Category: People & Relationships

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People & Relationships

Paperless Payroll

Most businesses stand to benefit substantially from paperless payroll platforms, though electronic payroll might not perfectly fit all companies.

As evermore business needs go digital, payroll follows suit: Paper checks and manual payroll tabulation are largely on the way out in favor of paperless payroll. Below, learn everything you should know as you consider making the switch.

What is paperless payroll?

Paperless payroll is any entirely electronic payroll system. It typically includes fully electronic tools for delivering pay stubs and tax forms, tracking employee time, creating payroll reports, and paying employees. Typically, one payroll software platform is all you need to implement all these functions. That said, no two paperless payroll platforms look quite the same, but the best payroll software has all these features.

How does paperless payroll typically work?

Paperless payroll typically works through the following steps:

1. Install paperless payroll software.

Paperless payroll begins with the installation of payroll software or HR software that includes payroll. Initially installing these platforms is typically easy, but implementing them and training your team in them can present some challenges. (We’ll address these obstacles and their solutions later.)

2. Have your employees sign up for the payroll software.

Once you install your paperless payroll solution, your employees must create accounts within the program. From their accounts, they can receive pay stubs, tax forms and, most importantly, paychecks. For the latter purpose, your employees will need to add certain information.

3. Have your employees input banking information.

To enable direct deposit, your employees must add their banking information to your payroll software. Once employees add their bank account and routing numbers, all should be in place for direct deposit.

4. Integrate payroll software with your time-tracking system.

A key function of payroll software is to link your employees’ time worked with the amount of pay they should receive for that period. Many payroll platforms achieve this task more deftly when integrated with a scheduling or time-tracking tool. This integration means you and your employees don’t have to manually enter hours worked into two platforms. It also minimizes errors that could lead to overpayment or underpayment.

TipTip: Consider these top time and attendance software solutions to integrate with your online payroll system.

5. Train your employees on the system and seek consent.

Some training will likely be necessary to get your employees up to speed on the new payroll platform, and it’s on you to provide this training. Sometimes, your payroll provider will include guided training and onboarding, relieving you of this burden. If not, you should gather your team for a debrief on how to get started.

In some states, you may need employees’ consent to pay them electronically. Learn and follow your state’s laws on the matter before onboarding employees to your paperless payroll system. In all states, you must obtain your employees’ consent to provide their W-2 forms electronically. Employees who decline must receive paper forms.

6. Generate tax forms and payroll reports.

When it comes time to pay your yearly or quarterly taxes, you’ll need tax forms to do so compliantly. Paperless payroll software generates these forms for you and can send copies to your employees as needed. It can also generate payroll reports that further detail your tax liabilities. These reports also come in handy for other needs, such as verifying employee vacation time.

Types of paperless payroll solutions

Most paperless payroll platforms fall into one of three categories: electronic payroll records, employee self-service or electronic funds transfer.

  • Electronic payroll records: This is the most basic type of paperless payroll platform. It has only rudimentary electronic payroll tracking and calculation functions, which is all that some businesses need.
  • Employee self-service: Through ESS software, you can couple your electronic payroll records with tools for other HR needs, such as benefits and employee handbooks. ESS platforms also automate employee clock-in and clock-out and thus your calculations of hours worked.
  • Electronic funds transfer: This category encompasses electronic payroll records with direct deposit tools. EFT platforms both eliminate the paper clutter associated with payroll and set up rapid payments. However, as mentioned earlier, you may need employees’ consent to set up EFT in certain states.

Benefits of Paperless Payroll [Business.com]

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People & Relationships

Three Ways to Show Appreciation for Your Employees

Customer reception is vital for business. It’s what keeps the workplace active and able to make changes. Companies can determine how customers feel about certain products and services by using perceptual mapping and other marketing techniques, but how can you show your employees how you feel about them? While customers are extremely important, so are the employees that keep the business running, so it’s good to show them that they are appreciated for everything they do. But how can you do so?

Start the Feeding Frenzy

If there’s one thing that will win people over, it’s food. Everybody eats, and everybody has their own personal preferences, but occasionally buying lunch for the team will work wonders around the office. You’d be hard-pressed to find someone who would deny a free lunch. In fact, they’d likely be thrilled by your offer. You don’t have to do this every day, or even every week, but simply surprising your employees every once in a while will make them feel like you really care about them enough to do things you don’t have to—even if it’s as simple as getting them a sandwich.

Happy Birthday!

Birthdays come around every year, and remembering to acknowledge them can truly go a long way in terms of showing appreciation for your employees. It can be difficult to do something extravagant with a larger company and many workers, but by at least recognizing birthdays during meetings or giving out small goodies, you’ll let them know how you feel. If your company is smaller, you could give individuals a cake or even buy them lunch of their choice. You don’t have to throw them a surprise party or anything, nor would they expect you to, but by just going the extra mile your employees will feel much happier for it.

Plan Outings

A great way to show your employees that you appreciate them and all the work they’ve done is by planning team outings. By gathering everybody up once a year for a day of out-of-office excursions, you can promote teambuilding give everyone a chance to have fun. This could be just about anything: a trip to a brewery, a day at a theme park, an insanely nice dinner followed by the aquarium, or just about anything else you can think of. The team will have a blast, strengthen their relationships, and come back to work with a new breath of life.

Your Appreciation is Appreciated

These are just a few ways you can show your employees just how much you appreciate them, but by just physically telling them that you appreciate their work for the company, you can easily boost their morale for the day. It’s kind, it’s effortless, and it’s free. Not only that, but they will appreciate your appreciation.

 

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People & Relationships

Measuring Employee’s Happiness

Gauging how happy and fulfilled employees are in their jobs is important for small business leaders to do in order to determine the health and strength of their businesses. The more satisfied employees are, the more likely they’ll stay with the company long term and the higher their productivity will be. But how can you know if your staff is enjoying their work, especially when they may not feel comfortable expressing their true feelings with their superiors?

To help, 10 small business experts from Young Entrepreneur Council (YEC) answered the following question:

“What’s one effective method small business leaders can use to gauge the happiness and fulfillment of their employees? Why is this so important to do regularly?”

Here are some of the top strategies they recommend.

1. Ask Them in a Safe Environment

“Keep it simple and just ask. Create a safe environment for team members to give you feedback at any time. You’ll be amazed at what they bring you, how much personal responsibility they hold for the business’s success and how quickly the team will grow. Stop treating employees like subordinates; they’re your team members and you’re the coach.” ~ Steven Knight, Mosaic Home Services Ltd.

2. Be Authentic While Interacting With Them

“Speak to them authentically. The problem is that an environment that encourages forced answers is one in which it’s hard to gauge happiness. When a boss is accepting and authentic with their staff, the staff will feel the ability to communicate authentically as well.” ~ Nicole Munoz, Nicole Munoz Consulting, Inc.

3. Measure Productivity and Well-Being Twice a Year

“Small employers need to act like large employers when it comes to measuring the productivity and well-being of their workforce. Productivity and well-being build a resilient, engaged and hard-working workforce and help to attract and retain your top talent. Measuring these factors twice a year is easy for any leader to do.” ~ Tom Finn, LeggUP Inc.

4. Conduct Regular Check-Ins

“Relationship-building and fostering a culture that encourages both feedback and open dialogue are key. We sometimes swap out weekly team calls for all-team check-ins where each member of the team is given the space to share how they’re really doing, personally and professionally. No one is compelled to share, but most often do. It’s a good way to get a quick temperature check on where folks are at.” ~ Danielle Allen,Building Impact

5. Examine Initiative and Innovation Levels

“Gauge the level of initiative in your organization. If your employees are spearheading new projects, adding new elements to their positions and finding new solutions for problems, then you have a winning company culture. If they’re only doing what they’re told, then you have a stale environment without any creative energy. That’s a major momentum killer. So, encourage innovation and initiative.” ~ Tyler Gallagher, Regal Assets

6. Look at How Often They Are Tardy

“It may sound simple, but keeping an eye on employee tardiness can give you real insight into how employees feel about their work. Being late for work can signify many things, but if it’s consistent, then the employee may be struggling with their work-life balance. This in and of itself can imply that they are not happy in their work.” ~ Ismael Wrixen, FE International

7. Look for Consistency in Performance and Attitude

“You can ask all the questions you want, but an unhappy employee won’t tell you the truth anyway. Actions speak louder than words and so the best way to really know if an employee is still happy with you is by checking how consistent an employee’s performance, attendance and attitude are. This acts as a check and balance for you and your employee to both improve for the better.” ~ Daisy Jing, Banish

8. Provide a Feedback Box for Anonymous Opinions

“Small business leaders can gauge their employees’ happiness and fulfillment by creating a feedback box, which gives the team the option to remain anonymous and give more transparent feedback about what improvements can be made. It’s crucial to regularly receive feedback so you’re aware of what happens behind the scenes and can make well-informed decisions moving forward.” ~ Stephanie Wells, Formidable Forms

9. Give Periodic Employee Surveys

“Every quarter, year or month send out a quick questionnaire or survey to track and trend employee satisfaction. A great question to ask in your assessment is how likely they are to tell their friends and family to work at the company. This is a quick way to determine whether they are happy at work and proud to be your company’s employee.” ~ Matthew Podolsky, Florida Law Advisers, P.A.

10. Assign a New Task and Examine Their Response

“Periodically ask an employee to do something for you that would require a bit more effort on top of their day-to-day tasks. If your request is met with enthusiasm, you have a happy employee who is motivated to grow with your company. If you are met with resentment, that employee is most likely not happy or fulfilled. This is a good exercise to gauge fulfillment and motivation in your teams.” ~ Matthew Capala,Alphametic

10 Effective Methods for Measuring Employee Happiness [Smallbiztrends]

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People & Relationships

What A Business Consultant Can Help To Do

Hiring a consultant can help businesses improve performance and make necessary changes to achieve success.

  • Business consultants help companies overcome challenges, increase revenue or grow.
  • It’s important to ensure business consultants have experience and previous success with companies like yours.
  • Business consultants may charge by the project or the hour, or require daily or monthly retainers.

Business consultants provide management consulting to help organizations improve their performance and efficiency. These professionals analyze businesses and create solutions while also helping companies meet their goals. Business owners should consider hiring business consultants when they need help or perspective on their chosen path or a catalyst for change in their companies.

What does a consultant do?

There are several reasons business owners should consider hiring consultants. Consultants offer a wide range of services, including the following:

  • Providing expertise in a specific market
  • Identifying problems
  • Supplementing existing staff
  • Initiating change
  • Providing objectivity
  • Teaching and training employees
  • Doing the “dirty work,” like eliminating staff
  • Reviving an organization
  • Creating a new business
  • Influencing other people, such as lobbyists

The first step for any business consultant is the discovery phase, where the goal is to learn the client’s business. A good business consultant takes the time to learn as much as possible about the business from the owner and employees. This can include touring the facility, meeting with the board of directors and employees, analyzing the finances and reading all company materials. During this process, the business consultant will uncover the details of a company’s mission and what operations are in place.

Once the business consultant has developed an in-depth understanding of the company, they enter the evaluation phase, where the goal is to identify where change is needed. This phase includes identifying the company’s strengths and weaknesses, as well as current and foreseeable problems. These issues can include problems that ownership and management have already identified, as well as new problems the business consultant discovers as a result of their objectivity. A business consultant should also identify opportunities to grow the business, increase profits and boost efficiency.

In addition to identifying these problems and opportunities, a business consultant should develop solutions to problems and plans for capitalizing on opportunities. Perhaps a company has a particularly strong sales department but a weak marketing department. This is an opportunity for the company to increase marketing resources and capitalize on the sales staff. During this phase, it’s important for the consultant and the company’s employees to maintain open, clear communications.

Constructive criticism

It’s important for a business owner to take the business consultant’s advice at this stage as constructive criticism. The owner should not take this criticism personally, as the business consultant brings objectivity and a fresh viewpoint. The owner may be personally close to the business, which can be an obstacle to positive change and growth. The owner should have feedback and provide opinions to the business consultant, which the business owner should consider and revise plans as necessary.

Once the owner and the consultant agree on a plan, the consultant should enter the third phase of consulting. This is the restructuring phase, or the implementation of the plan. In this phase, the consultant builds on assets and eliminates liabilities. They also monitor the plan’s progress and adjust it as needed.

How to find a business consultant

Finding the right business consultant may be the most difficult part for the owner or management. The consultant should have a passion for their work, a drive for excellence and an eye for organization and detail. It’s important to find a consultant who has expertise in your industry or experience with the kinds of problems your business faces. Also, make sure they have solid referrals.

In addition, ensure the business consultant has any necessary certifications that are relevant to your industry. You should vet the consultant through their website and materials. Look for professional images and well-documented information about their services and thoroughly review contracts and consultancy fees. It’s a good idea to request examples of past successes and to speak to those businesses.

What is the typical background for a consultant?

The right background for the consultant you choose depends on your industry and needs. The U.S. Bureau of Labor Statistics notes that consultants can be management (business), scientific or technical. If you want someone to help your company develop new proprietary software or computer-based workflow, you may want to engage a technical consultant. Outside of specific needs, companies usually work with management consultants when they want to improve their bottom line, customer satisfaction or employee morale.

Regardless of the type of consultant you work with, their background is critical. It helps you understand how likely they are to improve your business. Here’s what to consider when reviewing potential consultants:

  • Do they have hands-on experience? This can be especially important in the business world. If someone came directly out of college labeling themselves as a consultant, do they really know anything more than you do? Consider looking for consultants who have successfully owned or run small businesses, enterprise organizations or specific departments.
  • Is their experience applicable? A former bank CEO may seem impressive, but do they have the knowledge and experience to turn your cupcakery into a profitable small business? They might, but if you’re also considering a former restaurant owner who now makes a living successfully helping small eateries grow, this consultant may be a better match for your business. Look for consultants who have worked in your industry and with businesses that match yours in style, size, needs and goals.
  • What’s their track record with consulting? You don’t just want a consultant who has the right experience; you want a consultant who has demonstrated success with companies like yours. Ask for a portfolio or list of brands the consultant has worked for, and request references. Look for a consultant who has helped businesses overcome the types of challenges you’re facing or who has grown businesses very similar to yours, and reach out to those companies to find out if they were satisfied with the services.

Business consultant FAQS

How much do business consultants charge?

According to the Bureau of Labor Statistics, management consultants make an average of $150,000 per year (or $62.93 per hour). But that’s what the person “takes home” as income, and consulting charges are typically higher to cover business expenses. Consultants don’t always charge by the hour. According to a consultant fee study by Consulting Success, these are some popular fee methods and the percentages of consultants who favor them:

  • Per project – 34.2%
  • Hourly – 27.3%
  • Monthly retainer – 15.1%
  • Daily rate – 14.1%
  • Other – 9.3%

According to the study, 43% of consultants earn up to $5,000 per project, though some make more than $100,000 per project. Obviously, the size, scope and length of the project determine the cost.

Business consultants are a considerable expense, but their feedback and planning can help you increase business and boost profits while eliminating problems and identifying opportunities to ensure future success.

How do you measure the ROI of a business consultant?

You measure ROI by looking at certain key metrics to determine the worth of the consultancy services. Most companies look at their net profits in the quarter before they hired the business consultant, then evaluate their net profits in the next quarter or two after they implement the consultant’s recommendations. You should deduct the cost of the consultancy before calculating the ROI.

Considering return on investment is an important part of hiring a business consultant. If you’re paying a business consultant upward of $5,000, you certainly want to see an established ROI after the project. Established business consultants should be able to show their former ROI data to prospective clients. According to the Predictive Index, 27% of surveyed businesses chose not to hire a consultant because the consultant could not demonstrate ROI. This is the most frequent reason for companies not using consultancy services, and it falls on the consultant to use big data to demonstrate past ROI.

How do you know when to hire a business consultant?

Business consultants don’t come in one size that fits all. You will need to evaluate your company in these key areas:

  • Human resources
  • Business strategy
  • Operations
  • Compliance and regulations
  • Financial planning

If your business struggles in any of these areas, then it’s a good idea to seek out a business consultant. Keep in mind that business consultants specialize in particular business areas, so you should seek out a verified expert in the field. For example, don’t hire an operations specialist if you need the most help with financial planning.

If you note any declines in profits that you can’t explain, this could be another sign that it’s time to hire a business consultant, who can pinpoint potential reasons for the decrease and ways to remedy them.

What Is a Business Consultant? [BusinessNewsDaily]

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People & Relationships

Surveillance At Work?

If you’re looking to install a video surveillance system in the workplace, consider a few advantages and disadvantages first.

  • Installing video surveillance cameras in the workplace can increase security, deter theft and improve employee accountability.
  • Businesses that wish to install security cameras should consider not only the cost, but potential employee privacy issues and any legal guidelines on workplace surveillance.
  • The right choice for your company depends on the security risks you anticipate and how your employees and customers feel about being monitored.
  • This article is for business owners who are considering installing an on-premises video surveillance system at their store or office.

Every business owner wants a safe, comfortable and productive working environment for their staff. One way to help achieve this is to install surveillance cameras in the workplace. When implemented properly, surveillance cameras can deter theft and other adverse events, while also keeping employees accountable for their work and actions.

However, businesses that choose to install video security systems must do so with care. Surveillance cameras have legal implications, including consideration for people’s rights to privacy. Business owners should research the relevant laws and follow best industry practices regarding surveillance to prevent negative outcomes.

Not sure if video surveillance is the right security option for your business? Here are some pros and cons of surveillance cameras in the workplace, plus best practices for implementation.

Video surveillance pros

Installing a video surveillance system can offer a host of benefits for your business:

It provides security.

Surveillance cameras at the entrance of your business and inside the office can offer an overall sense of security. Video feeds can monitor who comes in and out of the building, which can deter intruders and make employees feel safer.

It reduces workplace crime.

Video surveillance can reduce the incidence of workplace crime, both external and internal. Those looking to break in are less likely to try if they see a surveillance camera at the entrance, and those who do are more likely to be caught after your team reviews the video footage. This same principle holds with internal theft: If employees are aware they’re being monitored, they’ll likely be discouraged from stealing from the office or store.

“The most significant advantage of setting up video surveillance cameras is it helps prevent crime,” said Glen Levine, co-founder and senior partner at The Law Offices of Anidjar & Levine. “The sight of a camera alone could deter a person from committing a crime, and if someone committed a crime, the footage from the cameras could be used as evidence.”

It helps prevent workplace harassment and violence.

Employees who experience workplace harassment and violence might be afraid to come forward or may not think the issue is “bad enough” to warrant investigation. One way to reduce the incidence of violence and assault is to install conspicuous video surveillance. Potential perpetrators are less likely to engage in workplace harassment if they know they are being watched – and even if they do, victims can come forward with evidence and without fear of repercussion.

It cultivates a productive work culture.

In addition to preventing negative events, surveillance cameras can create a more productive work environment. Employees who are aware of video security systems and other monitoring techniques are likely to work harder and waste less time, especially if there is an incentive for productivity.

“Employees tend to have better work ethic if they know someone is watching,” said Kim Chan, founder and CEO of legal tech platform DocPro. “They tend to come in and leave on time, plus work harder.”

Video surveillance cons

Video surveillance is not without its downsides. Here are a few to consider:

It could feel invasive.

While video surveillance can increase productivity, it can also have a negative effect when taken to its extreme. Employees may see the cameras as proof that their employer doesn’t trust them and is watching their every move. This is particularly true when monitoring extends to areas such as break rooms or when more extensive surveillance systems are established.

It can increase stress in the workplace.

While surveillance cameras in the workplace might give some employees peace of mind (as mentioned above), it could also backfire in this regard and actually increase employee stress. Team members may worry about whether their actions are perceived as “productive enough,” potentially leading to decreased productivity and burnout.

It sometimes provides a false sense of security.

Workplace surveillance cameras are great tools to increase safety, but they are not a replacement for the vigilance of employees and any security personnel. If companies implement video surveillance without actually monitoring them or taking other protective measures, they still leave themselves at risk for security breaches.

It can be expensive.

Between the equipment itself and wiring or installation charges, security cameras can often run up a hefty bill, which can be a burden for small businesses.

Video surveillance best practices at work

If you’ve decided to install a video surveillance system in your workplace, follow these best practices to avoid unwanted consequences.

1. Check state laws.

Before installing security cameras, make sure your intended usage of them complies with the law. Exact video surveillance laws vary by state, and some states do not have any specific workplace privacy laws at all. Broadly speaking, however, video surveillance should not infringe upon reasonable expectations of privacy.

“Surveillance cannot happen in a restroom or in a room where employees change into uniforms,” said Francine Love, founder and managing attorney of Love Law Firm PLLC. “If the room has a reasonable expectation of privacy, then the employer is well advised to not put a camera there.”

Levine noted that audio recording is most likely not permitted for workplace surveillance, so check your local laws before establishing a surveillance system with an audio component.

2. Involve your HR and legal department.

Your company’s HR team is an invaluable resource when it comes to workplace surveillance laws. HR can ensure that any security practices are reasonable and effective, protecting employee privacy and potential employer liability. Additionally, they can help communicate with employees about your video surveillance and any concerns your employees have.

You should also consult your business’s legal advisor or a reputable attorney who specializes in employment law before using a video surveillance system.

“Many employers are unaware of the privacy law requirements in their jurisdiction, and they set up surveillance systems that are out of legal bounds,” Love said. “This can cost them far more than the amounts they were attempting to protect.”

3. Be transparent with employees.

“Under the personal data privacy law in most jurisdictions, employers will need to let the employees know that they are being taped, the purpose of the surveillance, how the recordings will be used, and how long the recordings will be kept for,” Chan said. However, being as transparent as possible with your team is always a good practice, especially when it comes to surveillance.

Employees may feel uncomfortable with the idea of being monitored at first, but if you are transparent about your video surveillance system and its purpose, they’ll likely have fewer concerns. This should mitigate their feelings that you’re installing the cameras to spy on them or that you lack trust in them.

“Speak to the employees to see if they mind having such a system and, if possible, get their consent,” Chan added. “You do not want resignation or HR issues resulting from setting out surveillance cameras on employees without notice.”

4. Respect employees’ privacy.

Surveillance cameras installed in conspicuous spaces (such as main offices or storage rooms) generally do not cause privacy concerns. The issue arises when video cameras are installed in areas such as break rooms or if more invasive security methods are implemented. It’s important to consider any data privacy obligations that could be violated in the process, and avoid collecting this type of data.

5. Choose the best video surveillance system for your business.

If you’ve decided to purchase video surveillance equipment for your workplace, consider which system makes the most sense for your company’s needs. Here are some factors to keep in mind:

  • Type of camera. The two main types of video surveillance systems are Internet Protocol (IP) and analog. IP cameras offer network connectivity and more features than analog cameras. Storage systems also vary by camera type.
  • Necessary features. Consider when and where your business needs protection. For example, a business looking for after-hours security enhancement would benefit from night vision. If you’re installing cameras outdoors in areas exposed to the elements, it’s best to choose a weatherproof camera.
  • Installation. Small businesses using only one or two cameras may be able to install the system on their own, while larger companies with multiple locations might need to pay for professional installation.
  • Budget. The price of your video surveillance system will depend on the size of your business, how many cameras you need, and any additional features you require.

Pros and Cons of Surveillance Cameras at Work [BusinessNewsDaily]