It is often expressed that “employees are the lifeblood of every organization.” Ann M. Mulcahy, former CEO and chairwoman of Xerox Corporation, said, “Employees are a company’s greatest asset—they’re your competitive advantage. You want to attract and retain the best; provide them with encouragement, and stimulus, and make them feel that they are an integral part…
It has been said that people are a business’s most important asset. Given that truth, it makes absolute sense to handle your employee payroll in the best way possible. The key objectives for every payroll management system should be to process payroll accurately, on time, and in compliance with all laws and regulations. Why Effective Payroll Management is Vital …
No business owner should want to have an employee lawsuit to deal with. But unfortunately, we live in a lawsuit-oriented age and lawsuits are sometimes unavoidable, even with good business practices. Employees sue for varying reasons, especially when they get fired. In every case, a lawsuit can be disruptive, time-consuming, costly, and can negatively affect company…
Severance pay is a fact of life in business. According to the Society for Human Resource Management (SHRM), about 97 percent of U.S. businesses report that they offer some form of severance to their employees. What is Severance Pay Severance pay is compensation offered to employees who generally are being let go or laid off through no fault of…
Every company needs employees. But more than that, every company needs skilled employees, the right number of employees, and happy employees. The foundation of those things is a good payroll system that rewards employees properly and keeps them happy. Managing employees is one of the most important elements of operating a business successfully and one…
It is important for individuals to know that work isn’t just drudgery and only a paycheck. In fact, as author and leadership expert John C. Maxwell has said, “We were created for meaningful work.” James C. Collins, author of “Good to Great” noted, “For in the end, it is impossible to have a great life…
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…
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