Inova Payroll Blog

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

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

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

An Overview of California's Paid Sick Leave Law

Posted by Misty Mathews on Feb 23, 2017

This post was updated March 2018.

Among a number of regulatory changes in 2018, more and more states and municipalities are enacting their own laws and ordinances for paid sick leave, ensuring employees have protected time off for their own illness or to help a family member. These rules are designed to be employee-friendly, and they can come with unique challenges for employers, especially those whose current policies and practices are at odds with the new requirements.

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Topics: Employer Basics

Essentials to Earning Work Opportunity Tax Credits

Posted by Grace Ferguson on Aug 17, 2016

Despite the declining unemployment rate, many veterans struggle to find jobs matching their education, skills and experience. In an effort to hire veterans and other individuals facing barriers to employment, the federal government established the Work Opportunity Tax Credit (WOTC) program – which rewards employers with a tax credit for each eligible new hire. Employers can reduce federal income tax by up to $9,600 per eligible hired employee, so it’s a good idea for employers to understand how the WOTC applies to their business.

In this Q & A, you will find relevant WOTC information, including target groups, eligibility requirements, how to calculate and claim credits, plus tips for getting the most out of the program.

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Topics: Employer Basics

Payroll Tax Rules for Employers

Posted by Grace Ferguson on Aug 10, 2016

The mazelike world of payroll taxes can be perplexing for employers. The key to breaking through the initial confusion is to identify the two categories of payroll taxes: employee taxes, which are withheld from employees’ wages; and employer taxes, which are the employer’s portion of taxes. Employee and employer taxes are imposed on federal, state and local levels – knowing which ones pertain to your business is an essential element of staying in compliance and avoiding payroll tax penalties.

This handy guide provides a basic understanding of payroll taxes, including withholding, remittance and reporting guidelines, plus important tips for employers who outsource payroll duties.

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Topics: Payroll, Small Business, Employer Basics

Tip Reporting Cheat Sheet

Posted by Inova Payroll on Mar 24, 2016

Tip income represents special payroll and reporting challenges for restaurant employers. Underreporting of tip income triggers a two-fold effect: inadequate withholding of the employee’s share of taxes and underpayment of the employer’s portion. Still, that’s just one side of the tip reporting coin. On the other side are requirements you must meet, such as minimum wage, tax withholding and tip allocation.

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Topics: Payroll, Employer Basics

Magic numbers: Employee counts and federal employer reporting

Posted by Melanie Crow on Feb 17, 2016

Growing your business means you’ve got a to-do list that multiplies, seemingly overnight. Let’s knock a few things off that list, with simple employer reporting guidelines based on employee counts and helpful links to corresponding forms. 

1+ employee(s) and payroll tax reporting

Congratulations! You’re on your way. Here are all the basic federal payroll tax forms you’ll need to file if you have one or more employees. You can also review the 2016 IRS document “Employer’s Tax Guide” – if you dare.

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Topics: Employer Basics

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Covering payroll & HR basics, industry trends, and important  legislation affecting employers.

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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.