I found this Employer Survival Guide 2019 very interesting and wanted to pass it on to all of our small business owners.
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I found this Employer Survival Guide 2019 very interesting and wanted to pass it on to all of our small business owners. Hold onto your hats and strap on the seatbelts…this will be quite a ride in 2019!!
Key Employees Management Staff With Low Unemployment Employment Branding For Top Performers For Sales Growth Before Interviewing Strengthening Recruiting
Consulting Key & Exec Comp Reviews & Analysis Wealth Management Training Implementation For Retention Maximizing ROI
For Hiring For Managing For Promoting For Understanding For Retention For Growth For Team Building Etc.
Basics As the leader When hiring Getting along Getting Results Project Management Day to Day
Customized Services Consulting/Coaching Support Types of Owners Thriving with Style Your Owner Profile Project Management Growing Revenues Off-loading Succession Planning Getting to the Next Level Growing Infrastructure Problem Solving Training
According to FAST COMPANY magazine article in 2015 (and they DO still apply to 2019) these are the most common things. They are “Four Things that Keep Small Business Owners Up at Night!" 1. Growing Revenues 2. Hiring New Employees 3. Government Regulations 4. Cash Flow
If your company is growing, how are you doing with cash flow? How can you get help with improving cash flow? What kind of help do you need?? Some companies cannot afford to grow…
Due to the low unemployment rate over the last several years and coupled with strong hiring efforts by companies Cash Flow issues are still on the list. How can small business compete for top talent? How can small business identify what top talent looks like at their company? How can they ensure hiring top talent and retaining them as well? What can you do?
Government regulations continue to change, expand and often complicate the running of a small business. What can you do to comply and remain profitable?
If you need help with these things, we are here to support you. We have been a small business for 33 years in MA and have ridden the peaks and valleys of these challenges….and more. To read further:
On March 7, 2019 the Department Of Labor proposed an increase of the wage base for exemption of overtime from $455 per week or $23,660 annual salary. The new minimum wage to be earned to be eligible for an exempt status is being raised to $679 per week or $35,308 annually. Employers need to be prepared for this potential increase.
Now is the time to look at your salaries in job roles that are non-exempt and see if it makes sense to raise them. Also, you can see what do your employees prefer. In addition it would be good to look at hourly workers who have a lot of overtime and it may make sense to increase their pay OR add other hourly workers to eliminate a lot of overtime. An internal company analysis will help employers from being unprepared for this potential update in the law. It is important to plan a strategy as early as possible to avoid unexpected costs and or non-compliance issues.
The final ruling will not be until later in 2019 and If this proposed change goes into effect, it would be most likely be in early 2020. For more details: https://www.dol.gov/whd/overtime2019/
Recruiting & Retention
Did you know that among the Five top HR Trends in 2019 according to G2CROWD is ENGAGING ALL EMPLOYEES? This is clearly a retention effort on the part of employers. The report goes on to predict that “businesses will increase their employee engagement spending by 45% in 2019”. We know that companies suffer when employee engagement is low which can lead to increased levels of turnover…which are costly and should be avoided.
What is your small business planning on doing with enhancing employee engagement? It could make for a much better year and beyond if you work on it now. Read more here: https://learn.g2crowd.com/2019-hr-trends
HAVE YOU HEARD… of an LSA?
Did you know that one of the newer trends in benefits in the marketplace is offering your employees an LSA (Lifestyle Spending Account)??
They are relatively easy to set up, employer funded, are taxable to the employee and the employer has control of the amount and of course what they will reimburse for. They are usually set up by companies to encourage healthy behaviors for their employees.
This lifestyle spending account covers things that the voluntary benefits don't, but can be important to employees. Pet care coverage, roadside assistance, fitness center, etc. An employee survey could also reveal what employees value as help the employer choose some of what goes into the spending account.
It is yet one more employee benefit in the effort for employers to retain productive employees. Would you like more information on how this can benefit your company?
Soon to be Released Book
“Build a Great Business…You Have To Work There Too!”
I began my business 33 years ago, building a foundation based upon me working there…probably much more than 40 hours per week. Because I was going to work there too…it all had to be top notch and empower employees, have the best services with many value adds for our clients and so much more! That is what helped me to formulate the title!!
My soon to be released book offers a lot of information to help small business owners with many of their challenges and provides options and solutons. The release of the book will kick off a program to help small business owners with multiple challenges in running their business
More updates and sneak peeks soon!!
There are many moving parts to being a small business owner. We specialize in helping the small business owner with the challenges that keep them up at night in relation to their people, their profits and the planet (the community that they live and work in).
If we haven’t hit on a topic that interests you yet, please reach out and contact us to see if there is synergy between our two companies and if we have solutions for you.
After 30 plus years as a small business owner….as Farmers Insurance says…"we have seen a thing or two" so we may be able to help.
We believe that small businesses deserve the resources and solutions that the big companies have, but at a small business price tag.
The information contained within this newsletter is timely and is not to be confused with legal advice. For specific legal advice, contact your attorney as always. This is a snippet/highlight of a couple of current legal updates, but is NOT meant to be representative of ALL of the employment law activity/updates in the employment marketplace at this time.
To schedule a discovery meeting to see if we are a good fit for you on any of these topics or others, feel free to reach out to Kathy Barron at Kbarron@accurateresourcegroup.com or direct line: 1.508.769.7374.
Know someone else who will benefit from this info? Share this with a friend:
Accurate Resource Group, Inc.
1900 West Park Drive, Suite 280
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