What is the Best Compensation Management Software in 2023?

By: Corey Philip | Updated: February 1, 2023

Let's face it, managing a small business and working long hours to pay the bills - on top of your team’s compensation is not for the faint-hearted! And ultimately, why should you take on that added burden if it can be automated with efficient compensation management software?The best compensation management software in 2023 is CaptivateIQ, Paycom, Namely, RUN Powered by ADP, SpriggHR, ChartHop, and Performance Pro. Including Zenefits, Workday HCM, and Lanteria HR. Most leading compensation management software applications provide a comprehensive HR solution.While choosing a world-class compensation management software tool may sound straightforward, that

Why Your Business Should Have a Non-solicitation Clause For Employees

By: Corey Philip | Updated: January 27, 2023

Non-solicitation clauses go a long way in protecting the longevity and success of your business. Implementing a non-solicitation clause in your employment agreement with your employees is essential in protecting your ability to retain existing clients and employees.Your business should have a non-solicitation clause for employees to prevent employees from soliciting your clients and suppliers. Additionally, a non-solicitation clause is necessary to prohibit an employee from leaving, starting a new business, and recruiting your employees for that new business.Failure to implement a non-solicitation clause for employees can result in your employee becoming your competitor and

Accurate & Routine: 7 Payroll Processing Best Practices

By: Corey Philip | Updated: November 20, 2022

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

6 Best Practices for Email Communication in the Workplace

By: Corey Philip | Updated: November 17, 2022

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

7 Best Practices For Training Remote Employees

By: Corey Philip | Updated: November 17, 2022

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.

End on a Good Note: 12 Best Practices for Firing an Employee

By: Corey Philip | Updated: November 17, 2022

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

9 HR Document Management Best Practices That Will Keep You Organized

By: Corey Philip | Updated: November 12, 2022

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

Profit Sharing Plan vs. 401(k) for Small Business

By: Corey Philip | Updated: November 10, 2022

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.

The Types of Profit Sharing Plans Small Businesses Owners Need to Know About

By: Corey Philip | Updated: November 10, 2022

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

9 Best Practices for Onboarding Contractors to Create a Sense of Team

By: Corey Philip | Updated: November 9, 2022

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.

Page [tcb_pagination_current_page] of [tcb_pagination_total_pages]

First

Last