4 Features Your Payroll Provider Should Offer

As you may already know, there are many different types of payroll processing: ranging from in-house to outsourcing, to even using a CPA. You’ve probably have heard of many different payroll service companies, but do you know exactly what they do and what they offer? Just like their name suggests, payroll companies ensure that employees are paid on time and that all of the employers stay compliant. Obviously, payroll is more than just writing checks, and a good payroll company will offer more than just that. Depending on the size of the company and the software’s capabilities, there are a variety of different things that payroll companies do for their customers.

How to Determine If Unlimited PTO is Right for Your Company

Now that Millennials are making their way into the workforce, companies are looking for new ways to beat the competition and attract the best talent. They offer great benefits such as health, vision, and dental insurance, 401K match, flexible schedules, volunteer time off, and paid time off. Paid time off (PTO) is one of the main benefits young people look for when applying looking to start their careers, and unlimited paid time off has become even more popular. But, despite its popularity, only approximately 1% of U.S. companies have established an unlimited PTO plan. Some of the companies included in that 1% are Netflix, GE, Duo Security, and LinkedIn. Offering unlimited PTO has its pros and its cons, and these can help you find out if implementing an unlimited PTO plan is the right move for your business.

Thinking about allowing your employees to take time off without pay?

Unpaid Time Off can be kind of a tricky policy to navigate. For companies without a 9 to 5 type schedule, such as restaurants or hospitals, it isn’t so bad since employees can pick up and drop shifts with some amount of ease. However, office professions typically have most employees who do similar jobs working at the same time, so they have to rely on Paid Time Off (PTO) for vacations and sick days. But what happens when that PTO bank runs dry? Many factors can contribute to an employee running out of PTO. Perhaps they were a little frivolous early in the year and didn’t plan ahead, or else got ill and had to take more time off than expected. Either way, there usually comes a time when a supervisor or manager gets asked by an employee if they can take some unpaid time off.