TALENT

Growing BusinessTALENT

The Two Core Functions of HR

QUICK SUMMARY

As your business grows, you’ll find yourself wearing a new hat: HR Director. Suddenly, you’re not only managing people; you’re managing the managing of people. There are a number of administrative issues to address, including:

How to Set Up Payroll and Personnel Management

Setting up payroll and personnel management isn’t just about organization; it’s also about complying with federal and state law. Your first step is to set up a system by:

  1. Obtaining a nine-digit federal ID number and where applicable, state and local employer ID numbers (EIN).
  2. Having each employee sign and file IRS Form W-4 – Employee’s Withholding Allowance Certificate and IRS Form I-9 – Employment Eligibility Verification Form.
  3. Determining your pay period—that is, how often you’ll pay employees.
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How to Implement Employee Benefits

The benefits you offer will impact your employees’ and their families’ lives. By law, there are two types of employee benefits: required and optional. Required employee benefits include Social Security, Unemployment Insurance, Workers Compensation Insurance, Disability Insurance, Family and Medical Leave, and Health insurance.

Optional employee benefits include the most common leave benefits (holiday/vacation, jury duty, personal leave, sick leave, funeral/bereavement leave), COBRA benefits, retirement plans, pensions, and employee incentive programs such as flex time, workplace wellness programs, and bonuses.

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