One of your goals in your company is probably keeping employee turnover low. Not only is it costly in the moment because of the time and training necessary for a new hire, but you also know high turnover rates can mean increased unemployment insurance costs. You want to save money and have loyal, satisfied employees on your team. Try these four steps for retaining employees from onboarding to offboarding.
1. Create an Onboarding Team
Onboarding a new employee is not limited to the department where they will be working, so developing a strategy that isn’t cross-departmental is unwise. Pull together a team from across your organization, including IT and HR, to make the decisions. This way, when it’s time to develop a process, you have all the right people in the room.
2. Establish a Process
Now that you have your cross-departmental team, it’s time to decide what your onboarding process looks like. This can contain any number of steps, including IT needs such as keys, phones, and computers, to first-day orientation meetings with staff.
Developing the process now means you have the checklist to go through when a new hire accepts an offer. Instead of scrambling to make sure all the things you need are ready, you have the plan you need to not only keep yourself organized but give the employee an amazing first day.
3. Continue Engagement
The onboarding process is critical, but if you put all the effort into the beginning and never follow up again. Your employees’ first days should set the standard for the type of employer you are, meaning you stay involved and check-in to see how they are doing. This does not, however, mean you micromanage. The goal is to keep up with them and establish a relationship. Through building trust, your employees will be more loyal.
4. Don’t Neglect Offboarding
Even though offboarding means an employee is leaving doesn’t mean you don’t have the ability to promote retention with your other team members. How you handle someone leaving speaks volumes to your staff.
Begin with a proper goodbye, at least via email. Staff will hear rumors, and it’s better to get ahead of the gossip no matter the situation. Treat them kindly throughout their final days and follow a similar checklist to make sure all the right offboarding steps are taken, like changing access information, collecting equipment, and conducting an exit interview.
Get the Help You Need When Turnover Occurs
When an employee either leaves or is let go, they may file for unemployment benefits. Fortunately, Unemployment Tracker is here with a full range of solutions to help maximize your business and bottom. Request a live demo to see more today!
What does the unemployment claims process look like at your company? Do you have set channels where everything goes through and a breakdown of who’s in charge? Perhaps your process is more of a loose system, and you wish you could do more.
Developing a UI Claims Process
Every organization, even if you don’t deal with unemployment frequently, should have a process in place for any claims that come in. This is imperative to make sure you aren’t overpaying or even paying to former employees who don’t qualify. If you’ve considered creating a plan, but never found the time, why not now?
Relatively speaking, the time involved is minimal compared to the headaches it could save you down the line when everything is running smoothly. There are many moving parts, and developing a system gives you insight into all of them and helps you manage UI better.
When thinking about your plan, you can approach it from a completely internal perspective or one using a third-party administrator or TPA.
Creating an Internal UI Process
One of the keys to success is minimizing employee involvement, meaning you don’t have several different people and departments trying to be a part of the process. This is how important documents and communications can get lost.
While it could be too much for one employee depending on your industry, you could elect a small group of individuals whose jobs are to monitor the claims that come in, appeal when necessary, and stay up to date on the evolving federal and state tax laws that set rates and guidelines.
Working with a TPA for Your UI Claims
Because of the work and knowledge involved with properly handling UI claims, many employers opt to partner with a TPA. This relationship means you have the support from experts in monitoring your claims, and your current workforce isn’t stretched to do additional roles.
For example, at Unemployment Tracker, we offer a full range of solutions to meet your needs, whatever they are. We understand that not every company is in the same position, and some need software, and others require a more robust consulting plan.
Our goal is to take our expertise and help you experience a higher level of control over your UI costs and unemployment paperwork. This means whatever assistance you need in your process, we can provide. Plus, it’s our job to know all the laws, so you don’t have to!
Sound interesting? Request a live demo from Unemployment Tracker today to learn more about our solutions and see our fully customizable software.
When dealing with unemployment insurance, you know the basics, including what allows a former employee to qualify. The basic principle is they must be let go at no fault of their own, which is easy enough to understand. Employees who are laid off or let go due to downsizing are easy approvals for unemployment benefits. But what about those who quit? Read more
It’s tax season! This is a busy time for both employers and employees alike as information is gathered, and taxes are filed in conjunction with both federal and state laws. It’s also the perfect time to discuss the unemployment insurance taxes and unemployment claims in tax season.
Start with the basics: Unemployment insurance is paid through employer taxes.
As an employer, you pay federal taxes quarterly based on the number of employees you have and federal tax rates. This money goes into the unemployment insurance fund that assists out-of-work employees. In order to qualify for this money, your former employees must have been let go at no fault of their own, including being laid off.
This system was set up with the Social Security Act in 1935 to avoid some of the devastation workers faced during the 1930s Great Depression in the United States. As unemployment rates rose, there was no way for people to make money, leaving many in poverty. With the Federal Unemployment Tax Act (FUTA), a contingency system was developed. There is also State Unemployment Tax Act (SUTA), and each state has its own system and rates in place.
Reporting taxes: When does my company report FUTA tax to the IRS?
When you’re gathering other tax documents before January 31, make sure you don’t miss Form 940. This is where you will calculate the taxes you paid in the previous year, as well as what you owe now. Both the completed form and remaining balance is due by January 31.
Unemployment benefits recipients: Do I have to provide tax documents to them?
Because unemployment insurance is a form of income, it must be reported when filing taxes. The recipients of such benefits receive an IRS Form 1099-G from their state unemployment division, which means you are not involved with the process.
Still have unemployment tax questions?
This ultimate guide is still just the tip of the iceberg when it comes to the comprehensive world of unemployment insurance. Fortunately, there are TPAs out there to not only assist with managing your UI claims but help you throughout the year with things like taxes and the like. Contact Unemployment Tracker today to get the UI help you need!
It’s 2020, which means technology that makes life easier is key. The constant evolution continues to connect systems and lead to faster, more effective results. We know it’s a top priority for our clients and their busy schedules, which is why we’re excited to announce we are fully integrated with UI SIDES!
What is UI SIDES?
Before you can understand the excitement behind this, you might need to know what UI SIDES actually is. Broken down, it’s the Unemployment Insurance State Information Data Exchange System. Essentially, the system communicates with different unemployment insurance agencies and transmits data to and from both companies and third-party administrators, or TPAs.
There are different levels depending on how many UI claims you manage, but essentially it helps keep track of claims across several different levels, including state lines. With this information, it’s easier to track claims and payments for former employees.
What does the integration with Unemployment Tracker mean?
We’ve been working with UI SIDES because of all the benefits, including it being a free service, the decrease in paperwork, the confirmation of receipts, and prompt responses. Understanding what a valuable service it is, we’ve broken ground for the UI SIDES Benefit Charges Exchange, which streamlines unemployment insurance processes.
How does this help you?
Basically, it’s just another way we can help deliver more control over your UI claims and ensure you aren’t overpaying. Beyond just money, it’s saving the more valuable resources of time through the integration. You can visit info.uisides.org to learn more about receiving final charge reports and the other services available.
Partner with Unemployment Tracker
While UI SIDES is a great resource, it’s just another element that adds to the different layers of unemployment insurance claims and costs. We get that it can be challenging to keep up, which is why we offer a full range of solutions to meet every need and budget. Our goal at Unemployment Tracker is to give you more control over your UI costs and ultimately save you time and money. Request a live demo today to see what that could look like for you.
How often do you think about your unemployment costs? Better yet, how often do you think about unemployment insurance outside of the necessity of paying it? Too often, employers just accept it as a part of doing business without realizing the important details behind it. If you fall into this category, here are five reasons you should think more about your unemployment costs. Read more