Archived Posts - November 2019

2020 Benefit Upgrades – The Key to Employee Retention and Attraction

  • 11/13/19 |
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2020 Benefit Upgrades  – The Key to Employee Retention and Attraction
With the start of a new decade on the horizon, is your company in need of an open review and overhaul of your benefits offerings? In the very real and ongoing shortage of good talent, benefits play a pivotal role today in retaining and attracting the right people. Be sure to review your traditional, and expected, offerings such as healthcare, 401k, and paid vacation (By the way – just 1 or 2 weeks of vacation is no longer competitive). In addition, you will also want to consider adding some outside-of-the-box benefits to decrease your chances of losing good employees or being unab …

2020 is a Leap Year – Here’s What That Means for Payroll

  • 11/12/19 |
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2020 is a Leap Year – Here’s What That Means for Payroll
As 2019 draws to a close, it’s important for employers and companies to begin preparations for the new year. And 2020 is a trickier year than most in terms of payroll because it’s a leap year, with 29 days in February instead of the usual 28. This extra day means an extra payday on the calendar, shifting payroll costs for the year ahead. When a leap year presents itself, or a regular year where the 365 days don’t divide evenly into 26 pay periods, accounting departments have two main options for how to tackle the extra day. Deciding which option you choose is crucial, …

Understanding Colorado’s New Equal Pay Act

  • 11/7/19 |
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Understanding Colorado’s New Equal Pay Act
On May 22, 2019, Governor Jared Polis signed the Equal Pay for Equal Work Act into law. This new law has taken effect, and will greatly change payment practices and questions that can be asked during the hiring process for all employers. It will essentially work to end wage discrimination based on an employee’s gender identity, so that all people earn the same wage for the same work performed within a company. This act will require every employer to maintain records of job descriptions and wage rate history for each employee while they are employed for the company, and for two yea …