Hiring Employees for Your Business

Hiring Employees for Your Business

Hiring Employees for Your Business

There are many different types of businesses that a person can operate. Some businesses can be run by a single individual, while other businesses will require more than one employee. The truth is that, most business operations will eventually need employees if they want to remain competitive and profitable. While hiring employees is often necessary, it is not an easy process. Employers who hire people to work for them must understand and follow employment laws. They will also need to know how to choose the right type of people for their organization. Here are some basic hiring regulations and rules that can be used by businesses for hiring employees.

Decide on the Type of Employees You Want to Hire

There are two basic types of employees that can be hired by any business or organization.They are independent contractors and wage or salaried employees. Independent contractors must use a W-9 for tax purposes and wage or salaried employees must use a W-2. The W-2 and W-9 ratings are necessary for tax purposes. If a business hires an independent contractor, they will be responsible for paying their taxes. Employers who hire hourly or salaried employees are required to take their taxes out before they are paid. The IRS has created Publication 15 which is a pamphlet that tells employers how to classify their employees.

Employers Must Provide Specific Tax Forms for Their Workers

There are certain tax forms that employers must use before and during the time they hire an employee. Form W-4 is necessary for employee withholding exemptions and a W-2 form which is necessary for reporting employee earnings and taxes within a given year. Form 941 is an employer’s quarterly tax return which has to be filled out every three months. Form 940 is used for reporting an Employer’s Annual Federal Unemployment Tax Return. This is filled out whenever an employer pays at least $1,500 in wages during a single calendar quarter or if they had at least one employee that has been employed for 20 or more weeks within a given year.

Employees will also need an employee ID number so that the government can track their earnings and they must fill out an Employer Tax ID or form SS-4. They will also need to fill out an I-9 form to ensure that employees are legally able to work in the U.S. Employers must also report their employees to the state.

Quick Tips for Hiring Employees

Here are some quick tips that can be used for hiring employees.

Hire a person with the attitude and desire for a position over a person that is qualified for the role. Chances are, the person with the desire is going to stick around a lot longer than the other type.

1. Hire Fast and Get Rid of Them Quickly

If an employee is not performing their duties or is not living up to a business’s expectation ,he should be immediately fired. Also, an employer should fill positions as quickly as possible because if he does not,he will end up losing money and time trying to fill it.

2. Evaluate the Vacant Position

Roles change as companies grow and change. So, if a person is being selected for a specific role, the hiring personnel should make sure that the role is still going to be around in the future. A potential candidate should also be flexible enough to change with the role he is being hired for.

Employers should also evaluate a candidate’s personality and his ability to get along with others.
These simple guidelines can help an employer to get the most out of the hiring process.

A Little About 401(K)

A Little About 401(K)

A Little About 401(K)

In the 1980s, pension plans became too expensive for employers to keep paying the employees that didn’t work for them anymore. As a result, they replaced pension plans with 401 (k) plans, although they were at first intended as a supplement to pensions.

There are 2 kinds of 401(k) plans:

Traditional (the most common):

Traditional plans penalize you 10% if you withdraw money prematurely; taxes are paid upon withdrawal instead of when contributed, and you can’t access your funds without the 10% penalty until you are 59.5 years old or quit by the age of 55 and onwards.


Funds are taxed upon or before contribution so you don’t pay on withdrawal. You have free access to the funds after 5 years of holding an account.
These 401(k) plans allow you to set aside part of your paycheck and invest it in whatever way you choose. Options include target-date funds and bonds, stocks, and money markets in mutual funds. You can choose to put in as much as you like and as long as you stay under your salary amount, or a certain constant amount that the IRS limits annual contributions to, each year. You need to keep enough to live on though, and usually employers match your contributions up to a percentage of your salary (usually 3%) which is also figured into your annual limit.

Employers will sometimes restrict you from withdrawing their contributions, not yours, for a period of time before you can withdraw them. However, as stated above, it is probably not a good idea to withdraw at all even after that period of time since that would cost you quite a bit of money in penalties and lost interest, unless of course, you have a Roth 401(k), in which case, you have to wait 5 years.

The best strategy is to invest at least as much as the employer matches, and don’t withdraw until retirement. That being said, if the company goes down, you can still save your 401(k) by rolling over into a traditional IRA and avoiding the 10% penalty, or simply withdrawing the money and pay the penalty. If you go down, your elected beneficiary or your spouse gets the money.

Terms from Different Lending Authorities

Terms from Different Lending Authorities

Terms from Different Lending Authorities

Banks will often offer a service known as a line of credit. It is extended on behalf of consumers to any given worthy cause. They need to review expenses and get approved for a loan. It is an important first step on the way towards establishing a new business enterprise. Consumers need to sit down with a financier before they are given an allotment of capital. An unsecured loan may not be backed with regulatory authority and is susceptible to different issues. A lender needs to work within a given network before it is approved by any given team.

Options from PNC Bank

The team has introduced a concept known as Cash Flow Insight which builds the rapport of different institutions. It can be tried for free for around 3 months. It will give consumers an opportunity to evaluate the impact of their particular cash utilization. PNC Bank maintains a website that details the terms of the agreement. A little experimentation with the marketplace will bring prospective owners up to speed. They can collaborate with the bank to get an introduction on how these purchases should be applied. A limited time offer of $100 is provided to those that may be interested.

Communicate with the SBA

The SBA represents the Small Business Administration operating as a branch of the government. They will provide cash on demand on behalf of consumers dedicated to new projects. Terms and fees for government loans are included in the different lists offered to customers. Fair terms and services are rendered on behalf of consumers interested in new purchases. Additional funds are available at any given time, albeit at a few considerations. The SBA requires the completion of several important documents before these funds are distributed as needed.

  • Follow regulations closely
  • Repay terms for those interested
  • Unsecured loans for consumers
  • Special terms for business owners

Line of Credit through Wells Fargo

A flexible account will rapidly bring people up to speed on their purchases. Saving on interest and tracking expenses may keep consumers up to date on select deals. A business line of credit is a specialized loan that differs from other forms of lending. It needs to be set up within the confines of a strict legal agreement. Provisions are set in order to keep consumers up to date and ready to discuss important deals. A low fee, competitive rate is issued on behalf of teams hoping to maintain purchases through select sources. Wells Fargo will back their securities with a guarantee for projects on behalf of their consumers.

Follow the Terms of the Loan

New regulatory authority is issued on behalf of consumers who follow through on select purchases. The lender has to arrange deals and collaborate on unique purchases for consumers. New terms have to be arranged before any deal may be explained as well. Most of these terms are worthwhile and selective before the loan is finalized. A document and agreement may be composed in a way that will build the expectation of consumers interested in a unique deal. Terminology can include an overview and helpful rapport with a given official in the industry.

Is Crowdsourcing a Good Way for Hiring Employees?

Is Crowdsourcing a Good Way for Hiring Employees?

Is Crowdsourcing a Good Way for Hiring Employees?

Crowdsourcing may seem like the perfect means to attain the perfect end. However, in some cases, it can work to one’s advantage or work against it despite the fact that crowdsourcing is looked upon as being the easiest, as well as, the cheapest of all ways to hire new employees. The answer is that, it may depend on the type of company doing the hiring and if other employees do sit well with the idea, though crowdsourcing is viewed as being a very effective solution in its own way to hire employees who are very much needed to handle different aspects of a business place. The answer is still something that doesn’t come easy for some. Are they doing the right thing by hiring employees this way? The answer is one that may vary from those who do handle the hiring process in human resources. It may also be something different with each owner or manager of the said business organization. No two people will look at crowdsourcing in the very same way. Therefore, the option is something which must be weighed first, and this includes by everyone from the people in HR, right down to the CEO and owner of the business themselves.

Despite the fact that crowdsourcing has a lot of very valid aspects, it is still something that has its drawbacks as well, overall. These pros and cons are also something that must be examined closely as well before actually doing any crowdsourcing in general. One must also take into consideration the many types of crowdsourcing that is available out there too. You need to make sure that before you hire anyone by using this avenue know what type of crowdsourcing you will be looking for and need overall.

Employers indeed have many defined tasks that they need done for an affordable price. Nonetheless, what does come with the low price is that many people are willing to do the work for so cheap. How ascertain are you to look for the best candidates from the rest by using crowdsourcing as a job hiring platform? The answer is to do your research and legwork. You need to fully understand the good side and the bad side of crowdsourcing. The good side of crowdsourcing is diversity. You can look at hiring people with different skills for different things you need done. You can specify what you are looking for in crowdsourcing and get just the right someone every time. You can also make the project into a regular job or just hire them on a temporary basis until the job is completed. Crowdsourcing is infinite diversity in certain numbers. These certain numbers do add up each time. They are also representative of actual people who are potential employees for a business place. Crowdsourcing has also a bad side like there is no guarantee you will get what you are looking for in an employee. Hiring someone is always a risk and this applies to crowdsourcing too. You may think you have hired the best someone possible then it turns out they aren’t what you thought they were. This can also happen via the traditional routes of hiring as well. Another downside to crowdsourcing is making other employees feel left out in the cold. They may actually resent strangers coming in and taking over jobs. They may even fear that a crowd source employee take their own position with the company.

Is crowdsourcing a good way for hiring employees? The answer is yes and no. It is good in some aspects but not in others, and these good and bad things apply to each individual set of circumstances overall.

How to Fund and Open Your Restaurant

How to Open a Restaurant

How to Open a Restaurant

There are many different types of businesses anyone can try and open. One of the most popular businesses is a restaurant. Opening and owning this type of business is not easy to accomplish but if you put your all into it, it will definitely be rewarding to you in the end. Here are a few good tips to keep in mind when opening a restaurant.

The first and most important thing is determining a good business plan. Having a very precise and comprehensive business plan is a very critical component to have before you open your restaurant. In your business plan you should include your concept, your target customers, the menu, and possible pricing of each dish. You will want to include as much financial information as you can provide such as where your start up fund is coming from, and what your potential expenditures in the long run will be.

If you are applying for a business loan, you’ll need to consider many factors like, how is your credit score? If it’s poor, there are lenders that offer business loans for bad credit, such as Halo Capital that may be able to help you. You can also see Halo Capital on YouTube, where there are some really funny videos. But make sure to research rates and terms until you come to a decision about which lender to work with.

Also, include how you are going to hire and train employees, as well as how you will be able to cope with the normal problems that can occur when owning a restaurant? All of these questions must be considered in your overall plan.

You can’t open a restaurant without knowing what kind of food you want to sell. Having a food concept will allow some potential customers an insight as to what they can expect from your restaurant. Once you got the concept down, you can start making your menu. After that, you need to consider the type of atmosphere you are looking for. Some of the factors that you need to take into consideration include music, furniture, the outfit of your servers, the kind of dishes you will be using, and so forth. Again, this will all cost extra money, so you may need to take out a loan. Turning to banks for financing is not recommended if you need quick capital. Instead, go with alternative lending companies.

Start to plan on what type of service style you are going for. There are three types of styles which include quick service, mid, and upscale. Quick services are fast foods having cheaper priced menu with really quick and easy prep. Mid services are places just above the fast foods. They offer a decent priced menu and can include buffets in this range of service. Upscale places will pride themselves with extraordinary foods and perfect services. These are more of the fine dining places which offer expensive but of great quality foods.
The statistics of owning a restaurant is that, it is more likely to fail within the first two years. Starting this type of business does involve a lot of risks but it can also be fun and rewarding at the same time. Follow these steps; cover the legal side of things, and you will be well off on a great adventure of owning your own restaurant.

Grow Your Business with Online Marketing

Grow Your Business with Online Marketing

Grow Your Business with Online Marketing

Whether you run a bricks and mortar business, or you are starting an internet business and using fulfillment services, you need online marketing in order for your business to grow. Most business owners now recognize the importance of having a website, but just having a website isn’t enough, people need to know you are out there and for that. you need online marketing.

What is Online Marketing?

Online marketing is a way of introducing your business to a wider audience and letting them know you are out there. There may be hundreds of people who would appreciate your services or products but first they need to know that you are there, and that is the business of online marketing. This article offers some of the ways a business owner might engage in email marketing.

One of the things that an online marketer will concentrate on is something known as permission marketing. Essentially what this means is that you offer something, for example a free news letter about your business. Anyone who wants to receive your letter will need to provide you with their email address, when someone does this; they are in effect, giving you permission to promote your business. Whenever you have a new product or a free gift, you can notify the people on your list.

Some companies will favor those customers who’ve provided an email address with advance news of upcoming products or the occasional free gift. The gift is generally a digital product, a book, or newsletter telling them about any special offers you may have or advance notice of a sale. Occasionally you may offer discounts on certain products to those people on your email list.

Using a Blog

Most company websites now incorporate a blog. Blogging is a great way of marketing certain aspects of your business online. You might want to introduce a new product and let people know how it works and how it is better than other products of a similar type. Once you start a business blog, you should have a blogging schedule if you intend the blog to be an integral part of your online marketing. You can link to particular products or web pages within your blog but make sure that the general tone is friendly and engaging.

You may want to offer certain bits of information in the blog post itself and then say that if the reader wants to know more, all they have to do is provide their email address and receive the full text of whatever it is you were writing about. Permission marketing is one of the best tools in your online marketing toolbox.

Use Social Media

If you don’t already have a presence on social media sites such as Face Book and Twitter, then now is the time to sign up and start posting. Having a varied online presence is vital to marketing your business.

Commercial Property Mortgage

Commercial Property Mortgage

Commercial Property Mortgage

When a business is setting up, it needs an office and a physical location to operate in. This is true for many different types of businesses including food services and many others. When a person is looking for a place to open his business, he is going to need a commercial property. Many cannot buy this property outright. There are ways to get approved for a loan to purchase a commercial property.

Getting a mortgage on a commercial property is similar to getting a mortgage on a residential property. There are some other factors that play a role in the approval process for the loan. There are several things that will determine if a person will get approved for this type of mortgage.

The first thing that a lender will investigate is the value of the commercial property. They need to determine the fair market value of the building and any land that is included. The lender wants to make sure that he will not lose his money if the value of the property is low. The value of the commercial property will be based on the land that is included, the condition of the roof and plumbing systems, the size, location, the ease of accessibility, and the general conditions that the building and property is in.

The person who is looking to get a commercial loan must have a good credit history. A person with less than a perfect credit may still be approved, but the process is going to be harder. Commercial properties are usually more expensive than residential properties, and the lender wants to be sure that they will get their money back. Credit checks are used and a person must have a solid credit history. A lender will also look at the person’s income and the ability to make mortgage payments on their own home. The lender will need a proof that a person will be able to make the mortgage payments on the commercial property.

The size of a down payment will play a role in the approval process for a commercial mortgage. Lenders are facing a bigger risk and will often require a specific amount of money put down on the property. Some lenders will accept a 20 percent down payment while others may want as much as 30 to 45 percent of the total cost put down. The loan will be used to pay for the rest of the purchase price. A lender will determine how much money he will want as a down payment after he figures out the loan-to-value ratio of the property.
Opening a business contains a lot of work especially if a person has to invest in a commercial property. A person can make a lot of money if he finds the right property, and put the time and effort into making the business successful.

Advantages Offered by Business Technology

Advantages Offered by Business Technology

Advantages Offered by Business Technology

Since the introduction of call lines and phone systems, business technology has  been vital to nearly every industry. It makes contacting easier and hassle-free whenever teams are getting together. New conference calls are made simple by streamlined tech that managers may implement in an office setting. Employees should follow industry shifts to understand the impact of technology on their niche market. New reviews will offer insight and accountability for the office to consider during any transitional period. It may give them a significant advantage of competitors in their market sector.

Rapid Transmission of Concepts

Discussion and implementation of new procedures will often be structured in a tiered fashion.
Office insiders will be looking to expedite a transition to make it worthwhile on behalf of those
hoping to succeed. Correspondence should be succinct but informative across all necessary levels. Applicants may work within the confines of an industry to secure access to the latest reports. Teams can exchange newsletters and send them to partner agencies for review that will bring everyone onto the same level for a renewed outlook on reports.

Coordination on Project Standards

Most employees have to submit projects and concepts that add to the standing of the company. Business technology can facilitate the process before it is completed. Frequent updates are allotted by virtue of new business devices on site. Office managers may delineate tasks for their team to follow during a standard work week. They can use devices to check their team members and get full reports on their progress. Standards may be met and exceeded when the new technology is mastered on behalf of an office team.

Financing New Tech Upgrades

Keeping pace with these advancements is a taxing endeavour for start-up companies. They should consider lending options if they want to stock their office with new features on site. Both private and public lenders have coordinated these upgrades in the past. They may have ties to the major brand organizations, giving new financial options for business leaders to consider. Most upgrades have to be handled in a systematic level before they are arranged. Some have found great success through C-Loans which combine efforts from both sectors for projects.

Cost Effective Implementation

Going back to the days of conference calls and public notice arrangements, telecommunication has elevated the performance of businesses. Advanced tech will speed up communications within an office and make it more affordable to send out messages. Weekly addresses and office notices may be orchestrated using a minimalistic budget. The upfront cost of technology is always something to be considered. But it has a long term potential that may be thought of as a plus.

6 Surprising Time Zappers That Rob You of Personal Time

Surprising Time Zappers

6 Surprising Time Zappers That Rob You of Personal Time

Businesses worldwide lose money every year totalling billions of dollars. How does this happen? This happens when employees essentially steal from their employers by claiming time and pay for work that wasn’t actually carried out. Our customers tell us that they have saved at least 2% of their wage cost by implementing a state of the art, modern time and attendance system. That’s over 5,300 per ten employees a year at the UK average earnings for 2012! So if you have 50 employees, that is 26,500 a year. Our systems cost a fraction of that amount.
Time theft comes in many forms, from late arrival and early departure, unnecessary social interactions, utilising company time to perform tasks for other companies, long lunch and break times, purposely becoming unproductive to acquire additional overtime hours, and conducting personal business on company time.
Time theft is widespread and not limited to any trade or industry. Any organisation with payroll can, and usually is, subject to time theft. Statistics indicate that those employees in permanent positions are more likely to participate in time theft behavior than a temporary employee. Additionally, the more senior the employees are, the more likely they are to steal time from their employer. Office staff are the greatest offenders, while those in the manufacturing steal less time than anyone. Workers under thirty years of age are much more likely to steal time than older ones.
For one thing, loyal workers are quite proud of providing very good attendance to their employers. It is not unheard that the purchase and implementation of the new technology in employee time and attendance clocks was made to calm those loyal workers who see what their fellows are doing and have complained about other employee’s late arrivals and early departures. Furthermore, implementing state of the art devices for tracking employee attendance empowers employers to record, and keep accurate and unquestionable time records.
Businesses who have made the switch from the old ways to the new employee time and attendance clocks have reported and experienced a significant number of benefits, including increased productivity, considerably fewer disputes over payment of time worked, accurate and legible records in tracking employee attendance, significantly greater respect for the employer’s time, and streamlining of the payroll processes. All of these benefits save the business owners’ money, free up a lot of time formerly lost to processing payroll, and allow the business owners, supervisors, and management to get back to the business of doing business!
Put an end to the rampant time theft within your business or organisation before your workers begin to view this stolen time as something to which they are entitled.
If you aren’t using a state of the art time and attendance clock, NOW is the time to seriously consider making this change.

3 Ways to Deliver a Flawless Customer Experience: Aligning Marketing, Sales, and Service

Flawless Customer Experience

3 Ways to Deliver a Flawless Customer Experience

The business of any company depends on the customer service and connection between the departments. If customers find a disorganized approach, the company loses reputation and business. To ensure the best customer experience, it is vital to align marketing, sales, and customer service departments. Large matrix companies have to develop some more complex structures for achieving their targets by sharing their goals, clear roles, and transparent communication.
Here are three convenient steps for the companies to ensure flawless customer experience.

Assess Current Process

Any company cannot progress until its weaknesses are not identified properly. Assessments allow companies to get a holistic view of their current processes and evaluate how they can meet the customer’s expectations successfully.
Real assessments are very easy to obtain through surveys which further help in identifying gaps in the communication and provide a framework for meeting them. Surveys reflect a complete assessment of the sales team performance, and where improvements are needed.

Build Collaborative Culture

A collaborative culture between the departments is essential for meeting the unique challenges that come in the way of the leading companies.
Trust among the team members and developed relationships are the foundations to ensure a collaborative culture, and it must be an ongoing effort. Collaboration is a delicate condition that needs regular consideration, but it is one of the necessary elements of ensuring alignment.

Introduce Service Level Agreements

After assessing weaknesses and building collaborative culture, companies should introduce service level agreements among the teams of marketing, sales, and customer service. For the most effective processes, these agreements must cover monthly goals. Service level agreements pave the ways to successes because members of each department have set roles in the group.
Furthermore, this agreement not solely defines the roles and goals but it also strengthens the collaborative culture by making data available to all other team members. Because of this, the company can review the progress of each department on a regular basis and can address the issues with the concerned departments in timely manners. Each team member must be aware of his role within the group and performance of the other members. All departments should be on the track where they can successfully increase the numbers of marketing and sales leads. Sales department must increase the number of calls or emails to their customers and find other ways that can be helpful to achieve their targets as per their agreement.
Role and target of each department may be slightly different but all members should seem progressing toward the same objectives of the big picture.
By doing these three things, you will see an overall improvement in the company and customer satisfaction.