Time Off, ACA Regulations and Your Small Business Clients
As you prepare to meet with your clients this fall, take the time to consult with them regarding the ACA and how they can ensure compliance.
As you prepare to meet with your clients this fall, take the time to consult with them regarding the ACA and how they can ensure compliance.
Small and mid-sized businesses added 63,000 jobs in April and 173,000 in May, according to ADP, but many business owners and managers find that their most talented staff – finding, nurturing, and keeping them – is one of their most challenging concerns.
Private sector employment increased by 172,000 jobs from May to June according to the June ADP National Employment Report.
For businesses, this could be the next big compliance challenge following the Affordable Care Act. So it’s concerning that many employers are not fully prepared to navigate the new rules.
The U.S. Department of Labor (DOL) is moving closer to finalizing the biggest change to overtime rules since they were established in 1938. That means potentially big challenges for companies as the proposed changes to the Fair Labor Standards Act (FLSA).
If finalized, these changes will make nearly five million new workers eligible for overtime pay as early as this year, unless their salary is raised.
The research revealed that nearly half of business owners do not know how many fines they incurred in the past 12 months or how much they cost their organizations.
The first quarter of each year is a great time for small business owners to take stock of their current operations, key HR administrative tasks and more, and determine changes they can make to help lead their companies to success throughout the year.