Employee compensation and equity compensation can be complex. You want to balance profitability and employee satisfaction not only in salaries but also stock awards. The following are some things to know about granting equity to employees and how to do it properly. What Is An Equity Grant? An equity grant is also known as equity […]
Human Resources
Outplacement Assistance Could Save Your Reputation–Even During Layoffs
When you’re in the middle of the layoffs, the last thing you want to do is spend more money, right? The whole point of layoffs is to cut costs, isn’t it? But the cost of outplacement assistance could be well worth it in terms of controlling the damage to your brand and reputation that layoffs […]
What is an effective way of motivating employees to understand that they are not cost effective until they generate 5 times their pay?
While it is important for workers to experience transparency in their company and understand where the company is and where they need to be, you also do not want to attempt to motivate employees, especially sales team employees, through fear of losing their job if they don’t make more sales.
Where can we get started if we wanted to buy or create an Employee Handbook?
From a general business perspective, the number of employees, type and number of employee fringe benefit programs, and other factors influence the need for an employee manual.
Can we dock employees pay for poor work quality?
As a general rule, the Federal Fair Labor Standards Act, or FLSA, prohibits docking the pay of employees (nonexempt or exempt) for poor quality work or work resulting in rework. Nonexempt employees are employees who are subject to the FLSA’s minimum wage and overtime pay requirements and are typically paid on an hourly basis.
What are the down sides about using a PEO (Professional Employer Organization)?
Disadvantages of Using Professional Employer Organizations for Staffing: Many small businesses have been utilizing Professional Employer Organizations (PEOs) for insurance savings and other staffing cost management solutions.
We are a boutique meal delivery service and are looking to hire drivers as independent contractors, what should a contract contain?
It is important to note that a worker’s classification as an employee or an independent contractor is not an arbitrary election by an employer or worker but is based on the worker’s job and the control the party who engages the worker exerts over how the worker performs that job.
Would it be better as the owner of a sole proprietorship to invest in a 401k versus a simple IRA?
As a general rule, a 401(k) plan allows for much larger annual contributions overall and larger contributions at lower levels of income than a SIMPLE IRA plan which can make a 401(k) plan more appealing to both businesses and their employees.
What are the compliance issues & agencies that a small business has to deal with at the state & federal level?
Federal and state labor laws are very complex, and there is no easy summary of non-compliance and penalties. You can obtain considerable state and federal labor law information by searching for your particular state.
What are the requirements for independent contractors (1099 workers)?
Independent contractors pay their own payroll taxes and insurances, including workers’ compensation, and are not covered by many labor laws, so the financial and administrative benefits of having a workforce composed of independent contractors can be significant.
