From the category archives:

Human Resources

Employers’ Federal UI Taxes Going Down…at Least for Now

by guest on July 6, 2011

This is a guest post written for Maryland Chamber members by Ron Adler, President and CEO of Laurdan Associates and Chair of the Maryland Chamber Unemployement Insurance Subcommittee. For more information, contact Ronald Adler, president-CEO, Laurdan Associates, Inc. at (301) 299-4117 or radler@laurdan.com.

Effective July 1, 2011, the “temporary” federal unemployment insurance (UI) surtax of 0.2% or $14/employee — first imposed on employers in the 1970s, and thereafter temporarily extended 8 times -— has finally expired. As a result the net federal UI tax rate drops to 0.6% from 0.8%.

That’s the good news. The bad news: the federal UI Trust Fund has borrowed tens of billions of dollars from general revenues to pay for UI benefits. This debt has to be repaid and at some point the federal UI Trust Fund, which is financed through employers’ UI taxes, has to be replenished. Among the options being considered is an increase the federal taxable wage base from the current $7,000, which hasn’t been raised for more than two decades, to $15,000.

Raising the federal UI taxable wage base has state UI tax implications, since the various states must have taxable wage bases that equal or exceed the federal taxable wage base. Raising the federal taxable wage base to $15,000 will require 34 states, including Maryland, to raise their state taxable wage bases to match the new federal minimum.

As of June 29, 2011, 29 states had borrowed more than $41 billion from the Federal UI Trust Fund and owed more $874 million in interest payments. If these loans are not repaid, interest payments become due in most states this year. And since states are prohibited from making interest payments from their regular UI taxing structure, they will have to find alternative methods to pay the interest on these loans, including imposing additional state UI taxes on employers.

Additionally for 2011, employers in most of these states begin lose to a portion of the federal UI credit reduction and will have to pay their net 2011 federal UI tax at a higher net tax rate.

Please contact me if you have any questions.

{ 0 comments }

Maryland Chamber Brings Talent Recruitment Savings to its Members

by Nichelle Wilson on May 31, 2011

The Maryland Chamber of Commerce is pleased to offer a new benefit program to our members called S.T.A.R.S (Stellar Talent Augmentation Recruitment Services).

The S.T.A.R.S program was developed by Chamber member, HR Anew. It is a recruitment service that will source, screen, interview and/or refer job applicants to members at a discounted price.

It allows small and large businesses to receive an ongoing pool of qualified C-Level Executives, Management and Professional positions. It will also help businesses:

  • Save money: Cost-effective and as a Maryland Chamber member, you
    receive a discount.
  • Save time: It allows businesses to focus on their business goals while a team of knowledgeable and experienced recruitment consultants deliver highly qualified potential candidates.
  • Limit hiring mistakes: Precise employee placements will result in better performance and retention to build a sustainable team.

Business leaders want to attract, hire and retain the best talent to help their company their goals, while doing it in the most efficient and cost-effective way. HR Anew and the S.T.A.R.S program will help your business do that.

For more information, download the brochure or contact HR Anew at (877) 529-8800.

Watch the video below to hear HR Anew’s President & CEO, Deborah Stallings, talk more about the S.T.A.R.S program.

{ 0 comments }

Calculating the Cost of Employee Turnover

by Nichelle Wilson on April 27, 2011

It’s important for businesses to consider the cost of employee turnover, because it impacts your bottom line. Many companies forget how much it actually costs when an employee leaves and that employee has to be replaced.

Sheila Birnbach, President & CEO of Birnbach Success Solutions, recently shared a turnover worksheet, during a Maryland Chamber seminar, to help members calculate the cost of a turnover.

Watch the video below to follow along with Birnbach as she outlined what to consider when calculating the cost of employee turnover. Here is a PDF of the sample she reviews in the video. Here is a blank copy you can use for your business.

For more information from Sheila Birnbach, visit click here or call (301) 530-6300.

{ 0 comments }

Make Sure Your New Hire is a Perfect Fit

by Nichelle Wilson on April 15, 2011

When reviewing candidates for your organization, there are characteristics you should look for before you hire them, as well as characteristics that you, the employer, should project. Here are some insights from David Utts, CEO of Executive Skillworks:

What to look for in prospective employees?

  • Connection – When a candidate walks into an organization, they should be walking into something they care about. If you make the right fit, you’re going to have someone that will be with you for a long time.
  • Willingness to Learn – A candidate should want to learn more about your business to be successful at the job.
  • People Skills – A candidate should have the ability to relate to customers, colleagues and other people they engage with.
  • Attitude – Look for candidates with a positive attitude. This will benefit staff moral and make it more likely that they deal positively with stressful situations.

What prospective employees are looking for from your organization?

  • Engage – By understanding what your company is about and why you’re in business will help you engage more with your employees. Help the prospect understand the values of your organization.
  • Expectations – Set clear expectations and let the prospect know how they can make and immediate impact in your organization. Always give feedback and support your employees.
  • Caring – Genuinely caring about your employees. If you are not truly invested in your employees, you’re not showing leadership.
  • Professional Development – Make it clear that their growth is a priority for your organization. When employees grow, so does your company.

Whether you are a small business or a large business, it is important to have these characteristics within your organization. Not only does it build loyalty and values, but it also makes a great work environment. For more tips from David Utts, visit www.executiveskillworks.com or call (410) 381-9155.

 

{ 0 comments }

Attract, Retain and Develop Talented Employees

February 28, 2011

Attracting and retaining top talent and building a strong team can be the difference between success and mediocrity. Join the Maryland Chamber’s Business Development Council for its next educational seminar to learn talent management essentials that will help take your company to the next level. Learn strategies to help your company: Attract & Retain Talented [...]

Read the full article →

2011 UI Tax Rate Information Now Available

December 9, 2010

This is a guest post written for Maryland Chamber members by Ron Adler, President and CEO of Laurdan Associates and Chair of the Maryland Chamber Unemployement Insurance Subcommittee. For more information, contact Ronald Adler, president-CEO, Laurdan Associates, Inc. at (301) 299-4117 or radler@laurdan.com. Maryland employers will soon receive their 2011 unemployment insurance (UI) tax rate [...]

Read the full article →

Worker Classifications Are Under the Microscope

December 3, 2010

Earlier this year, the IRS announced a plan to audit 6,000 businesses over the next three years in regards to misclassification of independent contractors, which the federal government claims costs it billions of dollars in revenue each year. The Department of Labor’s proposed budget for 2011 includes $25 million to help it hit its audit [...]

Read the full article →

Background Checks and Drug Screenings

June 28, 2010

So far, our series of posts on the hiring process has covered writing good job descriptions, finding innovative ways to identify candidates, screening applicants and interviewing prospective employees. Now that you’ve chosen a final candidate and preparing to make an offer, it is important to consider conducting background screening and a drug test. HR Anew [...]

Read the full article →

Tips For Interviewing Potential Employees

June 24, 2010

Interviewing a candidate is one of the most important steps in selecting a new employee. The encounter with the candidate can give you a sense of how they will conduct themselves in your workplace, and often it is apparent very quickly whether the candidate is the right fit for the position. If you’ve narrowed down [...]

Read the full article →

How to Screen Applicants

June 16, 2010

Now that you’ve done your recruitment and posted your job ads, it’s time to start sorting through the applications you receive. Reports have said that due to the current job market, employers are flooded with resumes from potential applicants. Keeping this in mind, it is important to narrow your applicant pool to the top candidates, [...]

Read the full article →

← Previous Entries