The recent U.S. Senate passage of the Inflation Reduction Act extended subsidies for insurance coverage under the Affordable Care Act (ACA) by another three years. In other words, the ACA is here to stay. How the ACA affects small businesses The ACA established the Small Business Health Options Program (SHOP) for small employers (generally those with 1–50 employees) who want to provide health and dental coverage to their employees. Under SHOP, employers can decide between…
In its 2021 Global Human Capital Trends report, global consultancy Deloitte says that while the pandemic strained and tested the worker-employer relationship, “Thriving in an uncertain future depends on having a compelling vision for where that relationship should go.” Defining purpose for your business When articulating your business’s purpose, it may be helpful to think about your company’s mission, vision and values. According to SHRM, a mission statement is a concise explanation of an organization’s…
Working from home sounds great to many employees, and the pandemic has taught us that being physically present in an office isn’t always necessary. A recent Pew Research Center survey found that among those who are currently working from home all or most of the time, 78% say they’d like to continue to do so after pandemic precautions end. Some employees are finding, however, that they miss the camaraderie of their colleagues and the structure…
Employers today find themselves in a rather unusual labor market. Not only is it difficult to fill open positions, employees are reportedly ‘leaving their jobs in droves,’ according to a recent CNBC article. In August alone, 4.3 million Americans quit their jobs – either leaving the workforce entirely or in search of better pay and job security. If the thought of a mass exodus of employees from your business makes you shudder, here are a…
There has been much said about the deferral of student loan repayment provided under the CARES Act, but less attention paid to the option for employer-provided student loan repayment assistance. Both benefits have or were scheduled to expire until The Consolidated Appropriations Act, 2021 (CAA), passed at the end of 2020, extended the CARES Act student loan provisions to allow employers to make tax-exempt loan-repayment contributions of up to $5,250 through 2025. Employers looking for…
With the advent of the CARES Act on March 27, 2020, most employers were so caught up in deciphering the details of the PPP program that they overlooked another payroll replacement program: The Employee Retention Credit (ERC). The ERC was intended to encourage employers to retain their employees despite a downturn in business by providing aid to employers who experienced a significant decline in gross receipts during any quarter in calendar year 2020. Originally the…
More than a year after the start of the pandemic, the nation is overjoyed to see a return to normalcy and social interactions. However, employers are finding more and more employees suffering from burnout than ever and the costs may be high. Front-line and essential workers were hit hard over the last year, working increased hours in stressful situations while the rest of the world seemed to watch from the safety of home. Now that…
In order to keep their business competitive, today’s employers need to invest in professional development of the employees they have, if they want to keep them, else they may find themselves competing for new talent in a pool where skill shortages drive costs and limit replacement options. It’s widely known that employees with ready access to professional development opportunities with their current employer boast greater productivity rates and lower turnover. Development programs not only allow…
MarathonHR offers a Multiple Employer Plan (MEP) 401(k) for small and medium-sized businesses looking to save money on their retirement plans. A Multiple Employer Plan allows two or more unrelated companies to collaborate to offer their employees a 401(k) retirement plan. Recently, MarathonHR has changed the Multiple Employer 401(k) Plan provider to bring better value to all our customers. As a reminder, all MarathonHR clients are eligible to participate in our Multiple Employer Plan together….
Ahhh…vacation. We all love it and look forward to it. It’s not only a fun and welcome change of pace; research has found that vacations are actually really good for our health! Stress reduction, heart disease prevention, improved productivity, and better sleep are just some of the health benefits that vacation can provide. But have you ever wondered why employers would actually pay someone to take a vacation? The concept of paid vacation was started…
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MarathonHR Helps Thomas Eye Center Focus on Patient Care and Service