#hrbenefits
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Unravel the truth about HR outsourcing in our latest article! Explore common misconceptions surrounding HR outsourcing and uncover the reality behind them.
Don't let myths hinder your potential - discover the real benefits of HR outsourcing today!
https://www.linkedin.com/pulse/myth-vs-reality-debunking-hr-outsourcing-myths-bizessence-pty-ltd-nfwmc
#bizessence#hroutsourcing#businessmyths#hrstrategy#businessinsights#debunkingmyths#costeffectiveness#hrmyths#outsourcetruth#hrbenefits#uncoverreality#hrinsights#businesssolutions#workforcemanagement#hiring
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Employee Retention Credit Demystified for Business Prosperity
In the dynamic landscape of business, one of the key challenges faced by organizations is retaining talented employees. The Employee Retention Credit (ERC) has emerged as a powerful tool, providing financial incentives for businesses to retain their workforce.
In this article, we will delve into the intricacies of the Employee Retention Credit, shedding light on its significance for business prosperity. Additionally, we'll explore how Ignite HCM, a leading human capital management solution, can seamlessly integrate with ERC strategies to drive organizational success.
Understanding the Employee Retention Credit
The Employee Retention Credit is a tax credit introduced by the U.S. government to encourage businesses to retain employees during challenging times, such as the COVID-19 pandemic. It provides a financial incentive to employers who keep employees on their payroll, even if they are not working due to pandemic-related disruptions or experience a significant decline in revenue.
Key Benefits of Employee Retention Credit
Financial Support for Retention Efforts
The ERC offers a substantial tax credit that can be a game-changer for businesses looking to weather economic uncertainties. By providing financial support for retaining employees, it becomes a lifeline for companies navigating through challenging times.
Flexibility in Eligibility Criteria
The eligibility criteria for Employee Retention Credit have evolved, making it more inclusive. Initially designed for businesses affected by the pandemic, it has been expanded to accommodate various scenarios, making it accessible to a broader range of industries and organizations.
Maximizing Tax Credits
Understanding the nuances of ERC is crucial to maximizing the available tax credits. Ignite HCM, with its robust capabilities in human capital management, can play a pivotal role in optimizing ERC benefits for businesses. By leveraging Ignite HCM's features, organizations can ensure accurate tracking of employee data and payroll information, ultimately maximizing the potential ERC benefits.
Ignite HCM and Employee Retention Credit Synergy
Ignite HCM is a comprehensive human capital management solution that empowers businesses to streamline their HR processes. When integrated with ERC strategies, Ignite HCM becomes a strategic partner in maximizing the benefits of this tax credit. Here's how Ignite HCM can synergise with ERC
Accurate Data Tracking
Ignite HCM excels in accurate and efficient data tracking. For ERC, precision in tracking employee data, including payroll and work status, is essential. Ignite HCM ensures that businesses have a reliable system in place for recording and monitoring the information needed to qualify for the credit.
Streamlined Compliance
Employee Retention Credit compliance can be complex, with eligibility criteria and regulations frequently changing. Ignite HCM keeps businesses ahead of compliance challenges by providing real-time updates and ensuring that organizations stay informed and aligned with ERC requirements.
Customized Reporting
Generating reports for ERC documentation can be a time-consuming process. Ignite HCM simplifies this by offering customized reporting features. Businesses can quickly generate the necessary reports to demonstrate compliance and eligibility for the tax credit, saving time and resources.
Strategic Workforce Planning
Ignite HCM goes beyond ERC compliance, offering strategic workforce planning tools. By analysing workforce trends and data, organizations can make informed decisions about their staffing needs, contributing to long-term prosperity.
Conclusion
Demystifying the Employee Retention Credit is essential for businesses seeking financial stability and prosperity. Ignite HCM emerges as a key player in this journey, providing the tools and capabilities needed to navigate the complexities of ERC with ease.
As organizations strive to retain their valuable employees, understanding and implementing effective ERC strategies, coupled with Ignite HCM integration, can pave the way for sustained success and growth.
#EmployeeRetentionCredit#TaxCredits#HRBenefits#BusinessIncentives#TaxIncentives#EmployeeRetention#SmallBusinessTax
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How The Home Depot Enables Employees for Financial Success. Expedition Money is a financial wellness program that motivated employers can use. #financialwellness #financialwellbeing #financialfreedom #financialindependence #hrbenefits
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Tom Brady Just Answered ‘Yes’ to a Very Controversial Question
Maybe you’re not a football fan.
Maybe you don’t care that Rob Gronkowski is coming out of retirement to reunite with Tom Brady and play for the Tampa Bay Buccaneers.
But maybe you run a business. And if so, you should pay attention.
Sports events are suspended right now, but Brady and Gronkowski are putting on a show right now–about how to recruit super-high performers to your team, regardless of other considerations.
Really, it comes down to the resounding answer that the two NFL stars have given by their actions, to what a Gallup writer calls the “most controversial” question the company asks in employee engagement research.
That question is: “Do you have a best friend at work?”
This is despite the fact that Gallup’s research “has repeatedly shown a concrete link between having a best friend at work and the amount of effort employees expend in their job,” the company’s Annamarie Mann wrote.
Separately, Yale University professors Emma Seppala and Marissa King reached similar conclusions, writing in Harvard Business Review:
“[P]eople who have a “best friend at work” are not only more likely to be happier and healthier, they are also seven times as likely to be engaged in their job.
What’s more, employees who report having friends at work have higher levels of productivity, retention, and job satisfaction than those who don’t.”
Which brings back us to Brady and Gronkowski: “best friends at work.”
After 20 years playing quarterback for the New England Patriots, including six Super Bowl championships, Brady left as a free agent this year and signed with Tampa Bay.
The bigger surprise is that his teammate Gronkowski, who won three of those Super Bowls with Brady but retired from the NFL two years ago, came back to play with him.
(The Patriots traded him to the Buccaneers at his request, since they still held his rights and contract.)
These two players are incredibly productive teammates. Brady has thrown 78 touchdown passes to Gronkowski over the years, more than twice as many as his second-favorite target.
But they’re not just teammates. They’re “best friends” according to media reports.
Honestly, all you have to do is look at the video that they put together on Instagram announcing their reunion to realize that this is about much more than a job for them.
Neither them needs the money. (Gronkowski reportedly never spent a penny of the $54 million he made during his career up until now.)
Neither of them really has anything more to prove.
Well, Brady pretty clearly wants at least one more Super Bowl ring, and to play for a few more years. But the reunion in Tampa is about working with the people they really want to work with–again.
Think about that when you’re trying to hire or recruit.
Can you do things to make your company the kind of place where people make friends for life? Or can you recruit friends of the employees and people you’d like to hire?
It might be a controversial question. But the takeaway is clear.
People want to work with close friends. Ask how you can make that happen, and you’ll recruit more of the best.
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Maybe you're not a football fan.
n
Maybe you don't care that Rob Gronkowski is coming out of retirement to reunite with Tom Brady and play for the Tampa Bay Buccaneers.
n
But maybe you run a business. And if so, you should pay attention.
n
Sports events are suspended right now, but Brady and Gronkowski are putting on a show right now--about how to recruit super-high performers to your team, regardless of other considerations.
n
Really, it comes down to the resounding answer that the two NFL stars have given by their actions, to what a Gallup writer calls the "most controversial" question the company asks in employee engagement research.
n
That question is: "Do you have a best friend at work?"
n
This is despite the fact that Gallup's research "has repeatedly shown a concrete link between having a best friend at work and the amount of effort employees expend in their job," the company's Annamarie Mann wrote.
n
Separately, Yale University professors Emma Seppala and Marissa King reached similar conclusions, writing in Harvard Business Review:
n
"[P]eople who have a "best friend at work" are not only more likely to be happier and healthier, they are also seven times as likely to be engaged in their job.
n
What's more, employees who report having friends at work have higher levels of productivity, retention, and job satisfaction than those who don't."
n
Which brings back us to Brady and Gronkowski: "best friends at work."
n
After 20 years playing quarterback for the New England Patriots, including six Super Bowl championships, Brady left as a free agent this year and signed with Tampa Bay.
n
The bigger surprise is that his teammate Gronkowski, who won three of those Super Bowls with Brady but retired from the NFL two years ago, came back to play with him.
n
(The Patriots traded him to the Buccaneers at his request, since they still held his rights and contract.)
n
These two players are incredibly productive teammates. Brady has thrown 78 touchdown passes to Gronkowski over the years, more than twice as many as his second-favorite target.
n
But they're not just teammates. They're "best friends" according to media reports.
n
Honestly, all you have to do is look at the video that they put together on Instagram announcing their reunion to realize that this is about much more than a job for them.
n
n
n
n
n
n
View this post on Instagram
n
n
n
n
n
n
n
n
n
n
Time to run it back Gronky!
n
A post shared by Tom Brady (@tombrady) on Apr 22, 2020 at 7:16am PDT
Neither them needs the money. (Gronkowski reportedly never spent a penny of the $54 million he made during his career up until now.)
n
Neither of them really has anything more to prove.
n
Well, Brady pretty clearly wants at least one more Super Bowl ring, and to play for a few more years. But the reunion in Tampa is about working with the people they really want to work with--again.
n
Think about that when you're trying to hire or recruit.
n
Can you do things to make your company the kind of place where people make friends for life? Or can you recruit friends of the employees and people you'd like to hire?
n
It might be a controversial question. But the takeaway is clear.
n
People want to work with close friends. Ask how you can make that happen, and you'll recruit more of the best.
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Maybe you're not a football fan.
n
Maybe you don't care that Rob Gronkowski is coming out of retirement to reunite with Tom Brady and play for the Tampa Bay Buccaneers.
n
But maybe you run a business. And if so, you should pay attention.
n
Sports events are suspended right now, but Brady and Gronkowski are putting on a show right now--about how to recruit super-high performers to your team, regardless of other considerations.
n
Really, it comes down to the resounding answer that the two NFL stars have given by their actions, to what a Gallup writer calls the "most controversial" question the company asks in employee engagement research.
n
That question is: "Do you have a best friend at work?"
n
This is despite the fact that Gallup's research "has repeatedly shown a concrete link between having a best friend at work and the amount of effort employees expend in their job," the company's Annamarie Mann wrote.
n
Separately, Yale University professors Emma Seppala and Marissa King reached similar conclusions, writing in Harvard Business Review:
n
"[P]eople who have a "best friend at work" are not only more likely to be happier and healthier, they are also seven times as likely to be engaged in their job.
n
What's more, employees who report having friends at work have higher levels of productivity, retention, and job satisfaction than those who don't."
n
Which brings back us to Brady and Gronkowski: "best friends at work."
n
After 20 years playing quarterback for the New England Patriots, including six Super Bowl championships, Brady left as a free agent this year and signed with Tampa Bay.
n
The bigger surprise is that his teammate Gronkowski, who won three of those Super Bowls with Brady but retired from the NFL two years ago, came back to play with him.
n
(The Patriots traded him to the Buccaneers at his request, since they still held his rights and contract.)
n
These two players are incredibly productive teammates. Brady has thrown 78 touchdown passes to Gronkowski over the years, more than twice as many as his second-favorite target.
n
But they're not just teammates. They're "best friends" according to media reports.
n
Honestly, all you have to do is look at the video that they put together on Instagram announcing their reunion to realize that this is about much more than a job for them.
n
n
n
n
n
n
View this post on Instagram
n
n
n
n
n
n
n
n
n
n
Time to run it back Gronky!
n
A post shared by Tom Brady (@tombrady) on Apr 22, 2020 at 7:16am PDT
Neither them needs the money. (Gronkowski reportedly never spent a penny of the $54 million he made during his career up until now.)
n
Neither of them really has anything more to prove.
n
Well, Brady pretty clearly wants at least one more Super Bowl ring, and to play for a few more years. But the reunion in Tampa is about working with the people they really want to work with--again.
n
Think about that when you're trying to hire or recruit.
n
Can you do things to make your company the kind of place where people make friends for life? Or can you recruit friends of the employees and people you'd like to hire?
n
It might be a controversial question. But the takeaway is clear.
n
People want to work with close friends. Ask how you can make that happen, and you'll recruit more of the best.
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pageInfo.articles = [{"inc_headline":"Tom Brady Just Answered 'Yes' to a Very Controversial Question","inc_homepage_headline":"Tom Brady Just Answered 'Yes' to a Very Controversial Question","inc_homepage_headline_ab_test":null,"inc_twitter_headline":"Tom Brady Just Answered 'Yes' to a Very Controversial Question @billmurphyjr","inc_rubric":null,"inc_title":"Tom Brady Just Answered 'Yes' to a Very Controversial Question","inc_custom_byline":null,"inc_deck":"The answer is simple, but nobody can do it alone.","inc_homepage_deck":null,"inc_sharing_deck":null,"inc_clean_text":"
Maybe you're not a football fan.
n
Maybe you don't care that Rob Gronkowski is coming out of retirement to reunite with Tom Brady and play for the Tampa Bay Buccaneers.
n
But maybe you run a business. And if so, you should pay attention.
n
Sports events are suspended right now, but Brady and Gronkowski are putting on a show right now--about how to recruit super-high performers to your team, regardless of other considerations.
n
Really, it comes down to the resounding answer that the two NFL stars have given by their actions, to what a Gallup writer calls the "most controversial" question the company asks in employee engagement research.
n
That question is: "Do you have a best friend at work?"
n
This is despite the fact that Gallup's research "has repeatedly shown a concrete link between having a best friend at work and the amount of effort employees expend in their job," the company's Annamarie Mann wrote.
n
Separately, Yale University professors Emma Seppala and Marissa King reached similar conclusions, writing in Harvard Business Review:
n
"[P]eople who have a "best friend at work" are not only more likely to be happier and healthier, they are also seven times as likely to be engaged in their job.
n
What's more, employees who report having friends at work have higher levels of productivity, retention, and job satisfaction than those who don't."
n
Which brings back us to Brady and Gronkowski: "best friends at work."
n
After 20 years playing quarterback for the New England Patriots, including six Super Bowl championships, Brady left as a free agent this year and signed with Tampa Bay.
n
The bigger surprise is that his teammate Gronkowski, who won three of those Super Bowls with Brady but retired from the NFL two years ago, came back to play with him.
n
(The Patriots traded him to the Buccaneers at his request, since they still held his rights and contract.)
n
These two players are incredibly productive teammates. Brady has thrown 78 touchdown passes to Gronkowski over the years, more than twice as many as his second-favorite target.
n
But they're not just teammates. They're "best friends" according to media reports.
n
Honestly, all you have to do is look at the video that they put together on Instagram announcing their reunion to realize that this is about much more than a job for them.
n
n
n
n
n
n
View this post on Instagram
n
n
n
n
n
n
n
n
n
n
Time to run it back Gronky!
n
A post shared by Tom Brady (@tombrady) on Apr 22, 2020 at 7:16am PDT
Neither them needs the money. (Gronkowski reportedly never spent a penny of the $54 million he made during his career up until now.)
n
Neither of them really has anything more to prove.
n
Well, Brady pretty clearly wants at least one more Super Bowl ring, and to play for a few more years. But the reunion in Tampa is about working with the people they really want to work with--again.
n
Think about that when you're trying to hire or recruit.
n
Can you do things to make your company the kind of place where people make friends for life? Or can you recruit friends of the employees and people you'd like to hire?
n
It might be a controversial question. But the takeaway is clear.
n
People want to work with close friends. Ask how you can make that happen, and you'll recruit more of the best.
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Maybe you're not a football fan.
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Maybe you don't care that Rob Gronkowski is coming out of retirement to reunite with Tom Brady and play for the Tampa Bay Buccaneers.
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But maybe you run a business. And if so, you should pay attention.
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Sports events are suspended right now, but Brady and Gronkowski are putting on a show right now--about how to recruit super-high performers to your team, regardless of other considerations.
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Really, it comes down to the resounding answer that the two NFL stars have given by their actions, to what a Gallup writer calls the "most controversial" question the company asks in employee engagement research.
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That question is: "Do you have a best friend at work?"
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This is despite the fact that Gallup's research "has repeatedly shown a concrete link between having a best friend at work and the amount of effort employees expend in their job," the company's Annamarie Mann wrote.
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Separately, Yale University professors Emma Seppala and Marissa King reached similar conclusions, writing in Harvard Business Review:
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"[P]eople who have a "best friend at work" are not only more likely to be happier and healthier, they are also seven times as likely to be engaged in their job.
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What's more, employees who report having friends at work have higher levels of productivity, retention, and job satisfaction than those who don't."
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Which brings back us to Brady and Gronkowski: "best friends at work."
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After 20 years playing quarterback for the New England Patriots, including six Super Bowl championships, Brady left as a free agent this year and signed with Tampa Bay.
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The bigger surprise is that his teammate Gronkowski, who won three of those Super Bowls with Brady but retired from the NFL two years ago, came back to play with him.
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(The Patriots traded him to the Buccaneers at his request, since they still held his rights and contract.)
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These two players are incredibly productive teammates. Brady has thrown 78 touchdown passes to Gronkowski over the years, more than twice as many as his second-favorite target.
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But they're not just teammates. They're "best friends" according to media reports.
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Honestly, all you have to do is look at the video that they put together on Instagram announcing their reunion to realize that this is about much more than a job for them.
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View this post on Instagram
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Time to run it back Gronky!
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A post shared by Tom Brady (@tombrady) on Apr 22, 2020 at 7:16am PDT
Neither them needs the money. (Gronkowski reportedly never spent a penny of the $54 million he made during his career up until now.)
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Neither of them really has anything more to prove.
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Well, Brady pretty clearly wants at least one more Super Bowl ring, and to play for a few more years. But the reunion in Tampa is about working with the people they really want to work with--again.
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Think about that when you're trying to hire or recruit.
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Can you do things to make your company the kind of place where people make friends for life? Or can you recruit friends of the employees and people you'd like to hire?
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It might be a controversial question. But the takeaway is clear.
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People want to work with close friends. Ask how you can make that happen, and you'll recruit more of the best.
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Tags: Answered, Brady, Controversial, Question, Tom
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5 Key Benefits of HR Outsourcing
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