HCM Insights April 2022

Upcoming Holiday

Memorial Day

In observance of Memorial Day, CBIZ HCM offices will be closed on Monday, May 30, 2022. Memorial Day is a Federal Reserve Bank Holiday, which means payroll draft dates may need to be adjusted.

Important Payroll Deadlines

Check Date	Check Processing Date
Tuesday, May 31, 2022	Thursday, May 26, 2022
Wednesday, June 1, 2022	Friday, May 27, 2022

 

As always, your CBIZ HCM team is here to help should you have questions. We appreciate your continued partnership, and we wish you and your business the best of health. Please contact your payroll services team if you have any questions.

 

 

Paperless Payroll

As part of CBIZ’s Environment Sustainability initiative, we offer clients the opportunity to take advantage of paperless payroll. Many businesses benefit from this paperless option that allows employees to receive their earnings via direct deposit or pay cards. Employees can then access their pay stubs and W2 forms online, and employers have online access to payroll reports. Going paperless could also help reduce your carbon footprint and keep you from paying shipping charges for delivering payroll packets. For more information, contact your CBIZ Service Team.

Creating a Green Work Environment

Reduce, reuse, recycle have all been buzz words in the past, but going green in the workplace does not just involve recycling paper or putting computers on sleep mode to conserve electricity; the movement also concerns the overall working environment and employee wellness. Various studies* have demonstrated that green work environments have reduced absenteeism, depression, and stress while increasing employee productivity.

To increase workforce productivity, try these earth-friendly tips: 

• Place indoor gardens or lots of natural foliage around the office. This will also increase air quality.
• Use window blinds that capture and reflect light into office spaces. 
• Place mirrors or heliostats on the roof that follow the sun’s path and reflect it into the building. 
• Situate workstations near windows, so most, if not all, employees have at least some exposure to natural light. 
• Increase airflow throughout the office and ensure you provide good ventilation for your employees. This will also help to prevent the spread of illnesses through the office.   
• Use non-toxic cleaning products in the bathrooms and on work surfaces. 
• Send digital files in place of paper handouts. This will eliminate clutter as well as waste. 
• Encourage employees to take the stairs rather than the elevator. It saves energy and increases physical activity.

 

*Studies include those conducted by the University of California, Los Angeles, Institute of the Environment and Sustainability, Rocky Mountain Institute, and the U.S. Department of Energy.

 

3 Tips for Retaining Top Talent

Businesses of all sizes are experiencing difficulty in hiring and retaining employees. Small businesses may be feeling the pinch a bit more, yet their agility may allow them to respond to the employment market more quickly than larger organizations. While many employees desire better compensation, benefits such as flexible work arrangements or career development opportunities may be of greater importance. Companies that can shift quickly may have better leverage for retaining their top talent.

Focus on Developing Employees

A 2020 survey from GetApp found that one in five small businesses cited a lack of employee skills as their most significant challenge. While a solution to this may be to recruit specific skills to close gaps, existing employees are often overlooked. While recruiting for talent with desirable skills may require significant resources, companies may be able to bridge these gaps in-house. Employers can consider providing career paths, creating mentorship programs, offering microlearning workshops to focus on a specific skill, or paying for employees to attain certifications or further their education outside of the workplace.

Offer a Flexible Work Environment

Many employees prefer to retain flexible work options. These offerings include work-from-home arrangements, hybrid work schedules (working part of the week in the office and part of it remotely), or flexible work schedules. However, not all organizations allow for remote or hybrid work. For example, remote work may not be an option if a small business is in the service industry. Yet, working with employees to create flexible scheduling options can go a long way. The feasibility of offering flexible arrangements will vary, but these offerings remain a priority for many workers today.

Create a Strong Workplace Culture

Even if they have limited resources, employers should focus on fostering a desirable workplace. Healthy company culture can help retain employees—and, in turn, create an environment that is attractive to prospective job seekers. Company culture is influential enough that it often drives employment decisions.

 

 

 

Employee’s Role in Cybersecurity

2021 was a record year for data breaches, with the average cost of a breach rising from 3.86 million dollars in 2020 to 4.24 million in 2021. According to IBM’s annual Cost of Data Breach Report, 2021 had the highest average data breach cost in the seventeen years they published it. Top among their findings is that compromised credentials caused the most data breaches last year and was responsible for 20% of breaches.

With that in mind, companies may find it helpful to remind employees of some fundamental measures that can go a long way in promoting a secure online environment.

• Use email safely – Never open or download attachments from an unknown sender and avoid clicking on any questionable link.
• Set up spam filters – These filters may not keep out all suspicious emails but are an excellent first line of defense.
• Follow safe password guidelines - Create passwords that are at least eight characters. Try using long phrases instead of strings of numbers and symbols.
• Don’t install anything on company computers - Never install or download software to a company computer without receiving proper permission from a manager or member of the Information Technology team. 
• Speak up - Promote an environment where employees are not afraid to ask for help if they feel they are in a cyberattack situation. 

 

 

Small Businesses Report Increase Hiring in March

The CBIZ Small Business Employment Index (SBEI) reported a hiring increase of 0.1% in March, a turnaround from the hiring declines seen over the previous two months. The CBIZ SBEI tracks payroll and hiring trends for over 3,600 companies with 300 or fewer employees, providing a broad insight into small business trends.

“Inflation concerns are eclipsing coronavirus-related worries among the public, driving more individuals into the workforce and prompting greater need among businesses as consumer demand rises,” said Philip Noftsinger, Executive Vice President, CBIZ, Inc. “We are even seeing a boost in previously hard-hit sectors, with the Arts and Entertainment industry reporting its most significant hiring boost since the beginning of the pandemic.”

The most notable hiring increases were seen in Arts and Entertainment, Accommodations and Food Services, and Construction at the industry level. Technology and Life Science and Wholesale Distribution experienced hiring declines.

“March activity tends to signal the start of seasonal hiring increases, as businesses prepare for the summer months, so we expect the growth observed over the last month to be an annual trend,” added Noftsinger. “While the report doesn’t show staggering growth, it is an indicator of improvement for the labor market.”

 

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The information contained in this HCM Insights is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations. This information is provided as general guidance and may be affected by changes in law or regulation. This information is not intended to replace or substitute for accounting or other professional advice. You must consult your own attorney or tax advisor for assistance in specific situations. This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.