A recent Robert Half Finance & Accounting survey shows little-to-no changes anticipated in the upcoming second quarter’s hiring for accounting and finance positions. Over 90 percent of those surveyed expect to maintain their current personnel levels and a mere four percent plan on adding jobs.
On Wednesday, March 14, Senate passed a $109 billion transportation bill that includes a commuter tax benefit that allows mass transit users to take $240 of their pre-tax income every month to pay for these transportation costs. There was a previous consumer benefit in place for 2011 that allowed for $230 a month in mass transit expenses, but that measure ended in December of last year. This current transportation bill must now pass the U.S. House of Representatives.
So you have an idea that you think will make for a successful business? Stop right there! All businesses begin with an idea; and the initial research, investigation, and fact-gathering done before actually opening up a business may be tax-deductible under the general umbrella of legitimate startup expenses. While there are many specifics, and consulting a knowledgeable business lawyer and/or accountant would be most beneficial, writing off startup costs for new businesses is possible.
Americans may be unemployed in record numbers, but according to a recent Manpower Group study many employers are struggling to find qualified workers for vacant positions within their companies. It’s not that companies don’t want to hire; they need these skilled laborers desperately. But as more and more people stay unemployed for longer periods of time, they are unable to hone their skills, and specific technical knowledge is lacking amongst the general pool of job applicants.
Efficiency is a strength which is intrinsic to a successful workforce. In addition, fine-tuning company expectations/goal-setting, helps to delineate what is needed from staff. It is easy to draft best-case-scenario plans for the running of any business, but when a wrench is thrown into the works, how will employees respond? Turnover of staff is an example of a situation where efficiency might be compromised due to employee – and job duty – changes. Turnover, in general, can wreak havoc on an organization; there are huge financial costs related to turnover of staff. The best way to minimize the costs associated with turnover is to focus on hiring, and retaining, the best talent.
In a recent survey, over 80 percent of benefit directors indicated that their employees were not financially prepared for retirement. As well, a common woe of the American worker is whether or not Social Security benefits will exist in the coming decades. 401(k) plans are one of the most significant tools for retirement investment available to workers. Participating in these employer-sponsored plans may seem like an option available only to employees of large organizations. 2006’s Pension Protection Act created several benefits for small businesses wishing to implement 401(k) programs for their employees. There are many ways in which offering an employer-sponsored 401(k) can benefit the owner, or small business, itself.
Any successful business – small or large – runs most effectively when the when there is efficiency in financial operations and in the behavior of its personnel. Historically, in larger firms, the acquisition and maintenance of talent has run through the Human Resources (HR) department. Financial concerns are oftentimes worlds away, under the watchful eye of the Chief Financial Officer (CFO). Changing trends in business, however, are merging these two once-foreign categories and linking HR operations to the CFO and financial team. In smaller companies, this shift makes sense; aligning HR with financial concerns allows for a better focus on the ways in which managing employees – before, and after hiring – results in a more productive operation.
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