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Virginia Unemployments Rates
Though the title of this article may cause some concern, the numbers for unemployment in the key areas of Virginia are holding steady. Seasonal dips in the rate are not a surprise in the summer months due to slowdowns in certain industries and markets. The trends we observe at Fahrenheit continue to be steadily positive for employers and the economy.…Read More -
Watch Out for Unfavorable ‘Related Party’ Rules
Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal Revenue Code contains a number of rules aimed at penalizing sales between individuals or entities that are considered closely connected and thus more likely to try to beat the federal…Read More -
Time to Take Another Look at High-Deductible Health Plans?
Enrollment in high-deductible health plans (HDHPs) could gain traction soon, as employers begin to focus on a very attractive feature: These plans have a demonstrated ability to control costs. Also, there is a growing urgency among employers to avoid exposure to the Affordable Care Act's "Cadillac tax," which is scheduled to take effect in 2018. These factors may cause some…Read More -
Handle Payroll Taxes With Kid Gloves
If you operate a business that collects payroll taxes from employees, here's a warning: Regardless of what your corporate financial situation is, don't borrow from the withholding tax fund. If that money isn't there when it's due, Uncle Sam will crack down hard. All businesses face downturns when cash flow dries up. It may be tempting to look at payroll…Read More -
Turning 65 isn’t for the Uninformed!
As we navigate our lives we face a steady stream of choices that will most certainly impact our long-term financial health. Should I buy that awesome new car or save the dough on a used one? Should I rent or buy a home? If I buy, is it better to take out a 15 or 30 year mortgage? Traditional or…Read More -
Proposed DOL Rule May Make Millions More Eligible for Overtime Pay
In his 2015 State of the Union Address last January, President Obama said employees should get the overtime they've earned. He then directed the U.S. Department of Labor (DOL) to review and amend the overtime rules under the Fair Labor Standards Act (FLSA) to make more workers eligible. On June 30, The U.S. Department of Labor issued long-awaited proposed changes…Read More -
Keep Your Best People On Board
The national unemployment rate recently fell to 5.5%, according to a Bureau of Labor Statistics (BLS) report for May. That's a two-point decline since May of 2013. A closer look at the current numbers reveals a 4.5% unemployment rate for all adults at least 25 years of age, and 2.7% for workers having at least a bachelor's degree. Also, in…Read More -
The Lie of Time-Savers
By Russ Gambrel, Senior Consultant
At the risk of dating myself, I witnessed the installation of my local bank’s first cash machine when I was kid. It looked like a robot. Boatman’s Bank –since swallowed in countless mergers- was the regional bank of choice for folks in St Louis in the 1980s. My father had suggested I open up a…Read More -
What is the No. 1 Job Skill Needed For The Smart Machine Age?
Darden professor Ed Hess strikes a contrarian view in this article, for both employers and jobseekers in this “knowledge intensive” hiring environment. “Humility” sounds almost like weakness, until Hess defines what that means: be a better listener, open-minded, with a collaborative mindset. Be someone who suspends beliefs (not values) in exploring Innovation. How does a person who has become successful…Read More -
Train Employees to Avoid Inadvertent Cyber-Security Breaches
The saying goes, there are only two kinds of companies — those that have been hacked and know it, and those that have been hacked, but don't know it. Perhaps that's an exaggeration, but the truth is that your employees may inadvertently invite cyber criminals into your company's computer systems.
Small business owners often lack the resources to enact a…Read More -
A CEO’s Story of Leveraging World-Class Talent on a Fractional Basis
Peter Buchanan: The Enormous Benefits of Leveraging a World-Class Fractional CFO
Before I joined Fahrenheit’s advisory practice, I worked as the CEO of an offshore software development company. The assignment was challenging. We grew rapidly from 105 people when I started to 150 people two years later. We had six locations – three in the US, two in Russia, and…Read More -
Using HR and People Analytics to Transform your Business
The use of HR analytics is a growing trend in talent management because it has clearly demonstrated its value and removed some degree of mystery in what can be done to enhance employee engagement. Regardless of how formal the effort becomes, all employers can benefit from a more fact based understanding of what factors attract new employees, encourage existing employees to reach their potential, and retain…Read More