Press "Enter" to skip to content

Posts published in “Employment”

Auto Added by WPeMatico

48% of Gen Z Restaurant Employees Say Good Management is Key to Retaining Them

What do Gen Zers feel about working in the restaurant and food service industry? The National Restaurant Association Educational Foundation and the Center for Generational Kinetics carried out a nationwide research (PDF) to find out. For the $800 billion restaurant and food service industry in the US, understanding what Gen Zers think about working in the business is extremely important. This is because they represent the future of the industry as it continues to evolve with digital technology, automation, and even robotics. Many of these restaurants are small family owned and independent businesses. And in most cases, they will be the first to give employment to this generation. Whether the workers are in it for work experience or a career in the industry, the research offers some valuable insights owners can use. In an emailed interview with Small Business Trends, Rob Gifford, Executive Vice President at The National Restaurant Association Educational Foundation, pointed out why Gen Zers are important to the industry and particularly small restaurant owners. When asked, what this generation brings to a small restaurant business that no one else does, Gifford said, “Gen Z brings to the table a different perspective of what they want in a career. This generation has a strong desire to be a part of an active, creative, collaborative and flexible work environment.” This is particularly important as the way people work in a connected and highly technical environment continues to evolve. Gifford adds having a “Work environment that is flexible, provides a team atmosphere, and rewards hard work and performance” is the best way to attract members of Gen Z. With the industry set to add 1.6 million new jobs over the next 10 years, Gen Z and millennials will make up the bulk of the new hires. So why would a small restaurant business want Generation Z’s help? Gifford said these businesses can “benefit from engaging Gen Z, especially small businesses looking to grow their young employees into management and operational roles.” If a restaurant hires a Gen Z employee, what should they do differently? The answer Gifford gave probably applies…

Winternships

I heard about a cool program that helps NYC tech companies build more diverse teams. It is called Winternships. The program is run by a group called WiTNY (Women in Tech and Entrepreneurship in NY) which is a three year-old collaboration between Cornell Tech and CUNY to drive more female students into tech majors or minors, and into the NYC tech ecosystem. It works like this: A Winternship is a paid, three-week internship experience during the January academic recess for freshman and sophomore women in tech. Participating companies design an ‘immersion’ experience in their business – students sit in on meetings, meet executives, go on site visits — and they work together on a challenge project that they pitch on the last day. WiTNY identifies students based on a match between your needs and their skills. Their team will even help you craft the Wintern experience if you want. Here are some stats on the program: Last January, 46 companies raised their hand and welcomed 177 CUNY women into their companies. Amazingly, 54% of these young women were able to parlay that experience into a paid summer tech internship somewhere in the city. And here is the demographic of the CUNY student body: CUNY is among the largest and most diverse universities in the country, with 250,000 undergrads and approximately 85% students of color. If your team is trying to figure out how to diversify your internship and entry level hires, or just want to open your doors to transform the lives of young New Yorkers, considering hiring a Wintern team this January. And if you’re a small startup or a non-profit, WiTNY will even pay the student stipends for you. Sounds great, right? If you want to host a Winternship at your company this January, you can get started here. USV TEAM POSTS: Bethany Crystal — October 20, 2018Meeting in the middle

Should Your Company Offer an Employee Discount?

There’s some good reasons to offer an employee discount when you’re a small business. They work wonders for keeping good employees and here’s a list of some big names  who know and use them to their benefit. Reasons to Offer an Employee Discount Small Business Trends spoke with a few experts on the subject to find out what the best practices are. Compete with Larger Firms First and foremost, employee discounts are an excellent way for smaller businesses to compete with larger companies who have bigger budgets. Offering a discount on merchandise or food levels the playing field when you can’t match wages. If you’re in the food business specifically, an employee discount is an incentive for servers and chefs who need to work long hours. Long Shifts “A restaurant should offer an employee discount to make it easier for employees to work longer shifts without having to spend their entire paycheck on meals,” says Stacy Caprio from Fiscal Nerd, a company that supplies real time stock quotes to small businesses. “Think about your specific business type and what makes senses for your situation.” Simpler than a Raise Of course, one of the other reasons employee discounts are popular with small businesses is the fact there’s no actual money involved. Offering a percentage off your merchandise to workers doesn’t require the same financial juggling as a raise. Then there’s employee engagement. Millennials and the up and coming Gen Z’ers are looking for more than just a punch clock and paycheck. Recent stats say that companies that invest in the employee experience are four times more profitable than those that don’t. Allison VanNest is Head Of Communications at littleBits , a NYC-based technology company. She told Small Business Trends how a 40 percent employee discount benefited both workers and the business. Best of Both Worlds “We think it is important for employees in all departments to play with our product,” she says.  “Not only does it help them understand how to build and market it better, but it also allows them to create their own inventions in STEAM (science, technology, engineering,…

Amazon Plans to Lobby Congress for $15 Minimum Wage Angering Some Small Business Owners

Amazon is raising its minimum wage to $15 on the first of November for American part-time full-time, temporary and seasonal employees. Amazon Minimum Wage They’ve also said they’ll lobby Congress to push for a similar bump federally. Small Business Trends contacted Small Business & Entrepreneurship Council (SBE Council) president and CEO Karen Kerrigan to find out what all this means for small businesses. Painting a Picture Kerrigan started by painting a picture of what she feels is Amazon’s attempt to undermine their competition by trying to sway policy.  “Many of the small business owners I have talked to think Amazon is using its political influence to push for a policy that will undermine small to mid-size business competitors. These entrepreneurs do not like that at all,” she wrote to Small Business Trends in an email. Common Business Tactic Kerrigan feels that while Amazon can afford to give their employees a bump to $15 an hour, many small business owners allocate raises based on whether they can afford them. She points out what Amazon is doing is a common business tactic used by bigger players to stamp out their competition with smaller budgets. In a recent press release, she underlined how important costs and margins are and that any mandated wage hike will hurt many small businesses. She also pointed to the general negative reaction from colleagues and makes a prediction.  “The reaction by most of the small business community has been pretty harsh,” she writes in response to the Small Business Trends questions. “This is not a feel-good campaign on their part, but a pure business strategy to use government to take action to raise labor costs on all businesses.  This will not make small businesses happy with Amazon.” Rising Minimum Wage The issue of a rising minimum wage isn’t new. In fact, 20 states will give these workers a mandated boost in 2018. New York, Washington and places in California have taken the lead and gone to a $15 benchmark already. Kerrigan says the issue is best debated at the local level so entrepreneurs looking to break into markets…

91% of Women Employees Believe Business Owners Should Pay More, Offer Better Benefits

Small businesses are making good strides in hiring more women. However, a new Pew Research Center study finds that women still believe business owners should pay more and offer better benefits. Women and Leadership Pew surveyed a nationally representative group of 4,587 adults in the United States, between June 19 and July 2, 2018, with support from Pivotal Ventures, to investigate what people see as important when it comes to business and political leadership. The results were revealing for men and women. “About nine-in-ten women (91%) say it’s essential that those in top executive business provide fair pay and good benefits positions, a view shared by 77% of men,” John Gramlich, writer and editor at Pew Research Center, reported in a post on the Center’s Fact Tank News blog. Women Want Fair Pay and Good Benefits Positions in Business It’s not entirely surprising that the vast majority of working women feel they should get better pay and benefits. Numerous studies have shown gender pay disparity is an ever-present issue in the workplace. In 2015, a survey of men and women who graduated college a year prior found that women earned only 82% of their male peers. Women were getting about seventy-nine cents on the dollar compared to their male counterparts. Even after accounting for factors like choice of major, grades, geographical location, marital status, and economic status, a seven percent pay gap remained. Wage inequities start early and worsen over time. Per The American Center for Progress, women must earn an additional degree to make the same amount as a male co-worker over the course of their professional careers. Even in 2018, women are still getting a raw deal and making less than men. If you’d like to offer fair wages for both men and women in your small business, it is worth noting some of the reasons why this gender pay gap persists and how you can combat it. Reasons Why Gender Pay Gaps Persist in Businesses Recent research has identified some of the reasons for pay inequality between men and women, although much of the pay gap has not…

61% of Small Business Employees Would Give Up Benefits for a Pay Raise

Low unemployment rates and an increase of 10 cents to the average wage is making the job market more competitive. But even in this environment, 61% of small business employees said they would give up benefits for a pay raise, this according to QuickBooks’ 2018 Small Business Pay & Benefits Report. In addressing pay and benefits, QuickBooks is pointing out an issue many small business employees are forced to compromise on. The choices are hard and they depend on several different factors including being single or married, children, age and more. For small business owners, payroll is one of the biggest challenges they face, especially in this economy. But businesses have to address the needs of their workforce by engaging with them to determine if they can meet their demands. In the report, QuickBooks says employers have to anticipate the needs of their employees if they want to stay ahead of the curve. It adds, “Rather than waiting for an employee to speak up and ask for a raise or a bonus, employers may want to implement yearly, bi-yearly, or even quarterly assessments, so even those less vocal workers can get the compensation that keeps them motivated and discourages them from looking elsewhere.” Employee Compensation Statistics The majority of the respondents or 60.9% said they would give up their benefits to get a higher base pay. This data also goes hand in hand with the 54.7% who said they would accept a job without benefits. For small business owners finding the right balance between pay and benefits is getting much harder because employees have more opportunities now. And with almost half or 47.5% of employees feeling like they are underpaid, there is no doubt they are likely exploring greener pastures. The issue of pay was also addressed to determine if it has kept pace with the cost of living. Again the majority or 64.8% said no. When it comes to benefits, healthcare was deemed important by 61.4% of the respondent. Flexible working schedule was next at 53.1% followed by dental at 48.3%, retirement at 47.6% and sick leave rounding up the…

5 Important Steps to Protect Your Business from a PAGA Lawsuit

In California, the Private Attorneys General Act (PAGA) allows a single employee to file a civil action against their employer on behalf of all other allegedly aggrieved employees based on labor code violations. These violations can include improper lunch break procedures, insufficient overtime pay, insufficient information on wage statements and more. PAGA lawsuits are not like traditional class action suits where a group of employees come together to seek damages against an employer. Instead, a single employee can initiate, and any other employees that were affected by the same alleged violation are automatically included. Additionally, PAGA lawsuits don’t involve damages, but rather penalties — 75 percent goes to the California Labor and Workforce Development Agency and the other 25 percent goes to the employee or employees. Penalties range from $100 to $200 per employee per pay period during the time of the violation. Tim Freudenberger, Founding Partner and Chair of Carothers DiSante & Freudenberger LLP’s Class Action Defense Litigation Practice Group said in a phone interview with Small Business Trends, “It essentially allows employees to act as bounty hunters for the state, since the state doesn’t have the resources to go after all of these employers for alleged violations.” Luckily for small businesses, Freudenberger says large companies with hundreds or thousands of employees have mainly been the target since the law was enacted back in 2004. But it does still apply to companies of any size with employees in California — even if the company isn’t headquartered in the state. Protecting Your Business From a PAGA Lawsuit So small businesses do need to be aware of these lawsuits so they can hopefully avoid them or deal with them properly if they do arise. Understand California Labor Code Requirements PAGA lawsuits can apply to basically any violation of the California labor code. There are numerous provisions that apply, but Freudenberger listed a few that tend to come up regularly in PAGA lawsuits: failure to provide a half hour lunch break for non-exempt employees, failure to provide regular breaks, improper overtime calculations, paying below the minimum wage, bonuses that weren’t properly calculated,…

Decisely Introduces Services Allowing Small Businesses to Provide Retirement More Affordably

As new state and city requirements force small businesses to provide retirement benefits for their employees, Decisely, a retirement solutions provider, has created a service aimed at the rowing market for small business retirement options. Decisely‘s service allows small businesses to make group purchases of retirement benefits by leveraging the economy of scale. The company has a suite of IRA and 401K solutions which meet the needs of employers and employees, as well as addressing the growing state and city requirements small businesses will have to meet. According to Decisely, when it comes to small businesses with less than 50 employees, only 20% of companies offer a retirement benefit or plan. The low rate is driven by the prohibitive cost of retirement plans which very few small businesses can afford. The new opportunity to make retirement plans affordable is being driven by the regulatory changes President Donald Trump signed on August 31, 2018. The executive order signed by the President is directing the Department of Labor and the Department of the Treasury to start looking into making it easier for businesses to offer multiple employer plans by leveraging their combined buying power. In an emailed press release to Small Business Trends, Decisely CEO Kevin Dunn addresses how the regulatory changes by the administration will help this cause. Dunn says, “We are excited for potential Administration changes that will benefit even more small businesses and their employees and look forward to the role Decisely Retirement Solutions can play in empowering American employers and workers.” Decisely Retirement Solutions The Decisely solution has been designed so small businesses can initiate retirement plans easily and affordably. It starts by lowering the administrative burdens which deter small businesses from even considering retirement plans. The company then minimizes the ongoing fiduciary risks and responsibilities of operating a plan. With these parameters in place, Decisely Retirement Solutions brings together multiple, unrelated employers so they can pool their resources. This combined effort is able to deliver a cost-effective scale in 401k benefits sourcing. All a small business has to do is sign up and adopt the plan. The compliance management…

The Cost of Hiring a New Employee Could be as Much as $7,645 Per Recruit, Report Says

Did you know the cost of hiring a new employee can be as much as $7,645? In his exploration of the costs associated with hiring and training new recruits, Amr Ibrahim, CEO of ULTATEL, a telecom solutions provider, cites an Industrial Distribution report titled ‘Distribution Hiring Process: The $7,645 Letter’. The report claims that in the quest to recruit, screen and train new employees, small to medium sized businesses can spend as much as $7,645 per new recruit. The Cost of Hiring a New Employee in 2018 For many small businesses and startups that struggle with cashflow but need new employees to stay on top of business operations and to ultimately help them grow, spending as much as $7,645 sourcing, recruiting and training new members of staff, is quite a burden. “The productivity of new employees doesn’t match the time and effort spent by companies searching for the right talent. While training and careful recruiting are important, business owners must boost efficiency among new employees in order for them to properly organize, delegate tasks and meet company goals,”  Ibrahim commented in a press statement. Fortunately, the heavy costs involved in recruiting new can be significantly reduced through various strategies and steps. Offering remote work to employees can have multiple benefits on small businesses struggling with the expenses of taking on new staff. Not only does letting members of your team work from home help increase productivity and morale, but it can mean you make considerable savings on expensive office leases. As the Telework Coalition’s ‘Wired Working as a Lifestyle’ report found, businesses save an average of $20,000 a year for each full-time employee who works remotely. The same report pointed to how, by encouraging high staff morale, remote working reduces employee turnover by as much as 50%. Without the need to keep recruiting new staff, by creating high employee retention rates remote working helps businesses save on the expense of sourcing and training new recruits. Ibrahim also points to how businesses can save money on the recruitment and training process by training new members of staff remotely through the use…

Freelance On Your Own Time

Sometimes you run across the image of an organ grinder and his monkey online and you think to yourself “I bet I could come up with a cartoon about that.” And then you sit and think for a while. And then you think some more. And then you take a shower hoping that will help. Then you sit and think some place else. Then you run some errands. Then you come home and sit and think back in the place you were thinking previously. And you think “I’m never going to crack this organ grinder cartoon!” And you think and think and think and think … And then you go to bed and the idea just appears to you and you think “oh thank God!” and go to sleep. This article, “Freelance On Your Own Time” was first published on Small Business Trends

Cookies help us deliver our services. By using our services, you agree to our use of cookies. More Info | Close