Accelerating trends to outsource payroll and advisory services are continuing, and unlikely to slow down. Companies are swiftly realizing that outsourcing these services is creating enormous savings and improving efficiencies. Time is money! Though saving time and money is the core motivation for companies to move to an outsourced solution, they’re not the only motivating factors. Outsourcing is…
It happened; Colorado voters passed Amendment 70. It was close at almost a 50/50 split. The changes are scheduled to go into effect January 1, 2017 and will incrementally increase minimum wage annually $0.90 until it caps in 2020 at $12.00/hour. There were varying opinions and concerns from business owners about how this will affect their pricing structure, buying power, and their ability to keep …
It’s that time of year again. The holidays are here and that also means gifts, family time, and of course, office holiday parties. Regardless if you’re a rookie or veteran, going to a holiday party leaves a lot of room for error, especially when alcohol, your colleagues and superiors are involved.
On November 22, a federal judge in Texas, District Court Judge Mazzant blocked the Department of Labor’s Overtime Rule Change from taking effect on the proposed date of December 1. The judge agreed with arguments posed from states and business groups and issued an ’11th hour’ injunction that prevents the rule from being implemented on December 1.
There are numerous payroll providers on the market. How are you choosing the best fit for your company? Are you now looking to grow? Is price your number one priority? Is your concern quality of service? By answering the following questions, finding the best fit is easy. Here is a brief list of a few items to evaluate:
If you own a small to large business, it’s easy to feel overwhelmed when you’re in charge of everything from hiring new employees to timekeeping and payroll services. There’s no doubt that payroll is one of the most important aspects of your company, and if you’re currently struggling trying to handle all of the payroll functions on your own
November is about more than just football and gorging yourself on delicious eats your family has prepared. Thanksgiving is a time to reflect on and be thankful for all of the great experiences you’ve had throughout the year, for the phenomenal people you know and love socially and professionally, and to give back to those that are less fortunate. Reflection brings refreshed perspective.
New overtime rules affecting millions of American workers are slated to take effect later this year.
Paperless, digital, and instantaneous. This describes the modern day way in which we all communicate. In the world of digital communication, email is standard. With email also comes basic criteria for communicating effectively. A few of these are: Proper spelling and grammar, manners, addressing the person properly, a polite close to your letter, and your signature block.
At Payroll Vault, many of our clients are young business owners looking to find appropriate applicants for their available job positions. While we have our own recruitment strategy when it comes to choosing the most qualified applicants for your company, below are a few recruitment tips to remember for entrepreneurs involved in the hiring process.
Raise your hand high if you are a business owner that likes to do your own payroll. Anyone? It can be time intensive, overwhelming, and administrative task-heavy. With the exception of Payroll Vault, because we LOVE payroll, few are likely to say that they enjoy processing payroll for their company over actually running their business. So why are you still doing payroll in house? It’s time to outsource your payroll and get back to your business.
Pay Cards are prepaid debit cards that an employee’s paycheck funds are deposited into. It reduces paper waste, helping companies become greener, and also helps employees who do not use a bank have a safe alternative to carrying a large amount of cash.
Like all good things, summer must come to an end. Vacations are wrapping up, variable work schedules are at an ebb, and work routines are getting back on track. Kids are heading back to school, ready to take on a new year of new challenges and goals, and parents should be doing the same.
The Department of Labor doubled the salary threshold for employees to qualify as exempt. More than 4 million workers are expected to lose their exempt status. Employees covered by the Fair Labor Standards Act (FLSA) will be entitled to overtime pay.
The Department of Labor doubled the salary threshold for employees to qualify as exempt (not entitled to overtime) from $23,000 to more than $47,000 a year. Employees covered by the Fair Labor Standards Act (FLSA) will be entitled to overtime pay. All employers must comply by December 1, 2016.
Does your health impact your work performance? According to studies, healthier employees are more productive in general. Clean eating and moderate exercise create added benefits, not only to one’s overall personal life, but contribute to higher productivity in the workplace as well. Not only does a healthy lifestyle add more energy to all facets of your life, but it can also decrease overall absences from the workplace caused by injury and illness.
The Department of Labor just published revisions to the overtime exemption regulations that are expected to cause more than 4 million workers to lose their exempt status. Department of Labor is more than doubling the minimum weekly salary level for employees to be exempt from FLSA overtime under the “White Collar” exemptions.
In the payroll business, we see many versions of time off policies – it’s rare to have two that are the same. However, one thing we do see with regularity is business owners tying themselves in knots trying to implement a policy that they think is fair for everyone. What they end up doing is creating a lot of work for themselves in the process. Here are some suggestions to keep in mind while creating or revising your time-off policy.
In the business world, your relationship with time can really make a statement about who you are, what your company represents, and is a reflection on the relationship with your company. Being punctual or even early shows that you are a professional who takes business seriously and strives to create a healthy interaction with whomever you interact with.
Working remotely/virtually from either a home office, temporary office, or somewhere outside of your place of business can sound very appealing. You have plenty of time to get work done without distractions from your fellow coworkers, no constant hovering from superiors, and if you feel like it, you can grab your laptop and take off to someplace else- you’re free! But is this particular work style environment fit for everyone?
Changes to the Fair Labor Standards Act are currently set to take place on July 1, 2016. Probably the most prominent part of the bill stipulates that the minimum salary an employee must earn to be considered exempt from FLSA overtime rules is now $50,440 (up from $23,660). Bloomberg BNA is reporting that the final rule is setting the new salary limit at $47,000. Either way, this is quite a change from what the limit was before. To know how this affects you, please review the attached guide for the updated rules.
You have a business to run and we want to give you the opportunity to really focus on your business and your customers without having to worry about cutting checks, stressing over HR issues, or any other assortment of clerical and administrative tasks that can easily overwhelm and consume you.