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Making Corrective Distributions in Your 401(k) Plan

Posted by Gil Castillo   |  Jun 6, 2017 4:00:12 PM

Do you offer a 401(k) or other retirement plan to your employees? If yes, it's wonderful that you assist your employees in planning and saving for their future! Like many other financial areas in your business, though, your 401(k) plan requires some oversight to avoid trouble and Internal Revenue Service (IRS) penalties. Make sure you familiarize yourself with these rules regarding contributions and the possible need for corrective distributions from your plan.

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Top 7 Mistakes to Avoid with Your Employee Handbook

Posted by Karen McGee   |  May 10, 2017 4:44:57 PM

An employee handbook is a living document for any organization and exists because they set the tone between the employer and employee, acting as a valuable communication piece. Inside every employee handbook, you can typically find historical information about the company, policies, procedures, and an explanation of benefits, among other things.

It is important to create a well-written employee handbook, and regularly revisit the content to ensure it aligns with any new laws or regulations that could impact your organization or employees. A well-drafted employment handbook is able to minimize an employer’s exposure to employment-related lawsuits and increase an employer’s likelihood of prevailing when litigation cannot be avoided. 

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Employee Versus Contract Worker: Which Should You Hire?

Posted by Karen McGee   |  Apr 18, 2017 2:50:49 PM

Hiring an employee versus a contract worker can lead you to ask a variety of questions about the differences between the two, but the type of work you need in your organization will ultimately determine the best choice for you.

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3 Key Employment Laws That You Need to Know

Posted by Norman Paul   |  Apr 12, 2017 11:51:28 AM

Operating a business comes with great responsibility to not only your customers but also to your employees. It is important to understand key employment laws to make sure you stay in compliance with the law and don’t jeopardize your business or the safety of your employees.

Here are three key employment laws to keep in mind that will help manage your employees.

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5 Fantastic Benefits of Having Remote Employees

Posted by Greg Hermanson   |  Mar 15, 2017 5:27:57 PM

Recruiting and retaining employees in our fast-paced, digital world is no easy task for business owners. To compete in this new era with tech-savvy millennials, the first step is recognizing the evolution of the employee. There aren't many speed limits on technology, so it's resulted in easier ways for employees to communicate, be productive, and deliver services from a remote location. This means it's no longer necessary for every employee to wrestle with a bumper-to-bumper morning and afternoon commute. Sound unconventional? Well, it's becoming the norm for a lot of businesses—3.7 million employees work from home at least half time—simply because it yields huge advantages. Frankly, remote employees are often more productive than on-site employees, which can save companies money in the long run. 

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3 Laws that Affect the Interview Process (And How You Can Avoid Breaking Them)

Posted by Karen McGee   |  Feb 9, 2017 1:14:41 PM

Hiring the right employees is a critical business function. With a vast number of potential candidates, finding the right fit for your company is not always as simple as reading over a resume and cover letter. The interview process is a vital component of hiring procedures, but it can also be stressful and time consuming. Further, the type of questions hiring managers ask could potentially be a violation of the law. There are several laws that affect the interview process, and today, I'll cover three of those laws and go over how to phrase interview questions so that you can get the answers you need to make appropriate hiring decisions, while ensuring the candidates' rights are not violated.

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Financially Protect Your Employees By Offering Voluntary Insurance

Posted by Gary Birdwell   |  Feb 2, 2017 4:04:25 PM

Providing health care coverage to eligible employees is a requirement for many employers under the Affordable Care Act. The intricacies (and expense) of complying with the requirements can be complex, but of course, the non-monetary advantages of providing your employees with health benefits—a happier, healthier workforce, higher productivity, more competitive recruiting—can make the time and energy spent by your benefits team well worth the effort. 

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The Importance of Women in the Workforce

Posted by Linda Hummel   |  Jan 26, 2017 11:02:00 AM

Women comprise a significant segment of the workforce. In fact, according to the Bureau of Labor Statistics, women share 46.8% of the total labor force in the United States. So, what does that mean for business leaders? Well, approximately only half of American women participated in the workforce in 1980, compared to nearly 80% of men. And, while the number of women working today is a substantial increase from past years, there’s still a lot that can be done to increase the number of women who are not only part of the workforce, but remain engaged and active throughout their careers. 

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Affordable Care Act Requirements Taking Effect in 2017: Vol. 2

Posted by Bruce Massey   |  Jan 24, 2017 2:03:00 PM

The Affordable Care Act (ACA) has many changes coming down the pike in 2017, and to help your business prepare, we are featuring a series of posts that explain each change and provide direction on what your company can do to develop a compliance strategy. Volume 1 of this series explored plan design changes including grandfathered status, cost-sharing limits, and health FSA contributions. This post, Vol. 2, will cover Summary of Benefits and Coverage (SBC).

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Affordable Care Act Requirements Taking Effect in 2017: Vol. 1

Posted by Bruce Massey   |  Dec 13, 2016 8:22:00 AM

The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted in 2010. While many key ACA reforms took effect in 2014 and 2015, there are still a number of requirement changes coming up in 2017.

In preparation for these changes, we’ll be featuring a series of posts to walk you through these new requirements and help you develop a compliance strategy. This post, Volume 1, is focused on plan design changes.

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About BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers. Come here to learn tips and best practices for risk management, operational improvement, employee retention, and more!