If you’re like many entrepreneurs, you know what human resources is and you probably know that it’s a responsibility you must take on before hiring your first employee. However, you might not know about all the options there are for managing your HR. Let’s walk through some of these options, outline the advantages and disadvantages of each, and give practical tips on how to decide which option is best for your business.
If you own or run a company that provides professional services, then you probably face specific business challenges that entrepreneurs in other industries may not fully grasp. Here are five HR opportunities that can help your professional services firm succeed.
Modern employees want to work for employers who care for their well-being. An employee assistance program (EAP) is a great employee benefit for giving employees and their family members who are struggling with stress, substance abuse, relationship problems, grief and a host of other personal issues an around-the-clock, confidential resource to get the help they need.
Your employees might be struggling to decide between a health savings account (HSA) or flexible spending account (FSA). The pre-tax dollars deposited into these accounts can be used to pay healthcare costs for medical, dental and vision expenses. The IRS restricts what expenses can be paid for using an HSA or FSA. While both programs are great ways to take advantage of tax savings, they differ in ways that benefit the user, depending on their situation.
Is your company facing a potential employer shared responsibility tax penalty under the Affordable Care Act (ACA)? The ACA requires ALEs to offer health coverage to at least 95% of benefits-eligible employees or potentially pay a tax penalty.
Employers who struggle to communicate their benefits options to their employees may see those same employees failing to select the best options for themselves and their families. These employees won’t appreciate the value of your benefits offering because they may not be getting the benefits they need. Of course, satisfaction with employee benefits, which are a crucial component of your compensation package, can go a long way to overall employee satisfaction, which is key to attracting employees to your company and retaining the ones you have. Here are some tips for communicating more effectively with your employees about their benefits.
Mornings are often full of hope as many entrepreneurs start their work day feeling motivated. However, it’s easy to find ourselves mired in other issues and leaving work at the end of the day feeling deflated and exhausted. While leading a small business can be very rewarding, entrepreneurs should consider ways to be more productive and remain mindful of how they schedule their days to avoid burnout and keep their small business dreams from turning into nightmares. Here are five tips for making every workday effective and productive.
Too many businesses make the mistake of not tracking or using recruitment analytics. Here are some pieces of data you should be collecting as you hire new employees.
With so many demands on your time, it’s easy to be affected by productivity hurdles. Productivity is usually tied to other vital business outcomes, such as employee morale, efficiency and the bottom line. Improving your productivity game can have a positive impact on your overall business success. If you are struggling with becoming more productive in 2018, below are three HR-related productivity hurdles that business owners commonly face and a few solutions that might help you overcome them.