Payroll processing is one of the most critical aspects of the global accounting and business fields. It's also something that has to be done tediously every week and with accuracy as your employee's lives depend on it.   The main purpose of payroll processing is to fairly and accurately compensate all employees for their work. There are various ways to accurately and routinely process monthly payrolls; however, which procedure would be best for your business? To ensure accuracy and reliability during monthly payrolls, you should track deadlines, create written policies, maintain records, enhance time and

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In the workplace, emails are constantly sent concerning all types of matters. Email communication is a convenient and effective way of reminding someone about a meeting scheduled for that afternoon or discussing a particular work-related topic. So, what practices can be implemented to ensure effective and professional email communication in the workplace? There are several practices to ensure effective and professional email communication in the workplace. These practices include having a specific and clear subject line, writing clear and brief emails, using correct grammar and punctuation, considering your audience, and several others. Carrying out these

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When it comes to remote employees, the concept sounds good in theory, but many business owners struggle with managing them effectively and seeing productive results. I am no exception.  At one point I nearly through the towel in on remote employees as they left me with more frustration than value.  As I would discover, the problems started from the beginning with training (of the employees).In this article, we will explore the best practices I've developed for training remote employees to ensure that your company’s workforce is equipped to operate from all over the world.Let’s get

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Dismissing an employee is a tense and agonizing experience for the employer and the employee. However, termination doesn’t have to be tormenting for those involved. It is best to end a business relationship on a good note.Additionally, a termination interview is a sensitive topic that requires respect and tact to make the experience more tolerable.So, what are the best practices for firing an employee?First, ensure that the termination isn’t a surprise and follow consistent procedures. Then, prepare to prove a fair dismissal, choose the right setting, and include a witness. During the firing, keep it

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HR documents are the pillar of all the procedures that govern a business. These documents range from employment relationships, company policies, entering into business agreements, and more. It is critical for HR professionals to sustain organized, unerring, consistent, and accessible documentation of workplace events.The best HR document management practices include organizing HR records, switching to electronic software, implementing HR record retention schedules, discarding outdated records, workflow management, training staff to use document management practices, and implementing security policies and audits.Effectively managing and organizing HR documents can be a real challenge due to the exorbitant volume

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A pension plan is a must for any business, regardless of size. It’s the key to attracting and retaining workers, though there are different options out there you have to think about. So, what’s the difference between a profit-sharing plan and 401(k) for small businesses? Although both pension plans are similar, they have slight differences that will help put advantages and disadvantages in perspective, helping you choose the perfect plan for your small business. PROFIT SHARING PLAN A profit-sharing plan is a pension plan that allows employees to receive a piece of the company’s profits.

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Even though there are several types of profit-sharing plans for small businesses. They all provide an enduring legacy for loyal employees. Especially those who made a significant contribution to the success of your business.The three types of profit-sharing plans for small businesses include a pro-rata plan where employees receive identical amounts. An age-weighted plan that pays a higher percentage to those nearing retirement. A non-comparability plan with high and low percentage allocations for different groups.Establishing a profit-sharing plan for your small business is relatively straightforward. However, there are a few crucial factors to take into

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So you hired a bunch of independent contractors for your business? And they all performed poorly and eventually flaked off. It happens. It happened to me. In 2016 I had my first dip into the foray of mass hiring independent contractors. They were to take measurements online for a roofing business using a tool like Google Maps. Right from the get go on day 1 I didn't even have a training plan for them, nor my own time scheduled to train them (facepalm). It was a recipe for disaster that I walked right into.  

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