Four Ways SMBs Can Great a Great Culture

Four Ways SMBs Can Great a Great Culture

Leaders have long known that company culture can make or break productivity, profitability, and overall business value. At the intersection of workplace culture development and legal operations, there exists a part of every organization that could truly be considered the lungs of the company. How well your team works – cohesively and individually – matters greatly to every facet of your business. And if your company culture is lacking, well, your entire organization is going to have real trouble going the distance. 

The modern workplace calls for more than talent, it calls for extreme trust and a level of transparency most employers aren’t yet used to. Business leaders are being asked to share more than ever before, establishing open lines of insight and collaboration from the very top to the very bottom of the organization. It’s safer for the company, legally speaking, and it’s what today’s incoming workforce is demanding. Don’t believe me? Today’s average cost to replace an employee is about one-third of that person’s salary. Add to that the cost of lost productivity, and the average employee turnover at the standard small business can lead to an actual financial crisis. 

Good hiring, followed by good onboarding and good retention, is a critical endeavor for just about every scaling business. Here are some of the top ways to build a culture that helps you grow. 

Hire for culture as much as for skill

You can and should make culture part of your hiring process. There are many questions you can ask during the interview process that will help you determine if and how a prospect will fit with your organization from a culture perspective. For example: 

  • What do you value most at work? 
  • What do you like and dislike about working with a team versus working by yourself on
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Hiring a Marketer? Ask These 5 Interview Questions

Hiring a Marketer? Ask These 5 Interview Questions

Hiring for any role can be frustrating. You comb through hundreds of resumes looking for a perfect match, interview top candidates, and go through extensive negotiations, only to discover on the other end that you didn’t land the employee you really needed. You’re often left wondering if there was a question you didn’t ask that could’ve saved you the headache – and the high cost. 

According to the Society for Human Resource Management, the average cost to companies per hire was $4,129 in 2016, and that number has only gone up. When the role you’re searching for is in marketing, new strategic developments in areas like paid media might not be reflected well in a candidate’s degree or experience. 

I’ve seen business leaders hire marketers who are far too senior for the roles being filled, and the advanced salaries lead to skyrocketing budgets. In other cases, a company hires someone who doesn’t spend time learning how the company got where it is, leading to conflicts with the existing team and creating internal rifts. People who come in and try to prove themselves at the expense of other team members hurt the company culture.

We made a similar mistake. We hired someone with industry expertise, who claimed to be an expert in search engine optimization and client management, and a high-impact leader in a small, effective, agile team. He had an MBA to boot. Within his first few weeks, though, he just sat there – idle – waiting to be told what to do and never asking any questions. He had to be shown tasks multiple times and just didn’t get it. After turning away promising candidates with “less” experience, we wasted so much time on this hire, and our team morale took a hit.

When you’re hiring for a position,

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8 HR Compliance Challenges Small Businesses Face

8 HR Compliance Challenges Small Businesses Face

There are many regulations imposed on small businesses. Once you start hiring employees, you will need to abide by these ever-changing laws. Not only do you have to keep your finger on the pulse of federal agencies’ requirements, but you must also track changes at the state and local levels. Keep reading to learn about eight evolving employment and HR compliance regulations you’ll need to monitor.

1. Paying your employees at least minimum wage

The current federal minimum wage is $7.25 per hour. If you pay your workers less than that, you could be responsible for back wages and steep penalties.

Although the rate has been stagnant for over 10 years, there is a nationwide movement to increase it to $15 per hour. In fact, more than half the states and several localities have set their minimum wages higher than the Department of Labor’s standard.

If your state’s minimum wage differs from the federal limit, you will usually need to pay your workers the higher of the two. To find out how much you’re required to pay your team members, contact your state’s DOL branch.

2. Knowing when to pay overtime

A worker is exempt from overtime if they meet all of the following criteria:

  • They are paid on a salary basis.
  • They make at least $23,660 per year or $455 per week.
  • They perform exempt job duties, such as supervising two or more people.

For all others, you will likely need to pay at least 1.5 times their hourly rate for any time worked over 40 hours in a single workweek. Recently, the DOL increased the salary threshold to $35,568 per year or $684 per week. This rule will go into effect on Jan. 1, 2020. If any of your employees are exempt from overtime but earn less

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9 Recruiting Hacks for Your Company

9 Recruiting Hacks for Your Company

Recruiting is time-consuming and expensive, so it’s no surprise that staffing managers and talent management professionals are on the lookout for tips and tricks to ease the process while maintaining effectiveness.

In fact, the average cost per hire in the United States is just over $4,000. If you combine the cost with the average interview process duration of 23 days, you’re looking at a serious financial and time investment.

Recruiting well is no easy task. Yet, 32% of the workforce hoped to change jobs in 2019. It’s clear that there are many, many job seekers on the market, and it’s just a matter of attracting the right ones and keeping them on board throughout your recruiting process.

Luckily, there are several effective hacks that help cut down on both cost and process duration, while increasing your chances of discovering qualified candidates. Here are nine recruiting hacks you can implement today to create a smoother, more efficient process.

1.Craft an effective job ad

It should be obvious, but with all the job posts out there riddled with typos and irrelevant requirements, it bears stating – writing an attractive and well-edited job ad that matches the position is the ultimate recruiting hack.

There are candidates who will apply to every job in sight, but they’re not who talent management professionals like you are looking to attract. If you want top tier options for potential employees, make sure your ad is impeccable.

First things first, does the position title accurately reflect the role’s requirements? Most candidates search by job title, so make sure yours is aligned to attract those with the skill set you need.

Don’t simply cut and paste new ads from previous job postings. Though you should certainly reuse templates to cut down on time, update each position listing and craft

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Why SMBs Should Use PEOs When Expanding Overseas

Why SMBs Should Use PEOs When Expanding Overseas

  • Professional employer organizations (PEOs) are professional recruitment agencies through which you can outsource your staffing needs.
  • PEOs don’t just act as the regulatory umbrella for your staff members; they can also offer additional benefits to your overseas employees.
  • If you’re looking to expand your business abroad using a lower-cost, lower-risk model, engage the services of a PEO.

As a successful business owner, it’s only a matter of time before you start mapping out a plan for your expansion. As part of your market-entry strategy, you’ll likely be weighing the pros and cons of establishing a branch or subsidiary overseas or incorporating your company in another country. With these options comes the hefty task of understanding and complying with local legal and commercial regulations, and likely, your obligations as an employer.

Thankfully, there’s an easier solution for businesses that are looking to dip their toes in a new market without overwhelming themselves with major investments and a raft of foreign compliance requirements. If you’re looking to expand overseas using a lower-cost, lower-risk business model, engage with a professional employer organization (PEO).

Editor’s note: Looking for the right PEO service for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

 

Expansion demands

Depending on the country you’re targeting, there’ll be a number of different legal entities (business structures) for you to choose from when expanding. Many of these will likely come with minimum capital investment requirements, along with legal, accounting and other obligations that your headquarters and senior staff overseas will need to keep on top of.

Businesses can be left quite vulnerable during expansion as they’re heavily reliant on local experts to fully understand and meet their obligations in the new country. On top of this, it’s a crucial period for establishing a

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