By Mike Yoder, Chief Executive Officer
With the summer’s heat still in our memory, it may be hard to think about year-end and what that means. For business leaders, it definitely means annual budgets, employee performance reviews, merit increase analyses and W2s. Are you ready for the year-end?
Many employers do not have updated processes and forms that help with year-end compliance with state and federal expectations. Many people who have processes and forms take for granted that the management team knows how to conduct reviews, provide feedback and make smart decisions.
To help ensure your team is on top of its year-end game, ask yourself some questions. Does your staff analyze the potential disparate impact of their decisions? Do the annual reviews really reflect reality? You might discover that your management team needs a business owner’s active leadership and formalized training to reduce risk and improve performance. This is the time of year to make sure you are ready.
If you aren’t ready, the repercussions can hurt. If an employer fails to have consistent and compliant year-end processes, it fails to mitigate multiple risks including fines, taxes and potential lawsuits. Servant HR provides consistent communication with its clients to help ensure proper preparation is being executed and compliance is met.
One common year-end responsibility is W2 form filing. Rest assured that Servant HR is in touch with applicable payroll personnel to be sure employers have completed forms in the hands of those who need them when they need them. Our multifaceted relationship with clients enables us to recognize who needs this type of attention.
If you have any questions about your year-end readiness, please contact us.