Recent jobs data from the Department of Labor reported that US employers added solid 161,000 jobs in October and the unemployment rate fell to 4.9 percent. With the focus being on the overall Unemployment rate we often neglect to remember that unemployment effects some states and local economies more than others. Also, it’s important to point out that while we discuss Unemployment as a national issue the Unemployment programs vary by state and it’s the states that determine minimum and maximum benefits, the number of weeks and so forth.
Managing your unemployment insurance claims and costs can be a very manual and time consuming process. First you receive the claim through the mail or via a state unemployment insurance website, and then you look up the employment details in your back office software (payroll or HR software) and enter it manually into a spreadsheet for tracking purposes. This can take a significant amount of time away from your other duties.
It is extremely important to plan for an economic downturn, as many unexpected costs can arise. Without a set plan, it can be difficult for businesses to survive. In the last economic downturn, there were many companies unsuccessful at keeping costs down and, unfortunately, they went out of business. Your business might decrease and unexpected costs will certainly come up, but if you have a plan, you can get safely through. One cost to consider is the rise in unemployment costs. Read more
Did you know that the amount of Unemployment Overpayments totalled $14 Billon last year? It’s true… and $14 Billion is equal to the entire GDP of a small country like Jamaica.
Unemployment Insurance can be a confusing and time consuming process tomanage effectively. At Unemployment Tracker, we have created a web based software solution designed to make the process less confusing and much more efficient and effective. In order to better explain how, we decided that we would create a brief video to simplify our message and show in a very visual manner both the problems for employers in regard to Unemployment Management and how we can help. Take a look and then visit us on the web at www.unemploymenttracker.com to find out more.
It is important to control employee turnover in your business. High turnover rates can lead to increased training costs, inconsistent productivity, and poor morale. Because turnover usually increases Unemployment Insurance costs due to an increased number of claims from past employees, it also leads to reduced or limited profit overall. Are you wondering how to reduce employee turnover in your business? There are many things you can do, but most of all, you want to ensure that you are hiring the right people. There are a few ways to implement hiring practices that reduce employee turnover.
As we’ve discussed before, there are many reasons why employers only win about about half of the Unemployment Insurance (UI) claims they protest. Things like poor claims management, a lack of specific unemployment knowledge, and a subpar employee handbook all come into play, but the most common reasons are ineffective employee policies and poor documentation. How well you handle employee performance issues — such as attendance, progressive discipline, and poor employee performance — has a direct connection to winning UI protests and keeping UI costs down. For correct procedures on these common performance issues, please read below. Read more