Posts by Shannon Gronich | Shannon Procise

Different Forms of Compensation You Can Offer Employees

December 14, 2022 By Shannon Gronich Leave a Comment

There are a lot of options out there when it comes to compensating your employees. You want to find a system that is fair and equitable, while also being affordable for your business. Here are three of the most common forms of employee compensation, and how they work.

Stock Options

Many companies offer their employees stock options as a form of compensation. This can be a great way to attract and retain top talent, as employees can feel like they have a stake in the company’s success. Additionally, stock options can be a tax-efficient way to compensate employees.

However, there is some downside to offering stock options, such as the potential for abuse. For example, employees may be tempted to manipulate their options to maximize their financial gain. As a result, it is important to carefully consider whether stock options are the right type of compensation for your business.

Matching Contributions

An HSA, or Health Savings Account, is a tax-advantaged account that employees can use to save for healthcare expenses. One way to attract and retain employees is to offer a matching contribution to their HSA. Employees can take their HSA dollars and spend them on health expenses like dental care. This not only helps to attract and retain employees but also helps to reduce the overall cost of healthcare.

When employers offer a matching contribution to an HSA, they are effectively saying that they are committed to their employees’ health and well-being. This is a powerful message that can help to build loyalty and trust between employer and employee. The bottom line is that offering a matching contribution to an HSA is good for business. It’s a win-win for both employer and employee.

Benefits

There are many different types of benefits that you can offer employees as compensation. The most common benefits are health insurance, life insurance, and retirement savings plans. However, you can also offer other types of benefits, such as flexible work schedules, child care assistance, and tuition reimbursement. By offering a comprehensive benefits package, you can attract and retain the best employees. Furthermore, research has shown that employees who feel valued and appreciated are more productive and motivated. As such, investing in your employees is good for both them and your business.

Compensating employees fairly is critical for the success of your business. But, there are more ways than one to give them compensation. Consider giving these three types of compensation to your employees.

Did you enjoy this article? Here’s more to read: How to Avoid Overwhelming Employees With Changes

Filed Under: Uncategorized

Why You Should Arrive Early to Your Event Presentation

December 6, 2022 By Shannon Gronich Leave a Comment

If you’re like most people, you hate being late. And if you’re giving a presentation at an event, you definitely don’t want to be the one who keeps everyone waiting. That’s why it’s important to arrive early for your presentation.

These are some of the benefits of arriving early and give some tips on how to make the most of your time.

Prepare Mentally

When it comes to giving a presentation, there are a lot of things that can go wrong. The slides might freeze, the microphone might fail, or you might get stage fright. That’s why it’s so important to arrive early and give yourself time to prepare mentally.

Taking a few minutes to calm your nerves and review your material will help you feel more confident and focused when it’s time to take the stage. And if something does go wrong, you’ll be better prepared to handle it. So next time you have a presentation to give, don’t wait until the last minute to get ready. Arriving early will help you make a great impression and deliver a successful presentation.

Make Sure Your PowerPoint Works

No one likes technical difficulties. One reason why you should arrive early to your event presentation is to make sure your PowerPoint works. A venue with built-in technology will reduce your technical difficulties. Nevertheless, it is always best to be prepared with a backup plan. Have your slides saved on a USB drive in case the computer at the event doesn’t have PowerPoint.

If you are using your own laptop, make sure you have all the necessary cords and adapters. It is also helpful to arrive early so that you can test the microphone and sound system. By arriving early and being prepared, you can avoid any stressful technical difficulties and start your presentation with confidence.

Demonstrate Professionalism

When you walk into a room full of people who are eager to learn about your event, you want to look and feel your best. Part of looking your best is being well-groomed and wearing professional attire, but another important part is being on time. Arriving early to your presentation shows that you’re organized and that you respect your audience’s time. It also allows you to get settled and familiar with your surroundings, so that you can be more relaxed and focused when it’s time to start talking. In short, arriving early is a small but important way to demonstrate professionalism and make a good impression on your audience. So next time you have a presentation, be sure to give yourself plenty of time to get there – it could make all the difference in the world.

There are few things more exciting and nerve wracking than giving a presentation to a group of people. For your presentation to go as smoothly as possible, you need to be prepared. Follow these tips and your next presentation will go off without a hitch.

Did you enjoy reading this article? Here’s more to read. How to Maintain Your Appearance as an Entrepreneur

Filed Under: Events

What to Do When Hiring a Remote Employee

December 1, 2022 By Shannon Gronich Leave a Comment

Reading e-mail. Busy remote worker feeling overloaded while reading e-mail sitting near little dog

As workplaces continue to evolve, more and more businesses are looking to hire remote employees. This allows for more flexibility and autonomy while also saving money for your business. If you are new to the process, there are a few things to keep in mind.

Know How to Market the Position

Your first step will be actually marketing your remote position. Depending on which sites you market your job listings on, there are options for listing the position as remote. For example, when using Indeed, you can list the job as “remote” or “virtual.” This is similar to many other job websites.

In the actual listing, you should also include keywords that indicate it is a remote position. Consider what keywords people will be searching for. Many people might look for “work from home,” “telework,” “virtual,” and more. Using the right words in your listing will draw in more people.

Do Your Due Diligence

When looking for remote employees, it’s easy to just trust people and go forward with the hiring process. However, you want to actually take the time to get to know people and understand important information about them. Background checks can help you get to know an employee better from a distance. You can make sure you’re hiring someone reliable.

A background check can look through work history, medical records, criminal records, etc. Even if you never meet someone in person, you want to know who you’re hiring. As part of the background check, you should request references from the potential employee and contact all those references.

Schedule a Video Interview

There’s only so much you can tell about someone based on their application and online communication. Before hiring someone, you should hold a video interview. This allows you to get to know them more, see their personality, and discover if they’re really right for the job. This video interview also gives the candidate a chance to ask any questions and learn more about your business. If you decide to hire them, this interview will help you form more of a connection with them so both you and the potential new employee are comfortable communicating in the future.

Hiring a remote employee will vary slightly from hiring a traditional employee. However, the process is not difficult to understand. Take your time and make sure you have clear expectations in place as you look for the right candidates.

Did you enjoy reading this article? Here’s more to read. How to Double Check You’re Making a Good Hiring Decision

Filed Under: Business

How to Protect Your Business From Liability

November 30, 2022 By Shannon Gronich Leave a Comment

When you run a business, you want to make sure you do everything you can to protect that business. Not only is it your livelihood, but it also represents a significant investment of time and money that you have made. While you can’t prepare for every eventuality, there are some basic steps that you can take to protect yourself and your business from liability.

Structure Your Business Properly

The structure that you choose for your business will depend on the type of business and what fits your business plan best but make sure you are taking a few things into account. As the owner of the business, you are responsible for the financial commitments your business makes, and some structures don’t do much to protect you.

Sole proprietorships often have lower taxes, but they also open you up to unlimited personal liability, which means none of your personal assets will be protected. On the other hand, a limited liability company, or LLC, separates your personal and business assets. If your business is sued, your personal assets will be protected and vice versa. This is a big reason this is one of the most popular business structures.

Cover Your Insurance Needs

Businesses are legally required to carry a certain amount of insurance, but it may be a good idea to really look at what you need. Requirements will change depending on the size of your business and what industry you are in. At the same time, just because you have the minimum legally required coverage doesn’t mean you are adequately protected.

If you have physical facilities, you may want to look into covering any assets stored there. Umbrella insurance is designed to supplement your basic liability coverage. This will continue to protect your business, in the case that you do end up liable for more than your business is worth. While hopefully, this will never happen, it can keep your business afloat if needed.

Keep Up to Date on Business Law

Laws can change at any point, and ignorance doesn’t really pass as a defense. It is important to keep up to date with changes in business law to make sure you are compliant with your state and federal laws. The most common laws that change are ones that deal with your employees and other HR issues. If you are unaware of a change and you aren’t compliant, you may leave yourself wide open to a lawsuit. If you have a business lawyer or HR department, they should be able to keep you compliant, but it is important to do the research yourself, so you know what is going on.

Liability is an unfortunate side effect of starting your own business, but you have plenty of tools to protect yourself and your hard work. Taking the proper steps can help reduce the risk and the impact that any liability can have on you. With any luck, all of your proactive steps will pay off, and it will be smooth sailing for you and your business.

Did you enjoy this article? Here’s more to read: How to Reward Higher-Up Employees at Your Business

Filed Under: Uncategorized

Benefits That Every Employee Demands From Employers

November 29, 2022 By Shannon Gronich Leave a Comment

Document with title employee benefits on a desk.

In the modern world of business, you need to compete if you want to make sure that you can keep great employees. This means offering excellent benefits that set you apart from the crowd.

When you do your best to meet the needs of your employees by offering great benefits, you can see the positives it will bring to your business as you grow and change over the years.

Paid Time Off

Most modern employees want to have a generous paid time off policy at their work. This is important because they have a life outside of the workplace, and they deserve to have free time when they need it. This paid time off can be used for vacations, sick time, or personal time.

Try to have a generous policy that gives your employees time to get refreshed outside of the office so they can come back with increased productivity. Having separate vacation and sick pay will make it easier for your employees to keep their contagious illnesses away from the rest of the office.

Insurance Benefits

You should also provide your employees with ample insurance benefits. This will help you to protect the health of your employees and decrease the amount of time your employees will have to stay out of the office due to illness. In addition to health insurance, you should also provide dental and vision insurance.

Dental insurance won’t pay for treatments that aren’t medically necessary. Choosing an insurance policy with an HSA can help your employees to bridge the gap on procedures that aren’t covered by insurance.

Retirement Benefits

Employees nowadays are looking to the future as they choose the jobs that they want to have long term. This means that if you aren’t offering retirement benefits it can turn many employees off of your company. This is especially true as social security benefits are declining and won’t be available in the same way to workers in the future. By providing retirement benefits, you show your employees that you value them and care about their future. Matching your employee’s contributions to their retirement account is a great way to show them how much you value their work.

When you provide your employees with good benefits, you help them to feel more connected to your business. This can also help you to forge meaningful connections with your team as you get closer to your company goals. By providing generous benefits you can set your business up for success now and in the future.

Did you enjoy reading this article? Here’s more to read. How to Avoid Critical Mistakes When Running a Business

Filed Under: Business