For small business owners, what’s the biggest challenge when it comes to running an organization? It’s not innovating new ideas, developing creative marketing campaigns, or even selling products. The single biggest challenge is managing human capital. In other words, it comes down to hiring and leading the right people. (more…)
From small startups to Fortune 100 corporations, company culture seems to be the topic du jour as of late. But, is all of this airtime really warranted? Does a company’s culture truly matter that much? Who pays attention to this? A recent study jointly conducted by professors at Duke and Columbia Universities found that an overwhelming number of C-level executives believe culture matters—a lot. So much so, in fact, that they said a potential business merger or acquisition could even fail if the cultures of the two companies involved did not mesh. (more…)
Once you grab that great franchise opportunity and find yourself in charge of not just a business, but the people that you need to help you run it, you will almost certainly find yourself on occasion having to deal with difficult or delicate employee situations. With this in mind, here are some tips to help you sail these difficult waters: (more…)
Today’s overcrowded job market makes sourcing and engaging talent somewhat harder for small businesses. Usually kept very busy by their many responsibilities, owners of small companies are unlikely to spend lots of time on recruitment – they simply cannot manage all those things at once. That’s why improving recruitment in small businesses is based on simplification. Once the hiring process is simple, clear and uncomplicated, managers significantly improve their chances at having a surge of new talent knocking at their door. Here are 5 things you can do right now to improve your hiring strategy. (more…)
The IRS, nearly every state tax agency, and even some cities require employers to withhold a certain amount from their employee’s paychecks to cover income tax, social security, and medicare obligations. These are payroll taxes, and it’s your responsibility, as a small business owner, to collect and send them in. The amount varies from state to state, and in some cases city to city, but there are three main steps to collection.
Everyone you hire fills out a W-4, which gives you some basic information like family size and other deductions. (more…)
More and more in professional conversations I am hearing about a sudden lack of workplace manners. It seems that today’s casual business environment has, in some instances, endangered the professional nature of the workplace. (more…)
The cotton cobwebs are popping out, you can buy just about anything in a pumpkin flavor, and “Creative Costume Ideas” is the number one Google search these days. That’s right, Halloween is in the air. MyCorporation likes to celebrate by dressing up and having a spooky-themed pot-luck for lunch (complete with Mummy Pizza and a bubbling Witch’s Punch).
We asked some of our small business experts how their businesses were celebrating the holiday and this is what they had to say!: (more…)
An employee leaving a company is inevitable in business today, either by getting fired or finding a better opportunity. It’s only a matter of time as the average American will work 12 – 15 different jobs in their lifetime.
Whether an employee is fired or leaves on their own will, it’s important to plan ahead for handling employee-employer digital breakups. The worst case scenario is when an employee is fired; even level-headed employees can become irate during this time. If still given access to company digital assets whether intellectual property, databases, servers or even company social media accounts, many employees could be easily tempted to harm a company’s reputation online.
Attracting and retaining key employees is essential to the success of an organization. When employees are working for organizations that give back, their sense of pride, trust and commitment strengthens. When employees feel valued and appreciated their dedication is enhanced with a wonderful influx of motivation which contributes to the vitality of the organization.
Here are 6 ways that businesses can invest in good employees.
1. Helping employees earn graduate degrees and MBAs
Olivet Nazarene University in Chicago offers a program where they will come to your office to fulfill certain program requirements onsite. “Our model is to offer our programs in a variety of settings that essentially take Olivet to the student. We partner with over 20 hospitals and numerous school districts to offer our nursing and education programs onsite at those locations. In addition to our offices in Bourbonnais, Oak Brook, and Rolling Meadows, we have classes running over 100 different locations in Chicagoland and throughout Illinois.”