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Simple Ways to Show Employee Appreciation This Holiday

Show Employees Love This Holiday Season and Get Better Results

With the holiday season upon us, there is no time like the present to give thanks for what we have and start holiday shopping. Employers should also be taking the time to give thanks to their dedicated employees this holiday season; not because it’s a kind thing to do, but because a little bit of genuine kindness goes a long way to boost people’s spirits and increase productivity in the workplace. As a boss, you probably are asking, “How do I go about doing so”? The key to making employees happy and keeping happy may seem difficult, but it really isn’t. It comes down to one word, respect.

Show Employees Love This Holiday Season

Show Employees Love This Holiday Season

 

Before you were in a position of authority, you too were an employee. If you were to think back to that time, what was most important for you? What made you feel valued? What made you feel respected as a person and as part of a team? The behavior of a supervisor has serious impact on the productivity of employees.

Recently, Glassdoor released an Employee Appreciation Survey which showed how employees truly felt when employers upped the appreciation factor and handed out well-deserved perks. Harris Interactive conducted an online survey of 2,044 employees that showed approximately 53 percent said they would remain with their current company if they felt more appreciation from management. Additionally, 81 percent said they would be motivated to work harder if their boss acknowledged their efforts. Something as simple as saying thank you can goes a long way. Unfortunately, this doesn’t seem to happen enough in the workplace.

The Importance of Gratitude

The Importance of Gratitude

 

Importance of Gratitude

Showing employees gratitude for their hard work does wonders to motivate creativity and production. When people feel valued, their mood improves and they work harder. When employees feel undervalued, there is no motivation to perform better than on a mediocre level. Interestingly, as part of Glassdoor’s survey, 68 percent of individuals admit their boss does show appreciation, but it’s geared towards people with more experience. Something as simple as saying thank you can go a long way. Unfortunately, this doesn’t seem to happen enough in the workplace.

Forms of Appreciation

Forms of Appreciation

 

Forms of Appreciation

When it comes down to showing appreciation, 75 percent participants who took the survey said money is valuable way to show appreciation. Other forms of gratitude came in at 46 percent including unexpected rewards. Forty percent of employees said having a bigger part in major decision making was on their bucket list, and 37 percent indicated that diverse career opportunities would score big points with them.

One gesture that goes a long way is ensuring each employee gets a Whatever it takes, deliver work anniversary cards, corporate holiday cards or business holiday cards on time, every time. The holiday season is when every business takes time out to celebrate their success… and the winning nature of any business is founded on the employees that do the work daily. Take the time to show them you know this well.

Retaining Employees

Retaining Employees

 

Retaining Employees

As the boss, it is imperative you create a pleasant work environment makes your employees feel valued as part of a team and individually. Showing appreciation for the work your employees do can come in various forms. A well-deserved day off for example is an excellent way to say thank you for your hard work. It has been proven time and again that most people don’t mind working hard, or even working overtime when they know they are appreciated and they will reap a reward later on down the road. On the other hand, employees who are not given respect and treated like cattle will search new employment.

Be Personable at work

Be Personable at work

 

Within each department, a boss needs to determine who their employees truly are. In this way, they are better able to give rewards suited for each individual or group. Being personable scores big points with employees as it makes them feel like a human and not like a robot that is merely performing actions.

There is no question that bonuses, raises in salary and paid time off go a long way to keep employees happy and eager to work, but there is another important factor to consider. Genuine gratitude cannot be falsified. People know when someone is saying thank you just because they feel they have to.

Looking at each employee as a person and understanding that although you are the boss, you as well need to be told thank you and job well done. Putting yourself in your employees’ shoes and showing empathy will keep productivity high and your employees happy. Positive reinforcement is the best place to start.

How Less Community Banks Will Impact Small Business Growth

The Effect Fewer Community Banks Have on Small Business Growth

 

Community banks

Community banks

Small business owners have benefited from small community banks for several years. With a 41 percent drop in community banks between 2007 and 2013, this is a sad situation. Small business owners have learned to rely on financing options from the smaller, more local banks.

With about 5,700 small community banking institutions in the US, most of these are holding less than $1 billion in assets. They represent about 98 percent of the US commercial banks, which are federally insured. Their assets make up less than 20 percent of banking assets.

Relationship building is the key to the business model for small banking. Perhaps having an advantage over larger banks, by developing more symbiotic relationships with small business owners, is the key to the success of small banks.

The Culprit

 

The Culprit

The Culprit

The Federal Reserve Bank cites that the Dodd-Frank Act is partly to blame for these changes. The Dodd-Frank Act went into effect in 2010, after which the decline in small community banks started. This is based on a study conducted by Harvard University. This affected the opening of any new banks, even in the midst of economic recovery.

The Dodd-Frank Act has made community banking more difficult. The law increased total U.S. financial regulatory restrictions by almost a third. Purchases of new software, hiring more compliance personnel, and answering to the oversight of government affected the costs of compliance.

 

Dodd-Frank Act

Dodd-Frank Act 

With such compliance demands, the community banks face increased regulations. Sadly, they had very little to do with the issues for which the Dodd-Frank Act was created. Higher regulations bring about greater expenses. This affects any decision making about growing more small community banks. Larger banks do not run into these kinds of problems.

With profits for small banking affected by regulatory expenses, there is a significant decline in start-ups. When small community banks cannot show a substantial profit, they cannot offer to fund small businesses. This creates a challenge that can be resolved.

Community Banks versus Big Banking

 

Big Banking

Big Banking

Small community-based banks are often the source of capital for small businesses. There is a mutual relationship established between the business owner and the lender, when using a small bank. The relationship is a mutually based where the bank relies on the small business to provide steady growth with interest and a base of substantial capital.

Relationships are built with small community banks. Lenders term this as relationship lending. Factors such as credit scores and financial statements, while important, do not become the focal point. Bankers look at the total picture, skimming past the hard edges to see the potential business relationship as an asset. Providing over half of small business loans, small banks still account for less than one-quarter of business lending.

Big banking can raise capital by stocks and bond processing, as well as commercial paper. They find that the expense of servicing, underwriting, and automating small business loans is unfavorable.

There Is a Fix

There Is a Fix

There Is a Fix

Policymakers have the ability to exempt small community banking institutions from the Dodd-Frank regulations. Problems cited are not a true representation of the model for community banking. As a result of these unnecessary regulations, the small business owners are denied access to credit. With an exemption of this act, there would be a better function for community banking.

A statutory amendment could be enacted that would allow the Federal Reserve Board to increase the size of banks that are covered by the Small Bank Holding Company policy statement. This statement issues in 1980 to assist in the transfer of small community bank ownership. Having a limited access to equity funding may mean that ownership of small banks would be allowed utilization of acquisition debt.

 

Tiered Regulations

Tiered Regulations

Tiered regulation can also be exercised so that the banking industry can maintain a solid ground while fostering growth overall. With efficient tailoring of regulations, the supervision of small community banks can lead the way for financial reform.

The bottom line is that with an open mind to the possibility of small community banking growth and financial health, there is a fix. To lose the advantages of small banking is bound to affect small businesses. In the long run, this can be devastating to commercial growth within communities and loss of revenues, affecting jobs.

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Latest Survey Reveals CPAs Lack Tech Skills to Serve as Advisors

New Survey Data Reveals CPAs Lack Technology to Fulfill Advisory Roles

 

More and more, accountants in the United States are doing less of the traditional accounting that we associate with the profession and more financial advising. A Sage Group poll recently found that 62 percent of accountants are offering expanded services that are focused on advising clients about tax law.

 

Tax Advisor

Tax Advisor

 

These services, which in include business advising, advice for start-up corporations, and advice regarding payroll, make up a major portion of a modern accountant’s workload. This focus on advisory services that don’t include number-crunching is paying off for many accountants. Three-fifths of accountants project that their business will grow in the next year, and almost thirty percent plan to expand their portfolio of advisory services.

What Is the Sage Accountancy Index?

Every year, the Sage Report surveys hundreds of accountants in the United States, and thousands worldwide, to create a report that indicates trends in the accountancy business both globally and for individual nations. For the U.S. report, over 250 American accountants were interviewed in the third quarter of 2014.

Future of Tax Accounting Survey

Future of Tax Accounting Survey

 

In addition, the Sage Report also interviews clients who use accountant services to measure the services they want to buy and other changes in the industry. The final report offers a clear picture of what accountants are offering and what clients want for them to offer.

The Role of the New Accountant

The Sage Accountancy Index over the past several years has found that the role of an accountant in the U.S. is changing. The new accountant focuses on a lot more than taxes and other number-crunching. This recent survey finds that most accountants are offering a variety of consulting and advising services. In addition, these expanded services are paying off, with accountants increasingly projecting business growth in the next year.

Tax Professional

Tax Professional

 

What are the most common expanded accounting services? According to this report, the top ones are business advice, data interpretation, and payroll services. In addition, a survey of businesses found that the services most business owners want from their accountant are business advice, accounting technology consulting, and mentoring. Smart accountants will cater to these needs and likely find further business growth and profit as a result.

The Tools of the Trade

The accounting industry is changing in our country, so the needed tools are changing as well. U.S. accountants clearly are embracing the new financial atmosphere, but many are not investing in the technology needed to be successful in their endeavors.

Cloud Software

Cloud Software

 

The Sage Group poll found that most accountants were reluctant to adopt new technology, especially internet technologies such as cloud computing. Only one out of ten accountants reported using cloud solutions or other online technologies to gain documents from and share information with clients. Almost 60 percent reported that they most often worked with their clients in person using paper documents.

How Can New Technology Help?

While most accountants are not using online technologies as an interface with clients, most are using them within other areas of their business and personal lives. Over half of all accountants use mobile and online technologies in their business, often for staff management. Most do not balk at using new technology in their business, but do not understand how cloud computing and other internet technology can help their business.

There are a few ways that cloud computing can help an accountant to work more efficiently, especially an accountant who focuses on advisory services. Cloud and other internet technologies allow both clients and the accountant to access documents at any time and place. With one out of three accountants in this survey answering that collecting documents from clients in a timely manner is their number one business obstacle, it is easy to see how cloud computing could help.

Technology that Meets Clients’ Needs

More Tax clients

More Tax clients

 

Clients, especially owners of small and medium sized businesses, increasingly report that they want more contact with their accountant and an expanded range of advice. These people feel that their accountant is in a good place to make advice regarding business plans and other business decisions. In addition, recent surveys show that business owners prefer to receive this information in a proactive and real time format rather than waiting weeks for an appointment.

This is one area where cloud and internet services can be very lucrative for an accountant. Because most accountants have not adopted this technology, a firm with the ability to offer real time advice is automatically set apart as a superior option.

More specifically, tax services such as e-filing in the cloud needs to become a standard with the new wave of tech-savvy accountants. They should be able to file 1099 misc online – and all other 1099’s and W-2 forms – for their clients using platforms they are 100% sure about. One of the industry leaders in this cloud service area is eFile4Biz.com.  They not only efile 1099 and W-2 forms. They also collaborate seamlessly with all industry standard desktop and SaaS brands, and adhere to the highest levels of data security practices in the space.

The services that clients most want will increasingly require online and cloud technologies. There are a variety of accounting software programs that include these components. This is an excellent way for accounting businesses to see immediate growth while also meeting the needs of modern business owners.

Stop by our Delicious page, and post your comments or resource links to debate this matter further.

 

The Basics Of Using The Hcfa Cms 1500 Form.

The Cms 1500 is one of the most important forms you need.

When working in professional medical office, requesting payment requires this form a lot. The form was previously called Hcfa 1500… but is now named Cms 1500. Medicare and Medicaid Services are credited with the name. Generally, it is used in requesting payment from a medicaid agency.

 

Lab work is typically covered by insurance form submission

Lab work is typically covered by insurance form submission

 

Suppliers and non-hospital providers use this to claim insurance payments.

CMS 1500 Forms must be submitted within 1 year from the date of serving a client. The tech used to scan the form at an insurer’s office is called OCR. The form is printed with a certain kind of ink, so you can’t simply copy it. Almost 100% of the time, if the ink on your form is not the quality needed, scanning issues occur.

 

Even basic check-ups using insurance require form submission.

Even basic check-ups using insurance require form submission.

 

Two keys to ensuring your submissions are accepted.

First, use the most up-to-date CMS 1500 version 02/12 forms. And second, make sure the ink is up to specifications. Ignore these recommendations, and rejections are almost guaranteed. The point being… when using the CMS 1500 form, get it from a trusted source. This will ensure on-time insurance payments, and no cash-flow problems.

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