An employee’s wages are more than simple economics. Amy B. Lyman, a 19th-century religious leader stated, “Paying people a fair wage is a sign of respect and acknowledgment of the value of people’s contribution to the business. When people are treated fairly and with respect, they will provide unparalleled levels of support and commitment inside the…
Not every employee is a great employee and not every hiring decision is a great one. That means that virtually every employer will face the necessary but often unpleasant and difficult task of terminating an employee for the good of the organization. However, it is important to approach the process of termination carefully. Failing to…
Payroll is one of the most important responsibilities for business owners. Good payroll practices are essential to keep and motivate employees and to earn their continuing trust. Studies show that employees look forward to payday, even those employees who face no real payday “crunch.” Small business payroll mistakes can wreak havoc on good employee relationships, affecting a…
It has frequently been said that employees are an organization’s greatest asset. Anne M. Mulcahy, former CEO of Xerox Corporation has added to that expression, “You want to attract and retain the best; provide them with encouragement, stimulus, and make them feel that they are an integral part of the company’s mission.” But, the workforce…
Employees are crucial assets for every company. And having employees with the right talents and at the right levels is essential to having a productive, efficient workforce that contributes to a company’s success. But having overstaffed your small business works against your success. The Results of Being Overstaffed When a company is overstaffed, it is paying…
Every employer should want happy employees. As Hendrith Vanlon Smith, Jr., CEO of Mayflower-Plymouth Capital said, “When your employees are happy at work, they do a better job. And when they do a better job, customers feel it. And when customers feel that happiness coming from a company’s employees, it’s like they just wanna spend their money…
Since employees are generally considered to be a company’s most valuable asset, addressing employee turnover should be one of its most important priorities. Employee turnover is the number of employees who leave a company during a specific time period, including those who leave on their own through resignation, retirement, or departure for personal reasons, plus…
Taxes. Sometimes we may grumble about them, but the reality is that they provide funds to keep America functioning. Businesses pay payroll taxes to provide essential services and support to American Citizens including Social Security and Medicare. As a small business owner, it is important to understand payroll taxes, including what needs to be paid…
Every small business owner has many “hats” to wear to keep his/her business functioning properly and profitably. One of those key “hats” is to ensure that payroll is handled well because payroll is truly one of the most important aspects of every business. So, having a well-developed and reliable payroll system should be regarded as essential…
Smart managers know that hiring top talent is critical in today’s business environment. Hiring top talent includes but is much more than finding “a good fit.” It is a light year ahead of grabbing someone that is available simply to fill a slot. In fact, hiring top talent can mean the difference between business success and failure. The Benefits of Hiring Top Talent A focus…
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