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Address Job Stress for Healthier Staff and Profits

November 20, 2024/in Blog, HP Featured/by Sarah Frye

Stress in the workplace is a reality we all face. Whether meeting deadlines, handling a demanding workload, or managing team dynamics, the pressures can quickly add up. For small business owners, understanding and addressing the issue isn’t just about creating a happier workplace but also protecting your business.

What is the Workplace Stress Problem?

A report by Gallup in 2023 showed workplace distress is a global problem, with 44 percent of employees stating they felt a lot of stress at work. And in the U.S., this persuasive problem impacts more than 52 percent of employees.

When stress is short-term, it can have positive effects such as increased motivation and may focus your energy. However, distress is often prolonged, wearing out employees and leading to anxiety, confusion, and poor concentration.

What is the Cost of Stress for Your Business?

Job stress can lead to increased absenteeism, reduced productivity, and higher turnover rates, affecting profitability. A study by the American Institute of Stress estimates stress-related issues cost businesses more than $300 billion annually in health care costs, absentee rates, and diminished performance.

The effects don’t stop there. Stressed employees are more likely to make mistakes, struggle with decision-making, and withdraw from teamwork. This can lead to customer service issues, quality control problems, or even safety concerns.

What are Signs Your Team Members Might Be Stressed?

Recognizing the signs of a staff member being under pressure is the first step in addressing the issue. Here are some common indicators:

Increased Absenteeism: Frequent absences, often without notice or explanation.
Decline in Performance: A noticeable drop in the quality or quantity of work.
Poor Time Management: Missed deadlines and frequent lateness.
Heavier Reliance on Caffeine: A higher dependence on caffeine than normal.
Social Withdrawal: Employees who isolate themselves from team activities.
Physical Symptoms: Complaints about headaches, backaches, or constant fatigue.
Emotional Changes: Sudden displays of anger, anxiety, or frustration.

If you notice these signs, it’s time to take action.

How Can You Reduce Job Stress in Your Workplace?

The good news is that it won’t take a complete overhaul of your business practices. Here are seven areas where small changes can make a big difference:

Assess Your Team and Their Workload

Being stretched too thin or at capacity can lead to burnout and stress. Consider whether it’s time to add a team member. While an additional expense, a new hire who fits your company’s culture and has the appropriate skills could greatly improve morale and retention among your current team, making it a worthy investment. You could also consider how hiring an intern or seasonal worker could lighten the load during a busy season.

Improve Work Performance

Take a closer look at your company’s culture and processes. Are there inefficiencies or duplications causing unnecessary stress? Open up a dialogue with your employees to understand their challenges and work together on solutions. Clear communication, regular training, and well-defined job expectations can help employees feel more confident and less overwhelmed.

Support Career Growth

While not all employees may want to climb the corporate ladder, everyone appreciates room to grow and learn. Offer new challenges or responsibilities to keep employees engaged and motivated. This could include cross-training, taking on new projects, or increasing autonomy in their roles.

4. Build a Sense of Community

Today’s workforce values companies that align with their values. Consider organizing community service events or supporting local charities. These activities can foster a sense of belonging and provide a positive counterbalance to work-related stress. You can also consider group activities to create fun and alleviate tension by offering regular coffee chat breaks or hosting games like trivia on Fridays.

5. Promote Physical Health

Encourage healthy habits by partnering with local gyms for discounts or organizing “walk breaks” during the workday. Small changes like healthier vending machine options or wellness challenges can promote better physical health and reduce stress. Try creating some camaraderie through in-office challenges for those who wear fitness trackers.

Reduce Financial Stress

While pay raises might not always be possible, you can offer resources to help employees manage their finances. Partnering with certified financial advisors or educational institutions to provide workshops on financial planning can help employees get into a better mindset around money. Transparency about the company’s financial health can also help them feel more secure and engaged.

Address Workplace Conflict

Allowing conflict to fester will create a tense environment. When issues arise, take all of them seriously and pay them due diligence, work with employees to resolve them quickly, be transparent, and document your actions. Ensure that employees know the process to report concerns, and maintain an open mind and an open door when employees express frustrations.

What’s the Most Effective Way to Reduce Job Stress?

Flexibility and remote work continue to rank as one of the most important benefits a workplace can offer. One study showed that more than half of the employees surveyed stated that flexibility was more important than their salary.

One of the best ways an employer can reduce job stress is to offer more flexibility, whether through remote work options or flexible hours. Flexibility allows employees more work-life balance, leading to increased satisfaction and productivity.

It’s important to note that workplace stress is not a one-and-done event but rather a slow and steady progression. Stay alert to the signs of tension and pressure among your staff and address them early to create a healthier, more productive workplace. A little attention today can prevent costly problems tomorrow.

An HR consultant from INFINITI HR can help you get a pulse check on your current work environment with an employee engagement survey. They’ll also offer best practices and tailored tips to help you address any problems identified.

Interested in other current employment trends? Click the link to view the recent blog: Measuring Impact: Success of Workplace Collaboration check back for more on human resources, payroll, insurance, and benefits.

This article does not constitute legal advice, and there are subtle variations in employment law as it pertains to these topics, depending on where your business operates. It is strongly suggested that you seek consultation or legal counsel before making decisions about policies.

Measuring Impact: Success of Workplace Collaboration

November 18, 2024/in Blog, HP Featured/by Sarah Frye

DEFINING WORKPLACE COLLABORATION

Workplace collaboration refers to the act of individuals and teams working together toward a common goal or project within an organization. It involves the sharing of ideas, knowledge, and resources to achieve optimal outcomes. Collaboration can take place through various channels, such as in-person meetings, virtual platforms, or collaborative software tools. It promotes teamwork, innovation, and efficiency, leading to enhanced productivity and overall success.

Effective workplace collaboration fosters a culture of open communication, trust, and mutual respect among employees. It encourages the exchange of diverse perspectives, which can result in creative problem-solving and improved decision-making. Collaboration also promotes a sense of ownership and accountability, as individuals work together to achieve shared objectives.

In today’s dynamic and interconnected business landscape, workplace collaboration has become increasingly important. With the rise of remote work and dispersed teams, organizations must find effective ways to facilitate collaboration to ensure successful outcomes and maintain a competitive edge.

KEY METRICS FOR SUCCESS

Measuring the success of workplace collaboration requires the identification and tracking of key metrics. These metrics provide insights into the effectiveness and impact of collaboration efforts. Here are some key metrics to consider:

Team Performance: Assessing the performance of teams involved in collaborative projects can provide valuable information about the overall success of collaboration. This can be measured through metrics such as project completion rate, meeting deadlines, and achieving project milestones.
Knowledge Sharing: The extent to which knowledge and information are shared among team members is a crucial metric for measuring collaboration. This can be evaluated by tracking the frequency and quality of knowledge exchanges, the use of collaborative tools and platforms, and the level of participation in collaborative activities.
Communication Effectiveness: Effective communication is essential for successful collaboration. Monitoring metrics related to communication, such as response time to messages, clarity of communication, and active participation in discussions, can indicate the effectiveness of collaboration efforts.
Employee Satisfaction: The satisfaction level of employees involved in collaborative projects can serve as a metric for measuring success. Conducting surveys or collecting feedback from team members can help gauge their satisfaction levels and identify areas for improvement.

By tracking these key metrics, organizations can assess the success of workplace collaboration and identify areas for improvement to enhance collaboration efforts and achieve better outcomes.

TOOLS AND TECHNOLOGIES FOR MEASUREMENT

In order to measure the impact and success of workplace collaboration, organizations can leverage various tools and technologies. These tools provide valuable insights and data that can inform decision-making and enable continuous improvement. Here are some commonly used tools and technologies for measuring workplace collaboration:

Project Management Software: Project management software allows teams to collaborate effectively by providing a centralized platform for task management, communication, and document sharing. It enables tracking of project progress, deadlines, and milestones, providing visibility into team performance.
Collaboration Platforms: Collaborative platforms, such as Microsoft Teams, Latch, Slack, or Google Workspace, facilitate communication, knowledge sharing, and document collaboration. These platforms offer features like real-time messaging, video conferencing, file sharing, and project management capabilities.
Surveys and Feedback Tools: Surveys and feedback tools can be used to collect feedback from team members regarding their collaboration experiences. These tools help measure employee satisfaction, identify areas for improvement, and gather insights into the effectiveness of collaboration efforts.
Data Analytics Tools: Data analytics tools can provide valuable insights into collaboration patterns, trends, and outcomes. By analyzing data related to communication, task completion, and project performance, organizations can identify areas of improvement and make data-driven decisions.

By leveraging these tools and technologies, organizations can effectively measure and evaluate the success of workplace collaboration, identify areas for improvement, and enhance collaboration efforts to achieve better outcomes.

IMPACT ON EMPLOYEE ENGAGEMENT

Workplace collaboration has a significant impact on employee engagement. When employees collaborate effectively, they feel more connected to their work and the organization. Here are some ways in which workplace collaboration can positively impact employee engagement:

Sense of Belonging: Collaboration fosters a sense of belonging and community among employees. It creates opportunities for individuals to connect with colleagues, form relationships, and build a supportive work environment.
Skill Development: Collaboration provides employees with opportunities to learn from others, exchange knowledge, and develop new skills. This promotes professional growth and enhances job satisfaction, leading to higher levels of engagement.
Increased Motivation: Collaborative work environments encourage employees to actively participate and contribute their unique skills and perspectives. This sense of involvement and contribution increases employee motivation and commitment to their work.
Recognition and Reward: Collaboration often involves recognizing and rewarding team efforts and achievements. This recognition enhances employee morale, satisfaction, and engagement.

By promoting effective workplace collaboration, organizations can boost employee engagement, leading to higher productivity, improved job satisfaction, and reduced turnover rates.

INTRODUCING CLARITY WAVE

Clarity Wave offers a comprehensive solution to help organizations build a unique company culture and enhance employee engagement and motivation. Their automated all-in-one engagement and motivation system is designed to create a collaborative environment that benefits not only the organization as a whole but also each individual within it.

With Clarity Wave, organizations can cultivate a culture of openness, trust, and mutual respect, where employees feel valued, motivated, and connected to their work and colleagues. This, in turn, leads to higher job satisfaction, improved performance, and reduced turnover rates, ultimately contributing to the overall success of the organization.

INTRODUCING KETTLE

Kettle’s innovative hybrid workspace management system software empowers teams to enhance collaboration and decision-making, simplifying meetups for seamless coordination.

Kettle seamlessly integrates booking, communication, self-organization, and visibility into a unified platform. When teams come together face-to-face, they prioritize both the individuals they are meeting with and the objectives they aim to achieve during their time together. Gathering isn’t solely about work; it’s also about fostering collaboration and nurturing connections. With Kettle, teams can effortlessly self-organize, while leaders can implement a customized hybrid strategy tailored to suit the organization’s needs.

INTRODUCING ASSEMBLY

Assembly is a revolutionary all-in-one platform that seamlessly integrates engagement, performance management, productivity, and collaboration tools. With Assembly, you can foster structured high-quality communication, peer-to-peer recognition and enable a flow of information within a company.

Assembly workflows empower HR to cultivate a culture of acknowledgment, conduct valuable surveys, and promote collaboration among their teams. With Assembly, you have the flexibility to effortlessly automate and customize your own workflow or select from a wide range of more than 100 templates to suit your needs.

Work smarter, not harder with Assembly.

Interested in other current employment trends? Click the link to view the recent blog: Effective Leadership: 10 Obstacles to Remove so Employees Succeed or check back for more on human resources, payroll, insurance, and benefits.

Effective Leadership: 10 Obstacles to Remove so Employees Succeed

November 12, 2024/in Blog, HP Featured/by Sarah Frye

Your employees can make or break your business. For your small to medium sized business to thrive, you need to find ways to bring out the best in them. Removing barriers to success can also help build a strong and effective workforce. Empowering employees also enables them to achieve their individual goals and work aspirations.

Leaders play a crucial role in removing obstacles for employees to succeed. Here are some common barriers you can help address as a small business leader.

1. LACK OF CLEAR GOALS

Without clear goals and objectives to work toward, employees won’t know what you expect of them, which can also lead to decreased engagement and motivation. This can lead to lost productivity.

What to do:

As a leader, provide clear and specific goals to your employees. Moreover, ensure everyone understands what needs to be achieved, how their role will contribute to the project’s success, and how success will be measured. Lastly, make sure you are accessible and approachable when employees need you.

2. INSUFFICIENT RESOURCES

Inadequate resources can be a significant pain point for employees. Lack of the necessary resources to enable employees to do their job can lead to poor quality of execution, delays, and increased workload. Moreover, the result may be workplace frustration and decreased employee morale.

What to do:

To enable employees to perform their roles effectively, ensure they are properly equipped. Ensure employees have access to the necessary resources and support to do their job and grow and advance. This also includes the right tools, technology, information, training, and a willingness to remove obstacles to their success actively.

3. INADEQUATE COMMUNICATION

One more essential component of effective leadership is communication. Communication is vital in the workplace. Poor, ineffective communication can create a communication gap, leading to confusion and misunderstandings. Also, a lack of open communication makes it harder for employees to work closely and meet expectations.

What to do:

Facilitate open and effective communication channels to remove this barrier to engagement and success. Furthermore, schedule regularly occurring check-ins to identify and tackle obstacles to communication. Use these check-ins to promote transparency, encourage feedback, and foster a collaborative environment. Ensure that information flows freely between team members and departments. Lastly, continually ask employees what can be done differently and better to improve communication.

4. MICROMANAGEMENT

Micromanaging creates the impression that you do not trust your team enough to work correctly. Excessive supervision can stifle creativity and discourage teamwork. When you seek to control everything employees do, they may develop self-doubt and lose confidence, leading to poor work performance.

What to do:

Instead of micromanaging employees, focus on empowering them to take ownership of their work. Once you have hired the right people, trust their abilities, delegate authority, and help them practice accountability. This will allow them to thrive and make meaningful contributions while enabling you to focus your energy on the big picture.

5. LACK OF RECOGNITION AND FEEDBACK

Employees who are recognized are 56 percent less likely to look for a new job. Not feeling valued is one of the most significant barriers to success. When employees feel their contributions are not recognized, their motivation, engagement, performance, and productivity may suffer.

What to do:

To fix this issue, recognize and appreciate your employees’ efforts and achievements. In addition, provide effective, regular feedback and constructive criticism to help employees understand expectations, improve their performance, and feel valued.

6. LIMITED GROWTH OPPORTUNITIES

Productive employees have career aspirations. Limited growth opportunities can lead to employees’ boredom, frustration, and work disengagement. As a result, they may search elsewhere for new challenges and progression opportunities.

What to do:

As a leader, take a personal interest in employee career goals. That way, you can ensure your team has room for professional and personal growth. You can support your employees’ professional development by providing training programs, mentorship opportunities, and avenues for career advancement. Finally, encourage a learning culture and offer challenging projects to foster growth and engagement.

7. INEFFECTIVE TEAM DYNAMICS

Negative workplace culture and environment will adversely impact your employees and your business. Poor team dynamics can breed distrust, create unhealthy competition, and generate employee frustration. This will also affect how team members interact and work together.

What to do:

To combat these issues and ensure team success for effective leadership, work on actively promoting a positive and inclusive work environment. Create an environment where team members feel comfortable expressing their ideas, collaborating, and supporting one another. Lastly, address conflicts, encourage teamwork, and foster a sense of belonging.

8. RESISTANCE TO CHANGE

Employees can be resistant to change. When this happens, it may lead to delayed execution of change, conflicts, and additional financial costs. Resistance to change can also hamper efficiency and productivity.

What to do:

A vigilant effort from leaders can help employees to embrace change. Often, resistance to change occurs due to a lack of awareness. Providing a clear rationale, communicating the benefits, and involving employees in the decision-making process can help fix the issue. You can also consider offering support and resources during transitions to minimize disruption.

9. WORK-LIFE BALANCE

Most companies want to achieve their goals within a short period. Frequently, they give employees more tasks and have them work long hours. However, when employees feel pressured, drained, or overwhelmed at the workplace, they are likely unproductive.

What to do:

To improve productivity, promote work-life balance by encouraging flexible work schedules, supporting personal obligations, and setting an example through your behavior. Also, helping employees maintain a healthy work-life balance is a great way to prioritize their well-being, which can enhance productivity and job satisfaction.

10. LACK OF AUTONOMY

Autonomy at work is essential. Low or lack of job autonomy can lead to a culture of mistrust, cause feelings of helplessness, and contribute to employee burnout.

What to do:

Giving your employees room to do their job how they see fit is important. Empower employees by allowing them to make decisions and take ownership of their work. Providing autonomy fosters creativity, innovation, and a sense of ownership. In the end, this can lead to better results.

By actively addressing these obstacles, you can create an environment that enables employees to succeed, thrive and reach their full potential.

Interested in other current employment trends? Click the link to view the recent blog: Efficient Expense Tracking: Choosing the Right Expense Management Program or check back for more on human resources, payroll, insurance, and benefits.

INFINITI HR Recognized by Forbes Advisor as a Leading PEO for Small and Medium-Sized Businesses

November 12, 2024/in Press Releases, HP Featured/by Sarah Frye

Burtonsville, Maryland – November 11, 2024 – INFINITI HR, a prominent national provider of human resources outsourcing and Employer of Record (EOR) services, is proud to announce that it has been awarded a 4.2-star rating by Forbes Advisor in their recent review of the top Professional Employer Organizations (PEOs). This recognition highlights INFINITI HR’s commitment to empowering small and mid-sized businesses with comprehensive HR solutions that drive efficiency and support business growth.

The Forbes Advisor review emphasizes INFINITI HR’s robust suite of services, including payroll processing, employee benefits administration, talent management, risk management and compliance, all designed to streamline HR functions for businesses. INFINITI HR stands out for its customizability, allowing clients to tailor services based on their unique needs—an invaluable asset for scaling businesses seeking tailored HR support. Forbes Advisor also commends INFINITI HR’s high level of support and advanced technology platform, which enables clients to focus on their core operations while managing their workforce effectively.

“We are honored to receive this exceptional rating and recognition from Forbes Advisor,” said Scott Smrkovski, CEO of INFINITI HR. “This recognition underscores our commitment to providing flexible, high-impact HR solutions that enable businesses to thrive. Our clients know they can rely on us as a trusted partner dedicated to helping them achieve their growth goals while ensuring compliance and that their business stays protected at every stage.”

Founded in 2008, INFINITI HR has grown into a nationwide leader in HR outsourcing, with a strong focus on delivering value-driven, scalable HR solutions. This latest accolade reaffirms the company’s position as a preferred full service PEO partner across diverse industries and business sizes. Industries INFINITI HR serves include but are not limited to – franchise solutions, healthcare, hotel management, retail – medical spas, medical offices, and hair salons – construction, manufacturing, financial services, telecommunication, energy, food and quick serve restaurants.

To view the list, click here.

About INFINITI HR

INFINITI HR is an award winning Certified Professional Employer Organization (PEO.) Ranked ‘Best PEO for Franchises,’ INFINITI HR is the customizable PEO by entrepreneurs for entrepreneurs. Businesses of all sizes allocate their employer responsibilities to INFINITI HR for one holistic service designed to reduce total labor cost, mitigate employer liability, and leverage the economies of scale of a large enterprise. The INFINITI HR PEO service may include custom state-specific HR Management, Recruitment, True-Group Master Policies for Workers’ Compensation Insurance, EPLI, Joint-Employer Liability Insurance, Cyber Liability Insurance and access to True-Group Fortune 500® Level Benefits. INFINITI HR is proud to be the preferred supplier to many of the most innovative franchise brands throughout the world.

For the latest press releases and up-to-date news on human resources outsourcing, visit our website. To learn more about how your organization can benefit from our services, call INFINITI HR at 866-552-7360 or email info@infinitihr.com.

Mastering Expense Management

October 29, 2024/in Blog, HP Featured/by ACS Creative

Welcome to mastering expense management with INFINITI HR! In this blog, you’ll learn how to effectively manage your expenses and optimize your financial strategy to enhance your organization’s overall efficiency and profitability.

Understanding Expense Management

Expense management is the process of tracking, analyzing, and controlling expenses within an organization. It involves understanding where money is being spent and finding ways to optimize spending.

By understanding expense management, businesses can identify areas of overspending or inefficiency and make informed decisions to reduce costs.

One key aspect of understanding expense management is knowing the different types of expenses that a business incurs. These can include fixed expenses (such as rent and salaries) and variable expenses (such as utilities and office supplies). By categorizing expenses, businesses can better track and manage their spending.

Additionally, understanding expense management involves analyzing financial data to identify trends and patterns. This can help businesses identify areas where costs can be reduced or where investments can be made to improve efficiency.

Overall, understanding expense management is crucial for businesses to maintain financial health and make informed decisions to optimize their financial strategy.

Key Strategies for Expense Tracking

Expense tracking is an essential part of effective expense management. By accurately tracking expenses, businesses can gain visibility into their spending habits and identify opportunities for cost savings.

One key strategy for expense tracking is to implement a centralized system or software that allows for easy recording and categorization of expenses. This can help businesses streamline the tracking process and ensure accuracy in expense reporting.

Another strategy is to establish clear expense policies and guidelines for employees. This can help reduce the likelihood of unauthorized or unnecessary expenses and ensure that employees are aware of the proper procedures for expense reporting.

Regularly reviewing and analyzing expense reports is also an important strategy for expense tracking. By regularly monitoring expenses, businesses can identify any discrepancies or unusual spending patterns that may require further investigation.

Ultimately, implementing effective strategies for expense tracking can help businesses gain better control over their spending and optimize their financial management.

Implementing Cost-Cutting Techniques

Implementing cost-cutting techniques is an important aspect of expense management. By reducing unnecessary expenses, businesses can improve their profitability and financial stability.

One technique for cost-cutting is to negotiate with suppliers or vendors for better pricing or discounts. By exploring different options and negotiating contracts, businesses can potentially reduce their expenses for goods and services.

Another technique is to identify and eliminate any wasteful or excessive spending. This can involve conducting a thorough review of expenses and identifying areas where costs can be reduced without negatively impacting the business.

Additionally, businesses can consider implementing energy-saving practices or technology solutions to reduce utility costs. This can include using energy-efficient appliances, implementing smart lighting systems, or utilizing renewable energy sources.

Overall, implementing cost-cutting techniques requires a proactive approach and a willingness to identify and eliminate unnecessary expenses. By doing so, businesses can improve their financial position and create a more sustainable expense management plan.

Utilizing Technology for Expense Management

Technology plays a crucial role in modern expense management. By utilizing technology solutions, businesses can streamline their expense tracking processes and improve efficiency.

One way to utilize technology for expense management is to implement expense management software. These tools can automate expense tracking, streamline approval processes, and provide real-time visibility into spending.

Mobile apps can also be utilized for expense management. With mobile apps, employees can easily capture receipts, submit expense reports, and track their expenses on the go. This can help improve accuracy and timeliness in expense reporting.

Cloud-based solutions can also be beneficial for expense management. By storing expense data in the cloud, businesses can access and analyze financial information from anywhere, making it easier to track expenses and make informed decisions.

Ultimately, by utilizing technology for expense management, businesses can simplify processes, reduce manual errors, and gain better control over their spending.

Creating a Sustainable Expense Management Plan

Creating a sustainable expense management plan involves developing strategies and practices that ensure long-term financial stability and efficiency.

One key aspect of a sustainable expense management plan is to regularly review and update expense policies and guidelines. By keeping policies up to date, businesses can adapt to changing circumstances and ensure that employees are aware of the latest procedures.

Another aspect is to promote a culture of cost-consciousness within the organization. By encouraging employees to be mindful of their spending and providing training on expense management best practices, businesses can create a more sustainable expense management culture.

Regularly monitoring and analyzing expense data is also essential for a sustainable expense management plan. By reviewing reports and identifying trends, businesses can proactively address any issues or inefficiencies and make informed decisions to optimize spending.

Lastly, businesses should continuously seek opportunities for cost savings and process improvements. This can involve exploring new technologies, negotiating contracts, or identifying areas where automation or outsourcing can be beneficial.

In conclusion, creating a sustainable expense management plan requires a holistic approach that encompasses policies, culture, data analysis, and continuous improvement. By implementing such a plan, businesses can optimize their financial strategy and achieve long-term financial success.

As you may know, INFINITI HR introduced its own HR marketplace this year that showcases hundreds of HR products and services. There are two providers in particular that we would like to highlight that may be of use to you as you look to master your expenses. They are as follows:

Introducing Juice

Juice offers a range of perks and rewards that can enhance your employee value proposition, boost retention, and attract top talent. One of their many services is their fully digital expense management solution, in which you can improve your total rewards package without exceeding your budget. Enjoy benefits such as gas or commuter rewards, childcare benefits, wellness incentives, vacation stipends, pet care perks, and more. Plus, with zero administrative or SaaS costs, quick and easy setup, you can take control of your spending habits effortlessly.

Introducing Ramp

Ramp provides a comprehensive finance automation software that consolidates corporate cards, expense management, bill payments, accounting, and reporting into one seamless and cost-effective solution. With Ramp’s zero-touch expenses feature, employee expenses become hassle-free. From collecting receipts to coding expenses, employees can say goodbye to chasing after receipts. Revolutionize your finance operations with Ramp and start saving time and money.

Interested in other current employment trends? Click the link to view the recent blog: The Possibilities of Commission Pay or check back for more on human resources, payroll, insurance, and benefits.

The Possibilities of Commission Pay

October 15, 2024/in Blog, HP Featured/by Inspiring HR

Commission pay is synonymous with outside sales positions, but are there other possibilities of commission pay beyond reaching sales quotas?

What is a Commission Payment?

Definition: Commission pay is any money paid to an employee for the sale of a product or a service on behalf of their employer. Commission payment can be a set percentage of sales or a flat dollar amount based on sales volume. The most common commission structures are:

Base salary + commission. These employees often receive a base salary that is lower than market rate for their positions, with the understanding that this salary will be supplemented through commission earning opportunities. Example: loan officer.
Straight commission. These employees do not have the “safety net” of a base salary. Here, all compensation comes from commissions. This structure does best with seasoned sales professionals and for positions that qualify as exempt under the Department of Labor’s Outside Sales Exemption. Example: real estate agent.
Draw against future commission. This commission structure is a hybrid of the two described above. A minimum base salary is guaranteed each pay period, but that base salary is drawn against future commissions. Example: car sales.

Commission Payments: The Fine Print

Commission pay is not attractive to everyone. It adds an element of uncertainty to an employee’s income that can be off-putting to the risk adverse or sales professionals who are new to their careers. Employers should keep attuned to their market and to those companies they compete with for staff to gauge the compensation design that will attract the most qualified and promising employees and really grow their business.

Additionally, members of your sales teams employed in positions that do not qualify for the DOL’s sales exemptions must receive the equivalent of at least minimum wage for all hours worked in each pay period and overtime for all hours greater than 40 in a work week.

There is, however, some flexibility with the timing of commission payments. Commission can be paid in conjunction with an employee’s base salary (if applicable) or at a completely separate time. For example, it is perfectly legal for an employee to receive her salary bi-weekly and her commission payments monthly.

Commission Payment: The Possibilities

Commission pay is an effective incentive to increase productivity and the rate of a company’s growth, but unless you are managing a team of outside sales professionals, it likely not a tool in your current incentive program. But should it be? Possibly.

The Retail Exemption. The Department of Labor allows commission for retail employees through its Retail Exemption, an exemption that can free qualified employers from their overtime rate obligations if their retail employees have sufficient commission earnings. With this exemption, the earnings of non-exempt employees can be driven by their sales numbers through a legally vetted method that will not increase their overtime pay rate.

For purposes of this exemption, qualified employers are:

retail and service establishments where 75% of the annual dollar volume comes from the sale of goods and/or services
the company must be in a recognized retail sales or services industry
resale establishments do not qualify

Taking the long view. Another option is a commission program designed to recognize contributions beyond monthly sales quotas, such as:

teamwork that supports company sales goals
customer satisfaction
lead generation

These programs reward employees for creating an atmosphere where future and repeat business become reliable sources of company income.

Commission vs. profit sharing. Many employers look for ways to incentivize employees to meet or exceed company sales goals, but not all have employees who meet the traditional definition of sales. For these companies, a profit sharing plan might be a good compromise. Both commission and profit sharing programs are designed to motivate employees for their efforts in reaching sales and business growth goals. This, however, is where the similarities end.

Commission plans are a significant part of a sales employee’s compensation, whereas a profit sharing plan is generally pain in addition to a full market rate salary.
Commission payments are generally paid out monthly to enforce the strong connection between reaching sales goals and increasing income, whereas profit sharing plans are generally paid out once a year.
Commission programs are designed as incentives for sales professionals, whereas profit sharing programs generally reward all employees to some degree.

As labor markets continue to tighten, employers must utilize every tool in their arsenal to recruit and retain the best and the brightest. Although commission programs are – and will continue to be -synonymous with outside sales positions, companies may need to embrace some out-of-the-box ideas to keep actual growth in line with their goals. Adding a commission or commission-like element for all employees can be an appropriate move for companies that believe every job and every employee impacts their bottom line.

Here is what the government has to say about Commission Pay regulations as well.

FAQ on Commission Pay

Q1: How can companies ensure equitable distribution of commission pay in team-based sales environments to foster collaboration rather than competition?
A1: In team-based sales environments, ensuring equitable distribution of commission pay requires a carefully structured commission plan that acknowledges individual contributions while incentivizing collective success. Employers should consider implementing a tiered commission structure that rewards team milestones in addition to individual performance metrics. This approach can mitigate the risk of fostering unhealthy competition, as it emphasizes the importance of teamwork and collective achievement. Regular team performance reviews and transparent communication of sales targets and achievements are crucial. Additionally, integrating customer satisfaction scores and feedback into the commission calculations can encourage team members to work together to not only meet sales goals but also enhance customer relationships, thereby aligning individual rewards with team success and overall company objectives.

Q2: What strategies can companies employ to minimize the potential negative impacts of commission pay on employee well-being and job satisfaction?
A2: To minimize the potential negative impacts of commission pay on employee well-being and job satisfaction, companies should adopt a holistic and supportive approach. This involves offering a base salary that ensures financial stability, coupled with a commission structure that rewards performance adequately. Providing comprehensive training and development opportunities can help employees enhance their skills and confidence in achieving sales targets. Employers should also foster an inclusive culture that values open dialogue, where employees can express concerns and suggest improvements to the commission structure. Additionally, incorporating non-financial rewards, such as recognition programs and career advancement opportunities, can further motivate employees beyond financial incentives. Regular review and adaptation of the commission program to meet the evolving needs of employees and the business are essential to maintaining a positive and productive work environment.

Q3: How can organizations balance the flexibility and motivation provided by commission pay with the stability and predictability that employees need, especially in volatile markets?
A3: Balancing the flexibility and motivation offered by commission pay with the stability and predictability desired by employees, especially in volatile markets, requires a strategic approach to compensation design. Organizations can achieve this balance by offering a solid base salary component that ensures financial security, coupled with a commission structure that allows for upside potential based on performance. Additionally, implementing a cap on commission earnings can prevent unsustainable expectations and maintain financial stability for the company. Offering a buffer, such as a draw against future commissions during slower sales periods, can also help smooth income fluctuations. Employers should ensure transparent communication regarding commission structures and potential market impacts, along with providing support systems such as stress management resources and financial planning assistance. Regularly reviewing and adjusting the commission structure in response to market changes and employee feedback can help maintain an effective balance between motivation and stability.

Q4: How does commission pay align with our organizational goals and culture?
A4: Commission pay can be a dynamic tool for driving performance that aligns closely with organizational goals, especially those related to growth and productivity. By incentivizing specific outcomes, commission structures can cultivate a high-performance culture. However, alignment depends on thoughtful implementation that considers the unique aspects of your company culture and objectives.

Q5: What commission structure is most effective for different roles?
A5: The effectiveness of a commission structure varies by role and industry. For roles directly influencing sales, a combination of base salary plus commission might offer stability and motivation. Straight commission suits seasoned professionals in high-earning potential roles. For roles with fluctuating sales, a draw against future commission could provide a safety net. Tailoring the structure to the role is key.

Q6: How might commission-based pay impact employee satisfaction?
A6: Commission pay introduces variability that might not appeal to everyone. Transparency, clear communication, and support systems can mitigate concerns. Offering training and gradual transition periods for those new to commission-based roles can also enhance satisfaction and confidence.

Q7: How does our commission pay structure compare with the market?
A7: Competitive analysis is crucial. Your commission structures should be attractive compared to market standards, considering both direct competitors and broader industry benchmarks. Adjustments might be necessary to ensure you’re offering compelling compensation packages that attract and retain the talent you need.

Q8: What are the legal considerations for commission pay?
A8: Compliance with minimum wage, overtime regulations, and the Department of Labor’s guidelines is non-negotiable. Structures must accommodate these legal requirements, including adherence to the Retail Exemption for qualified positions. Regular audits and legal consultations can help maintain compliance.

Q9: How can we design commission programs beyond sales quotas?
A9: Broadening commission criteria to include teamwork, customer satisfaction, and lead generation recognizes and rewards the diverse contributions employees make towards company success. Such programs can foster a more collaborative and customer-focused culture, driving sustainable growth.

Q10: Should we consider profit sharing as an alternative to commission pay?
A10: Profit sharing can complement commission pay, especially in roles indirectly related to sales. It distributes rewards more broadly, aligning all employees towards the company’s success. Deciding between or combining these approaches depends on your strategic goals and the behaviors you wish to incentivize.

Q11: What are the long-term impacts of commission pay on our company?
A11: Long-term, commission pay can significantly influence company growth, employee engagement, and retention. Monitoring performance, adjusting strategies based on feedback, and ensuring the program evolves with your business are essential steps to maximizing its benefits.

Q12: How does commission pay fit into the overall compensation and benefits package?
A12: Commission pay should be one component of a holistic compensation strategy that includes base pay, benefits, and other incentives. Its design should reflect the overall value proposition you offer to employees, ensuring it supports not just recruitment but also long-term retention and satisfaction.

Q13: Are there innovative commission structures or incentives to explore?
A13: Absolutely. Exploring out-of-the-box ideas like gamification of sales goals, tiered commission rates, or bonuses for team achievements can inject creativity and renewed motivation. Tailoring these structures to fit your workforce and business model can set you apart as an employer of choice.

Click the link to view the recent blog: Why Small Businesses Need a Competency-Based Hiring Strategy or check back for more on human resources, payroll, insurance and benefits.

This article does not constitute legal advice and there are subtle variations in employment law as it pertains to this topic, depending on where your business operates. It is strongly suggested you seek consultation or legal counsel before making decisions about policies.

INFINITI HR CEO Scott Smrkovski Selected to Present at Howard County Chamber’s Inaugural Emerging Technologies Conference

October 11, 2024/in HP Featured, Press Releases/by ACS Creative

LAUREL, MARYLAND – INFINITI HR, a leading provider of human resources outsourcing solutions, is proud to announce its participation in the Howard County Chamber’s first-ever Emerging Technologies Conference. This groundbreaking event will be held on October 18, 2024, at the prestigious Johns Hopkins Applied Physics Lab in Laurel, Maryland. INFINITI HR CEO, Scott Smrkovski, will be featured on the “Leading Innovations from Howard County & Beyond” panel, representing one of the region’s largest private companies revolutionizing the HR technology landscape.

Scott will discuss INFINITI HR’s exclusive partnership with Mulberri, a tech firm who is changing the way businesses get insurance, and how together they are leveraging AI and tech solutions like exclusive cyber insurance, instant certificate generation, and digital claims filing to transform risk management. Smrkovski will spotlight the company’s ongoing efforts to integrate emerging technologies such as AI into human resources management, making it easier for businesses to transform traditional processes in insurance and HR, leading to enhanced efficiency and streamlined operations. Smrkovski will be in good company on the panel, alongside key industry innovators including Anuja Sonalker of STEER Tech, an autonomous vehicle company, Travis Griffin of Secom, a leading security technology company, and David McDonald of the Baltimore Ravens.

The Emerging Technologies Conference will offer deep insights into emerging technologies reshaping various industries, from artificial intelligence and cybersecurity to technology governance and workforce innovation. Natalie Evans Harris, Chief Data Officer of Maryland, will kick off the event with a keynote address focused on the state’s tech-forward strategy, followed by panels that include Darryl Peek of Elastic, Wayne Stewart of 401 Digital, and Melissa Daley of Orca Intelligence, among others.

“We are excited to collaborate with some of the brightest minds in tech and HR,” said Scott Smrkovski, CEO of INFINITI HR. “This is an incredible opportunity to discuss how technological advancements are transforming not only our industry but the entire business ecosystem.”

The conference will gather 150+ professionals from various sectors, all eager to explore cutting-edge solutions and strategies to stay ahead in an increasingly digital world. For more information or to register for the event, please visit the Howard County Chamber’s official website.

About INFINITI HR

INFINITI HR Ranks in the Washington Business Journal’s Private Companies List in Greater D.C. for the 10th Year in a Row

October 9, 2024/in Press Releases, HP Featured/by ACS Creative

WASHINGTON, D.C. – Each year, the Washington Business Journal ranks hundreds of the top companies in the region. INFINITI HR, a rapidly growing, customer-focused PEO, has secured a spot on the list of the largest private companies for the 10th consecutive year. This year, INFINITI HR moved up to rank number 34 on the list.

INFINITI HR, named a top PEO by Forbes, continues its strong growth trajectory, having doubled the number of employees and revenue in the past decade. Headquartered in Columbia, Maryland, this human resources outsourcing, payroll, and benefits service provider achieved nearly $600 million in revenue last year. INFINITI HR is an IRS-certified PEO, a ten-time member of the Inc. 5000, and a 2022 Top Workplace in Washington D.C., according to The Washington Post. The company services some of the most recognized franchise brands across the globe and supports employees and clients in all 50 states.

“This marks a decade of ranking on the Washington Business Journal Largest Private Companies list,” INFINITI HR CEO Scott Smrkovski said. “We are honored to be among some of the region’s most esteemed organizations and big brands, such as MARS Inc., Bechtel Corp, and Peraton.

“Our success is a testament to the dedication of our team, whose hard work and commitment to service allow us to deliver unparalleled value to our clients,” Smrkovski said.

This year, INFINITI HR remains part of the professional services sector represented on the list, which ranks companies by their total 2023 revenue. The full list includes companies across various industries, including retail, technology, government contracting, construction, and real estate.

To view the list, click here*.

About INFINITI HR
INFINITI HR is an award winning Certified Professional Employer Organization (PEO.) Ranked ‘Best PEO for Franchises,’ INFINITI HR is the customizable PEO by entrepreneurs for entrepreneurs. Businesses of all sizes allocate their employer responsibilities to INFINITI HR for one holistic service designed to reduce total labor cost, mitigate employer liability, and leverage the economies of scale of a large enterprise. The INFINITI HR PEO service may include custom state-specific HR Management, Recruitment, True-Group Master Policies for Workers’ Compensation Insurance, EPLI, Joint-Employer Liability Insurance, Cyber Liability Insurance and access to True-Group Fortune 500® Level Benefits. INFINITI HR is proud to be the preferred supplier to many of the most innovative franchise brands throughout the world.

*denotes a paywall

Labor Laws for September 2024

September 27, 2024/in Blog, HP Featured/by ACS Creative

INFINITI HR is happy to provide Monthly State Labor Law Updates as a service to our subscribers.

These briefs provide a general description and are not meant to be all-inclusive of compliance requirements. This list is not inclusive of all legislative changes for employers across the U.S. Changes may have been addressed in previous updates, which can be accessed from our blog.

Employers are encouraged to work with their Inspiring HR Consultant before making policy changes to capture the full requirements of these laws.

VIRGINIA

Labor Law Updates – Effective 2024

Mandatory Employment Posters – Effective May 10, 2024

Virginia has updated their mandatory employment law posters:

Job Safety & Health Protection – new Department of Labor and Industry HQ address and penalties totals.
Virginia Human Rights Act – updated to include ethnicity.
Virginia has an update to an optional employment poster: Resources for Virginia Veterans – new resources and information for veterans.
Employers are required to display mandatory state and federal posters in a conspicuous place visible to all employees.

Protected Class Updates – Effective July 1, 2024

Effective 7/1/2024, Virginia’s House Bill 18 added ethnic origin to the list of protected classes under the Human Rights Act. The full list of protected classes, both federal and Virginia, are: race, color, religion, sex, sexual orientation, gender identity, marital status, pregnancy, childbirth or related medical conditions, age, military status, disability, ethnic or national origin.

Employers should update existing Equal Employment Opportunity policies to include ethnic origin. Employers should also notify and train their management team to ensure they do not discriminate, retaliate, or otherwise deny opportunities to employees based on any protected class.

Interested in other current employment trends? Click the link to view the recent blog: How to Prevent and Mitigate “Fires” at Work or check back for more on human resources, payroll, insurance, and benefits.

This article does not constitute legal advice, and there are subtle variations in employment law as it pertains to these topics, depending on where your business operates. It is strongly suggested that you seek consultation or legal counsel before making decisions about policies.

How To Prevent and Mitigate “Fires” at Work

September 18, 2024/in Press Releases, HP Featured/by Inspiring HR

Business leaders know that workplace conflict prevention within their organization is a top skill they must learn and maintain. Fortunately, the best business leaders understand that this is a major part of their job, and they strive hard to ensure that would-be “fires” within the organization aren’t allowed to continue to burn. The entire organization can look up to its leaders to see which steps they should take to improve the circumstances they find themselves in and stay on course with the company’s mission.

Common Types of “Fires” Within Companies

Any time a group of individuals is brought together to work on a common goal, there is always the possibility of tension developing. Let’s take a look at some of the pressure points that are common in various workplaces.

Co-Worker Friction

When individuals with different perspectives, personalities, and work styles are brought together, they are challenged to learn to complement each other and get along. That doesn’t always go as planned. Friction between co-workers can mean that employees get so distracted by their in-fighting that they cannot do the assigned work. Consider taking the following steps:

Nurture the Culture – Creating a culture that enables the right behaviors is critical before a company can address individual players. The trickle-down of leaders that listen, collaborate, work toward mutual goals, and respect others sets the model for your employees to emulate.
Work on Communication – Understand the meaning behind the words people say to one another. Understanding what they are saying to one another behind the literal words they use can help get to the root of the problem.
Set up a Meeting Between Conflicting Co-Workers – Facilitating a meeting between co-workers who have friction can allow those tensions to be aired productively. Getting all sides to come together and work out their differences in the meeting itself is possible.
Gain Buy-in and Commitment – Engaging employees in exploring what they believe they can do themselves to resolve conflicts places the responsibility back on them to control what they can control. Their active participation in the solution will also create better buy-in and a commitment to resolve differences.
Find Common Ground – People often have more common ground between them than they may at first realize. Finding that common ground and elevating it is a great way to encourage cooperation between co-workers who might not otherwise see eye to eye.

A Lack of Emergency Preparedness

There are a multitude of disasters and emergencies that could strike a business at any time. Not having a solid plan ready to address those potential emergencies is unacceptable. Just think about the estimated 700,000 small businesses closed in the second quarter of 2020 alone due to the COVID-19 pandemic. They had not prepared themselves for the emergency that COVID-19 ultimately became for them. Their lack of emergency preparedness harmed them significantly. On top of that, 64% of businesses experience web-based cyber attacks. Again, this is an emergency that companies can and should prepare for.

Issues with Clients

One of the most challenging types of fires is potential issues with clients. A company suffering from client issues needs to work on resolving them as rapidly as possible. Otherwise, they risk losing business and turning off clients who could have otherwise provided them with additional income streams in the future.

Getting to the bottom of the client’s issue means researching why they are upset in the first place. It is easy to assume that clients are frustrated and taking it out on you, but that is probably untrue. There are legitimate reasons why they are complaining, and you should research why that is the case. Remember that you are forming a relationship with them, and listening to their complaints is part of the process.

Once you have determined why they are complaining, develop an action plan for how to resolve their issue. Then, communicate that plan back to the client. They need to know that you are working on it, and they will appreciate you taking the time to explain your steps to resolve their concerns.

HR Policies That Every Company Should Have in Place For Workplace Conflict Prevention

It is essential to have a core foundation of HR policies that every company should have to make it easier to put out fires and create the kind of workplace we all strive for. A few of those policies include:

Non-Discrimination and Anti-Harassment Policies

The workplace must be safe for all employees to work in. Not only that, but it is necessary for your company to remain in compliance with local, state, and federal laws related to discrimination. Besides that, it is also morally right to ensure that no one feels discriminated against when they work for you. Constructing this kind of policy will allow you to point to it if an incident crops up. Consider adding an employee hotline that they can contact anonymously to report any harassment issues. You need a clear policy for
employees and management to refer to when addressing any potential violations of one’s rights or psychological safety at work.

Social Media Policy

Billions of people log on to their social media accounts daily and post virtually anything they want. However, when those individuals work for your company, the risks to your reputation you face when posting anything they want to are enormous. Your social media
policy should address when employees are prohibited from being on their personal social media accounts (typically when they are on the clock), and it should also detail what employees are and are not allowed to post about when they log on to their accounts. Although you cannot infringe on an employee’s First Amendment right to free speech, you can have a policy regarding topics that employees will be terminated for if they post about, such as:

Confidential company information
Unlawful harassment or bullying of co-workers
Threats of violence or similar inappropriate or unlawful conduct
Any criminal material
Infringement of company copyrights or intellectual property protections

These are the types of things that keep business managers up at night. Make sure you have policies in place before a social media incident occurs to aide you in your workplace conflict prevention efforts.

Confidentiality Policy

It is virtually guaranteed that your employees will have access to confidential information within the company that the outside public does not. Keeping that information within the company must be a top priority. Employees should be made to sign a confidentiality policy that prohibits them from speaking about private information deemed confidential to the company. This protects the company legally from someone who might speak out of turn and release information they should never have released. This policy will keep your confidential information under wraps where it belongs.

Documents That HR Should Keep Handy

There are certain documents that every business should have in place to mitigate or address workplace conflict. Such documentation will set clear and written expectations for employees so they can self-manage. When things go wrong, they can provide a paper trail of actions taken by the company and why they opted to make the decisions they made. Keep these documents readily available:

Employee Handbook – An employee handbook details all relevant company policies and procedures and how accountability is spread throughout the company. It is an extremely useful guide for determining who is responsible for what and how different procedures should play out.
Exit Process – A list of procedures for when an employee leaves the company is also helpful to have around. If one of the “fires” in the company results in someone being terminated, then it is best to have exit policies ready to go.

Ensure your HR department is prepared with all these workplace conflict prevention documents and anything else that lends consistency and credibility to your business. If you take all these steps, you can keep your company moving in the right direction.

Interested in other current employment trends? Click the link to view the recent blog: Labor Laws for August 2024 or check back for more on human resources, payroll, insurance, and benefits.

This article does not constitute legal advice, and there are subtle variations in employment law as it pertains to these topics, depending on where your business operates. It is strongly suggested that you seek consultation or legal counsel before making decisions about policies.

1. LACK OF CLEAR GOALS

2. INSUFFICIENT RESOURCES

3. INADEQUATE COMMUNICATION

4. MICROMANAGEMENT

5. LACK OF RECOGNITION AND FEEDBACK

6. LIMITED GROWTH OPPORTUNITIES

7. INEFFECTIVE TEAM DYNAMICS

8. RESISTANCE TO CHANGE

9. WORK-LIFE BALANCE

10. LACK OF AUTONOMY

Welcome to mastering expense management with INFINITI HR! In this blog, you’ll learn how to effectively manage your expenses and optimize your financial strategy to enhance your organization’s overall efficiency and profitability.

Understanding Expense Management

Key Strategies for Expense Tracking

Implementing Cost-Cutting Techniques

Utilizing Technology for Expense Management

Creating a Sustainable Expense Management Plan

Introducing Juice

Introducing Ramp

Commission pay is synonymous with outside sales positions, but are there other possibilities of commission pay beyond reaching sales quotas?

What is a Commission Payment?

Commission Payments: The Fine Print

Commission Payment: The Possibilities

FAQ on Commission Pay

INFINITI HR is happy to provide Monthly State Labor Law Updates as a service to our subscribers.

Employers are encouraged to work with their Inspiring HR Consultant before making policy changes to capture the full requirements of these laws.

VIRGINIA

Labor Law Updates – Effective 2024

Mandatory Employment Posters – Effective May 10, 2024

Protected Class Updates – Effective July 1, 2024

Common Types of “Fires” Within Companies

Co-Worker Friction

A Lack of Emergency Preparedness

Issues with Clients

HR Policies That Every Company Should Have in Place For Workplace Conflict Prevention

Documents That HR Should Keep Handy

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