Enhance human-centric hybrid workplace designs faster with Epson projectors and AVI-SPL VR design services. Read what’s possible.
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Accurate worker classification is important in every industry and for every company–large or small. That said, any business that relies on a contingent workforce is especially vulnerable. The Biden administration’s decision to rescind the Worker Classification Rule made it easier for workers to argue for minimum wage and overtime protections/compensation. We’ve all seen headlines for the big companies, but companies without recognizable names are facing the same challenges. Smaller companies may try to take the “blissful ignorance” route and face costly consequences later. Ride share companies frequently make headlines, but lately, we’ve seen multiple companies in the healthcare industry end up in hot water.
The gray area between W-2 employees and independent contractors is getting increased attention from the Department of Labor. Every time a new piece of legislation passes in this area, it seems to make the distinction between workers less clear. But one aspect of the trend is clear: It’s getting harder and harder to accurately and safely classify workers as independent contractors. With the big headlines, you’ll find big fines. They’ve cost Uber over $100 million in settlements, with some cases still pending. Still, while it may be tempting to think of this as a big company problem, it’s not true.
Between increasingly-savvy workers and a Democratic-led administration, smaller companies are vulnerable to big problems, too. For example, this at-home healthcare services provider was recently found responsible for over $358K in back wages and this therapy firm’s $9 million bill packed a big punch.
It just isn’t worth it to try to avoid the rules or get away with not knowing them. Ignorance doesn’t hold up in a court of law. Paying close attention to accuracy pays dividends. At PayReel, compliance comes first. We classify your employees properly, and we also pay them properly so that you can hire who you want exactly when you want them. If gray areas aren’t your thing and the term “lawsuit” makes your heart skip a beat—relax, we got it. Contact us around the clock at 303-526-4900 or email us here.
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Over the last few years, enterprises have seen a dramatic growth in the amount of data generated, and the pace of this growth has been accelerating. Not only is the amount of data growing, but the type of the data is changing as well. A decade ago, most of the data generated came from databases, often referred to as ‘structured’ data.
Now, a majority of data is coming from ‘unstructured’ sources, such as video data, files, rich imaging, and artificial intelligence applications. These new types of applications require a modern, high-performance storage platform to manage the data and to extract maximum business value from it. These new storage platforms will need to leverage the latest technologies, such as containers and NVMe storage, for the highest performance, simplicity, and flexibility both on-premises and in the cloud and will need to be much easier to operate. Previous generations of storage systems are cumbersome and complex—never intended to run today’s unstructured data applications– and often require advanced IT skills to manage the system.
Here’s a video from IDC to hear their perspective on the challenges of managing unstructured data and the need for a new type of storage solution. At Quantum, we’re listening to our customers and ready to meet the new era of data and help solve those challenges with modern, flexible software solutions purpose built for unstructured data.
The post IDC Perspective: Why Today’s Unstructured Data Needs a Modern, Flexible Software Solution appeared first on Quantum Blog.
While California is the state that makes headlines for its frequent legislation and tough employment guidelines, Washington is very similar. It’s considered a risky state to bring on independent contractors due to its strict worker classification rules. The high stakes for mistakes mean it’s important for businesses to take care to stay in good standing.
Federal rules around worker classification continue to make it harder for companies to classify workers as independent contractors. Each administration has its own approach to worker classification, but democratic administrations tend to have their sights set on prioritizing misclassification.
In addition to the federal legislation, states have their own rules. Washington has some of the strictest requirements surrounding worker classification and it’s important for companies to pay attention because violators risk strict penalties such as fines, possible jail time, and damage to their reputations.
It depends on who you ask. Governing officials are quick to say their first motivation is watching out for workers. Beyond that, it’s clear that there are serious funds on the line, too. Independent contractors write off business expenses and sometimes underreport income while small businesses can avoid certain taxes with fewer W2 employees. In addition, independent contractors are more difficult to track and tax accurately than W2 employees.
Properly classifying workers is a highly-complicated task. The distinction can depend on factors such as the ability to hire or fire a worker, the kind of occupation, the method of payment, location of the worker and more. Some employers lean toward hiring employees, feeling it gives workers more ownership in the company’s success. Others say leaning on independent contractors makes their business model sustainable. Either way, some companies have had to restructure operations completely or bolster their Human Resources departments to make sure they’re above board.
Washington’s approach to worker classification (among other topics) purportedly intends to protect workers and provide reasonable protections, which is why many consider it one of the most worker-friendly states. Still, some independent contractors find such an approach makes it difficult for them to operate.
Independent contractors set their own schedule and manage their own businesses. While they are still responsible for paying taxes, they can also take advantage of many write-offs. Along with the perks, they do have the responsibilities that come with owning their own business. They run their own books, pay quarterly taxes, advertise, purchase their own equipment, and deal with the seasonal nature of business. Independent contractors also don’t get paid time off and are responsible for purchasing their own health insurance.
Some workers prefer the stability and possibility for advancement that come with being an employee and having a greater presence at the office and familiarity with the ins and outs of the company.
Unless a company is made up 100% of full-time employees, this subject is relevant to operations. Failure to classify employees correctly could result in fines, back taxes, and even jail time. To stay well on top of worker classification rules, businesses can first determine if their operations are exempt from applicable laws. From there, they can follow classification news and observe how changes play out in practice. For those without the capacity or interest in having an internal team dedicated to the task, engaging a partner can be a great option. Working with an Employer of Record (EOR) or Professional Employer Organization (PEO) is standard best practice in this evolving freelancer economy.
While both provide payroll and insurance services, the differentiating factor is that an EOR relieves employers of much of the regulatory risk involved in working with independent contractors while a PEO operates as a co-employer and does not assume the employment risk.
Big companies like Uber make headlines for their missteps and pay equally big fines for their worker classification choices. Still, it can be a costly mistake to think it’s only the big companies that face consequences. By rescinding the Trump Administration’s Worker Classification Rule, the Biden administration made it easier for workers to argue for minimum wage and overtime protections/compensation. In addition to having to pay back 100% of the matching FICA taxes they would have paid had they classified the worker correctly up front, employers can end up subject to additional penalties.
Misclassifying workers does not save money in the long run. Perhaps scarier than the possibility of monetary damages, misclassification has landed some business leaders under house arrest.
In addition, class-action lawsuits, failed audits, and negative headlines can damage a company’s reputation to the point where both workers and consumers are hesitant to engage with the company. It’s just not worth it!
With the increasingly narrow definition of an independent contractor, the US is embarking on the real-time evolution of the economy. The most common mistakes when engaging contractors in Washington are misclassifying workers, (of course!), being lax about training requirements, or making privacy and meal wage/overtime errors.
As the economic landscape shifts and independent contractors rise in prevalence, the financial stakes and potential for missed revenue rise, too. In response, government agencies have been ramping up their focus on the subject. The IRS and DOL are not alone. States are attempting to crack down on misclassification while tightening the reins on training requirements as well as payroll guidelines.
Where the money goes, lawyers follow. There’s big money in class action lawsuits and new cases are always being filed. While fear is never productive, companies should be very, very conscientious when engaging independent contractors in Washington. Companies must be very vigilant to protect their business, stay compliant, and reduce the risk for fines and unpleasant attention from the IRS.
If you don’t have the in-house team to do the job right, it’s worth considering working with a partner. The bottom line is that doing business in Washington is complicated and the consequences for errors can be very damaging. While the onus is on employers to classify workers correctly and stay in line with the state’s changing requirements, it’s possible to navigate a rocky landscape with relative ease.
In our world, accurate worker classification and top-notch risk management when it comes to overtime, meal wage, and other laws are always the priority. We are the first to be aware when change is in the air. We track rules in every state as well as on a federal level and offer services to help clients stay compliant. Curious where your business stands? Reach out for a free consultation on your risk profile.
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Explore four ways Logitech devices can enhance employee Microsoft Teams Room experiences across your hybrid workplace.
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Video dominates our online lives in ways that seemed impossible just a few years ago. The ill-fated “pivot to video,” based on overinflated viewership numbers from social platforms looking for their next monetization strategy, turned countless media companies away from experimenting with the format. But the pandemic brought video back in new and unexpected ways.
Marci Maddox, Research Vice President of Digital Experiences at IDC, shared just how true this is in a PLAY Season 1 episode. “By 2024, 80% of the world’s population will be online—many of whom are Gen Z with an affinity toward video. In 2024, consumers will spend upwards of $10.5 trillion online, of which video will be a growing factor in influencing those buying decisions.”
And it’s reaching people in more places than ever before, too. “The pandemic accelerated the use of video by 32%,” said Maddox. “This was everything from virtual events to personal messages. Video content continues to expand its reach to consumers in their everyday lives, at work, at home, or at play.”
As a result, the prevalence of video will require more companies to “think and act like a media company,” Maddox explained. “Video is entertaining. It’s informative. It can also be a way for us to communicate with one another—and try to communicate to our customers, employees or partners in a new, immersive way.”
Embracing the Media Company Mindset
The time is ripe for companies to start on this journey, because interest in video’s capabilities has expanded beyond marketing teams. “We saw interest in employee recruitment, in learning, in communications, and even in onboarding—some cases for employee onboarding and others for customer onboarding,” said Maddox. “Now, with remote workers, there was a spike in video usage to accommodate executive town halls. And salespeople turn to video to help in their communications in lieu of those traditional in-person meetings.”
To manage these growing use cases, companies have new technology at their fingertips. “More personalized video is going to allow us to use machine learning and real-time data to generate specific calls to action and to drive additional emotional connections,” said Maddox.
One use case for Maddox is in insurance policy renewal. “The marketing team could create a video with the client’s name, plus include historical claims that were made against the policy,” she explained. “You also may be aware of additional purchases of cars or jewelry that would benefit from additional coverage.”
From a customer’s perspective, it’s a no-brainer. “Who wants to go look up the number to call their agent? If we give the users all of that information at their fingertips, now we have not only an instructional video, but we have one that can be a call to action to close a sales deal.”
Further, what used to require expensive hardware and grand production studios now only needs a smartphone, a desktop computer, or cloud-based services. “Ten years ago, organizations that produced video, likely for marketing or entertainment purposes, still found it difficult to handle video consistently,” explained Maddox. “How do I find it? How is it searched? Can I stream it? Does it need to be cached? Does it have geographical reach? Today, organizations can work beyond physical boundaries to capture and produce video content faster.”
Developing a Video Content Strategy
Brightcove’s approach to video content strategy focuses on answering the questions behind “why” and “how” an organization should put video to work. The market tends to get too wrapped up in technology, but our customers ask for advice on how to get more from the video platforms they’re implementing. Our goal is to help organizations realize the business benefits from video, and Maddox offers some helpful tips on where to start.
First, companies need to look at who is creating and who is supporting video within their organizations. “The adoption of video content falls to multiple stakeholders within the company,” said Maddox. “C-suite users are in an ideal position to use video themselves to communicate information to external stakeholders, investors, customers, and to their internal employees.”
Customer support and education teams can also use video more. “Sales, field workers, and other lines of business can look at replacing email, which has been a common method to communicate with their customers,” Maddox added.
Second, review the types of communications that are being sent to customers and to their employees and identify whether or not video would enhance that experience. “It’s just getting into the mindset that these things are possible,” said Maddox.
“Think back to the idea of the renewal of the insurance policy. Would I rather have read a lot of documents on what that renewal looks like, or be guided in the renewal and click to buy at the very end? The latter is more immersive, still informative, and at the end of the day, the level of effort on the customer goes down.”
What does the future hold for companies who make the leap? According to Maddox, “media-oriented companies will work with a variety of video content, from single messages to full, on-demand streaming delivery. And it’s all for the purpose to engage audiences and to achieve specific business outcomes. As you advance, think about using AI and machine learning to assist.”
Creative teams and business users alike will be able to gain insight to customer preferences, said Maddox. “And they will find it just as easy to have a video-based conversation as they did with email, but now with added value for more visual and emotional connection.”
Finally, Maddox advised to continue to evolve your content strategy, using insights that further advance a company’s maturity in thinking and acting like a media company. “Push yourself to understand how video can support you and your customers in this next evolving relationship that you’re building between yourselves.”
At Brightcove, we help you break through the digital noise. Whether your goals are to build followers, drive brand recognition, create pipeline, grow revenue, or communicate with employees, you need a streaming-first strategy and a streaming-first partner.