Rewarding high-performing employees with a great cliff vesting benefits package is a prudent business decision as a motivated workforce is essential for financial sustainability. Although, devising a cliff vesting benefits package with so many options can be challenging.Small businesses benefit from cliff vesting as it attracts and retains top talent. Most cliff vesting benefits plans are three years long, so employees must remain in a business for that period. And companies have adequate time to monitor their employee's performance before they are vested. Even though establishing a cliff vesting plan for your key employees may sound

Suppose you are starting a business with a few shareholders on board. In that case, you might have reached the predicament of choosing between an S corp or an LLC. With these two choices having similarities, there is one question that remains. Is it possible for an S corp to own an LLC?An S corp can own an LLC. A Limited Liability Company is an entity that provides ownership interest through shares. These shares can be purchased by other business entities or individuals. An S corp is an independent legal entity, enabling it to invest

Overseeing a sales team is a challenge for anyone, whether the sales manager is new to the business or well-seasoned. Many studies have proven that incentivizing someone equals results; after all, who doesn't want extra compensation for their hard work? There are a handful of compensation models that can align incentives to entice your sales manager to become a sales-handling machine.To successfully motivate your sales manager, you can incentivize them with compensation for meeting sales metrics and KPIs, reaching high profit margins, and their behaviors. You can also reward your sales manager with a cliff

As a business owner with employees, payroll processing is a daunting task. After all, you know your business but little about payroll processing. The last thing your business can afford is to be fined for late payments or incorrect payroll calculations. You might wonder if there is a checklist to use when processing your payroll to avoid errors and delays.Payroll processing involves six basic steps: from confirming employee details to the payment of amounts deducted. Each of these steps can be further broken down into smaller tasks, which, if completed, will limit the risk of

According to a startling Harvard Business School research study, over 80% of employees feel they are not adequately rewarded or valued by their employers. Even though their wages are above US market rates.Fortunately, there are ways to incentivize employees without money, such as providing generous benefits. It also involved autotomy, purpose, flexibility, work-life balance, team-suggested incentives, personalized gifts, special privileges, professional development, a fun community, fostering leadership, and more.Like most people, employees need to feel valued. Favorably, the most effective incentives won't break the bank. And in some instances, it might only require a heartfelt

Well-run revenue cycle management ensures that medical practitioners are timeously paid. When done properly, there is an increased reduction in billing errors; there are several revenue cycle management steps to follow to lead to best practices.As complex as revenue cycle management may be, one can mitigate payment delays by following the revenue cycle processes. Several steps can be followed and are the same processes used by revenue management companies specializing in this field.We shall take a look at each revenue cycle step to provide a comprehensive look at the best practices for revenue cycle management,

An effective manager of people in the workplace understands that an essential aspect of effective leadership is recognizing individual strengths and weaknesses and harnessing character and personality traits for maximum efficiency. For example, introverted people require a unique, patient approach. The most effective way of managing introverts must include a healthy respect for time and space. Introverts are typically quieter and more methodical in their approach to tasks. Understanding this and providing the necessary scope in the workplace will ultimately harness their most significant potential. Due to their inherently quiet, reserved nature, introverts are often

As organizations welcome an increasing number of Gen-Z employees, it’s imperative that they learn to embrace the evolving perspectives brought into the workplace. In addition, leaders must implement dynamic and adaptive leadership styles to match Gen-Z employees’ learning styles and expectations.Identifying (and implementing) the best leadership tactics for Gen-Z employees is critical. It makes room for influence, trust, and effective communication from leaders.So, what are the best leadership tactics for Gen-Z employees?In this article, we’ll cover some best leadership tactics to help you attract, manage, and retain Gen-Z employees.Here we go.The Best Leadership Tactics for