Use Temp Agencies In Madison WI

Create A Variable Workforce Model Using Temp Agencies In Madison WI

Does it feel like you are spending all of your time hiring permanent employees at your place of business? It may be time to rethink your hiring strategy. For many business owners, this means deviating from a traditional permanent hiring structure and opting instead for a variable workforce model. Using temp agencies in Madison, WI can help you create (and most importantly, maintain) your new hiring standard for optimal success.
Know The Value Of Your Variable Workforce
Most organizations recognize that there is an inherent value to long-term employees. This doesn't mean that a variable workforce can't also deliver some impressive benefits. Teaming with temp agencies in Madison, WI to strategize a temporary employment solution can yield extensive advantages including:
Increased Bandwidth
An upswing in overall available time is one of the first things that you may notice when using temp agencies in Madison, WI. Everyone hired throughout the agency is technically recognized as an employee of the recruiting firm. They will handle the entire process for you so you can focus on your organization's competencies and core business capabilities.
Cost Effective
Variable workforce models also offer a cost-effective alternative to traditional full-time hires. Not only will you not have to allocate internal resources for your hiring process, you will also not have to pay full-time salaries. Temporary workers only get paid for the hours they work and don't receive fringe benefits such as vacation or workers comp, which helps keep your costs at a minimum.
Flexibility
Company executives understand that there's always a level of uncertainty in the business world. Unexpected dips in your revenues can mean having to layoff permanent employees. A variable workforce enables you an enhanced flexibility. You won't have to worry about letting your people go; temporary workers come onboard with no expectations and know that their employment could end at any time.
Long-Term Hires (Eventually)
Best of all, a variable workforce model allows business owners an opportunity to truly "try before you buy" when it comes to making an eventual permanent hire. You will have the chance to see how a candidate performance in a certain role and decide if you'd like to extend full-time employment at any given point.
Contact The Payroll Company today to learn more about customizing your organization's variable workforce model.
This post was originally published at http://www.payrollcompany.biz/use-temp-agencies-madison-wi/

Get The Facts About Your 401K MEP

What To Know About Your 401K MEP

A 401K MEP, also know as multiple employer plan, offers many of the same investment advantages as a standard 40K plan. The basic concept of a 401K MEP allows unaffiliated employees to participate in a common retirement investment plan. Under 413(c) of the Internal Revenue Code, contributing business owners offer retirement savings options under the sponsorship of a third party provider. The third party provider oversees investments, employee/employer participation, and assumes responsibility for administering as needed within the plan.

Does A 401K MEP Make Sense For Your Business?

Working with the right third party provider can make all the difference in your MEP experience. Many businesses owners are surprised to learn that any employer is eligible to offer this type of retirement option to their employees. Finding an experienced team that specializes in MEPs will streamline your plan development process. When screening potential providers, look for a firm that offers a diverse range of options. Whether you are a start-up organization, or a national brand with multiple locations, you will want an investment team capable of meeting you where you're at now, and have the flexibility to grow with your business.

Know The Benefits Offered By This Retirement Savings Plan

Additionally, using a 401K MEP yields several key benefits, making it an ideal option for entrepreneurs running companies of every size and scope. Perhaps the biggest advantage to this type of savings format? It often proves more cost-effective when compared to a standard 401K-investment strategy. A professional provider manages the plan on your behalf, instantly freeing up time as well as saving your organization administrative costs. Also, participating in a plan with other businesses allows you to enjoy volume savings instead of absorbing individual plan costs. Finally, an efficient provider will know how to capitalize on funds that require lower fees.
Most importantly, a MEP allows for design customization so your organization enjoys a perfect investment fit. When working with your third party partner, discuss your specific needs such as vesting schedule, whether your company will match contributions and overall eligibility requirements. Once you've outlined your investment goals, your vendor will develop a final format to launch to employees.
Want to learn more about using a MEP?  Contact The Payroll Company today.
This post was originally published at http://www.payrollcompany.biz/get-facts-401k-mep/

Work With A Staffing Agency In Madison WI

Employee Vs. Contractor – An Annual Review

Working with a staffing agency in Madison, WI can have a significant impact in your overall business model, particularly if you are considering staffing your team with contractors. The choice between employees and contractors should not be taken lightly; savvy entrepreneurs understand that knowing the differences, and benefits associated with each can help make the decision process as straightforward as possible.
Simply deciding that contractors make sense for your business model is only the first step in the process. Hiring contractors requires following specific mandates and regulations to ensure that your business remains compliant throughout the project engagement. One common error made by employers when bringing on contractors? Misclassification. For employers in virtually every industry, staying on top of the classification requirements can prove challenging. Wrongfully classifying an employee can quickly result in significant fines, fees and taxes based on labor laws.
The IRS may also take notice of misclassified employees within your organization. Should you mistakenly place someone who is legally an employee into the contractor category, your business could be vulnerable to other penalties, such as back taxes, Social Security and Medicare. The IRS may not stop there; the department may also pursue you for missing federal and state unemployment taxes as well. Worse yet, if someone you claim is an independent contractor actually claims employee status, you may find your entire organization undergoing a payroll audit.

Work With Staffing Agency In Madison, WI To Ensure Compliance

While some business owners have a firm grasp on the employee vs. contractor question, many struggle making a definitive categorization. The best way to protect your organization from misclassifying workers is to partner with a staffing agency in Madison, WI. Staying on top of the rules and regulations qualifying a contractor can prove a full-time job…and as the leader of your company you already have (at least) one full-time job. A professional staffing agency in Madison, WI will have the knowledge and insight needed to staff your open contractor positions with actual contractors and manage all the documentation.
Most importantly, a professional recruiting team not only knows how to find contractors; they will also know how to manage your contractors. They understand what documentation needs filling out and filing. They will continuously update your contracts and keep them on record so your business never has to worry about noncompliance or false classification.
Discuss The Process When Teaming With A Staffing Firm
Many recruiting agencies emphasize their extensive access to talent. However, in order to avoid potential fines and penalties, you should find a team that also wants to discuss their process. Discuss how they manage documentation that demonstrates contractor status. Ask what your responsibilities are throughout the work engagement. Going into the assignment with a solid understanding of what's expected as well as what you can expect can make a major difference in your overall experience.
Contact The Payroll Company Today For More Information
If you're struggling with categorizing your staff members, The Payroll Company can help. Contact our team of recruiting specialists today to discuss your hiring needs. We look forward to hearing from you!
This post was originally published at http://www.payrollcompany.biz/work-staffing-agency-madison-wi/

Partner With HR Outsourcing Companies

5 Signs It's Time To Outsource HR

Human Resources play a crucial role in the development and growth of any business. However, many organizations tasked with generating revenues and expanding market share simply don't have the time and resources needed for a successful HR Team. If that sounds like your current business status, you should consider HR outsourcing companies as a viable solution.
When do HR outsourcing companies make sense for a specific business model? Each company may have it's own specific outline of when the timing is right. However, knowing a few important factors to watch for can help you decide if HR outsourcing companies are the best choice for your company.
Heavy Emphasis On Administrative Tasks
As you expand your team, you and your current employees may find yourselves drowning in administrative tasks. From new hire paperwork to benefits, payroll and even vacation time, there is much under the human resources umbrella to manage. Outsourcing your processes to a third party provider means that your team can stay focused on core capabilities while your trusted partner manages the HR details.
Your Staff Can't Access Necessary Documents
Self-service is a major benefit of using HR outsourcing companies. A professional provider will implement a streamlined, centralized system where everyone in your organization will have direct access to the information and documents they need for various reasons. If your current human resources department is forever chasing co-workers for documentation, it's time.
Need For Mobile Access
Perhaps you already have centralized access for self-service at the office. But do you have mobile capabilities? In today's globally connected business world, having on-the-go access to needed data can prove critical. An experienced vendor will be able to implement your mobile system so your employees can get whatever they need, wherever they may roam.
HR Isn't An Asset…Yet
All too often, a human resources department operates as a cost center. This factor is often further highlighted during busier seasons when additional reinforcements are brought onboard to manage all the procedures and processes. Having a highly skilled team of outsourced professionals can quickly boost efficiencies and overall level of operations, making it a perfect way to transform your existing department from cost center to strategic asset.
Compliance Struggles
Your HR team isn't just responsible for internal communications and documentation; it's also responsible for keeping up with outside rules and regulations to ensure your business is compliant at all times. This can prove a full-time job in itself; requiring business owners to waste countless hours keeping up with the latest (and ever-changing) laws and mandates. If you're tired of getting caught up with statutory and regulatory requirements, outsourcing the process makes sense.
Contact The Payroll Company Today For More Information
Have you decided it's time to outsource your human resources department? Choosing the right provider can make all the difference. The Payroll Company can help. We offer state-of-the-art human resources' solutions customized to meet your team's specific needs and requirements. Contact us today to hear more!
This post was originally published at http://www.payrollcompany.biz/partner-hr-outsourcing-companies/