Employers across the country are getting their UI Tax Rate notices and promptly going into “Sticker Shock”. Getting your tax rate notice is a bit like getting a root canal – you can’t avoid it and it can be unpleasant and painful. So, now that you know your tax rate for the coming year it is time to figure out what to do about it? Here are a few suggestions to help you along:
- Your Unemployment Cost Management Program – if you don’t already have one, put one into place. If you already have a cost management program in place, improve it. This program involves…
- putting policies and processes into place to identify claims that should not be paid and effectively protest them
- identify credits that you should receive and go get them
- and catch errors and correct them before they cost you more.
- Get a UI Cost Management Software – if you have more than 100 claims/year then tracking and auditing your UI claims, protests, and charges is more time consuming than it needs to be.
- Audit Your Claims and Protests – identify the following to get control of your costs…
- claims you should have protested
- protests you should have won
- and credits you did not receive
- Audit Your Employee Handbook – this handbook can be your best friend or your biggest headache. Ensure that your policies are in line with employment law and also with unemployment law in your state.
- Learn More About How the UI System in Your State Works – not knowing how things work will only make you lose protests and pay higher UI Tax Rates.
Unemployment Insurance is a major employer cost each year and getting control of your tax rate and lowering costs should be a priority. These are just a few of the areas in which you should focus your efforts to lower your UI tax rate and save tens or even hundreds of thousands of dollars in UI costs. To learn more, visit us on the web at www.unemploymenttracker.com.