The Department of Labor’s New Rules for the “White Collar” Overtime Exemptions
On September 24, 2019, the Department of Labor (DOL) announced its final rule to update the minimum salary requirements for the “white collar” (executive, administrative, and professional) overtime exemptions. The new rule will take effect on January 1, 2020.
Grow, Thrive, Succeed: Here’s How a PEO Can Help
If someone told you that you could lower your employee turnover, improve your company’s chances of survival, and increase your revenue just by outsourcing your HR would you believe them?
But it’s true. That is, if you partner with a professional employer organization (PEO) like Erigo.
The Gig Economy and its Impact on the Employment Landscape
The traditional “job” has changed drastically over the past decade. Workers continue to demand a work-life balance outside of the traditional 9-to-5 employment model, retirees continue to seek side jobs for extra money, and technology is allowing people more flexibility to work from home.
According to NACo, the share of the U.S. workforce in the gig economy rose from 10.1 percent in 2005 to 15.8 percent in 2015. The organization describes the “gig” economy as: independent workers paid by the gig (i.e. task or project); consumers with specific service needs, such as a ride to their next destination or a particular item delivered; and companies that connect the worker to the consumer in a direct manner, such as Airbnb, Uber, Door Dash, and more.
Leveraging freelancers, contractors, or “gig” employees can sound very appealing to small businesses that may not be able to offer competitive health and retirement benefits; however, there are potential risks involved as well.
How Kentucky Businesses Should Prepare for the Pregnant Workers Act
During the last day of the 2019 legislative session, the Kentucky General Assembly passed Senate Bill 18, known as the Pregnant Workers Act. This act was officially signed into law on April 9 and impacts thousands of local businesses in the state of Kentucky. Under the Pregnant Workers Act, employers will be liable if they fail to provide reasonable accommodations to employees for pregnancy, childbirth, or a related medical condition unless it would impose an undue hardship on the employer.
To prepare for the new law, businesses need to understand which employers will be required to comply, what qualifies as a “reasonable accommodation,” and the risks for employers who are not compliant.
Three ways a PEO can alleviate the stress of owning a small business
Running your own business can be incredibly rewarding – you wake up each day knowing that you get to do what you love with your dream team. Managing that dream team also comes with a laundry list of cumbersome but necessary tasks like hiring and firing employees, taxes, benefits administration, workers compensation, and more.
Co-employment with a Professional Employer Organization (or PEO) can be an excellent solution to alleviate these burdensome tasks and reduce risk, by transferring all or some of your organization’s human resources and payroll tasks to professionals who specialize in these areas. Here’s how working with a PEO can help reduce risk for your business:
How to Make “Out of the Box” Benefits Work
As of January 2019, the unemployment rate in the U.S. was at four percent, the lowest in more than a decade. In such a competitive landscape, it has become crucial for employers to be thoughtful and creative in their benefit offerings to attract and retain talent.
But, how creative is too creative? Unique benefits may attract some excellent employees, but they come with their own set of pros and cons. These offerings can range from new takes on traditional benefits, to lifestyle supplements, to frivolous offerings. Here are some ways you can make unique benefits work for your business:
Hiring Your First Employee
Complete These 6 Tasks Prior to Hiring Your First Employee
The decision to hire the first employee is a big one that often comes a business owner whose business has grown to the point where they need a little more assistance. While this is an exciting time – and excellent news for the company – it can also be overwhelming.
Taking on additional help should not be taken lightly. You should be aware that becoming an employer brings additional paperwork, liabilities, expenses, training time, and legal obligations once this transition has been made.
When you are ready to bring on employees, there are a few tasks that must be done in preparation to be sure your business is compliant and not subject to unnecessary liabilities.