Blogs

Keep your A-team on board! Dive into these proven retention strategies in professional services and cultivate a workforce that thrives. Due to factors like economic uncertainty, a shift to remote work, and early retirement, service-based companies have a new incredibly high turnover rate of 13.4%. Professional services like accounting, legal work, and marketing have chronically had lower retention rates, but the current state of the market has catalyzed a turnover spike. Employee turnover doesn’t have to be a casualty of recent shifts in professional services. Improving retention may be an...

Once upon a time, most businesses could rely on wages and salaries to attract talented employees. Securing the services of strong candidates was often purely a question of money. But much of that has since changed—and quickly—in the post-COVID-19 hiring and retention landscape. For many job-seekers, money is no longer enough. As a result, some businesses needed to prioritize their benefits package to attract top talent. Multiple trends can be seen driving the shift in attention toward employee benefits. Inflation rates hit multi-decade highs in the early 2020s, prompting some job-seekers to...

Tax season is upon us. While everyone’s financial situation is different, there are some basic guidelines to get you started. File Electronically This is the quickest way to get your tax refund. There are many online platforms that make filing your taxes safe and easy. You’ll need your account number and your bank routing number for a direct deposit. Personal Information The Internal Revenue Service (IRS) will need to know who is filing and who is covered under your tax return. Be sure to have your social security number and date of birth ready for you and other members in your household...

The competition for talent across various industries means that employers need to set up benefits packages such as 401(k) plans to attract top talent. However, employers incur significant legal responsibility in setting up and running such retirement benefit plans. Employers become fiduciaries of employee retirement benefit plans by default because they manage many of the administrative and investment duties involved. The Employee Retirement Income Security Act (ERISA) sets out principles and regulations about how the funds collected under these plans may be managed and invested, failure to...

As an employer, attracting and retaining talent is challenging as you work to drive your business forward. The workforce continues to be compressed, which only intensifies the need to stand out amongst other employers in your industry. This might include additional PTO, assistance programs, health care benefits, and for many, a structured and valuable retirement plan. As a leader at your company, the retirement plan landscape can be overwhelming at times. You want to offer your employees a plan to help them achieve a good retirement, while minimizing your risk and ensuring your plan fits your...