Archive for the ‘Authors’ Category
What is it and how can it be controlled?
Unemployment Insurance is a joint program financed through federal and state employer payroll taxes. The Federal Unemployment Tax Act authorizes the Internal Revenue Service to collect a federal employer tax used to fund state workforce agencies. FUTA specifically covers the costs of administering the UI and extended unemployment benefits during periods of high unemployment. In addition it provides for a fund from which states may borrow, if necessary, to pay benefits. Generally, you can take a credit against your FUTA tax for amounts you paid into state unemployment funds. The credit may be as much as 5.4% of FUTA taxable wages. If you are entitled to the maximum 5.4% credit, the FUTA tax rate after credit is 0.6%. This tax is calculated on the first $7,000 of annual compensation making the maximum tax per employee $42.00.
The Fifth Annual White Paper from Robert Perry is a must-read for owners of contract security companies, as well as Private Equity Groups looking to make investments in this sector.
This White Paper is a comprehensive report that covers topics such as:
1. Defining the Market – Services the typical contract security company offers and the plans for expanding the menu. New insights into the matrix of the “Largest Companies” list.
2. Mergers and Acquisitions in the industry – the most active buyers and the multiples they are paying.
3. News on happenings around the world affecting the contract security industry.
In January, the D.C. federal appeals court ruled in the case of NLRB v. Noel Canning that President Obama’s January 2012 recess appointments to the NLRB of Democrats Sharon Block and Richard Griffin and Republican Terence Flynn exceeded the recess appointment power granted to President’s in the Constitution and thus the appointments were invalid. Therefore, the NLRB decision against Noel Canning was made with just two valid members of the five member Board. As three valid Board members are the minimum needed for a quorum to take Board actions and make decisions, then the decision against Noel Canning was too invalid. Since the D.C. Court ruling, in two other similar challenges to NLRB decisions, two other federal appellate courts have also ruled the NLRB recess appointments were unconstitutional and thus NLRB decisions in those cases were invalid. The Supreme Court will take up the Noel Canning case next term and there is a strong possibility that the Court will agree with the Noel decision and thus invalidate the Board’s decisions/rules/appointments requiring a quorum that the Board has made since January 2012. The specter of the mass annulment of Board actions/decisions, despite statements from the Obama Administration and the NLRB that the Board would not be deterred in its mission, has indeed, much to chagrin of Big Labor, caused the Board to adopt a “go slow” approach, especially in area of issuing regulations.
This year the SHRM convention, HR’s largest annual show, was in Chicago during the
Blackhawks vs Bruins Hockey match. Of course the only way I knew this was the big helmet
atop the lions adorning the front of the Art Institute! What a beautiful city bursting with
By Michael Busch
Founder, Valiant Restaurant Division
When someone provides a service, you may choose to leave them a tip as compensation or reward. Generally speaking, the better the service the larger the tip. But did you know that some restaurants, including Starbucks, require their employees to pool (or share) their tips with co-workers? And did you know that once tip-pooling becomes official store policy, it is the courts and not the customer that have final say regarding which workers are eligible to participate?
The IRS is bearing down to re-define classifications for workers in hopes of boosting revenue this tax season. Specifically, they’ll be taking a look at how independent contractors are treated under tax law.
Employees under probationary period, government assistance, and other discrepant forms of income acquisition will further be looked at as well. Get all of the facts in this Bonnie Lee piece for Fox Business.
Click here to view the full article.
On Monday, June 17, The New York City Hospitality Alliance hosted another packed seminar on What Health Care Reform means for the NYC hospitality industry.
The presentation was lead by representatives from the New York Health Benefit Exchange. It focused on what businesses that employ 50 or fewer eligible employees should know about the New York Small Business Health Options Program (SHOP), which will help small businesses and employees shop for and enroll in health plans.
The Presentation included:
What businesses are eligible for coverage through SHOP?
What are the participation requirements?
and much more…
Click here to download the full presentation
Click here for more information on SHOP
Two More Examples of the Benefit of “Corrective Action” in Bid Protests
Our January 2013 Alert discussed the “hidden benefit” of filing a bid protest: an agency’s decision to take “corrective action” instead of facing an adverse GAO decision. Two recent decisions by agencies to take corrective action in the face of bid protests filed by The Weinstein Law Group confirm the effectiveness of this remedy.
As expected, despite the protests from civil libertarians and privacy advocates, the much anticipated “comprehensive immigration reform” bill (S. 744) introduced earlier this week by the Senate “Gang of Eight” will require all employers — on a phased-in basis based on employee size — to use the E-Verify system to determine whether a new hire is eligible to work in the United States.(See Section 3101).
For as long as I can remember, industry experts claimed that the healthcare industry was basically guaranteed to remain a consistent and strong job market forever. The thought was there will always be patients and patients will always need healthcare providers. Now, I see that rationale is not quite as sound as we all once believed.
The Federal Sequestration, automatic budget cuts implemented on March 1, 2013, included a 2% reduction in Medicare payments to healthcare providers. If you don’t think 2% is all that significant, you are sadly mistaken. For many hospitals, for example, Medicare is the largest single payer, at times accounting for more than half the facility’s total revenue. In those terms, 2% is a monstrous reduction.
A joint study by the American Medical Association, The American Hospital Association, and the American Nurses Association predicted that the Federal Sequester would undoubtedly result in a decline in healthcare job growth. The impact will not only affect hospitals and physician’s offices, but will have a trickle-down effect including other healthcare vendors, such as suppliers and IT providers.
Unfortunately, we are already seeing the predicted downturn. According to the Bureau of Labor Statistics, healthcare made a “relatively weak” contribution to the job market in both March and April 2013. Further, the American Hospital Association thinks it may get worse, estimating that these budget cuts could lead to 766,000 fewer healthcare jobs by 2021.
All this at a time when healthcare reform hurtles forward and an estimated 32 million new patients will have access to healthcare in 2014. In short, more providers, supplies, and ancillary staff will be required to address this massive influx of patients at a time when Medicare reimbursement will be significantly decreased. CFOs in healthcare are worried, and with all this in mind it is no surprise. This means, every department, in every healthcare organization, will be required to cut costs. Human resources and recruiting departments will be no exception.
Today more than ever, healthcare recruiters need to take serious action to reduce the costs to fill job vacancies. For any newbies reading this post, I am referring to a standard metric, or measurement, called cost-to-fill. The costs-to-fill are the cumulative total of costs associated with recruiting, such as time dedicated to sourcing, sifting through resumes, and interviewing as well as direct costs associated with travel, relocation, costs of employment advertising, and onboarding. In addition to this, one must consider the cost of the vacancy itself. When a job is vacant, either someone needs to pick up that slack in the form of more expensive overtime or the vacancy simply results in additional losses in revenue. In short, vacancies are expensive.
No matter how you slice it, the key to bringing down costs-to-fill is automation. If healthcare providers want to survive, even thrive, they must eliminate the inefficiencies associated with humans performing processes that can be easily automated such as sifting through hundreds, even thousands of resumes to identify the a particular skill set. Unfortunately, healthcare has always been notoriously slow in terms of adopting information technology. The growing acceptance of electronic medical records, however, does seem to indicate that healthcare is beginning to warm up to technology. Still, automating processes in order to create efficiency does not end in the exam room.
Automation through recruitment technology is the key to reducing recruitment’s cost-to-fill. For example, automated candidate screening reduces the number of unqualified candidates that a recruiter reviews in order to find those that meet the organization’s needs. Other features include social recruitment and automated job board posting to healthcare specific job boards that broaden and target the recruiter’s reach. At the same time, recruitment technology facilitates and streamlines the communication between recruiters, candidates, and hiring managers. The combination of broad, yet targeted reach through employment advertising and improved communications ultimately reduces time-to-fill, which subsequently impacts cost-to-fill.
Gone are the days when email folders and filing cabinets could be considered as viable systems for searching and screening candidates. Operational efficiency is among the best ways to improve an organization’s bottom line and remain competitive. Manual recruitment techniques, filled with high resume volumes and no effective way to accept, review, and manage those resumes is a dangerous inefficiency. Without recruitment technology in place, a healthcare organization cannot maximize human capital efficiency.
If you would like to dive deeper into this topic to learn about the costs associated with manual processes and the return on investment associated with automation, download our Free Whitepaper titled: Healthcare Recruitment: Facing the Sequester.