Category: Business Performance

Effective internal communication has gotten more important since the pandemic and remote work decentralized teams. Better internal communication engages employees, keeps teams aligned, prevents duplicate work and keeps time from being wasted in searching for information. How can you supercharge communication no matter where everyone is working? Demonstrate empathy. Managers need to show that they know […]

When setting up your business, you will need to establish your company under one of many business structures. The business structure you choose will influence everything. From your day-to-day operations and taxes to how much of your personal assets are at risk and everything in between, it’s important to consider structures with a reasonable balance […]

“Performance management is an ongoing process of communication between a supervisor and an employee that occurs throughout the year, in support of accomplishing the strategic objectives of the organization,” according to the University of California, Berkeley. This communication process consists of: To improve these processes, employers are leveraging HR software that includes a talent management suite. […]

Are you worried about the likelihood of your business being audited by the IRS? If so, there are a lot of preventive red flags that you can keep an eye out for when looking to protect your business from being the focus of an audit. Returns are often selected for audits as a result of […]

There is an unbelievable number of companies across a wide array of industries, which may lead you to believe that the creation of a succession plan must be a unique and one-off process. For instance, family businesses in particular carry distinctive cultures and reflect idiosyncratic histories in ways that might be challenging for outsiders to […]

The Financial Accounting Standards Board created ASC 606, which is essentially a standard that clarifies how businesses must go about recognizing their revenue. The ASC 606 revenue recognition standard provides a consistent, principles-based framework for all businesses, no matter the industry. The standard is designed to create a path that businesses within all industries can […]

Finding a healthy and sustainable balance between remote workers and in-person employees can become rather complicated. Companies that do not actively work to improve this area of their business operations may find themselves losing valuable employees when this could have been prevented. Questions worth asking employees By incorporating these six questions into their planning process, […]

Are you rethinking your workforce strategy? The pandemic drastically changed markets. Many businesses closed in 2020, others retrenched and still others boomed. As you address your company’s needs, are you wondering if you have enough workers to operate effectively? Rightsizing is the process of making a company a more functional size. It’s often treated as […]

You can generally deduct the amount you pay your employees for the services they perform. The pay may be in cash, property or services. It may include wages, salaries, bonuses, commissions or other noncash compensation such as vacation allowances and fringe benefits. A fringe benefit is a form of pay for the performance of services […]

How do you think about the people who work for your company? If you believe they are  valuable individuals who contribute to your success, you are on the right track. If, however, you think of them as replaceable cogs in a wheel, you may be sabotaging everything from productivity and sustainability to the value of […]