Julia Child said: “Any disaster is a learning process.” With Hurricane Dorian recently behind us, it’s a good reminder about being sure to understand what employers owe to employees after a disaster. The matter is complicated by various factors: the type of employee involved (exempt or non-exempt), whether or how long you’re closed for business, and federal versus state and local laws. Do you have to pay employees for the time your company was closed? Under the federal Fair Labor Standards Act (FLSA), you must continue paying the regular salary to exempt employees (managers and others not subject to federal […]

George Bernard Shaw said: “Those who cannot change their minds cannot change anything.” Being able to change your mind is a quality of good leadership. It means listening to other points of view and, where appropriate, moving in a direction that differs from your original course. Being openminded is a way to gain the trust and respect of your staff. And it certainly can lead to new ideas to help your business grow. What do you need to do in order to be openminded? Ditch old habits Thinking in a certain way is a product of doing things routinely. Get […]

“What the world really needs is more love and less paperwork,” said Pearl Bailey. Of course, she was right. But the government doesn’t see it that way. Different agencies have different record retention requirements. And in addition to this, there are other recordkeeping requirements for your business. Here is a roundup of some of the records you need to keep and for how long. Company records As a business, you need to keep a number of records. These include: Incorporation or limited liability company formation receipt from your state: keep permanently. Bylaws and corporate minutes: keep permanently. Licenses and permits: keep […]

What about a job applicant’s salary history? Labor Day is the time to celebrate the American worker. One of the issues that has come to the forefront in recent years is the matter of a job applicant’s salary history. There has been a growing number of states barring employers from inquiring about past salary history. But not all states are on board. Be sure to understand what you can and cannot ask a job applicant about his or her salary history. States barring inquiries Proponents of a ban on questions related to salary history argue that the questions discriminate primarily […]

Holiday sales are expected to grow, so be prepared If you’re planning to take a vacation or travel to see family at holiday time, it’s a good idea to book now. But even more important, if the holiday season is an important sales period for your business, now is the time to get started. It’s predicted that holiday sales are expected to grow 3.7% over last year and, for the first time, reach $1 trillion. Watch the calendar The holiday shopping season unofficially starts in October. But even in the summer months, there are Christmas-themed items for sale at retailers. […]

Introducing Bitcoin Bitcoin, which began in 2008, has entered the vernacular. It’s not the only virtual currency out there, but it’s the one that most people know about. At present, a number of major companies, including Microsoft, Intuit, and Shopify.com, accept Bitcoin as payment. The question is whether you should too. Understanding Bitcoin Bitcoin is one type of an Internet-based “digital currency.” It is based on a protocol that enables payment to be made between parties without an interim, such as a bank or credit card company. The value of Bitcoin fluctuates, so it can’t be said that one Bitcoin […]

What does “business etiquette” mean? Business etiquette is an umbrella term that includes not only business manners in the workplace (including business dining), but also business communications, business attire, and more. As someone who’s been around for a while, it’s amazing to think that a blog on the subject of business etiquette could be helpful, but I think it is. How many times have you been in a meeting when an attendee gets a phone call…and takes it right there and then? How many times have business associates shown up late to a meeting with you? These situations demonstrate poor […]

Small businesses consider their options in the face of rising minimum wage rates Currently, the federal minimum wage is $7.25 hour. But many states and some cities have higher minimum wage rates. The highest one is in San Francisco, where the rate is $16.30 per hour. With calls to raise the federal minimum wage rate to $15 per hour, what can small businesses do to cope with this added cost of doing business? The options aren’t easy. Background on minimum wage rate hikes The minimum wage rate is climbing in some localities. For example, in New York City, the rate […]

The U.S. Department of Labor issued a final rule that will expand accessibility of affordable retirement plans to small businesses. The rule, which has an effective date of September 30, 2019, may be changed after comments to it from the public are reviewed (the deadline for comments is October 29, 2019), but here are some facts to explain what association retirement plans (ARPs) are about so you can decide if they are a retirement plan option for your company going forward. Background The Bureau of Labor Statistics found that 38 million employees (approximately 53%) working for small and mid-sized companies […]