Small-business payroll is one of the most challenging and time-consuming aspects of small-business ownership. Paid employees are happy employees, but sending in payroll taxes on time is also critical.

Take a look at our seven tips below to help you set up a streamlined, taxpayer-friendly system for your small business payroll.

1. Obtain Your Tax ID

Applying for an employer identification number (EIN) is the first step in establishing a compliant small-business payroll system. If you’ve already established your business as either a partnership or a corporation, you already have an EIN assigned.

2. Consider Whether Salaries or Hourly Wages Are Best

Pro tip: Salaries will be easier for you to manage when it comes to DIY payroll. You don’t have to count hours and account for overtime. But if you decide to pay employees hourly, have a reliable way to account for all their hours worked. A PEO can help you classify and pay workers correctly, so you meet legal requirements.

3. Classify Your Workers the Right Way

It’s vital to classify each employee properly, because issuing a 1099 to an independent contractor requires a different process than providing a W-2 to a full-time worker. How you classify your employees has a huge impact on the payroll taxes you owe and the process of payment.

4. Open a Separate Payroll Account

One of the best ways to make sure your employees are paid fully and on time and the government gets its due is to open a separate bank account dedicated solely to payroll. Automate your deposits into this account, then automate your payroll tax deposits to the IRS. This helps you keep your accounts organized and consistent and takes away some of the stress of managing payroll on your own.

5. Stay on Top of Payroll Taxes

Beware of forgetting to pay taxes on time — it can be costly. You could be liable for up to a 100 percent penalty if you don’t withhold and pay the correct amount of payroll taxes. Pay on time and always keep receipts of all IRS payments for your records.

6. Offer Tax-Free Benefits for Employee Bonuses

When you begin working on your own payroll system, you’ll start to see how expensive taxes can be. When your employees are up for review, consider rewarding them with tax-free benefits instead of simply upping their wages. You will indirectly put money in their pocket and preserve your own profits as well.

You could offer a childcare subsidy, a company cell phone, dental or vision insurance and more.

7. Weigh the Benefits of Outsourcing

We know small-business payroll is complicated — we handle it every day. But unlike you, we have years of training and experience on the topic. Wouldn’t you rather have an expert handle this task?

Outsourcing to a skilled provider offers countless benefits

Want to learn more? Contact WTA, Inc., today and we’ll give you a free quote on the cost of outsourcing small-business payroll to our qualified, certified team.

Hiring a PEO is the ideal solution when you’re behind on paperwork, your business is booming and you’re no longer capable of running your one-person HR department. You know it and your employees will soon know it: Hiring a PEO will improve business operations and work life for everyone involved.

Your employees will thank you for hiring a PEO. Why? Five main reasons.

1. They Will Get Paid on Time

Payroll is one of the most tedious and time-consuming tasks an employer has to manage. When you had only a handful of employees, things were much simpler. Now, it’s almost impossible to get all the paperwork in order by the close of each pay period, but you have to, or else you will have unhappy employees on your hands.

Don’t delay payroll another day. Hiring a PEO takes the weight of this responsibility off your shoulders, and your employees can confidently depend on the next payday.

2. They Enjoy Better Benefits

Many small businesses would love to provide an extensive benefits package to their talented employees, but the costs would put them under. In fact, it’s one of the biggest challenges small businesses face when it comes to attracting and maintaining top talent.

A well-rounded benefits package encourages loyalty and hard work from your staff. It’s an invaluable asset and can drastically reduce employee turnover. By hiring a PEO, you can access many benefits that would be impossible to offer on your own, and your employees will be satisfied and happy.

3. They Get Their Questions Answered

A PEO can track all your employees’ sick and personal days. All insurance benefits are understood and administered.

When your employee comes to you with a burning question about how many more vacation days they have, or who to contact for a medical claim, you don’t have to take the time to research the answer. Just refer them to your expert PEO team.

4. Their Claims and Complaints Are Managed Expertly

Filing discrimination, harassment or worker’s compensation claims can be a stressful experience for an employee. With a PEO team on retainer, employees will have their cases managed and their concerns addressed by a practiced, trained expert.

Your employees’ best interests are a priority, and your PEO will take care of all the details.

5. They Can See a Future at Your Company

Best of all, the total benefits your employees see after you hire a PEO helps them picture themselves working at your company for a long time. You’re making a financially sound decision that will keep your business afloat and help provide job security to your dedicated employees.

When hiring a PEO, look no further than WTA, Inc. We provide tailored PEO service packages to help your business thrive and reach its long-term goals. Contact us today to learn more.

Choosing a PEO to take over essential business functions like payroll, hiring and employee benefits isn’t a small task — you’re trusting an outside team with important responsibilities. They must be up to the challenge.

When you’re choosing a PEO, stick to the tried-and-true guidelines below to find the human resources partner you can rely on for years to come.

1. Assess Your Company’s Needs

Where are you falling short when it comes to your human resource services?

Take stock of what’s taking up most of your and your in-house staff’s time. Choosing a PEO doesn’t always mean relinquishing all your HR tasks. Honestly assess whether you only need payroll management or whether your company would benefit from a more comprehensive package.

2. Review The PEO’s Reputation

Ask for client references, professional organization memberships and their training and experience. You should be able to personally talk to whomever will be managing your account. After all, when you’re choosing a PEO, it’s like hiring a new employee. You need a resume before deciding.

3. Ask About Service Plan Options

Does the PEO provide individual service offerings? Are they willing to tailor their management products to fit your company’s needs? Even if you only need one service right now, do they offer a range of services that will allow your business to expand and grow with the same PEO?

4. Know the Price You Will Pay

Make sure you understand the PEO’s pricing structure. Will you be billed one flat fee per employee, or will they charge you a total payroll percentage? This will influence the total cost, which you should know up front before you sign a contract.

5. Understand What Responsibilities You Still Have

Even though a PEO will essentially become a co-employer in many cases and take over much of the liability when it comes to your employees, it’s vital to know exactly what you are still responsible for. What is guaranteed? Who is accountable for each service rendered? How can you cancel the contract if you’re not satisfied?

6. Make Sure the PEO Is State-Licensed

Check that your outsourced HR provider is fully licensed by the state. It’s important that they meet all state requirements to legally operate and provide certain employer services. Otherwise, the PEO contract may not be valid.

When you’re looking to outsource HR services in Utah or Nevada, WTA, Inc., is here for your business. Choosing a PEO is challenging if you aren’t sure what you need or why you need it. By calling and discussing your business operations with our staff, you will learn about cost-effective solutions that make sense and help you see why outsourced HR could change your business for the better.

Safety training is essential to the success of your business, regardless of industry or company size. In fact, safety training sometimes means the difference between failure and success — it keeps employees engaged and prepared and saves thousands of dollars.

If you’re looking for a way to safeguard your business and your livelihood, safety training should be at the top of your list.

Your Employees Will Feel Valued

First of all, when your employees are actively involved in ongoing safety training, they’re well-prepared to handle the demands of their responsibilities. And when they see that the leadership is taking the time and investing the money into keeping them well-prepared, they notice.

An employee who feels valued will stay loyal to the business. You will spend less time recruiting new employees. A low turnover rate automatically translates to cost savings. Also, an experienced, trained staff helps facilitate business expansion. With a supportive, solid team on your side, you and your employees can reach your next goal much faster.

You Will Avoid a Fine

The Occupational Safety and Health Administration (OSHA) recently raised their fines by 78 percent to account for inflation. The last time they raised their fines was in 1990. Fines will continue to increase to stay in line with inflation.

OSHA can fine any business that does not have a written health and safety program and does not consistently provide training based on all risks and hazards in the work environment. If you are unable to document an in-depth safety training program, OSHA can issue a hefty fine. For a small business or startup, these fines can be disastrous.
You Will Avoid a Lawsuit

If an employee is hurt on the job and can prove they didn’t have the right safety training, you might face a lawsuit. The expenses associated with a workers’ compensation lawsuit can mount quickly, dwarfing the cost of fines.

Your Premiums May Go Down

On the other hand, investing in a training program can make for financial advantages. Many insurance companies offer discounts to companies with little to no workers’ compensation claims on record, and an effective training program in place.

Safety Training Isn’t a One-Time Event

It’s important to note that one company-wide training session won’t do. Employees need ongoing education on how to prevent injury, increase productivity and work effectively.

Designing a complete education program that reflects the needs of your employees and identifying risks in your company’s workplace is a time-consuming effort. Let WTA, Inc., help.

We provide comprehensive risk-management services that include constructing a well-rounded safety training program that keeps your employees informed and prepared. We identify the gaps in your current training program and get you into compliance with all regulations. We can also build a new program from the ground up. Call WTA, Inc., today to learn more.

Outsourced human resource services could mean the difference between failure and success for your young company.

You’re an entrepreneur — you’re committed to learning and mastering the information you need to accomplish your goal. You’re driven and focused. It can be hard to know when to call in an outside professional to handle a task, and in many cases, you are the best person for the job. But when it comes to human resources, this is probably not the case.

Your startup needs you. Your vision and direction is essential to drive growth. If you’re wrapped up in payroll and benefits management, will your company continue to thrive? If you’re spending hours researching compliant hiring practices, will you have the time to continue carrying out all or your other equally important duties?

Outsourced human resource services make sense for companies in all industries and of any size, but it especially makes sense for startups.

Why Do Startups Fail?

StartupGenom surveyed over 3,200 startups and found that 74 percent of startup failures can be attributed to the company scaling prematurely. Premature scaling means the company grew too quickly, before it was prepared to handle the effects, and as a result, it folded. This could happen, for example, if the company hired too many employees too quickly, or hired too many specialists before they were critically needed.

Why Outsource Your HR?

As a startup founder, if you’re drowning in paperwork and need help from a professional, think twice before building an in-house HR department — there’s a better alternative. Rely on outsourced human resource services instead, and get the assistance you need to prepare to scale your business, plus these benefits:

Gain Access to Infrastructure and Software

Your outsourced team will have their own system already in place to take care of your HR tasks, including all the software and equipment required to establish a working payroll and benefits system. You won’t have to build your own system from scratch.

Recruit the Best Talent

With outsourced human resources services, you’ll save money that can be used to flesh out your benefits package. Since your outsourced team takes care of the hiring process as well, you’ll have an expert on your side to help you identify the potential employees who will help your company grow.

Prepare to Expand Geographically

Your startup might expand faster than you think. Once you hire workers in other locations — be it outside your state or country — you have to follow the payroll and tax laws that govern these areas. You can depend on your outsourced team to handle these complexities with ease.

Stop Wasting Time

When pesky, repetitive tasks like payroll become too much for you, outsourced professionals ease the burden. You can even outsource just one responsibility if you choose. Then you can get back to focusing on the tasks only you can handle. If you have in-house HR staff, they can focus on tasks that align with their strengths, and contribute to company growth.

Stay Current on Policy

Just keeping up with changing compliance regulations is a full-time job, and you’re already working overtime. Make sure your startup is in line with the rules by trusting a competent professional to manage policy and procedure.

Outsourced human resource services could save your startup by enabling growth that leads to greater success, rather than causing your business to buckle. Trust WTA, Inc., for personalized, professional HR management — call today to learn more.

Outsourced HR services can provide your business with many benefits — decreased costs, increased efficiency and more flexibility.

If you as a business owner are overwhelmed with payroll regulations, or your in-house HR team has more work than it can handle, it’s time to look into what a professional employer organization (PEO) can do for you. Don’t fall for these common myths about outsourced HR services — none is true.

Myth #1: It’s Too Expensive

When you work with a PEO service that’s focused on helping small businesses succeed, you will only pay for the services you need. You aren’t forced to pay for a package of services, some of which you may not want or need.

Also, the costs are based on the number of employees you have, so you can find a plan that fits into your budget.

Myth #2: It’s Too Difficult to Set Up

It doesn’t take long to set up benefits packages and payroll, not when you have an experienced service provider on your side. Outsourced HR makes your life easier, not harder, so the setup is as streamlined as possible.

Myth #3: Payroll Must Be Switched on Jan. 1

While it makes it easier to switch payroll providers after the fiscal year or current quarter has come to a close, it’s possible to make a change at any time of the year. You don’t have to put off signing up for outsourced HR services — you can do it now.

Myth #4: You Will Lose Control

Qualified PEOs don’t try to take the reins — they let you steer the ship. You can relinquish as much or as little control as you wish. You still have the final say when it comes to the meaningful details. The only difference is now you have the assistance and experienced advice you need.

Myth #5: My Business Is Too Small

No business is too small to benefit from outsourced HR services. Take the pressure off and trust a team of professionals to stay current with labor laws and tax changes and free up room in your own schedule. This will foster growth, and soon enough your business won’t be as small as it once was.

Myth #6: It Will Hurt Jobs

You may be hesitant to depend on a PEO if you already have an in-house team, but think about this: Wouldn’t you rather have your in-house professionals working on a wider array of tasks and responsibilities? By taking some of the tedious tasks such as payroll off their to-do list, you’re freeing them up to focus on other, equally important projects.

Again, this can spur growth and propel your business toward further success.

WTA, Inc. provides the outsourced HR services you need to conquer daily challenges, manage time more efficiently and continue meeting and exceeding your business goals. Contact us today for a free quote based on what you want and need from our talented staff.

Every industry has some small business hiring challenges, and some are formidable enough that they can make you hesitant to push your company to the next level.

You know you’re ready to expand your workforce and hire the staff you need to continue your success, but the four small business hiring challenges listed below can be difficult to overcome.

What’s the solution?

1. Recruiting Skilled Workers

It’s not always hard to find a job candidate who has all the basic requirements for the position, but you’re not just looking for a warm body. You want an employee who has all of the base experience and then some, including the specialized skills that you’d consider a plus.

As a small business, you may not have your own dedicated human resources department. Because of this limitation, it’s difficult to compete with larger corporations that have whole hiring teams dedicated to seeking out the perfect candidate.

How can you find the skilled workers you need?

2. Hiring Dedicated Workers

It’s not just about what’s on paper. When you’re making a decision to add to your company’s team, you want to make sure your choice’s goals and lifestyle fits your brand. You need to find a corporate culture fit.

Because small businesses are less able to absorb the expense of an employee who quits suddenly, you want to take extra precautions when making a hiring decision.

One of the biggest small business hiring challenges is discerning which candidate’s personality will fit seamlessly into your business, producing a symbiotic relationship.

3. Implementing Effective Training Strategies

Once you’ve made a hiring decision, how do you ensure your employee gets the right training?

Again, without a dedicated human resources department, you’re on your own when it comes to designing a training program that effectively assesses knowledge and fills in the gaps where needed. This is important for so many reasons, including adhering to government regulations and overall business success.

The sooner you can integrate the new employee into daily operations, the sooner the hire benefits your company.

4. Maintaining an Attractive Benefits Package

One last top small business hiring challenge is designing a benefits package that will make your employees — both current and future — always pick you over the larger corporation with more resources.

How can you put together a unique bundle of benefits that caters to what your employees are looking for?

Outsourced HR Services

You don’t have the capital to establish your own human resources department, nor is that even really what you need. The answer to all of these small business hiring challenges is to outsource your human resources work to a professional employer organization.

You need a team of professionals on call who are skilled in the hiring process. You need a contact you can depend on for recruitment, testing, interviewing and training. You need an organization that will target your company’s benefits package to the desires of your employees, establishing you as a competitor in the recruitment field. You need WTA, Inc., a Utah PEO, when you’re facing these four small business hiring challenges. Call today to learn more about all of the services we offer.

An employee wellness program can dramatically improve the lives of your workers, resulting in a boost to your bottom line.

More companies are instituting employee wellness programs every day because of their many benefits, from decreased sick leave to increased productivity.

Have you considered designing an employee wellness program for your team?

What’s the Benefit?

The advantages of an employee wellness program include better attendance, decreased medical costs and lower turnover rates.

Healthier employees are more engaged employees — and they don’t need as much sick leave. The Institute for Healthcare Consumerism reported that a company’s wellness efforts lowers the rate of absences due to sickness by 28 percent.

Health care won’t be as costly because prevention is the best medicine. According to the 2013 Aflac Workforces Report, medical costs decreased by $3.27 for every $1 an employer spent on employee wellness.

When employees are active participants in the employer’s wellness program, they’re less likely to leave voluntarily as well. At the Biltmore company, the turnover rate went from 19 percent in 2005 to 9 percent in 2009, due to the integration of an effective employee wellness program.

Each of these three benefits translates to cost savings for employers, making a wellness plan a smart way to invest in the success of a business.

Identify Needs

Before setting up a program, identify the needs of your employees. Take surveys to find out what your team members would value most. Programs can range from smoking cessation to financial management classes — any topic that will provide opportunities for personal development.

The following are popular classes and topics to incorporate into a comprehensive employee wellness strategy:

• Heart health
• Back and spine health
• Allergy and asthma care
• Diabetes prevention and treatment
• Healthy diets
• Men’s and women’s health
• Understanding health insurance
• Managing stress

Form a Team

Designing a program can be a significant time investment, so it’s best to involve multiple people. Forming a committee to establish and run the program can help ensure many opinions and preferences are incorporated, and it may encourage heightened interest and involvement.

Offer Incentives

It always helps to offer an incentive. Whether it’s a cash bonus for everyone who quits smoking or a reward, such as a Friday afternoon off to the person who walks the most miles during the week, incentives can help provide the motivation your employees need to start taking charge of their health.

Change Workplace Culture

Ultimately, implementing a wellness program is about changing your workplace culture. You want to create a productive environment where everyone works together toward a common goal, but puts their health front and center, not treating personal development as an afterthought.

Contact WTA, Inc., for information on how adding an employee wellness program could make your business a top choice for the most qualified candidates. Get hands-on help with the hiring process and flesh out your employee benefits package today.

By 2020, millennial workers will make up 50 percent of the global workforce. By 2025, they’ll make up 75 percent.

In Utah, millennial workers are plentiful, and it’s a portion of the population that’s only expected to grow. After all, Utah is America’s youngest state. The average age is 29.9, while the national average age is 37.4.

If you’re a Utah business owner, you need to know what you can do to retain workers from the millennial generation. It starts with understanding exactly what these workers are looking for. The answers may surprise you.

Opportunity Beats Pay

According to a global survey conducted by PricewaterhouseCoopers, the characteristic that millennials consider the most important in an employer is the opportunity for career progression. Fifty-two percent of survey respondents stated that this was the defining factor in an attractive employer.

Forty-four percent cited competitive wages as the most important, and 35 percent stated that training and development was the most vital. But overall, most millennials are primarily focused on achieving their career goals and realizing their ambitions.

Best Benefit?

Another surprising characteristic of millennial workers is how they view employer benefits. Or maybe it’s not so surprising considering they are the most educated generation in history. The top benefit millennials want from their employer is training and development. Twenty-two percent cited this as the benefit they would value most.

Flexible work hours came in second place at 19 percent, and cash bonuses ranked third, with 14 percent preferring this benefit most.

Work Life Balance Is Crucial

It’s not enough to promise a work-life balance — employers have to deliver. Ninety-five percent of millennials consider this an important factor when selecting a position, and 70 percent consider it very important.

Sometimes millennials are disappointed with how their employers come through on this front. Twenty-eight percent of millennials say that the work-life balance was worse than they expected it to be.

Community Care Is Essential

Even though 71 percent of American adults think millennials are “selfish,” it’s not always the case. Many millennial workers are proving the stereotype wrong. For example, a 2010 Pew Research study found that more millennials valued helping others over achieving a high-paying career.

Using company time and allowing for planning time to organize community service outreach can draw in millennial workers and give them a sense of satisfaction and purpose.

Wondering how you can flesh out your benefits package to appeal to millennial workers?

You can start by analyzing your benefits package and addressing the areas that are lacking. For employee benefits administration assistance, contact WTA, Inc. today. An expert PEO service provider can help you save money to put toward the benefits that matter most to millennial workers.

PEO services are invaluable for small businesses. A professional employer organization allows you to focus more on running your company and less on the minute details that only serve to take up room in your daily schedule.

On average, membership in a PEO makes it 50 percent less likely that a small business will fail. The owner is more focused, the employees are happier and business just gets better.

Improve Your Benefits Package

The first way PEO services can transform your business is by widening the scope of the benefits package your company offers. By pooling the partnered employees, PEOs are able to score a better rate on health, dental and vision.

From 401(k) plans to life insurance options to flexible spending accounts, membership in a PEO allows you to offer more to your employees for the same or less than you already pay.

Compliant HR Training and Manuals for Employees

Think of your PEO as your outsourced human resources department. They take care of the training that your employees need but that you don’t have time to manage. They will produce and provide the company manual and answer all employee questions throughout the training process.

Much Less Time Spent on Paperwork

Payroll processing alone can eat up a large chunk of your day and your week. And you have to dedicate this time to payroll every pay period. Wouldn’t it be nice to have this task off your list of things to do?

Claims Are Handled with Ease

You probably don’t know the first step of processing a discrimination or a worker’s compensation claim, but PEO services do. You can rest assured that your employees’ concerns and injuries will be addressed in a timely, lawful manner.

Managed Recruitment and Hiring

PEO services even can recruit new employees for you. You may not know how to properly and legally word the ad’s job description, but you can trust your PEO to do it perfectly. You can off-load as much responsibility as you’d like them to take on during the hiring process — they can run the interview and report back to you on matching candidates.

Tax Time Is Less of a Headache

It’s a full-time job to stay on top of ever-changing tax laws. Ensure you are on track for withholding and make sure all immigration paperwork is filed correctly when you trust a PEO to take on this task.

Set Up an Employee Review Process

Your employees will love that you’re now depending on PEO services for many reasons, but one of the top ones will probably be that they get regular, detailed reviews. Your employees want to know that if they work hard and improve, they will be recognized and rewarded. With the help of your PEO, you can set up a review process that your employees will appreciate.

Trust WTA, Inc., for comprehensive PEO services to fit the needs of your small business, and see a big difference right away.