CoAdvantage- Wage growth since the start of the COVID-19 pandemic has been strange, to say the least. Wages grew at historic rates over 2020 – between 2019 and 2020, wages grew by 6.9% for the typical worker, according to the Economic Policy Institute – but that figure may be a little misleading. Most of the[…]
CoAdvantage- Payroll is challenging, difficult, tedious, and – above all else – time-consuming. But getting payroll service right is critical. That’s especially true at small and mid-size companies where executives must wear many hats; owners and managers only have so much time in the day. The Bank Of America Business Advantage Spring 2019 Small Business[…]
CoAdvantage- As one of the most essential and universal employment-related activities, payroll produces a significant amount of documentation, records, and forms. What do employers need to do with this information? Here are the basics of payroll recordkeeping. What payroll records need to be stored? In general, any documentation that relates to payroll calculations or processing[…]
CoAdvantage- In just a matter of months, the U.S. federal government has passed trillions of dollars’ worth of relief packages aimed at helping citizens and businesses to better navigate the aftermath of the COVID-19 pandemic. So much has happened so fast, in fact, that it can be confusing and frustrating trying to keep up. Here’s[…]
CoAdvantage- For many employers, the holidays are their busiest time of the year, and employee workloads can increase to meet customer demands. At the same time, more employees than normal will be requesting time off to celebrate Christmas, New Year’s, and other seasonal holidays. Altogether, employers may find themselves requesting or even mandating overtime from[…]
CoAdvantage- Payroll is vital to any business, and getting payroll right is critical to employee retention. According to The Workforce Institute at Kronos, half (49%) of American workers would start looking for a new job after only two issues with their paycheck. That may be because 87% of American workers live paycheck to paycheck; they[…]
1: Ignoring your brand as an employer. A “company brand” is its reputation and public image in the minds of its customers. A strong, positive brand can encourage customer loyalty and engagement as well as attract new customers. But many businesses, especially smaller ones, fail to think about their “employer brand,” or their reputation and[…]
When business owners partner with a professional employer organization (PEO), they can focus on business building while trusting the PEO to handle certain HR and employee issues. To that end, a PEO’s service model can extend across the entire employee lifecycle – from before they even start until after they’ve left. Here’s how. 1: Recruitment[…]
Focusing on Growth and Value Over the past several years, the Professional Employer Organization (PEO) industry has focused intensively on value generation. That’s what employers want; for example, 80% of employers indicate that their recruitment strategy should emphasize value creation over cost savings. Four out of five recruiters are aiming for their work to have[…]
CoAdvantage- Too many organizations are too disorganized when it comes to compensation strategy. They make compensation-related decisions in a haphazard manner that (1) discounts applicable laws and regulations, (2) obscures whether their approach to compensation generates appropriate ROI, and (3) makes compensation and payroll management unnecessarily difficult. This kind of ad hoc approach to compensation[…]
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