you need and whether the providers offer excellent service? 

    But by hiring a PEO broker, your effort cuts to half. This is because they are already related to a network of good PEO service providers. In addition, by letting the broker know your business requirements, they can easily identify which PEO can suit your needs. This helps you save a lot of time. 

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    2. Employee Health Benefits Management

    One of the common windows to all business problems is employee benefit terms. Unfortunately, these are usually written in technical and complex languages, which are hard to interpret by people with little knowledge. So, by hiring a professional PEO broker, you get the correct interpretation. Not only this, but they keep themselves updated on the current health benefit programs. So, they ensure you, as a business owner, are not at a loss. 

    However, a PEO broker is not only limited to solving health benefits problems. They can provide multiple services and help companies save on their overall cost. 

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    3. Eliminates Hassle Involved in Quoting Process

    Isn’t it daunting when tons of quotes are lying on your desk, and you have to go through them all to find the one? Now you can skip the process altogether!

    The PEO broker you hire will take care of the quotes offered by different service providers. Moreover, they even match the quote to identify if it needs the client’s terms and custom design it if it doesn’t. 

    They also look after the document verification process and consult to maintain a relationship throughout their partnership. So, you have the peace of mind that there is no mistake resulting from miscommunication. 

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    4. Reduced Paperwork

    None can deny that when going on board with someone, there is a lot of paperwork involved to gather essential data. It includes insurance policies, employee salaries, worker’s compensation history, health care requirements, and more. 

    On top of this, when approaching multiple PEOs to find the right one, you have to present them in their unique proposal system. Sounds way too tedious?

    In such times, a PEO broker comes in aid as you have to submit the documents only once. After that, the professionals will evaluate your company’s data and give you a quotation of only those companies that matches your profile. 

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    5. Ready With Expert Advice

    Small or medium-scale companies are all burdened with meeting legal compliance, performing administrative tasks, income-generating tasks, and others. In between, they do not usually find time to keep up with the growing management system and scalability. 

    Here, having a PEO broker works wonders. The broker can give you expert advice whenever you want. PEO brokers always have the correct answers to your compliance-related issues and complex administrative situations. 

    So, if you are one such company looking for PEOs that can handle your payroll, human resource work, or provide worker compensation service, then contact us directly. However, if you are unsure about the workings of PEO and want to know more about them to make an informed decision, then feel free to visit our blog section. 

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    Reference Links:

    https://theoutsourcepros.com/benefits-of-using-a-peo-broker/

    https://www.benefitspro.com/2018/08/27/the-benefits-of-a-broker-only-peo-model/?slreturn=20220115054253

    https://www.linkedin.com/pulse/6-reasons-why-you-need-peo-consultant-broker-now-shraga-jacobowitz

    https://goodmenproject.com/business-ethics-2/does-your-company-need-a-peo-broker-and-why/

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  • 8 Major HR and Payroll Concerns for Remote Employees

    8 Major HR and Payroll Concerns for Remote Employees

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    The human resources department is undoubtedly one of the most important in any organization. Ever since the coronavirus outbreak, the entire corporate world has shifted to a work from a home model, prompting the necessity for every company to have a robust HR department in place.

    This pandemic has shown us how organizations work effectively, even in a virtual setup. Moreover, as per sources, certain reports show that employee productivity may also have increased in this remote work model.

    With more flexibility nowadays, both employees and employers agree to the increased productivity in this new model. Therefore, this remote work model is likely to stay even after this pandemic fades away.

    However, along with its benefits, this model also created a handful of issues and inefficiencies. If your business has remote employees, you must have faced some or all of these issues yourself. No matter how small or large your business is, these are some serious HR and payroll concerns across all firms.

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    Here, we have compiled all the major issues.

    1) Employee Engagement:

    Employee engagement can either make or break your business. Recent studies show that organizations with high employee engagement make twice the revenue compared to organizations with low employee engagement.

    As a result, HRs have a tough time keeping remote employees engaged.

    2) Communication:

    For remote employees, effective communication is difficult without the appropriate technology. As a result, issues arise when emails and phone calls go unanswered.

    3) Training:

    Since traditional onboarding and training procedures have become outdated now, their virtual counterparts also give birth to various inconsistencies and issues.

    4) Acquiring and Retaining Talent:

    Nowadays, employees properly understand how much value they add to your business.

    So, if your business lacks new technology, your employees will move on to another organization. Therefore, even after mitigating troubles in virtual talent acquisition, HRs face the challenge of retaining talented employees in this remote environment.

    5) Cost Reduction:

    In a virtual setup, proper cost reduction becomes nearly impossible without appropriate employee supervision. You may have to repeat the same process for different employees. This gives birth to process redundancies as well as additional costs.

    6) Human Error:

    As an employer, you already know that manually doing things invites human errors. So, without the proper technology, human errors of remote employees pose a serious challenge to the HR department. 

    7) Employee-Service Provision:

    Without the right technology, HRs cannot provide any effective employee self-service. It includes access to payroll, training materials, benefits, and other resources. This further leads to employee resentment.

    8) Accessibility:

    As an employer, you know that accessibility goes far beyond employee self-service. You may provide ESS tools via a web portal, but it still creates an issue for the HR department.

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    PEO’s Role in Human Resources

    A Professional Employer Organization (PEO) leases employees to employers. It enters a joint-employment relationship with the employer that allows the PEO to share several employee-related responsibilities.

    Likewise, this arrangement also helps employers outsource their various human resource functions, such as payroll administration, compensation, employee benefits, and employment taxes.

    PEOs can take certain responsibilities from HR like:

    • Payroll administration
    • Benefits administration
    • Recruitment
    • Family and Medical Leave Act administration
    • Drug testing programs
    • Compliance assistance
    • Workers’ compensation administration
    • Unemployment administration

    As per the agreement with the PEO, employers can outsource these HR functions. However, if you are a small employer, you may not have the expertise or the infrastructure for these functions. Also, you may not have the time or resources to focus on intricate procedures like HRIS and payroll.

    So, if you outsource the desired services, the PEO can directly look into it. In that case, the PEO will handle the recruitment, benefits payroll administration, and all the employee queries related to them. Thereby, addressing the HR and payroll concerns mentioned above becomes much easier!

    Have we piqued your interest in the perks of outsourcing PEO services?

    Feel free to go through our blogs and talk to us now to appoint the best in this industry.

     

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    Reference links:

    https://buildfire.com/hr-remote-employee-challenges/

    https://www.flexjobs.com/employer-blog/remote-work-considerations-for-human-resources/

    https://www.inc.com/rebecca-hinds/the-5-hybrid-remote-works-models-for-your-business.html#:~:text=A%20remote%2Dfirst%20model%20usually,first%20and%20being%20remote%2Dfriendly.

    https://www.nytimes.com/2020/06/23/business/working-from-home-productivity.html

    https://laura-hansen.com/10-compelling-statistics-employee-engagement/

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    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.

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