News from the Vault - January 2025 Payroll Vault Newsletter
Check out our January News from the Vault Newsletter!
Check out our January News from the Vault Newsletter!
News from the Vault - January 2025 Payroll Vault Newsletter
Creating and cementing a corporate culture that really attracts great employees, retains them, and develops them into all-stars doesn’t always happen organically with every company. The corporate culture will ultimately reflect the owner or leader’s ideals or persona. If you feel that you may need or even want a stronger, positive, more collective culture in your office, there are a few items you can address to help you make the transition.
To achieve your dream, you must build integrity into your product, your processes, your customer relations, and everything about your business. Everything from the quality of your products, to how you treat your employees, to how you treat your customers has to be first class.
As a business owner, you may hire both W-2 employees and 1099 independent contractors. If you are like many owners, you don’t always know how to classify workers- and this can lead to compliance issues. Classifying workers appropriately is critical because employees and contractors differ greatly in terms of taxes paid, withholding requirements, workers compensation, benefits, payroll tax filings, and more.
Punch clocks and other outdated time tracking options should be a thing of the past. Save money by switching to an automated time-keeping solution. Watch the video below to learn more.
Whether or not you enter an industry with which you are familiar, you need to confirm that you are suited to owning a business. Just because you want to become a business owner does not mean it is a good idea. Plenty of small businesses fail because the owner does not have the skills required for owning a business.
In today’s global society, digital marketing continues to grow and connect the world in ways that even just 10 years ago wasn’t possible. Social networks reign high in conjunction with digital marketing messages being stamped into our brains sometimes even subconsciously. People are connecting at high rates and the world is continually becoming more flat.
Among the various roles that ICE (US Immigration and Customs Enforcement) fulfills is to identify and remove threats to security in terms of illegal economic activities. In layman’s terms, this equates to controlling unauthorized workers in the US. In 2009, ICE collected roughly $1M in fines, and in 2013 that number rose to more than $15M, and this is a trend that will only continue to grow.
Want to make the phone ring with prospects calling you rather than you calling them? Create a Referral Partner Network for a solid foundation to exponentially grow your business.
A surefire way to build your credibility, professional relationships, and network is to be a Giver. This means that you are a resource for other professionals and that you help to refer and connect people from your network to other people’s network.
With all of the changing regulations, reporting, compliance issues, and especially the Affordable Care Act, payroll for a business owner is more complex than they know. The practices of the do-it-yourself entrepreneur that is trying to save a few dollars, remain in the driver seat of their business, and cut their own payroll checks for their employees are costing them more money and time than they really know.
Time management for business professionals also means needing to know how to be time-smart for scheduling meetings, especially for the “one-on-one get to know you” and “learn about your business meetings.”
We are proud to announce that Payroll Vault was named one of the top franchises in North America by Franchise Business Review. Best of all, the Payroll Vault Franchise team earned this recognition as a direct result of high satisfaction ratings from our loyal base of franchisees. Only 200 franchise companies – and just five in the financial services industry – earned this highly coveted honor.
Sean Manning, co-author of the award-winning book Six Steps to Small Business Success, believes there is a better way to manage and grow a business in 2015 by breaking away from traditional methods. Here are some key points to think about for putting strategy into your business in the New Year.
Web 2.0, social media, and connecting with others online. All the technology right at your finger tips does not replace meeting people face-to-face, especially in the business world. Utilizing networking through various event, associations, and organizations can put you in front of powerful connectors or prospects for your business that will yield REAL results.
It can be said a partnership is a bit like a marriage.You must trust, respect, and have the commitment to work together for a common goal. It is also common to hear that a partnership will never last, which is true because we will either outlive the business or the business will outlive us. Here are some pointers on making a business partnership last:
Putting your own handbook in place or simply downloading a handbook template from the web can get you into trouble. Make sure you consult a Human Resources expert before you put something together yourself. Watch the video below to learn more.
Can your clients and prospective clients tell what kind of relationship they will have with your business based merely on the culture you’ve created? That is, the behavior of your employees, the “feel” of doing business with you, and everything else that makes up a business’s culture. More often than not, the answer is yes.
Your business is your baby, and if you are like most business owners, you started it with passion. Unfortunately, also like most owners, that passion tends to get lost somewhere along the way, usually about the time you find yourself mired down in complex administrative work…like payroll.
Successful business people use the tools around them and educate themselves to grow their business.
Automated time tracking services are geared toward providing highly accurate, real-time reporting and monitoring of employee work hours. This level of advanced technology has not existed for very long. Most employers, especially larger companies, use some form of digital time clock. However, for smaller and even medium-sized businesses, this is not the standard. But, it certainly should be.
There are a lot of processes going on behind a business than the actual business itself. One of these is hiring and what you need for a new hire. Payroll Vault has a new hire packet to offer assistance in guiding new business owners through the process of hiring employees. Watch the video below to learn more.
Many employers don’t take the time to evaluate their payroll system on a regular basis, which can result in using archaic methods (like paper time cards) that end up costing more in time and money. To ensure that your payroll process is the most cost- and time-efficient, evaluate your current process against the following payroll best practices.
