employees - Blogs - Black Business Women Online

Opening and running a business is a challenging endeavor, and this is especially true for the businesswomen of the world. In America, women only own 30 percent of all businesses, and sadly, first year capital funding for women running companies is 80 percent lower than our male counterparts. These overwhelming disparities make it imperative for female business owners to get ahead in as many ways as possible, but there are still many positive things going on for women in business, and smart business decision-making will continue to increase those positives. Good networking, business education, and smart money moves like payroll outsourcing can mean a huge step that direction.

Employee Productivity

There's no doubt that doing payroll is a hassle. For business owners who choose to handle their payroll in house, they take on this hassle themselves. This is far from ideal because this hassle reduces workforce productivity. Just imagine how long doing all of the payroll activities (ie. paychecks, taxes) takes any employee; now imagine what they could be doing instead. It's important to factor in the big picture when running a business, and in such, business owners need to recognize that the cost of outsourcing payroll may be far less than the cost of the tasks that won't get done because time is being unwisely spent.

Money and Savings

Outsourcing a company's payroll is a quick and simple way to save money. Larger corporations likely have the funding and necessity of having large payroll departments, but smaller businesses don't have, nor do they need, the luxury of doing this. The labor costs related to having an employee handle payroll can become overwhelming. In fact, the money saved by outsourcing payroll can even help a company grow. Every dollar saved is a dollar that can be reinvested into the company, and there's no doubt that this will help a business grow exponentially in the long run.

Accountability

Any business owner who does her own payroll has felt the fear of wondering what will happen if something is incorrect on their payroll or taxes. Fortunately, when payroll is outsourced, this accountability lies with the payroll company. It is their responsibility to handle and correct any mistake that they make. If for some reason they choose not to, they can be held liable in civil court and made to pay damages. This peace of mind can go a long way.

Compliance

Ensuring accurate compliance with payroll and tax laws isn't the only legal worry that a person having their payroll done in house will have to consider. The simple fact is that if a company has their own employees handle payroll, they will need to provide security measures. No matter how much a person trusts their employees, they can't chance that certain abuses may be occurring behind their backs.

Payroll companies make a living by providing payroll services, so they have security measures in place that are designed to keep shady practices from occurring. If something like this does occur however, as mentioned earlier, the payroll company is fully accountable and will handle the issue accordingly. This takes a huge hassle off of the hands of the business owners and frees her up to manage the big picture and tend to the myriad other things that need her attention.

If you can identify one change that is almost certain to positively affect your business's growth, there's no reason to avoid making that change. Outsourcing payroll may seem like an added expense, but in reality, it will end up saving money and lessening the items on the critical to-do list. There are enough glass ceilings over female business owners as it is, there's no need to create an extra one.

Having operated her small business for the past seven years, Akilah Richards knows first-hand the benefits of outsourcing. She practices what she preaches by hiring outside help for various facets of her business, and will certainly add payroll experts to her list of priorities when she starts hiring employees. Learn more about the benefits of outsourcing payroll from the payroll outsourcing specialists at NEBS PAYweb.ca.

Photo Credit: http://www.flickr.com/photos/firechickenta99/3479600161/

Employers invest valuable time and money in efforts to hire and train honest employees. However, many employers may eventually find that their supposed ‘cream of the crop’ new hire was not as honest as he/she appeared to be. Contrary to the company’s efforts, chances are many employees may not always have the company’s best interest in mind when they are hired. Over time, some employees may develop tendencies that negatively impact the company’s mission or goals. In these instances, the employee can quickly become a huge liability and cost the company hundreds, if not thousands of dollars in losses. Private Investigators are a valuable resource businesses utilize to prevent and deter many fraudulent activities in the workplace. There are many ways businesses can benefit from hiring a Private Investigator. The most common reasons for hiring Private Investigators are for background checks and investigating employee theft.When businesses grow, the excitement often leads to large hiring spurts. In the midst of all the hasty hiring, the need to conduct a thorough background check can sometimes fall through the cracks. Calling a few personal references is not the same as conducting a thorough background check. Hiring quality employees requires serious due diligence. Some businesses mistakenly utilize old internet databases offered by “internet detectives” whose reports do not accurately depict an individual’s background. For example, a company called “Consumer Advice” conducted research to determine the accuracy of such reports. Out of more than 100 internet sites they reviewed, 80% of them did not deliver correct information. (www.consumer-advice.org/BackgroundChecks). A Private Investigator can benefit businesses when accuracy matters. Private Investigators can read deeper into the retrieved data by recognizing potential “red flags” that inexperienced researchers may overlook. A red flag can range from anything like an invalid Social Security Number to finding no record of an individual’s degree or certification. A red flag may even be an active warrant. As a matter of fact, one company had a high price to pay for neglecting to conduct a thorough background check. Case in point: Two employees of a cleaning company were cleaning a home in California. While working in the home, the two apparently roamed around, casing the alarm systems, doors and windows. The pair had previously spent hours in the home as carpet cleaners before they devised their scam. They left the home, only to return several months later to rob the place. The armed robbers were caught ransacking the home and wound up shooting the homeowner. As it turns out, both men had criminal records and felony convictions before they were hired. Needless to say, the company who hired them was charged with negligent hiring and was ordered to pay $11 million in damages. (www.microsoft.com/smallbusiness/resources/management/recruiting-staffing/you-cant-skimp-on-employee-background-checks.aspx) Having a Private Investigator discover and address those types of red flags and hidden issues before employment begins is much easier and less costly than attempting to correct a problem uncovered after employment begins.Employee theft may come in many forms. It’s not just about employees taking a few extra ink pens home but may include anything from stealing time, cash and property to employees filing fraudulent Worker’s Compensation claims. Over time, employers may become targets for theft because employees learn their internal systems too well and eventually learn their weaknesses. Time and opportunity may be all an employee needs to commit such crimes. Employee theft costs American businesses billions of dollars each year. The U.S. Chamber of Commerce estimates that employee theft costs American businesses in excess of $40 billion annually. The Chamber of Commerce also reports that an employee is fifteen times more likely to steal from an employer than a non-employee. Private Investigators work with businesses everyday to identify and prove fraudulent insurance claims. Some employees may even stage workplace injuries in order to file for Worker’s Compensation Benefits. Fortunately for businesses, Private Investigators frequently reveal the people who lie about the severity of their injuries. In fact, the majority of the Worker’s Compensation claims that I have personally investigated have proven to be false. Covert investigations of these false claims help businesses save thousands of dollars by reducing the number of insurance settlements that are awarded to undeserving employees.Employers must be vigilant in their efforts to conduct proper background checks and reduce employee theft. Experience has shown that Private Investigators help businesses increase their bottom line by helping them prevent, deter, and investigate various unfavorable workplace situations. A well planned and executed investigation by a licensed Private Investigator can be an effective way to identify those involved with theft and prevent it from recurring. An effective investigation allows employers to have a solid basis for taking corrective action to protect their assets and enables them to seek prosecution against the person(s) involved in the crime. Let’s face it. Businesses are in business to make profit. Regardless of the method in which the crime is committed, your business’ profitability is adversely affected by employee theft and mediocre background checks. Fortunately for business owners, utilizing a set of “private eyes” can help keep their money where it belongs – in their pockets instead of those of dishonest employees.

Note: this page contains paid content.

Note: this page contains paid content.

Note: this page contains paid content.

Note: this page contains paid content.