AVI-SPL celebrates three TrustRadius Winter 2023 Best of Awards in the video conferencing category.
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Below is a roundup of resources on the recent hot employment topics, including those touched on by President Biden in his State of the Union. While we know a possible recession and inflation is on people’s minds as well, these are the topics we’re hearing most about on the employment side of things.
Stay ahead of the game on changes to stay compliant and keep your company in good legal standing. If you don’t have an internal department in position to do this, it’s a smart business move to outsource to someone that does. If you think your business could benefit, let’s chat!
The post What to Know About 5 Hot Employment Topics (From Pay Transparency to New Minimum Wages) appeared first on PayReel.
For millions of American workers, the struggle to reach their full potential in their careers has been made even more difficult by non-competes – agreements that hinder career growth, harm entrepreneurial business, and restrain wages. But now, thanks to the Federal Trade Commission’s proposed new rule banning employers from imposing these restrictions, an estimated $300 billion of increased salaries and expanded career opportunities could be available for workers to take advantage of.
For an employer, the new rule would prohibit the ability to:
– Continue an existing non-compete with an employee
– Try to get an employee involved in a non-compete
– Subject an employee to a non-compete
According to the FTC, non-competes promote an unethical job market and violate Section 5 of the Federal Trade Commission Act.
With this new rule, employees and employers could finally break free from the restrictions and limitations of non-competes and get back to reaching their full potential. Whether you’re looking to switch jobs or start a new business, here are reasons why you should be excited about this proposed FTC rule:
– Increased Wages for Millions of Workers: The new rule could lead to an estimated $300 billion in wages per year for American workers.
– Expanded Career Opportunities: With the proposed rule, employers will no longer be able to impose restrictions on their employees, opening up more possibilities and more significant career growth potential.
– Open Doors to Entrepreneurs: The proposed rule could give aspiring entrepreneurs more freedom to bring their ideas and creations to life without worrying about non-compete restrictions.
Banning non-compete clauses benefit workers and employers because it allows employees to explore new job opportunities without feeling tied down. Without these restrictive agreements, individuals will be free to move beyond their current positions, allowing them to reach their full potential.
For employers, this helps foster a culture of innovation and competition that can ultimately benefit their workplace and the wider community. Additionally, banning non-compete clauses can help create a more equitable playing field, as all companies will have access to key employees. This ultimately leads to a fairer market where everyone has the opportunity to succeed. Finally, these benefits make it clear that banning non-compete clauses benefits workers and employers and should be strongly considered by all companies.
Unfair non-compete agreements can harm businesses and workers, preventing job mobility and innovation. By banning non-compete clauses, you can protect your rights and take control of your legal landscape. Get informed, get empowered, and get the legal solutions you need to succeed in today’s competitive business environment.
Contact us today to learn more about how our workforce management solutions can help you navigate the continuously changing landscape and requirements of employing individuals.
The post FTC Proposes to Ban Non-Compete Clauses appeared first on Maslow Media.
There are many perks of hiring independent contractors, including being able to: Engaging independent contractors is very appealing, but is only to a company’s advantage when they stay in accordance with IRS guidelines. Otherwise, they could find themselves in very hot, very expensive water. Doing the right things up front will save you headaches later. It’s that whole ounce of prevention thing. One of the most important things you can do to stay on solid ground is to classify workers correctly. It’s one of the very best ways to avoid unwanted interactions with the IRS. A worker’s classification is the foundation for what benefits they’re entitled to by law. There’s a misconception out there that the IRS is only paying to the big companies—the Ubers and Instacarts of the world. This isn’t true and it’s quite a risk to operate like it is. Expensive legal disputes over worker classification have affected companies whose names you’ve never heard of right alongside the Fortune 500 companies that make the headlines. Following the rules and classifying correctly from the beginning saves time in the long run and puts companies on solid ground if the IRS does come knocking. Classification rules are always changing, right along with the employment landscape. Businesses cannot set something up and then forget about it. We cannot predict exactly how things will change, but we can be sure that they will. A new system could include portable benefits that travel with workers from company to company or something we’ve not heard anything about yet. Whatever happens, businesses that stay in tune with legal considerations are in position to adapt as those changes come. When a company doesn’t have the internal staff or bandwidth to accomplish this, engaging a third party to handle the details is a very sound business decision. An independent contractor arrangement can be good for workers and companies alike. Many workers prefer the setup and, with lower costs to employers, it can be a win-win. Still, since workers have to make their own arrangements for retirement, health insurance, and worker’s compensation, which can be a burden. The main way to prevent issues surrounding this is for both parties to understand expectations up front. Whether they’re working for you for a one-time assignment or have a monthly agreement, having a contract with each independent contractor is important. It’s not just good for businesses. Having clear expectations up front is good for workers, too. Currently, there is no standard playbook that guides businesses exactly how to pay contractors fairly while keeping costs down. To navigate it all legally and ethically, you must have the internal resources or the right partner that does. PayReel keeps up with the rules and developments and makes the adjustments on clients’ behalf. This handy guide helps determine whether having a third party handle these details is a good idea for your business. In addition to handling worker classification, PayReel handles other risky aspects of business, including payroll and payroll taxes. Going above and beyond by classifying workers correctly from the beginning, being in position to adapt to changes, and having a clear understanding of expectations is more than warm a warm and fuzzy notion. It’s a sound business decision, too.
Three Business Principles to Stay Out of Trouble When Engaging Independent Contractors
Do Your Due Diligence Up Front
Make Adjustments When Needed
Have a Mutual Understanding—In Writing—With Every Independent Contractor
The Bottom Line
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ESports are an integral part of college life. Get insights on how to create and expand an eSports program for your institution.
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