While the labor market can be a challenge in North Carolina, the relatively low cost of living and doing business is a plus. The tight labor pool means costs have risen somewhat, but they remain manageable compared to some other states in the region.
\n“There is a lot that North Carolina offers from a quality-of-life standpoint, including a relatively low cost of living, which makes it an attractive place for people to move with their families,” Crapps said. “The cost of labor – and living – has increased in recent years as a result of the successes the state has had, but it still tends to be comparatively lower than many of the markets that it competes against.”
\nAccording to Sperling’s Best Places research on the cost of living, North Carolina is more affordable than the average state in all of the major categories except healthcare. With 100 representing the average cost of living, North Carolina came in at 90.6 overall. The cost of groceries, housing and transportation are all below average. However, its healthcare costs come in at 107.5 on Sperling’s scale, which means they are higher than the national average. Employers should keep healthcare costs in mind when crafting benefits packages for employees, especially in a state where a competitive labor market makes such packages essential to attract and retain top talent.
\nTax rates in North Carolina are relatively low, earning the state the No. 11 spot in the nation from the Tax Foundation for business taxes. The top corporate income tax rate is 2.5%, which is significantly lower than in many other states, especially North Carolina’s northern neighbors on the East Coast. It is a full 2.5% lower than South Carolina’s top corporate income tax rate and 3.5% lower than neighboring Virginia’s.
\nThe state’s low business tax rates are offset somewhat by a 6.98% sales tax, which is ranked 26th in the nation but remains lower than North Carolina’s northeastern neighbors. The state’s top individual income tax rate, which applies to pass-through entities like LLCs, is 4.99%, while its neighboring states have higher rates: South Carolina’s is 7% and Virginia’s is 5.75%.
\n“I would say the taxation in North Carolina is favorable compared to most other states,” Zylstra said. “From where I moved from in Connecticut, I see the North Carolina tax policy as a huge boost to the state’s economy.”
\n“To me, [taxation and regulations] seem fairly relaxed, and the state overall seems to have an attitude of wanting to promote business and to make things as noncomplex as possible,” added Stan Kimer, founder and president of Total Engagement Consulting and vice president of training at the National Diversity Council.
\nAgain, though, North Carolina is a fairly large state with notable disparities, depending on your location. The precise tax burden is dependent on local and county taxes. Certain tax incentives might be available to businesses in certain locations or industries.
\n“Incentives and taxes differ based on location within the state,” Crapps said. “North Carolina as a whole tends to stack up well. They also have some specific incentive programs, including one for recycling companies that can exempt eligible property from property tax, [which] makes them extremely competitive for certain types of projects.”
\n\n\n \n\n\nIndustries to watch and to avoid
\nNorth Carolina’s Research Triangle continues to drive much of the state’s economic growth. Anchored by North Carolina State University, Duke University and the University of North Carolina at Chapel Hill, opportunities abound in the Research Triangle for tech startups as well as businesses that are related to the region’s highly educated, high-earning population.
\nThough the economy overall has recovered, hospitality and leisure continue to struggle. Entrepreneurs should be cautious about starting new ventures in these sectors.
\nFrequently asked questions about doing business in North Carolina
\nStarting a business in North Carolina requires you to select a business structure and file the appropriate tax and employer identification documents.
\n\nDo you need to register your business in North Carolina?
\nYes, you must register your business when operating in North Carolina. The first step in the registration process is to choose an available business name; you can see if your desired name is available by searching the state database. You must also select a business structure, such as an LLC or limited partnership, and incorporate accordingly. Once these steps are complete, you can register your business with the North Carolina Secretary of State or county, depending on the business structure you’ve selected. Once you have registered your business with the appropriate agency, you will receive an email regarding the status of your newly formed entity.
\nHow much does it cost to register a business in North Carolina?
\nThe fee to secure articles of incorporation through the business registration process in North Carolina is $125. Depending on the type of entity you incorporate as, there could be additional fees, such as for an application to reserve a corporate name or for articles of amendment. You can review a full list of the business registration fees on the North Carolina Secretary of State’s website.
\nDo you need to register your business in North Carolina if you are a sole proprietor?
\nYes. Sole proprietors still need to register their business, although they must go through the county or counties in which they operate rather than the North Carolina Secretary of State’s office. Each county has its own fees and processes, so review the rules of your locales before beginning the process.
\nWhat kind of licensing do you need to do business in North Carolina?
\nNorth Carolina does not require a single type of general business license, but many businesses are required to apply for a certain type of license to operate within the state. These licenses depend on your business operations, including which goods and services you offer. For more information on North Carolina’s business licenses, permits and certifications, see the state website.
\nDoes your business have to have a physical location in North Carolina?
\nYes. A business must maintain a registered agent with a physical address in North Carolina. The registered agent is responsible for receiving all official communications from the state. If your company is headquartered in a state other than North Carolina, you must first register as a foreign entity. That requires a Certificate of Authority from the North Carolina Secretary of State. To obtain a Certificate of Authority, you must provide the name of your company as it appears in its home state’s records, the name you will use in North Carolina, the address of your principal office, the name of a North Carolina-based registered agent, the names of your current business officials and the equivalent document of authority from your home state.
\nHow long does it take to form a new business in North Carolina?
\nTypically, the business registration process in North Carolina takes five to seven business days. This can vary if you register with a county (as LLCs and sole proprietorships are required to do). Generally, though, you can expect a response within one business week. The state recommends waiting to receive confirmation that your registration was accepted before purchasing any branded stationery or business cards.
\nHow do you get a business tax ID in North Carolina?
\nTo register your business, you will need a tax identification code (known as an EIN) from both the U.S. Internal Revenue Service and the state of North Carolina. Your EIN will be used to cover sales taxes, use taxes, payroll taxes, and any machinery or equipment taxes that might apply to your business.
\nDoes North Carolina require a DBA?
\nNorth Carolina requires a “doing business as” (DBA) name only if you plan to operate your business under a different brand name from the one that appears on your business registration filings. To register a DBA with the state, you must first make sure the preferred name is available with the state and no other business is already using it. You can designate your DBA for multiple counties through one filing. To search available DBAs and begin the process of registering a DBA for your business, visit the North Carolina Secretary of State’s website.
\nResources for small businesses in North Carolina
\nIf you’re a small business owner in North Carolina who is looking for resources to help you move forward, here are a few organizations you might want to learn more about.
\nNorth Carolina SCORE
\nSCORE’s volunteer business professionals and expert mentors give counsel and guidance to entrepreneurs looking to start or expand their businesses. The services are entirely free and volunteer-driven. Discover SCORE locations in North Carolina.
\nU.S. Small Business Administration (SBA) District Office
\nThe SBA offers financing and grants as well as consultations and counseling services, and has a North Carolina SBA District Office. There are also opportunities to apply for federal government contracts through the SBA and avenues for assistance in the wake of natural disasters.
\nNorth Carolina Small Business and Technology Development Centers
\nNorth Carolina has several development centers for small businesses. Each center is dedicated to supporting the development and retention of small businesses, helping entrepreneurs do everything from crafting business plans to navigating the state’s tax code.
\nNorth Carolina is open for business
\nIf you manage these challenges and take advantage of North Carolina’s opportunities, such as its low cost of doing business, the state can be a great place to start and run a business. Though the economic growth rate has been modest in recent years, many entrepreneurs have created flourishing businesses here.
\nRoss Mudrick contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.
"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"1564","_score":2,"_source":{"canonical":"https://vaylees.com/4665-effective-words-meetings.html","displayModified":"2023-12-08T17:11:38Z","docType":"article","editorsPick":false,"href":"4665-effective-words-meetings.html","id":"1564","ID":1564,"isSponsored":false,"published":"2019-11-24T14:00:00Z","site":"bnd","stream":"","subtitle":"","title":"5 Highly Effective Words for Business Meetings","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Lead Your Team","slug":"lead-your-team"},"sub":{"name":"Personal Growth","slug":"personal-growth"}},"meta":{"robots":"index, follow","description":"This guide identifies effective words to use in business meetings, as well as ineffective buzzwords that make people tune out or roll their eyes."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04074531/1554242451.jpeg","caption":"Diego Vito Cervo/Dreamstime.com","alt":""},"content":"Meetings don’t have to be a drag, especially when you know the right words and phrases to use to hook your audience — and which ones to avoid. Avoiding meaningless buzzwords and communicating clearly with the right terms that elicit positive reactions from your audience can make for a more effective meeting. They can also boost your personal brand by establishing yourself as a thoughtful leader and effective communicator. Here’s a guide to effective words and how to use them.
\nEffective words to use in a business meeting
\nWords matter, sometimes more than we realize. One place where that’s definitely true is during a business meeting. Forget about presentation skills, handshakes and power suits; the secret to succeeding in a business meeting is what you say.
\nIn fact, researchers at MIT analyzed business meetings and audience responses to certain words and phrases to determine which are most effective. Here are some of the findings:
\n\n- The words “yeah,” “give,” “start,” “meeting” and “discuss” have a larger impact than others.
\n- Using these words effectively can result in success.
\n- A data-driven approach to meeting analysis produced this list of five power words.
\n- These words need to be used in the right way and at the right time.
\n- Using power words in the opening of a meeting grabs the attention and focus of attendees.
\n- Refocus attention in business meetings with essential words that help change the topic of discussion.
\n- Closing a meeting with positive words prompts a positive response.
\n
\nFor the research, then-MIT professor Cynthia Rudin (now at Duke University) and then-MIT student Been Kim (now at Google DeepMind) examined data from several business meetings and pinpointed specific words that appeared to have a big impact. More than 11 million business meetings take place daily around the world, so learning which words affect the productivity and outcome of those meetings can help companies change the course of their success, Rudin and Kim said.
\nThe study of meetings is complex, as it’s challenging to understand social signals and complex interpersonal dynamics. But Rudin and Kim’s research was unique because it was one of the first studies to use a data-driven approach to meeting analysis. Using hypothesis tests and predictive modeling, they created a list of five words that demonstrated high persuasiveness and often led to a desired response.
\n\n\n \n\n\nOther effective approaches to meetings
\nThere are several reasons why the words “yeah,” “give,” “start,” “meeting” and “discuss” hold so much sway at business meetings. The word “yeah,” for example, shows acceptance of, or agreement with, a point of view. Here are some other tips gleaned from the study.
\nAvoid insincere compliments.
\nThe researchers also found that compliments given at meetings did not always have the intended effect. In the study, compliments that were used to offset negative comments in a meeting were often viewed as disingenuous.
\nUse decision-signaling words.
\nThe researchers also studied words that signal an imminent decision, to reveal insight into the decision-making process. They determined that when employees offer suggestions or requests for information, they expect a decision.
\n“This would be useful when listening to a previously recorded meeting and you want to fast-forward to the key decision,” Rudin said. “Or, it might help managers be more efficient if they could be automatically alerted to join a meeting when a decision is about to be made.”
\nWhen should you use power words?
\nTo use these words effectively, you need to know how and when to sprinkle them into the conversation. The study outlined the effect of each word during various parts of a meeting. Check out this summary to discover the most powerful time to use certain words and communication tactics.
\nOpening the meeting
\nThe opening of the meeting is a perfect time to begin using these five words. In this part of the meeting, these words grab attendees’ attention and focus.
\nFor example, the word “yeah” indicates agreement or acceptance. When used in the opening of a business meeting, it can demonstrate your commitment to the topic as well as the need for the meeting. If you use “yeah” at a change of topic, however, others may see it as concurrence with the need to move on or as a dismissal of the previous topic. At the end of the meeting, “yeah” may establish your desire for the meeting to end.
\nBy throwing the word “start” into your opening statements, you grab attendees’ attention. It lets everyone know the time for waiting and chitchat is over and indicates they should begin actively listening, as the business of the moment is about to proceed.
\nSimilarly, the word “give” focuses everyone’s attention on the speaker. By using this word in the opening of a meeting or when introducing each new speaker, you trigger subconscious excitement over being awarded something valuable.
\nWhen “meeting” is added to the opening, it demonstrates the tone the conversation will take. It indicates this won’t be a casual conversation but a discussion usually about a specific topic.
\nUsing “discuss” in an opening statement invites attendees to contribute to the discussion. People pay more attention when they feel they are included. Calling any communication within a meeting a “discussion” creates a camaraderie that makes it more likely that everyone will feel welcome to add their own views.
\nChanging the subject
\nWhen it’s time to transition to the next topic, it can sometimes be difficult to get others to change gears. By using these five words, you can help ease people through that transition.
\nThe word “yeah” can help you segue. Agreeing with what is being said about the previous topic captures attention. You can then use that agreement to move on to the next topic. For example, “Yeah, that’s a great point. It reminds me of the issue we’re having with … “
\n“Start” is also a great word for changing the subject. It literally tells listeners that something new is beginning.
\nSometimes, meetings can veer off topic and need to be redirected. Using the word “meeting” can do just that. For example, saying, “Maybe this is something for the next meeting,” is a fantastic way to gently change the topic. The study indicated that this kind of gentle redirection was well received every time a speaker employed it.
\nClosing the meeting
\nAt the end of the meeting, using the right words can ensure you receive a warm reception — and, ultimately, approval — of your proposals. The study found that using the five essential words at this stage usually resulted in the approval of a proposal.
\nThere is a psychological element at work when you use the positive words “yeah,” “start” and “give” at this stage of a business meeting. Phrasing your conclusion as though your proposal has already been accepted often prompts a reciprocal response.
\nUsing these five highly effective words in a business meeting may not ensure success, but it makes it much more likely. These researchers’ unique approach provides valuable advice for any business meeting.
\nBuzzwords to avoid in a business meeting
\nJust as some words and phrases can improve your performance during a meeting, certain buzzwords can turn your audience off. These words, like “synergy,” seem to make everyone in the room cringe. Most are overused or don’t communicate anything specific, so audiences get used to tuning them out as filler words or jargon. Check out our list of business buzzwords to avoid to help improve your communication style.
\nIn fact, buzzwords can hold you back in places other than business meetings. When you’re communicating online, you should also avoid relying on a tired or ineffective vocabulary. These LinkedIn buzzwords to avoid can help prevent you from sounding inauthentic or goofy when trying to connect with your peers and expand your network. This advice isn’t limited to LinkedIn; consider this list for all digital channels.
\nWords matter, so choose wisely
\nThe vocabulary you use communicates more than just the definitions of the words. Choosing a certain vernacular and sticking to it can impart a sense of your character on your audience as well. If you want to stand out as a thoughtful individual with a rich and unique perspective, then your vocabulary should demonstrate that. When you think about your communication style, read between the lines and ask yourself what broader message your words are conveying. Doing so could improve the quality of your meetings and the way you’re perceived in your professional life.
\nJacob Bierer-Nielsen contributed to this article.
"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"2348","_score":2,"_source":{"canonical":"https://vaylees.com/9835-automation-tech-workforce.html","displayModified":"2024-09-12T13:08:27Z","docType":"article","editorsPick":false,"href":"9835-automation-tech-workforce.html","id":"2348","ID":2348,"isSponsored":false,"published":"2019-02-22T22:55:00Z","site":"bnd","stream":"Automation is a broad concept that applies to modern workplaces in more ways than the obvious. How is your workplace already automated?","subtitle":"Automation is a broad concept that applies to modern workplaces in more ways than the obvious. How is your workplace already automated?","title":"Workplace Automation Is Everywhere, and It’s Not Just About Robots","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Grow Your Business","slug":"grow-your-business"},"sub":{"name":"Technology","slug":"technology"}},"meta":{"robots":"index, follow","description":"Automation is present in the modern workplace in more ways than you might expect."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04080241/1554239240.jpeg","caption":"everything possible / Shutterstock","alt":""},"content":"\nThere was a time when the term “automation” was synonymous with advanced manufacturing plants full of robotics. While replacing human labor with machine labor is a prime example of workplace automation, it’s far from the only example. Automation is present in modern businesses of all sizes – including subtle features in common software applications, and more obvious implementations like self-driving vehicles or autonomous robots.
\n\n\n\nThere is much debate about where workplace automation will lead the economy, but observers tend to agree that the trend is gaining momentum. Every business process is on the table for automation, especially as technology becomes more sophisticated. Automation will undoubtedly change the workplace and the wider economy. The only question is: To what extent?
\n\n\n\n \n\n\n\nWhat is workplace automation?
\n\n\n\nThere’s a common misconception that automation involves towering robotics, but it can be as simple as a set of tools housed within common business software programs. At its core, automation is about implementing a system to complete repetitive and easily replicated tasks without the need for human labor.
\n\n\n\n“Automation takes a lot of forms,” said Fred Townes, formerly the chief product officer at READY Education. “For small businesses, the most important thing is [repetition]. When you find something you do more than once that adds value … you want to look into automation.”
\n\n\n\nHistorically, automation required expensive servers and a team of experts to maintain them. For many small businesses, this was a cost-prohibitive measure that put automation out of reach. With the development of cloud-based platforms, however, automation tools are now accessible to even the smallest companies, Townes said.
\n\n\n\n \n\n\n\nExamples of common workplace automation
\n\n\n\nAccording to Townes, by automating repetitive business processes, employees are freed up for tasks that are more valuable than those that can be completed by machines. However, more advanced forms of automation – like machine learning – can now be used to complete higher-order tasks that require a bit more adaptability.
\n\n\n\nThe ability of these software programs to learn over time means they pore through massive troves of data quickly and effectively, before contextualizing that information in a useful way to support internal decision-making.
\n\n\n\nThese are some of the ways in which workplace automation is already being adopted by forward-thinking companies:
\n\n\n\n1. Email marketing
\n\n\n\nMany small business owners already use at least one form of automation: email marketing. Companies like Zoho and Constant Contact offer software that allows users to tailor the parameters of their email marketing campaign to their liking and then set it to run automatically. If you’re considering email marketing software, a great place to start is our Best Email Marketing Software and Solutions page. These comparative reviews can give you an at-a-glance view of everything you need to know for choosing the right solution. You can also learn more about these platforms’ automation abilities in our Zoho CRM review and our review of Constant Contact.
\n\n\n\nAn introductory email can be uploaded into the software and sent as soon as a contact is added. The software is configured to send a follow-up email a few days later, but only to those who opened the original email. Learning how to use CRM software can be a great step toward building a sustainable customer base for your business.
\n\n\n\n2. Talent acquisition and hiring
\n\n\n\nMachine learning automation is making inroads in talent acquisition and employee recruitment, said Kriti Sharma, former vice president of bots and artificial intelligence at accounting and payroll software company Sage. For human resources departments, automating processes like tracking down potential candidates and scheduling interviews frees up time for workers to determine who is the best fit for their organization. [Read related article: Guide to Choosing a Payroll Service]
\n\n\n\n“It is a big pain to hire the right people,” Sharma said. “A lot is happening in recruitment systems, using AI to match the right people to the right team for the right projects.”
\n\n\n\n3. Customer service
\n\n\n\nCustomer service departments are also getting an automation makeover with the introduction of tools like chatbots and automated text message marketing solutions. These consumer-facing tools automate typical customer service interactions by answering common enquiries immediately. They only refer customers to a representative when the chatbot is insufficient for handling their needs. If you want to learn more about text message marketing, visit our Best Text Message Marketing Solutions page for a comparative analysis on how companies.
\n\n\n\n \n\n\n\n4. Sales
\n\n\n\nAn algorithm will never be able to take a client out for coffee or negotiate a deal as effectively as a trained salesperson. Yet automation can free up time for these human-centric interactions, since McKinsey estimates that a third of all sales tasks can be automated. Here are some examples of those tasks.
\n\n\n\n\n- Searching leads: Predicting when customers might benefit from being contacted
\n\n\n\n- Invoicing: Checking credit, and invoicing new and existing clients
\n\n\n\n- Processing orders: Order processing, stock management and upselling queries
\n\n\n\n- Tracking shipments: Dispatch, delivery, and return notifications; payment and refund acknowledgments
\n\n\n\n- Managing clients: Account management, including regular check-in emails
\n
\n\n\n\n5. Human resources
\n\n\n\nGiven the predictable and repetitive nature of HR duties – like payroll and timesheets – digitization can transform the efficiency of a department. By reducing mistakes caused by human error, such as an HR employee forgetting to update submitted timesheets, it’s possible to automate performance management, paid holidays and absenteeism record keeping.
\n\n\n\nSoftware can raise flags if quotas are reached or missed, while maintaining accurate records updated in real time. There are even utilities that automate onboarding using Google forms, including prewritten emails, event scheduling and the distribution of training materials.
\n\n\n\n6. Automatic for the people
\n\n\n\nOpportunities to automate common workplace processes are everywhere, which is why automation is becoming a common element of every business. This includes providing good customer service, streamlining the hiring process or managing marketing campaigns more efficiently. As technology improves, more tasks will become suitable for automation.
\n\n\n\n \n\n\n\nMachine learning as a driver of more sophisticated automation
\n\n\n\nMachine learning and artificial intelligence enable new forms of “smart” automation. As the software learns, the more adaptable it becomes. These technologies open the door for the automation of higher-order tasks in addition to the basic, repetitive tasks.
\n\n\n\n“I think there’s a lot of focus at the moment on these tasks that humans don’t want to do,” Sharma said. “But what’s going to happen in the future is … automation will not just be about automating those tasks humans are doing today, but it will be about realizing potential opportunities.”
\n\n\n\nAs data sets become more thorough and available, and as software draws on more sources and synthesizes more data points, contextual information in human decision-making will only improve. Machine learning will serve as a supplement to – or perhaps even an enhancement to – human knowledge. Combine AI capabilities with improved data retention through the Internet of Things (IoT), and the possibilities are endless.
\n\n\n\nImproving automation for better human experiences
\n\n\n\nTownes proposed that a shift toward more attractive user experiences with machine learning programs is already underway. To make interacting with these tools more natural and intuitive, he said companies will begin tailoring AI and automated technologies for a more organic, human experience.
\n\n\n\nTo make customer service chatbots appear more human, Sage has intentionally built imperfections into its AI. For example, the answer to a user’s question might already be queued up by a chatbot, but Sage built a slight “thinking” delay into its system to simulate a more human customer service interaction. An ellipsis in the chat box indicates that the bot is preparing a response, even though it immediately pulled up the queried information. Initial user feedback to the feature was highly positive, reflecting a desire for a more human interactive experience.
\n\n\n\n \n\n\n\n“Things will get more and more accessible,” Sharma said. “These technologies will never replace the human being, but they will relieve the human being of the things that are less valuable, relatively speaking. [Humans] will be able to instead focus on those things that require creativity and touch. We’ll see more accessible, better experiences, and we’ll see human beings move to their highest and best use.”
\n\n\n\nFor personnel, the shock of an increasingly automated world can be difficult to process. According to Sharma, successfully integrating automation into human life starts with a comprehensive effort to educate people about what automation is. This also extends to what it isn’t, and what it means for them.
\n\n\n\n“Users are often initially surprised [by the capabilities of automation],” Sharma added. “The first time they see something automatically there’s a bit of delight, and it’s also a bit scary until you show them the process the software went through. It’s more of an educational challenge, not so much a tech problem.”
\n\n\n\nHelping employees embrace workplace automation
\n\n\n\nThe steady march of workplace automation has prompted discussion about the future of a fully automated economy. Efficiency, convenience and profitability top the list, but so too do concerns about the fate of workers whose jobs are automated out of existence. There are several proposals to support those displaced in an increasingly automated world, such as retraining programs or a universal basic income.
\n\n\n\nWhen it comes to supporting those left behind in an automated economy, there are more questions than answers, with many competing perspectives. Some observers, like Jobcase CEO Fred Goff, anticipate that expanded access to educational and networking opportunities will offer workers the opportunity to remake their careers. They will find a way in the new economy to support themselves and their families.
\n\n\n\n“The same kind of tech that displaces certain workers also opens up new opportunities,” Goff said. “Work life has changed to the point where everyone is essentially their own free agent. Managing yourself has become the theme in the last 10 years, and so we’re trying to empower people through tools and open-ended community.”
\n\n\n\nJobcase is a community of 70 million people, including experts and professionals in various industries. In terms of education, Goff pointed to resources like Khan Academy, which offers free courses on various topics, such as economics and coding. Certifying the skills learned on these platforms will likely come increasingly from completing freelance tasks, rather than from academic institutions.
\n\n\n\n“The rise of platforms for gigs and 1099 labor are increasingly breaking down the notion of skill certification,” Goff said. “It might still be difficult to get that full-time job, but building on contracted experience is a way to give that competency verification. In the education and training world, it means decoupling the certification of your education from the delivery of your education.”
\n\n\n\n \n\n\n\nThe future of work with workplace automation
\n\n\n\nJames Wallace, co-founder of Exponential Ventures, sees an automated future that eschews the conventional notion of jobs altogether. Wallace said that by embracing automation and high tech, individuals could be empowered to create incomes on their own. This would negate the need for a traditional, hierarchical company.
\n\n\n\n“We’re living through unfortunate but necessary pain,” Wallace said. “The conversation should be how to reduce those growing pains. The reality is the ultimate effect of automation is something very positive for everyone.”
\n\n\n\nHe said the economic insecurity displaced workers feel is very real, but automation is not the enemy. Instead, Wallace hopes to educate people about leveraging this powerful technology to create their own incomes – essentially establishing a society of entrepreneurs and small companies.
\n\n\n\n“If we can establish a way to make sure we all have enough food, clothing and shelter to survive … and allow people to repurpose their gifts, unique abilities, and enable them to proliferate that and sell it as a good or a service, then we’re adding income,” Wallace said. “We can create an opportunity to generate income for next to nothing, so why not teach people to leverage the tech that disrupted the marketplace in the first place to embrace it and use it for something more in line with who they are, as an expression of their unique abilities?”
\n\n\n\nAutomation for efficiency and profitability
\n\n\n\nIronically, the bottom line of business process automation is the bottom line. Automating processes saves time and allows resources to be diverted elsewhere. It means companies can remain smaller and more agile.
\n\n\n\nIncreased efficiency, productivity and lower costs all translate to healthier profit margins for businesses – both small and large. The extent to which automation transforms the economy at large remains to be seen, but it appears inevitable that we’re headed toward a future of more automation. [Learn more about the best marketing automation products in our buyer’s guide.]
\n\n\n\nWhat this means for businesses, workers and consumers will be the subject of huge debate moving forward. One thing seems certain, however: If it can be automated, it will be.
\n\n\n\nMatt D’Angelo and Neil Cumins contributed to this article. Source interviews were conducted for a previous version of this article.
\n"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"1762","_score":2,"_source":{"canonical":"https://vaylees.com/8984-increased-minimum-wage.html","displayModified":"2023-11-20T20:32:04Z","docType":"article","editorsPick":false,"href":"8984-increased-minimum-wage.html","id":"1762","ID":1762,"isSponsored":false,"published":"2019-09-11T15:06:00Z","site":"bnd","stream":"As minimum wages rise and big businesses offer employees more money, how can small businesses compete?","subtitle":"As minimum wages rise and big businesses offer employees more money, how can small businesses compete?","title":"How Small Businesses Are Affected by Minimum Wage","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Grow Your Business","slug":"grow-your-business"},"sub":{"name":"Finances","slug":"finances"}},"meta":{"robots":"index, follow","description":"Minimum wage increases affect small businesses. Learn about state and local minimum wage laws and what small businesses need to know to plan and adapt."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04075001/Signing-paycheck_AndreyPopov_Getty-Images.png","caption":"AndreyPopov / Getty Images","alt":""},"content":"In 1979, you could buy a dozen eggs for 86 cents. Today, a carton of eggs may cost you nearly $5 (or more), depending on where you live. Gas is pushing past $5 per gallon in many areas of the country, and expenses like electricity, rent and college education have skyrocketed. But as everyday goods, services and expenses have steadily increased, employees’ wages have lagged far behind.
\nEditor’s note: Looking for information on payroll services? Use the questionnaire below, and our vendor partners will contact you with the information you need:
\n\n\n \n\n\nThat could be changing slowly. Many states have increased their minimum wages, and some areas have hiked their minimum wages beyond $15 per hour. Even in cities where legislators aren’t raising the minimum wage, small businesses must consider increasing compensation to recruit much-needed talent for open positions.
\nWe’ll outline the minimum wage changes your business should understand, explain how they impact operations and share tips for mitigating the costs.
\n\n\n \n\n\nState and local minimum wage laws
\nSmall businesses must understand federal and state minimum wage laws to stay compliant and competitive. Minimum wage laws change periodically and can vary widely by state and city.
\nCurrently, 30 states, plus Washington, D.C., have a minimum wage higher than the federally mandated minimum of $7.25 per hour. Thirty states, plus Washington, D.C., have increased their wages since January 2014, so many businesses have had to adjust their wages.
\nWashington, D.C., has the highest minimum wage rate at $17 per hour, followed by Washington state and California. In Washington, the minimum wage is $15.74 per hour. California follows closely behind Washington, with a minimum wage of $15.50.
\nMoreover, 48 cities nationwide have adopted minimum wage rates higher than their state’s required amount. The highest local minimum wage is in West Hollywood, California, where employers are required to pay their workers $19.08 per hour. The minimum wage in Seattle is a close second ― it increased to $18.69 per hour in January 2023.
\nIn these cities, where legislation has been enacted to mandate a minimum wage increase, small businesses have no choice but to comply with the law or face enforcement actions and lawsuits.
\nHow increased minimum wages impact the general economy
\nThe rate at which many states and cities are adopting increased minimum wages suggests that these increases are highly beneficial. Increased minimum wages are correlated with many positive economic impacts, including the following:
\n\n- Better employment rates: Workers are increasingly uninterested in jobs that don’t compensate them fairly. Increased minimum wages address this concern and boost employment.
\n- More consumer spending: When employees earn more, they increase their discretionary spending budgets. Extra spending introduces money into the economy, helping to stimulate it. With more spending, more money is directed to smaller businesses, resulting in growth that bolsters local economies.
\n- Lower poverty rates: When people experiencing poverty earn more money through their work, they can afford food, housing and other basics more easily. Of course, the lower a country’s poverty rate, the stronger its economy, which can only benefit your small business.
\n- Potentially lower long-term taxes: Since increased minimum wages can help people escape poverty, they reduce reliance on government programs. In turn, governments can shrink their budgets for these programs. With smaller budgets, less tax money must be funneled into these programs. The result can be an overall lower tax burden for the average taxpayer, including your small business.
\n- More diverse workforces: The median income of Black and Hispanic households is less than that of the national median income. This discrepancy often stems from conscious and unconscious employer biases. When employers must pay a higher minimum wage, these pay gaps shrink. As they do so, marginalized groups may feel more incentivized to join the workforce. The result is more diverse workforces in most, if not all, sectors. The importance of diversity hiring can’t be overstated.
\n
\n\n\n \n\n\nWhat minimum wage hikes mean for small businesses
\nIt’s not uncommon to hear that minimum wage increases have disastrous consequences, particularly for small businesses. However, economic research into the impact of minimum wage hikes on small businesses suggests that increases aren’t harmful and might even be beneficial.
\nIn an analysis of reports following the start of the COVID-19 pandemic, the Center for American Progress examined the status of businesses in states that increased the wage floor and states whose minimum wages remained at the federal minimum. The researchers’ findings included the following:
\n\n- In 2021, businesses across low-wage industries in states with higher minimum wages grew at a higher rate than similar businesses in states that adhered to a $7.25 minimum wage.
\n- Businesses with increased wages had an easier time hiring employees. These establishments were also more likely to surpass their pre-COVID-19 employment rates sooner than businesses that didn’t increase their wages.
\n- Businesses in states with higher minimum wages had an easier time retaining employees. These employers also witnessed increased productivity among their staff.
\n
\nBased on this data, the notion that minimum wage hikes kill small businesses and reduce job opportunities appears to be false. Instead, raising the minimum wage seems to improve entrepreneurs’ abilities to start new businesses and attract and retain top talent.
\nMoreover, additional research published by the hiring employees found that minimum wage hikes did not correlate with an increase in small business failures.
\nStill, any increase in the minimum wage is bound to impact a small business’s balance sheet. While there might be some benefits associated with increasing workers’ pay, small businesses must first be capable of absorbing the costs.
\nHow small businesses can absorb the increased costs of minimum wage hikes
\nMany small businesses aren’t prepared to pay increased labor costs out of pocket, so it’s essential to prepare for new legislation. The following tactics can help you bring in more money and reduce the money flowing out of your business so you can better handle potential increased labor costs:
\n\n- Cut business expenses: If you live in a state or city planning to raise the minimum wage, you have time to increase costs in modest increments. While preparing to absorb these costs, reexamine every facet of your business. Is there waste or inefficiency you can address that would save you money? Consider energy consumption, surplus inventory and service contracts. Cutting business expenses will help you absorb new labor costs and streamline business operations.
\n- Increase prices: If your prices are competitive for your market, consider increasing them. Before raising prices, communicate with your customers so they know what to expect. Also, examine your competitors’ prices to ensure customers don’t flee for more cost-effective alternatives. While increasing prices is a serious move, coupling price increases with modest budget cuts could free up capital if you have the room to do it.
\n- Reduce hours: If you find it difficult to offset a minimum wage increase, consider reducing your operating hours. Are you open beyond peak times? Identify when most of your revenue comes through the door and adjust your operating hours accordingly to save money.
\n
\nPlanning for increased minimum wage costs can be challenging but not impossible. That’s especially true considering that most cities and states with minimum wage increases give businesses several years to gradually step up compensation; they don’t expect them to drastically increase hourly wages overnight. Some businesses build regular, voluntary wage increases into their budget anyway, whether or not they operate in a jurisdiction where minimum wages are increasing.
\n\n\n \n\n\nWhy small businesses voluntarily increase pay
\nBeyond regulatory mandates, small businesses also find themselves in an environment where hiring and retention are challenging and their most significant expense ― labor ― is growing due to market forces. The Great Resignation left many employers in desperate need of workers, especially mid-career employees with in-demand career skills and experience. This means job candidates have significant leverage in negotiating compensation and courting multiple offers.
\nTo remain attractive to talented candidates, businesses must offer more attractive working conditions to job seekers (which often means better pay, first and foremost) than their competitors.
\nMany business owners, including Andrei Vasilescu, CEO and co-founder of DontPayFull, understand they must remain competitive to keep their best workers and continue bringing in the candidates with the most potential. That’s why Vasilescu offers automatic annual wage increases as well as a midyear bump.
\n“I own a small online business, which needs a team of tech-savvy smart minds as programmer, designer, digital marketer, sales analysts, etc.,” Vasilescu explained. “None of those professionals work at basic wages, and these expert professionals are always wanted by other companies. Hence, to retain them in my business … I have to give them something extra.”
\nWell-paid employees are less likely to leave, reducing turnover, which highly impacts morale. Retention is essential in a business landscape where the average cost of replacing an employee is between half to two times their salary. Losing valuable
\n\n\n \n\n\nHow corporate social responsibility affects wages
\nIt’s not always a pure bottom-line motivation that leads to wage hikes. Some businesses voluntarily raise wages because they believe in giving their employees a living wage, which accounts more for the cost of living in each region than the going rate for labor. They don’t want their employees working multiple jobs.
\nOne such company is Coastal Credit Union, which is organized as a cooperative and headquartered in Raleigh, North Carolina.
\n“As a cooperative and a responsible corporate citizen, we felt like it was necessary to take the initiative to ensure that our own employees are able to earn enough to take care of themselves,” shared Joe Mecca, Coastal’s vice president of communication and spokesman. “Coastal puts employee engagement at the core of what we do, and we believe it is every bit as important as member satisfaction and overall business performance.”
\nCoastal initially increased its minimum wage to $12.50 per hour in 2016 and raised it again to $15 per hour in March 2018. Although Coastal’s rationale focused on employees, the company has recognized the hallmark rewards of paying employees a living wage: reduced turnover, higher employee engagement and a boost in productivity.
\n“It’s not just socially responsible; it makes good business sense,” Mecca continued. “In our experience, increasing the minimum wage has been well worth it. We’re enjoying high levels of engagement, which helps with member satisfaction, productivity and our overall financial results.” [Related article: What Is Corporate Social Responsibility?]
\nBenefiting from higher minimum wages by planning ahead
\nNo one wants expenses to go up. However, business owners understand the value of investing in critical assets. Your small business has no greater asset than its employees, so their wages should be considered investments. Moreover, increasing compensation is a compliance issue in states and cities where minimum wage increases are legislated.
\nWhile paying higher wages can positively impact your business, you must plan to absorb the costs of minimum wage increases to realize the benefits of increased employee recruitment, retention and morale in your small business. Cutting extraneous costs, raising prices and optimizing your business hours are essential when facing a rising minimum wage.
\nSmall businesses that navigate minimum wage increases successfully often find themselves in an economically healthy environment where consumers have more disposable income to spend on goods and services. They also have happier, more productive and more loyal workers. If you plan accordingly, minimum wage increases don’t have to be an obstacle. They can benefit your business and employees.
\nShayna Waltower and Max Freedman contributed to this article. Source interviews were conducted for a previous version of this article.
"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"1274","_score":2,"_source":{"canonical":"https://vaylees.com/15756-business-partnership-agreement-writing-guide.html","displayModified":"2023-12-20T19:31:18Z","docType":"article","editorsPick":false,"href":"15756-business-partnership-agreement-writing-guide.html","id":"1274","ID":1274,"isSponsored":false,"published":"2020-08-06T15:50:00Z","site":"bnd","stream":"Every partnership needs a formal agreement. We'll show you what it should include.","subtitle":"Every partnership needs a formal agreement. We'll show you what it should include.","title":"Business Partnership Agreement Writing Guide","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Start Your Business","slug":"start-your-business"},"sub":{"name":"Startup Basics","slug":"startup-basics"}},"meta":{"robots":"index, follow","description":"A business partnership agreement outlines the rights and obligations of partners in a business. Learn how to write one and what it should include."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04072830/partners_Prostock-Studio_getty.jpg","caption":"Prostock-Studio / Getty Images","alt":""},"content":"Since joining Business News Daily in 2015, Adam Uzialko has become a trusted resource for small businesses. As our Small Business Insider and an entrepreneur, he has spent thousands of hours researching and writing about the software and services entrepreneurs need most.
\nA business partnership agreement is a document that establishes clear business operation rules and delineates each partner’s role. These agreements are enacted to resolve disputes, delineate responsibilities, and define how to allocate profits and losses.
\nAny business partnership in which two or more people own a stake in the company should have a business partnership agreement. This legal document provides critical guidance in a company’s operations.
\nWe’ll explore what a business partnership should include, as well as share resources and best practices for creating this critical legal document.
\n\n\nWhat is a business partnership agreement?
\n\n\nA business partnership agreement is a legal document between two or more business partners that spells out the business’s legal structure and purpose. It outlines the following information:
\n\n- Individual partners’ responsibilities
\n- Capital contributions
\n- Partnership property
\n- Each partner’s ownership interest
\n- Decision-making conventions
\n
\nThe agreement also outlines what steps will be taken if one business partner decides to sell their interest or leave the company and how the remaining partner or partners would split profits and losses.
\n“I highly suggest formal partnership agreements are put in place as businesses evolve from solo practices into a partnership or ensembles,” said Rich Whitworth, former head of business consulting for Cetera Financial Group. “The biggest reason is that it establishes the ‘rules of engagement’ between the business and its owners … and lays out a road map on how to deal with entity-level issues.”
\nWhile businesses seldom begin with concerns about a future partnership dispute or how to dissolve the business, business partnership agreements are essential in situations in which emotions might otherwise take over. A written, legally binding agreement is an enforceable document instead of a spoken agreement between partners.
\n\n\n \n\n\nHow to write a business partnership agreement
\nA business partnership agreement must include all foreseeable issues regarding the business’s co-management. The easiest way to prepare a business partnership agreement is to hire an attorney or to find a customizable template. If you’re writing your own agreement, find a template for a company that’s similar to the business you’re starting.
\nA business partnership agreement should follow a logical process and include the following information:
\n\n- Business generalities. Start by stating the business’s name, its legal structure and the business’s location (i.e., which state’s laws will govern it).
\n- Business operations. State the partnership’s purpose, and explain the activities the business will and will not engage in.
\n- Ownership stake. Spell out the percentage of the business that each partner owns. Enumerate each partner’s rights and responsibilities.
\n- Decision-making process. Outline how decisions are made and the responsibility of each partner in the decision-making process. Include who has financial control of the company and who must approve the addition of new partners. Also include information on how profits and losses are distributed among the partners.
\n- Liability. If the business partnership is set up as an LLC, the agreement should limit the liability each partner faces in the event of a business lawsuit. To do so effectively, a partnership agreement should be paired with other documents, such as articles of incorporation. A business partnership agreement alone is likely not enough to fully protect the partners from liability.
\n- Dispute resolution. Any business partnership agreement should include a dispute-resolution process. Even if you’re working with family or best friends, disagreements are common in business.
\n- Business dissolution. If one or more partners choose to dissolve the business, a business partnership agreement should outline how that dissolution will occur. It should spell out the procedures for partners to join or leave the partnership. It should also outline continuity or succession planning for partners leaving the business.
\n- Explain how the partnership’s finances (including small business taxes) will be managed.
\n
\nOnce you’ve spelled out everything in detail, each partner must sign the agreement for it to take effect.
\n\n\n \n\n\nThe stages of a business partnership agreement
\nA business partnership agreement doesn’t have to be set in stone, especially as a business grows and develops. You’ll be able to add to the agreement, especially if unforeseen circumstances occur. According to Whitworth, there are four primary stages to consider.
\n\n- Initial partnership: This stage involves creating the initial business partnership agreement as described above. You’ll draft an agreement that governs the business’s general operations, decision-making process, ownership stakes and management responsibilities.
\n- Addition of limited partners: As a business grows, it might have the opportunity to add new partners. According to Whitworth, the original partners might agree to a “small carve-out of minor equity ownership” for the new partner, as well as limited voting rights that give the new partner partial influence over business decisions.
\n- Addition of full partners: Sometimes you’ll want to promote a limited partner to a full business partnership. A business partnership agreement should include the requirements and process for elevating a limited partner to full partner status, complete with full voting rights and influence equal to that of the original partners.
\n- Continuity and succession: At some point, founders may retire or leave the company without wanting to dissolve it. If you didn’t include continuity and succession planning initially, it’s crucial to outline your plan. Describe how ownership stake and responsibilities will be distributed among the remaining partners after the departing partners take their leave.
\n
\n“Partnership agreements need to be well crafted for myriad reasons,” said Laurie Tannous, owner of law firm Tannous & Associates Inc. “One main driver is that the desires and expectations of partners change and vary over time. A well-written partnership agreement can manage these expectations and give each partner a clear map or blueprint of what the future holds.”
\n\n\n \n\n\nFree business partnership agreement templates
\nBusiness partnership agreement templates are available for free online. These resources can help you draft your agreement, but you should have legal counsel review your draft and help you revise and finalize the document before you sign it.
\nOnce a lawyer confirms that your business partnership agreement is thorough and legally binding, you and your partners can sign it to make it official.
\nWhen you’re searching for business partnership agreement templates, start with the following resources:
\n\nBusiness partnership agreement mistakes to avoid
\nPartnership agreements are complex documents. Unfortunately, many people get bogged down in details and make crucial startup mistakes in their partnership agreement.
\nHere are some common mistakes to avoid:
\n\n- Skipping key details. Partnership agreements typically include some complex language around specific topics, and people may leave out this language if they don’t understand it. Don’t assume something isn’t necessary just because it reads like fine print.
\n- Trusting things will work out. People tend to go into business with people they like and trust, leading them to think there won’t be problems later. A partnership agreement exists to resolve these issues when they inevitably arise.
\n- Not having the agreement reviewed by counsel. Partnership agreements can vary by state and industry, and laws and best practices are constantly changing. If you choose not to have an attorney draft your agreement, at least have one review it before you sign the document.
\n- Not amending the agreement later. Partnerships evolve, and governing documents must be updated periodically to reflect the changing business. Otherwise, there may be issues that the document can’t resolve.
\n- Not forming separate partnerships for new ventures. Creating a business is expensive and time-intensive. Sometimes when a partner has an idea for a new business, their first thought is to make it part of their existing partnership. However, this keeps partners from compartmentalizing their liability. Often, their existing partnership agreement isn’t structured to govern new and different businesses.
\n
\nBusiness partnership agreements formalize the relationship between partners and enumerate their rights and responsibilities. This limits partner liability and helps resolve disputes. Failing to draft an appropriate agreement can lead to problems later, including significant personal liability.
\nWhy do you need a business partnership agreement?
\nA business partnership agreement establishes a set of agreed-upon rules and processes that owners sign and acknowledge before problems occur. If any challenges or controversies arise, the business partnership agreement defines how to address them.
\n“A business partnership is just like a marriage: No one goes into it thinking that it’s going to fail, but if it does fail, it can be nasty,” said Jessica LeMauk, marketing director at Voxtur. “With the right agreements in place, which I’d always recommend be written by a qualified attorney, it makes any potential problems of the business partnership much more easily solved and/or legally enforceable.”
\nIn other words, a business partnership agreement protects all partners if things go sour. By agreeing to a clear set of rules and principles at the partnership’s outset, partners exist on a level playing field developed by consensus and backed by law.
\nBusiness partnership agreements level the playing field
\nA well-crafted, airtight business partnership agreement clarifies each partner’s expectations, duties and obligations. In business, things change constantly, so it’s crucial to establish a business partnership agreement that can serve as a grounding force in turbulent or uncertain times. A business partnership agreement also defines how the business should grow and governs the addition of new partners.
\nIf you’re going into business with a partner, establish a business partnership agreement while incorporating as an entity. Even if it seems unnecessary today, when an issue arises, you’ll be glad you had an agreement in place.
\nDock Treece contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.
"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"1004","_score":2,"_source":{"canonical":"https://vaylees.com/15942-meal-rest-break-laws.html","displayModified":"2023-10-23T14:48:20Z","docType":"article","editorsPick":false,"href":"15942-meal-rest-break-laws.html","id":"1004","ID":1004,"isSponsored":false,"published":"2020-12-11T17:21:00Z","site":"bnd","stream":"Meal and rest break laws vary by state, but it is important to understand your obligations as an employer to avoid financial penalties.","subtitle":"Meal and rest break laws vary by state, but it is important to understand your obligations as an employer to avoid financial penalties.","title":"What Meal and Break Laws Does Your Business Need to Know?","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Lead Your Team","slug":"lead-your-team"},"sub":{"name":"Managing","slug":"managing"}},"meta":{"robots":"index, follow","description":"This guide explains the meal and rest break laws all small businesses should know to ensure regulatory compliance when making their teams’ schedules."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04072608/breakroom_KatarzynaBialasiewicz.jpg","caption":"KatarzynaBialasiewicz / Getty Images","alt":""},"content":"Meal and rest break laws vary from state to state; some have stringent regulations mandating break times while others don’t have any requirements for employers. However, even where break times are not mandated by state law, employers might decide to offer breaks to their employees to improve morale and productivity. Here’s what you need to know about crafting a meal and rest break time policy for your small business.
\nEditor’s note: Looking for the right time and attendance system for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.
\n\n\n \n\n\nAre employee breaks required by law?
\nUnder the federal Fair Labor Standards Act (FLSA), employers are not required to permit employees to take breaks throughout the work day. The only federal standard that exists requires employers who choose to offer breaks to compensate employees accordingly during those break times.
\n“When employers do offer breaks lasting from 5 to 20 minutes, federal law considers breaks of that length as compensable,” said Moses Balian, HR expert at JustWorks. “And they should be included in the total of hours worked and when determining overtime.”
\nAdditionally, meal breaks of 30 minutes or more do not need to be paid as long as an employee is relieved of all work-related responsibilities during that time.
\nBeyond this consideration, federal law is quiet on the matter of meal and rest breaks. State law varies considerably — some have stringent rules like in California, while 30 states have no requirements whatsoever. If you operate your business in one of the 20 states that do have meal and rest break laws, however, it is important to ensure you remain in compliance with those rules.
\n“While the federal level does not have those specific mandates, there are states with specific rules,” said Brianna Brockway, HR coach at Paychex. [Check out our full review on Paychex payroll software.]
\nAccording to Brockway, the following examples demonstrate just how much state laws on meal and rest breaks can vary:
\n\n- California: In California, employees are entitled to a half-hour meal break for every five hours worked, unless the workday ends in six hours or less. An employer must extend a second 30-minute meal break to employees who work more than 10 hours per day. California employers must also provide a 10-minute paid rest break for every four hours worked. Failure to comply with these rules could result in financial penalties of up to two hours premium pay per employee per day the violations occurred. In other words, noncompliance can become expensive quickly.
\n- New York: New York does not mandate rest breaks, but does require employers to provide meal breaks. The specifics of these breaks vary by industry, Brockway said. For example, a factory worker must be permitted to take a 60-minute meal break in the middle of their shift, while an office employee must be permitted to take a 30-minute meal break if they work more than six hours in one day, Brockway said.
\n- New Jersey: New Jersey is one of 30 states without any meal or rest break requirements. Employers in New Jersey only need to follow the federal law set out under the FLSA if they choose to extend breaks to employees.
\n
\nEmployers must understand the law in every state in which they operate. Consult with legal counsel to determine your obligations and develop a comprehensive policy that ensures compliance. If you are a multistate operator, you will need to examine every applicable state law for the states you are operating within.
\nExempt vs. non-exempt employees
\nMeal and rest break laws typically only apply to non-exempt employees under the federal FLSA. Non-exempt employees are those that are eligible for overtime. They are typically wage workers rather than salaried employees. Additionally, non-exempt employees must not fall into any exempt categories based on their job duties and role within the company.
\n\n\n \n\n\nAre remote employees entitled to meal and rest breaks?
\nRemote employees who are considered non-exempt are entitled to meal breaks under federal law. If you operate in a state where employees are entitled to additional breaks, your remote workers may be entitled to those breaks as well. If you want to play it safe, extend the same policy to your remote workers as you do onsite staff. If you’re considering an alternative policy, consult with legal counsel about the best way to proceed to ensure you’re not unintentionally violating any regulatory requirements.
\nHow many breaks should an employee get?
\nThe number of breaks an employee must receive under state law varies. It can depend on a number of factors, including total time worked per day, total time worked per week, industry and job role.
\nHowever, some employers might choose to offer more breaks than required by law, especially if their state doesn’t require any meal or rest breaks, said Melissa Costello, a labor and employment attorney at Ballard Spahr.
\n“There are a lot of good reasons for employers to choose to offer breaks,” Costello said. “You want employees to get some rest, clear their heads, and have some time away from work.”
\nResearch has demonstrated that taking breaks not only benefits employees’ mental and emotional well-being, but also to restore motivation, improve decision-making, boost productivity, encourage creativity, and improve memory consolidation and learning. A rested employee is an effective employee.
\nOn-duty vs. off-duty breaks
\nDue to the federal distinction between compensable five- to 20-minute breaks and non-compensable 21+ minute breaks, it is important to distinguish between on-duty and off-duty breaks, Costello said.
\n“If an employer is providing unpaid breaks, it is really important that the employer prevent employees from working during that unpaid break,” she said. “I recommend employers require employees to eat away from their workspace or provide a break room.
\n“If an employee is sitting at their desk eating lunch and the phone rings and they answer it, they’re not relieved of their duties and the employer should be paying them,” she added.
\nEven if that example sounds innocent, an employee could technically complain that they were not relieved of their responsibilities and the employer could be on the hook for back pay and other financial penalties.
\n\n\n \n\n\nWhat to do if an employee works through required breaks
\nIf an employee works through what should be an unpaid break, employers must pay them for that time. However, employers could consider failure to abide by company break time policy a performance issue subject to discipline.
\n“If employees are working through breaks, even though they’re supposed to be unpaid, you have to compensate them for that time,” said Paul Starkman, employment attorney at Clark Hill. “You can provide warnings and discipline if they don’t follow policies on taking breaks when required to do so. But if they do work, you’re required to pay them.”
\nUltimately, if an employee repeatedly works through breaks after attempts to correct the behavior, an employer could terminate that employee. However, the employer must document all disciplinary action taken prior to termination and consult with an employment attorney regarding the decision to terminate an employee before doing so.
\n“Fundamentally it’s a performance issue,” Balian said. “Attendance is one of many facets of performance … and attendance encapsulates many things. The most common one we talk about is late arrival to work, but it’s also failure to follow employers’ prescribed working schedule in any manner. So, an insistence to work through lunch against advisement is a performance issue. They still need to be paid for that time, but they can be written up and disciplined.”
\nBalance workload to ensure required breaks can realistically be taken
\nTo make matters more complicated, if an employee can reasonably claim that although company policy requires them to take a 30-minute unpaid break while their workload was too immense to reasonably do so, the liability could be back on the employer.
\n“Even if an employer is explicit about employee entitlement to meal and rest breaks, if the workload is just too high employees might not feel like they reasonably can take their legally mandated meal or rest break and still complete work assigned to them,” Balian said. “In that case, should an employee make a complaint to the state DOL, there might be credence to claim that despite explicit encouragement to take breaks, the fact that they were unable to complete minimum productivity standards and take their break [made it impossible to do so.]”
\nThe best way to ensure off-duty meal breaks are truly off-duty is to establish a clear policy that includes mandatory meal breaks away from the workspace, including clear and transparent expectations around workload and when to perform work-related tasks.
\nAdditionally, Balian said, employers should work with employees to help them prioritize their work and streamline the manner in which they move from task to task. If that coaching doesn’t produce results, consider whether the employee’s workload is truly too much or if they are simply not performing their job efficiently.
\n\nMany tools available to help employers automate tracking employee time and attendance. These tools can take care of many tasks, like allowing employees to clock in and out through a smartphone application. Many tools also include geofencing so employers can monitor the locations from which remote employees are clocking in. Additionally, these tools compile reports on employee time and attendance, establishing a record for employers to reference in the event of an audit or simply to ensure compliance with company policy.
\n“With wage and hour laws, [reporting] is really important if you’re ever audited,” Brockway said. “If an employer moves forward with automating systems, they can usually track and report that data. It can also minimize operational costs, free up personnel for higher level tasks and add value to the organization.”
\nCheck out our picks for the best time and attendance software to help you choose the best platform for your team. For example, our Time Doctor review offers a closer look at the platform’s productivity-boosting tools, while our review of When I Work breaks down a solution for brick-and-mortar businesses like retail stores and restaurants.
\nDevelop a meal and rest break policy you can stand behind
\nUnderstanding the meal and rest break laws and regulations that apply to your business, both federally and in the states in which you operate, is critically important. Work with your legal counsel to devise a company policy that adheres to all current regulations, and revisit it regularly to make sure you’re in compliance with the latest guidelines from state and federal agencies. Ensuring your employees have adequate meal and rest break times can also reduce turnover and boost morale and productivity, so build time to recharge into your employees’ schedules.
"}},{"_index":"wp-index-bnd-prod-content","_type":"content","_id":"803","_score":2,"_source":{"canonical":"https://vaylees.com/16177-employee-time-theft.html","displayModified":"2024-01-10T18:32:15Z","docType":"article","editorsPick":false,"href":"16177-employee-time-theft.html","id":"803","ID":803,"isSponsored":false,"published":"2021-06-15T15:00:00Z","site":"bnd","stream":"Learn how to avoid time theft and manage employee attendance better. ","subtitle":"Learn how to avoid time theft and manage employee attendance better. ","title":"8 Ways Employees Steal Time","author":{"displayName":"Adam Uzialko","email":"auzialko@business.com","thumbnail":"https://images.vaylees.com/app/uploads/2022/04/15055430/adam-uzialko.jpg","type":"Senior Editor"},"channels":{"primary":{"name":"Lead Your Team","slug":"lead-your-team"},"sub":{"name":"Managing","slug":"managing"}},"meta":{"robots":"index, follow","description":"Employees may steal time from your business, sometimes without realizing it. Learn how time theft occurs and how to enforce time and attendance policies."},"thumbnail":{"path":"https://images.vaylees.com/app/uploads/2022/04/04073022/Boss-employee-conflict_fizkes_Getty-Images.png","caption":"fizkes / Getty Images","alt":""},"content":"With so much money in annual payroll losses, most employers must adjust tracked time before processing payroll. While some employees give themselves a few extra minutes occasionally, others skim over an hour a day from company time. Creating an attendance policy upfront with your employees can help avoid time theft and better manage employee attendance.
\n\n\n \n\n\n8 ways employees steal company time
\nHere are eight ways employees may be stealing company time from your business – sometimes without realizing it.
\n1. Unauthorized clocking in and out
\nEmployees may get a co-worker to clock in or out for them when they aren’t really in attendance. For example, a co-worker might clock an employee in if they’re running late. This practice is known as “buddy punching.”
\nThis type of time theft costs companies in the United States hundreds of millions of dollars in payroll expenses each year. Since payroll budgets are typically one of a business’s highest costs, buddy punching could result in sizable expenses for many companies.
\nImproperly clocking a worker in or out is a deliberate offense that should result in discipline or termination after corrective measures have been taken and ignored. It’s crucial to manage employee attendance with a time clock system that makes it difficult, if not impossible, for employees to clock in or out for one another. Some employers even have card-swipe systems for clocking in or out, significantly reducing this issue.
\n2. Disappearing on the job
\nIn some work environments, particularly large offices and outdoor work sites, it can be easy for an employee to stroll off unbeknownst to a busy supervisor. It could take time for anyone to even notice this theft of company time; unfortunately, it can seriously impact operational efficiency.
\nCompanies with large offices and recreational areas for employees are more likely to encounter this issue than other workplaces. If you’re managing a remote workforce, you can be particularly vulnerable to employees who disappear on the job and never realize it’s a problem.
\nTo identify this type of time theft, monitor productivity and note significant decreases and missed deadlines. If you suspect an employee of stealing time, keep closer tabs on that individual.
\n\n\n \n\n\n3. Employees rounding time up
\nVarious time and attendance software solutions may round time differently. Some may round up to the nearest 15 minutes (0.25 hours), while others round time in three-minute increments (0.05 hours).
\nEmployees sometimes stall the clock before officially clocking out to round up their time, especially if they feel they may fall short of their daily hour requirements. According to the U.S. Department of Labor, you can legally make time clock rounding adjustments for your employees – within reason. For example, if you can demonstrate that an employee is intentionally stalling to round up their time, you may be able to fix the distorted time sheet. Rounding adjustments must not be biased toward the employee or yourself; it must be a neutral adjustment to the closest increment.
\n4. Sleeping on the job
\nThe U.S. is arguably one of the most overworked countries in the world. Data from the U.S. Bureau of Labor Statistics shows that full-time employees tend to work over 40 hours weekly, working 8.5 hours daily on average. Between work and other responsibilities, American workers can be exhausted.
\nHowever, employees should still avoid falling asleep on the job to prevent lost productivity or, worse, unsafe conditions. The employees most likely to fall asleep at work are those who:
\n\n- Work in a more laid-back environment (e.g., at home or in a private office)
\n- Work overtime or extended hours
\n- Work night hours when most people are asleep
\n
\nInitially, you should hold one-on-one conversations with employees who sleep on the job. However, if the behavior persists, consider disciplinary action.
\n\n\n \n\n\n5. Extended lunch breaks
\nMost employees get 30 minutes to an hour for lunch. However, some employees may habitually take longer breaks. While running over break time occasionally is understandable, consistently lengthy breaks can cause productivity issues. Whether an employee misses important meetings or project deadlines, the time they spend away when you expect them to work could have a domino effect.
\nTo make matters worse, employees may ask co-workers to do some buddy punching for them to avoid disciplinary action for excessive break time. Buddy punching makes this infraction even more serious because it’s deliberate time theft.
\nReview employee meal and rest break laws for your area to ensure you provide adequate breaks. As long as you provide sufficient time, you should immediately address any additional time employees take.
\n6. Distractions from work computers
\nTechnology is a perennial distraction in the workplace. Millions of jobs require employees to work on a desktop computer or laptop, and the temptation to abuse this easy internet access can be compelling.
\nEmployees often go outside authorized technology usage to conduct the following activities:
\n\n- Online shopping
\n- Handling personal business (e.g., paying bills)
\n- Browsing social media
\n- Reading the news
\n
\nThe most effective way to restrict computer usage is to place a companywide block on external websites that enable computer misuse. This measure requires extra IT work that may or may not be worth it to you. Blocking time-wasting websites and platforms can help boost productivity, but many businesses allow some flexibility with online access.
\n\n\n \n\n\n7. Mobile phone usage
\nMobile devices, particularly smartphones, are the ultimate distraction. Employees may be too preoccupied with their phones on the job, causing a decline in their work performance.
\nAccording to the Digital 2023: Global Overview Report, the average mobile phone user spends over five hours daily using their phone. Considering seven or eight hours of sleep, this means we’re spending nearly 30 percent of our waking hours on our phones. It’s no wonder employees get distracted browsing social media, making long phone calls, texting friends, playing games and shopping online.
\nConsider implementing a mobile phone usage policy so employees understand your expectations for phone usage. Enforce the policy with write-ups for repeated warnings and potential termination if employees don’t improve their behavior.
\n\n\n \n\n\n8. Excessive smoke breaks
\nMany employers are lenient about smoke breaks; some workplaces even have designated smoking areas. The problem occurs when employees take excessive smoke breaks throughout their shifts. Smoking on a lunch break may be fine, but the time an employee spends away from work to smoke or vape while on the clock can add up to significant time theft.
\nYou can give some time as a reasonable accommodation for smoke breaks as long as it’s short, as the Americans with Disabilities Act states that employers should not encourage addiction. Set a policy that clarifies the allotted time for smoke breaks on and off company time. The policy should also clearly state where employees can take smoke breaks on company premises.
\nHow to enforce policies on time theft
\nNo matter what company policies you enact to improve employee productivity and reduce time theft, these scenarios will continue if you don’t enforce those policies. While occasional infractions may not be a big deal, you should have a system for handling repetitive occurrences.
\nStart by having conversations with employees. Approach them with concern and see if a personal issue is pulling them away from work responsibilities. If so, work together to find a compromise, such as time off work for them to get things in order.
\nIf the offenses persist, refer to your disciplinary action policy. Disciplinary actions typically begin with write-ups, progress to employment probation and ultimately escalate to termination if the problem is not resolved.
\nThe best time and attendance software for tracking time
\nWhen choosing a time and attendance system, consider features that make time theft difficult or impossible. Here are a few of our top choices for the best time and attendance software on the market.
\nTimeClock Plus
\nTimeClock Plus is a time and attendance application that provides users with multiple time clock options, from biometric time clocks to mobile clock apps. It allows organizations of all sizes to identify time theft or any concerning employee patterns. The system automates tasks like paid time off (PTO) tracking and integrates with enterprise software and apps. Read our detailed TimeClock Plus review to learn about the platform’s service plans and prices.
\nWhen I Work
\nWhen I Work is an excellent tool for reducing time theft. The service offers a photo check-in option that prevents actions like buddy punching and provides shift confirmation tools and reminders for missed clock-ins. Check out our in-depth When I Work review to learn how the platform’s dashboard provides a view of unfilled shifts to help you identify discrepancies.
\nRippling Time and Attendance
\nRippling helps you create rules to customize your time tracking and help reduce time theft. By setting custom alerts, you can easily identify missed breaks or other concerning employee behavior. Our detailed Rippling Time and Attendance review details the platform’s intuitive dashboard and quick implementation process.
\nEliminating time theft in the workplace
\nWhile you don’t want to micromanage every second of your employees’ time, it’s important to look out for your business and ensure no one takes advantage of you. Some employees will (often unintentionally) steal minutes to hours of your time via mobile device distractions, consistently rounding up their time, or taking excessive breaks. Thankfully, the right time and attendance tracking system and clear behavior policies can help you prevent these costly issues.
\nSammi Caramela contributed to this article.
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