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.
Labor posters are required by law. All businesses that employee at least one employee are required to display current posters that explain federal and state law as it pertains to employees. And this is one area where you don’t want to be non-compliant because it can result in hefty fines. So, you know you need them, now, what are your options?
Consumers and businesses are getting smarter about conservation and doing business “green.” People are actively looking for better options—those that positively affect the environment while also boosting convenience.
It’s critical that business owners know who they are hiring. Part of a thorough screening process is running a background check, which is quickly becoming a common practice.. Having all the facts on potential candidates is not only important to selecting the best person for the job, but it’s also an important factor in protecting your business.
Workers’ Compensation is an important policy to be aware of. Pay-as-you-go workers’ compensation puts the business owner in control by offering a solution based on actual payroll vs. estimated amounts. Learn more in this short video…
Performing an honest self-evaluation is a critical step in deciding if you should start a business. Behind any successful venture is typically someone who has taken the time to do the work up front before jumping into business ownership. A self-evaluation is part of the initial work, and requires you to take a close look at what it will take to start and grow your business at all levels—including time, money, and resources.
When talking to most successful business owners, the word growth brings feelings of joy and optimism. But there are two sides to growth, the good and the bad. Practitioners need to understand that ‘good growth’ can bring greater success and increased revenue. ‘Good growth’ occurs when you are prepared for challenges and react in a positive manner to meet and exceed potential obstacles.
With health care reform comes more stringent rules. Increasing regulations forced upon business owners only makes it harder to operate. Take advantage of experts around you and outsource your payroll to a payroll company that knows the regulations and can keep you in compliance.
Green. Again and again we see the routinely overused buzzword associated with being more environmentally friendly. Besides its place in our vocabulary, are you using green methods throughout your business? Do you know what benefits you are missing out on if you’re not going green?
Owning a business is a dream of many people and a franchise provides that opportunity. To help determine if franchise ownership is right for you, do your research. Talk to franchisees and franchisors. Research what type of business you would like to own, and look at the risk involved.