Inova Payroll Blog

How Workplaces Will Build Resilience Through COVID-19

Posted by Stephanie Rieselman on Apr 30, 2020

 The COVID-19 outbreak has caused a domino effect of unprecedented events to disrupt the global economy – massive layoffs, the plummet of the stock market, interruptions to supply chain and demand, and the closing of "non-essential" businesses – all of which have been defining the new normal for today's world.

As COVID-19 cases continue to grow worldwide, employers and employees alike are scrambling to adapt to the restrictive social distancing protocols and stay-at-home orders. The uncertainty of what the workplace stands to lose – and gain – from the changes brought on by COVID-19 has caused immense levels of stress about returning to work post-pandemic.  

While COVID-19 will inevitably leave its mark on the workplace, employers can use the pandemic as an opportunity to transform current challenges into something positive, to come out better on the other side. Through an idea known as post-traumatic growth (PTG), businesses can move beyond merely accepting the negative impacts of the COVID-19 pandemic, and find the silver linings.

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Topics: Employer Basics, Human Resources

5 Tips for Reassuring Your Employees During a Time of Crisis

Posted by Stephanie Rieselman on Apr 10, 2020

Communication with employees is the foundation of success for any business. It's even more crucial during a crisis.

With so much uncertainty surrounding the present and future impacts of the COVID-19 pandemic, leaders are forced to address issues they never have before. Some are finding that their current internal crisis communication plan needs tailoring to tackle the unique challenges posed by COVID-19. For others, this will be a crash course in crisis communications.

To effectively communicate with employees during difficult times, it's essential to keep employees' psychological wellness in mind by being transparent, empathetic, and responsive. Here are a few tips you can follow to keep workplace morale from sinking, promote productivity, and position your company to be an employer of choice on the other side of the crisis.

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Topics: Employer Basics, Human Resources, Crisis Communications, Employee Communications

How to Onboard New Hires and Boost Retention

Posted by Corie Stark on Feb 12, 2020

Research from the Society for Human Resource Management (SHRM) shows companies that invest in a detailed, effective onboarding program retain 50% more of their new hires than their competitors. Similarly, employees who have a positive onboarding experience are 69% more likely to stay employed at their current company for at least three years. With the unemployment rate reaching new lows, signaling a decrease in potential new hires, it’s more important than ever to invest time in crafting a good onboarding experience.

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Topics: Employer Basics, Human Resources

Understanding 401(k) Audits: Answers to Frequently Asked Questions

Posted by Corie Stark on Oct 8, 2019

When a business reaches a certain number of eligible participants for their 401(k) plan, federal law requires an independent audit of that defined retirement plan. Larger companies are more accustomed to this annual requirement; however, owners and managers of smaller businesses may never have experienced a 401(k) audit or don't know nearly enough about it.

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Topics: Employer Basics, Human Capital Management

6 Payroll Tasks to Complete When an Employee Leaves

Posted by Corie Stark on Sep 9, 2019

No matter the size of your business, or how good your retention rate is, from time to time, an employee resigns in favor of other opportunities. For them, it means a new chapter in their professional life. For you, it means closing the book on their employment with your company.

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Topics: Payroll, Employer Basics

What You Need to Know About Unemployment Taxes

Posted by Corie Stark on Apr 30, 2019

If you prioritized business owners' favorite responsibilities, payroll taxes would likely fall towards the bottom of the list. Unless you have a deep history in payroll processing, it can be difficult to stay on top of all the ins and outs of tax obligations—from Social Security and Medicare to federal and state unemployment taxes and beyond.

But it doesn’t have to be a burden. Here are essential elements to managing one type of employer tax, unemployment insurance, from filing the correct form to being proactive in controlling your tax rate.

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Topics: Payroll, Payroll Basics, Small Business, Employer Basics

Workers' Compensation Insurance

Posted by Kelly Allen on Aug 29, 2018

The idea of compensation for injuries goes back as far as 2050 B.C. in ancient Sumeria.1 Recorded on a clay tablet, the law of Ur instituted distinct payouts for specific injuries, such as a severed foot or nose. Through several millennia, injuries that occurred while performing work for another moved from the worker assuming most of the risk to primarily an employer liability.

Today in the United States, workers’ compensation is a standard type of business insurance and is a requirement for most employers. Each state regulates its own workers’ compensation program, and the federal government manages its own program for federal workers.

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Topics: Employer Basics

These PR Tips Can Help You Reinvent Employee Communications

Posted by Kelly Allen on Nov 20, 2017

If your email notices, wellness campaigns, and employee announcements aren’t gaining traction and getting employees to take action on important items like signing up for benefits, it might be time to change your approach. Consider how incorporating some of the best practices from the field of public relations into your communication strategy can improve engagement and encourage employees to take action.

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Topics: Employer Basics

How to safely choose the absolute best payroll service for you and your employees

Posted by Misty Mathews on Aug 31, 2017

 

Payroll service companies can be a big help when it comes to calculating and filing your company’s payroll taxes, printing checks, and being available to answer important payroll-related questions. Industry-leading companies have streamlined processes and controls that lead to greater efficiency and fewer errors, which can save your company time and money.

When considering payroll service options, it is important to choose a reputable company because ultimately your business is responsible for paying the taxes, not your payroll company. That means you must do your homework to ensure the payroll company is compliant with regulatory standards and that your taxes are paid in full and on time.

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Topics: Payroll, Small Business, Employer Basics

Onboarding Best Practices: Set Up Your New Employee for Success

Posted by Misty Mathews on May 11, 2017

The Society for Human Resource Management (SHRM) reports that 15 percent of employees who quit a job within the first six months cite lack of proper onboarding as the primary reason they left the new position.

Other reasons these employees gave: no clear outline of responsibilities, insufficient training, lack of a friendly face to help out in their early days on the job, not enough attention from their manager or coworkers, and lack of recognition for their contributions.

All of these issues can be addressed through a well-developed and consistently executed onboarding process. Proper onboarding sets the stage for better employee engagement, which leads to lower turnover, which leads to lower recruiting and training expenses.

Here are a few must-have elements to a modern onboarding process that will help set your relationships with your new employees off on the right foot every time.

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Topics: Employer Basics, Human Capital Management

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Thank you for visiting our blog. Please note that we do our best to fully research the blog topics you see here and present accurate and up-to-date information. We believe the information to be accurate but make no claims as such. We also want to share with you that we do not provide professional accounting, financial, legal or tax advice and we recommend contacting a licensed accounting, financial, legal or tax advisor for business advice. For any comments related to the blog, please email us at info@inovapayroll.com.