When debating a job offer, most employees consider the benefits offered as a huge part of the final decision. In fact, according to a study by PeopleKeep, 93% of employees consider paid time off as a highly important company perk. That’s why in this article, we dive into the world
Employee benefits play a pivotal role in maintaining a strong workforce. While most companies offer conventional perks like paid time off, health insurance, and retirement plans, there are numerous innovative benefits that can set your business apart from the competition when it comes to attracting top talent and keeping your
Due to the tourist seasons in Maine, many businesses are extremely busy during certain times of the year and slower in other times. There are also many seasonal employers that only operate in certain seasons. Either way, seasonal workers are in high demand for most Maine businesses, or those in
There are many different types of benefits that help drive employee engagement and retention. One type of benefit plan that does this is known as an employee stock ownership plan (ESOP). In this article, we will take a look at what an ESOP is and how it works. What is
The day-to-day grind of owning or managing a business in the hospitality industry is stressful. Adding HR related issues such as hiring, employee retention, scheduling, labor laws and more, on top of that can leave owners feeling overwhelmed. Let’s take a look at the top HR challenges for hospitality businesses,
On June 24, 2021, Maine’s government signed An Act to Promote Individual Retirement Savings through a Public-Private Partnership into law. Created to help against the growing retirement crisis in Maine and across the United States, this act makes Maine the latest state to require certain employers to either provide an
Why is work – life balance important? Most employees strive to achieve and surpass the goals and expectations that their managers set for them. Often times, this desire to outperform expectations results in what is known as burnout. You are dedicated to the organization by being the hardest worker. This
HR Challenges Facing the Healthcare Industry While the healthcare industry has always faced numerous stressors, the COVID-19 pandemic added extra layers of complexity for those in this field. Post-pandemic, significant changes to the workforce have occurred. These changes, along with added legislative compliance challenges, have enhanced the day-to-day stress of
What is 401(k) profit sharing? Around the holidays, many businesses consider providing bonuses to their employees. Some businesses choose to provide their employees with a year-end bonus in a slightly more unique way than just a normal cash bonus. This is done through 401(k) profit sharing. Let’s take a look
How to handle a bonus payroll Employers need any advantage available to them in order to attract and retain top talent. Above market wages and strong benefits are some of the top ways for businesses to stand out above the competition. Once a business is financial stable, providing bonuses to
One of the more effective practices businesses use to hire and retain employees is offering a strong benefits package. As with any aspect of payroll, once a business begins offering fringe benefits, tax compliance issues arise. Let’s take a look at how taxes work on employee benefits. What are fringe
There are many ways to motivate your employees. Offering competitive pay, a strong benefit package and an inclusive work culture promote employee engagement. Another way to push your employees to produce results is to offer them a performance based compensation package. Continue reading for more information and best practices on
Owning a business comes with many responsibilities. There are the day-to-day operations, the thought of keeping your employees engaged, the tedious balancing of your finances, compliance challenges, and much more. Establishing a foundation of knowledge is key to overcoming these obstacles. There are particular questions that all business owners face
As your business continues to grow, the likelihood that an employee will need to use company funds to make a purchase increases. The process in which your business handles these situations is know as expense management. Let’s take a closer look at what expense management is. What is expense management?
In the world of business, from the smallest startups to largest brands, one thing remains constant: employee onboarding. Smaller companies may keep it simple with a two-step process, while larger ones navigate through a more intricate multi-step journey. Regardless of the scale, one thing is clear: the success and engagement
There are many things to consider when offering an applicant a position within your company. The salary of the position is probably the first thing a potential candidate will look for. After the position’s salary, the benefit package that you offer will be a key to attracting and hiring new
The best way to keep your employees happy and your business thriving is by consistently paying your employees on time. In order to achieve this, you have to understand when your payroll provider requires your payroll to be submitted. Every payroll vendor has different deadlines on when you need to
One of the most difficult challenges facing businesses today is employee retention. Employees are leaving their current companies for better opportunities in record numbers. This turnover can cause headaches in the day-to-day operations of any business. Other employees need to pick up the extra workload while new hires are interviewed,
Tips for hiring and retaining strong employees In today’s times, hiring and employee retention are not easy tasks for any company. Below are a few areas, in which you can focus your time and energy, to increase your chances of attracting and retaining strong employees. Creating a hiring and