IN 2017, SMALL AND MID-SIZE COMPANIES ARE TRENDING TOWARD HIRING PEOs TO HANDLE COMPLIANCE AND HR.
2017’s Compliance Issues Reveal the Need for Small Business Owners to Get Some Relief: Drive By ADA Lawsuits, 70% Increase in OSHA Fines and Penalties, and 100% increases in poster penalties, too. We’re not even discussing ACA, FLMA, EEOC – you get it.
The Trump administration has promised some relief from business regulations with the President’s 2 for 1 executive order, but you won’t see much in 2017, and the reality is that compliance will continue to devour your time and resources – and there are new issues weekly.
Why go through all the hassle? Partner with STAFFLINK instead. We’ll handle all your compliance issues for you. We’re on top of all the continual changes. Go back to doing what you love to do, and let us serve you; our goal is to make you successful – it’s a trend for small and mid-size companies that Business Pundit and others have recently reported.
Let STAFFLINK handle your compliance issues. Our goal is to make you successful … spend your time building your company, and let us handle the time-consuming HR issues.
Call me, Abram Finkelstein, at 954-423-8262 to learn more about how simple and easy it is to let us simplify your life, and protect your business.
Donald Trump’s executive orders continue: This week, President Trump blocked the Department of Labor’s fiduciary rule for further study. The rule had been scheduled to phase in beginning in April. According to Investopedia, the rule demands that advisors act in the best interests of their clients, and put their clients’ interests above their own, leaving no room for advisors to conceal potential conflicts of interest. It also states that all fees and commissions must be clearly disclosed in dollar form to clients. In addition, the new rule adds brokers, financial planners, insurance agents and financial salespersons to the fiduciary level, increasing their financial accountability. Formerly, these individuals were protected as long as they provided ‘suitable’ investments; now, however, with the new rule, they are legally obligated to put their client’s best interests first. The new rule could therefore eliminate many commission structures that govern the industry.
FIDUCIARY RULE – AS STRUCTURED, HELPING OR HURTING EMPLOYEES
However, there is some concern that the new rule may actually be hindering employees from receiving advice and assistance with their retirement investments; therefore, the executive order delays the rule until an ‘economic and legal analysis’ can be performed … At STAFFLINK, we believe fiduciary protection is vital. We encourage you to review the STAFFLINK 401k for your company because it provides the fiduciary protections you need. You can watch a brief video that outlines six advantages of the plan, including its fiduciary protection, at the end of today’s post.
In Risk, Forbes posted a story entitled, “Why Cybersecurity Should be the Biggest Concern of 2017.” Written by a professional hacker, the article outlines the growing threat to business owners. The day after that post, it was disclosed that a Dallas hospital was fined 3.2 million dollars for HIPAA violations due to a security breach.
You can find some very helpful tips on protecting your company b7 reading our STAFFLINK blog post on the subject.
In Benefits, NerdWallet published an excellent article on the differences between FSA and HSA savings accounts, used, in part, to help employees deal with high out-of-pocket deductible expenses. The post provides a simple comparison of the different features of both plans, making it easy for you to choose the right one for your company.
In Management, the Business Pundit posted How to Decide if You Should Outsource Your HR – a story about the trend among small and mid-size businesses to outsource their HR to PEOs. The article provides a checklist that may make it easy to consider whether outsourcing your own company’s HR to a PEO makes sense for you; if it does, please contact STAFFLINK for a proposal so you can compare our services.
In Trends, Fast Company published the Top 3 Non-Profit Jobs of the Future. Of course, Data Scientist is one, but you may have a problem guessing the other two. The article provides information that may help you plan for the future regardless of your ‘profit’ or ‘non-profit’ status.
This first week of February is starting out as eventful as the month of January.
The most recent jobs report shows The Strongest Job Growth in 10 Years, according to today’s story in TLNT … Donald Trump nominated Neil Gorsuch, by all accounts a highly qualified jurist, to the Supreme Court; but the nomination promised to be a battle royale, not because of his qualifications, but due to the highly charged political environment. Whatever your politics, it appears Gorsuch will be a strong pick for small business – that story from our CNN Money … and, SHRM reveals that experts are forecasting a 3.2% increase in salaries for 2017.
President Trump also signed more executive orders (seven to date); some of which, like the Muslim immigration ban, created significant controversy. By comparison, though, Barack Obama signed 276 executive orders while president, including nine in his first two weeks; several of which were also politically controversial (Guantanamo Bay?). The Daily Signal believes Trump’s executive order calling for a 75% decrease in business regulations may provide a strong boost to small business …
Two stories about employee engagement made our list this week: first, several publications reported on Kraft-Heinz’s decision to forego buying a Super Bowl Ad this year, and give their employees a paid holiday instead. We liked the Daily Dot’s version of the story because it included last year’s Super Bowl Ad, which was a real dog (sorry) … and, we posted Daniel Pink’s Classic TED talk, The Puzzle of Motivation. The talk is 18 minutes, but well worth the time investment.
In Sales & Marketing, Business News Daily posted a story, “What is an Elevator Pitch?” The article explains the important of the pitch, and offers some helpful tips for creating a great one.
In Productivity, SHRM posted a story on The Workforce Burnout Epidemic. The article reveals some of the symptoms and causes of serious employee disengagement. On this issue, MindTools’s article, How to Avoid Burnout, provides a very good understanding of what causes burnout, how it differs from stress, and what can be done to prevent and deal with it – highly recommended.
Well, it’s Super Bowl weekend, and Houston is this year’s home of the event … we would be amiss if we didn’t include one of the best Super Bowl commercials this year – especially relevant in light of all the recent controversy about our neighbors to the south …
Now that Congress and the President have signaled their intentions to repeal Obamacare, all attention turns to its replacement. No one, including the Republicans, it seems, knows what will happen, but SHRM’s post, ‘How Trump’s Executive Order on ACA Could Afffect Employer Health Plans,’ provides some analysis that helps small business owners gain a better picture of the potential options that may affect their own health plans.
In Sales & Marketing, Inc.’s sage writer, Geoffrey James, penned ‘5 Marketing Megatrends Every Salesperson Should Know About in 2017′ – an insightful piece that describes the demise of some traditional marketing methods, and proclaims the superiority of one approach, though he admits most companies that employ it do it wrong. Find out which approach your company should be using in 2017 by reading his article.
In Productivity, Inc.’s Wanda Thibodeaux published an insightful article about the research behind body rhythms. ‘Why Working in 90-Minute Intervals is Powerful for Your Body and Business‘ explains why you are sharper at certain times, and how to capitalize on the daily chemical processes that affect your ability to think and produce … and, Entrepreneur posted a throwback video that contains some helpful information about ‘5 Ways to Handle Stress.’ The information summarizes several other articles we posted in 2016, but it is organized, simple to grasp, and sound – worth a view if you sometimes feel overwhelmed … Inc.’s 7 Simple Things Successful People Do Every Night is a good read that may help you improve your nocturnal habits.
In Trends, Mashable reported that Google Translate has now added Japanese to a list of languages that can be translated instantly by simply pointing your android smartphone at the text. You can find the Google Translate app at the Google Play Store, of course … and, we all know robots are going to replace jobs in the future, but Fast Company’s ‘Bet You Didn’t See This Coming: 10 Jobs Robots Will Replace‘ presents a surprising list of tasks robots will soon perform that may take you by surprise.
Inauguration day is here: Donald Trump was inaugurated as 45th president of the United States at 12:00p EST. It promises to be an activist presidency. If you did not see his speech, you can see the full speech here on CNN.
In Personal Productivity, three articles stand out this week: First, SHRM posted an article, Stressed at Work?, that provides a list of insightful articles that can help you deal with a number of different kinds of stressors – a good read … Inc. re-posted an article from Quora, 9 Toxic Habits that are Wearing You Down. The post provides you a list of the nine habits, and simple, yet helpful recommendations for dealing with each one … and, lastly, if you want a good night’s sleep, what you eat before going to bed can have a very significant effect – even two hours prior. We combined two different video posts from Business Insider to give you a list of the ‘Best Foods to Help You Sleep,‘ and also, ‘The Worst Foods if You Want a Good Night’s Sleep.’ Both videos show you four of the best and worst foods, and explain the research that led to each food’s selection.
Well, 2017 promises to be an exciting year. In trends, we spoke about automation. You are probably aware of the autonomous cars being tested by Uber, and autonomous trucks being tested in Europe; and, the autonomous delivery drones now being beta-tested by Amazon in the UK.
Along these lines, we’ll leave you with one of the best ads of the week, a brand new spot for Mercedes-Benz that features their new ‘remote parking pilot.’ The automation future is becoming mainstream.
The inauguration hasn’t even taken place yet, and the legislative battles have begun in Congress.
Senate Republicans began the process of dismantling Obamacare by passing a budget resolution that will prevent a democratic filibuster – that story in the Chicago Tribune. What will they replace it with ? No one yet knows – stay tuned.
The inauguration of President-Elect Donald Trump takes place next Friday, January 20; Senate confirmation hearings are already taking place on his nominees for the country’s top posts; and, President Obama issued his farewell address this week in Chicago. 2017 promises to be an eventful year …
And, our STAFFLINK OSHA Recordable Incident Advisor is a practical, simple to use calculator of sorts that enables you to gauge whether an incident at your company needs to be electronically uploaded to OSHA, in keeping with their new 2017 rules. Take a look, it may prove helpful to you.
There has been a lot of talk about the dropping unemployment rate, but what most people don’t understand is that the jobs that are being created are low-paying ones, and that the jobs lost are the kind that can provide for a family. SHRM’s post, Is Dropping Unemployment Rate Masking Under-Employment Trend? reviews the issue.
You will find a brief snapshot of our coming January ‘Small Business Trends’ report in this week’s blog. The blog post focuses on three of 2017’s important trends: video, remote employment, and app development.
And, as we approach the holidays, Lifehacker’s7 Ideas for Making the Most of Your Time Off During the Holidays is a practical read that may help you get ahead by the time you return to the office; idea number seven may not apply to many of you (find a new job), but thinking about ways to recruit and retain top talent may work well. You may want to refer back to The Top 6 Benefits Stories for a few good ideas because some companies are having success attracting new employees by altering their benefits packages.
As the holidays approach, we leave you with one of the top holiday shorts in the world: a three-minute video animation produced by Sainsbury’s in the UK … enjoy!
From All of Us at STAFFLINK, enjoy a safe and happy holiday!