THRIVE, a Paychex Business Podcast

In this week’s episode, Gene Marks takes a look at what’s happening around the country following elections at the state level. California, which historically gets out in front of others to set trends on legislation, has new laws regarding discrimination enforcement and driver’s licenses related to employment. Other states have minimum wage changes and ballot initiatives on paid leave, and New Jersey is flush with money for construction. Listen to the podcast for details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In the aftermath of a heated election, managing politics in the workplace is more important than ever. On this episode of Paychex THRIVE, Gene is joined by Paychex Talent Enablement Partners Alisha Moberly and Lisa Reyes to share practical ways to manage political discussions and potential conflicts at work. Learn about different tolerance approaches for political expression, the importance of establishing clear policies, and how to equip leadership to handle these challenges. Plus, hear what a new administration could mean for your business. For more in-depth information on managing politics in the workplace, check out Alisha’s and Lisa’s on-demand webinar: https://bit.ly/3CwGqHv Topics include: 00:00 – Episode preview and welcome 00:38 – Introduction of guests Alicia Moberly and Lisa Reyes 01:08 – Explanation of what Talent Enablement Partners 01:57 – Specific services provided to support Paychex customers 02:55 – Start of discussion about navigating politics in the workplace 04:31 – Encouraging post-election workplace civility 06:49 – Differences between employer's political stance and tolerance in the workplace 08:06 – Approaches for political tolerance in the workplace 10:37 – Perspectives on employers taking a political stance 12:28 – Establishing and enforcing political tolerance policies 18:45 – Managing and mitigating conflicts related to politics 20:10 – Importance of leadership training 21:20 – Managing political differences with customers 23:06 – New administration's impact on employers 26:09 – Upcoming regulatory changes 27:14 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Economists have said that with tariffs comes inflationary pressure and with tax cuts comes deficits, but there have been some lights around the stock index futures. So, as with any new administration there are pros and cons. Gene Marks comments on what small businesses might be facing. In other news, an EEOC decision has made zero proof a standard for employee religious accommodation, and order fancy drinks at your wallet’s risk because hidden fees are shaking people down. Listen to the episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The real estate industry is in a state of flux, with shifting interest rates, inventory levels, and market dynamics creating both challenges and opportunities for buyers, sellers, and agents alike. On this episode of Paychex THRIVE, Tracy Tutor, a top real estate agent, best-selling author, and star of Million Dollar Listing Los Angeles, shares her invaluable insights into the current state of the market and strategies for navigating these changes. Tracy also gives us a peek into the day-to-day realities of a luxury real estate agent, debunking the glamorous portrayal often seen on TV — behind the scenes, it's a grind that requires dedication, strategic planning, and the ability to adapt quickly. Topics include: 00:00 – Episode preview and welcome 01:19 – Introduction of Tracy Tutor 02:46 – Tracy’s general overview of the real estate industry 05:15 – Impact of interest rates on real estate market 06:36 – Advice for buyers in the current market 09:36 – New taxes in California's luxury real estate market 12:02 – Strategies for real estate brokers in changing market conditions 14:19 – The National Association of Realtors (NAR) decision impact 17:52 – Importance of commission negotiation and education 20:27 – Misconceptions about real estate TV shows and reality 21:17 – A day in the life of a luxury estate agent 25:07 – Work-life balance and setting boundaries 27:01 – Thoughts on hiring and team building 28:50 – Wrap up and thank DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

There are still funds to be found for businesses in 2024 that could set them up for 2025, and Gene Marks provides a roadmap. Businesses working in tech that supports capabilities that could benefit national defense can find a source in a new SBA program. There are grants available for education, and women startups that have a viable product prototype, not to mention grants available to restaurants who are recovering from natural disasters. Gene shares the names of the resource hubs, as well as a study that says people who give money to their children might not be gaining the expected impact. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Small businesses expressed that inflation is their top concern with 93% of those surveyed indicating that for the past three years that it has been their primary focal point. Gene Marks shares the other concerns businesses have ahead of the election. This episode also focuses on how employers plan to use AI in hiring and the impact that could have. And for those who have pushed for a shorter work week, look to Iceland for the positive impacts such a move could produce. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

We conclude our series live from the floor of HR Tech 2024 with John Phillips, vice president and general manager of Findem, an AI-driven talent acquisition platform. John explores how AI is reshaping the way businesses of all sizes connect with top talent — and it’s not just about speed and efficiency. The traditional "post and pray" model is being replaced by a more dynamic, targeted, and human-centric process. Curious how AI can help build stronger connections, reduce bias, and find the perfect fit beyond the resume? It’s all in this episode of Paychex THRIVE. Topics include: 00:00 – Episode preview and welcome 01:21 – Introduction of John Phillips 01:46 – HR Tech 2024 highlights and trends 02:33 – Discussion on changing workforce demographics 03:46 – Impact of data consumption on younger generations 04:12 – Recruiting evolution and technology 05:17 – How AI enhances recruitment processes 07:00 – Speed and efficiency in hiring 08:12 – AI's role in inclusivity and reducing bias 12:16 – Creating a talent-first culture 13:29 – Benefits of efficient recruitment processes 13:57 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A study by the Small Business Administration reveals that breached records can cost as much as $164 per record and the cost of a breach to businesses with less than 500 employees can be as high as $3 million. Gene Marks shares some tips during Cybersecurity Month to help your businesses understand and mitigate threats. Gene also shares the skinny on the latest healthcare benefit employees seek; weight loss drugs. However, only 18% of businesses are offering it on their plans. Gene shares insights on the trend, as well as why one retail association predicts growth for the holiday season. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Feeling workplace dynamics shift under your feet? With at least five generations now sharing office space, the old one-size-fits-all approach just doesn’t cut it anymore. On this episode of Paychex THRIVE, live from HR Tech 2024, we chat with Pete Tiliakos from GxT Advisors about a hot topic at the conference — the diverse expectations of a multigenerational workforce. As businesses grapple with the challenges and opportunities presented by Millennials and Gen Z employees, Tiliakos shares how technology is key in bridging generational divides and creating a workplace where everyone thrives. Topics include: 00:00 – Episode preview and welcome 01:26 – Introduction of Pete Tiliakos 02:18 – HR Tech 2024 highlights and trends 03:00 – Impact of evolving workforce needs 04:27 – Compensation strategies and technology 05:59 – Technology's role in pay experience 07:02 – Big data and tech for SMBs 08:12 – Empowerment through technology 09:01 – Evolution of HR and payroll roles 10:16 – Future of HR tech and AI 11:11 – Importance of human capital 12:08 – Crystal ball time: Predicting future trends 14:12 – Top three actions for a culture-first organization 16:27 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Owners of trades businesses such as plumbing and HVAC outfits are becoming millionaires by selling their businesses. Gene Marks looks at who and what is behind this latest trend. Also on this episode, Gene shares the findings of a survey that shows nearly three-quarters of business owners plan to replace their point-of-sale systems. What will this mean for customers and the business? In other trends, many business leaders are thinking about rescinding their work-from-home policy, which Gene doesn’t agree with. Listen to why he thinks this might not be a great move for anyone. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In today's rapidly evolving HR landscape, technology is more than just a tool — it's a driving force reshaping the future of work. Ready to stay ahead? Join industry experts Stacey Harris and Cliff Stevenson from Sapient Insights Group for the second installment of our four-part series live from HR Tech 2024. Discover the latest trends and innovations redefining HR, along with practical examples of how to leverage them to create a more engaged and productive workplace. Tune in and let this episode of Paychex THRIVE serve as your guide to navigating the future of HR technology. Topics include: 00:00 – Episode preview and welcome 01:28 – Introduction of guests 02:31 – HR Tech 2024 highlights from Cliff and Stacey 03:41 – Overview of AI and Skills Management session 04:44 – AI integration in business processes 07:06 – Influence of buyers and users on HR technology 07:50 – Impact of generational shifts on HR systems 11:06 – HR and IT collaboration 12:05 – Employee engagement and technology's role 13:35 – Spending trends and talent-centric solutions 15:15 – Top strategies for being a talent-first organization 17:25 – Workforce management strategies 18:54 – Crystal ball time: Predicting future trends 20:02 – Blurring lines between HR tech and productivity tools 20:26 – Rising importance of environmental data gathering 21:29 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Job growth and hourly earnings growth remained moderate, according to the Paychex Small Business Employment Watch for September. Gene Marks shares details from President and CEO John Gibson, who notes that external influences such as upcoming elections and rate cuts factor into the data. In California, employers need to know about a new law that offers freelancers certain protections, including around payment deadlines. In the southeast, businesses should be aware that funding is available to help post-Hurricane Helene and Milton from multiple sources. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, Trish Steed and Steve Boese, from H3 HR Advisors, join us live from the show floor at HR Tech 2024. At this year’s conference, they note a marked shift from merely implementing technology for technology's sake to how it can genuinely enhance workplace dynamics and employee satisfaction. The emphasis is now on finding technology that opens up avenues for better communication, understanding, and support between employees and management, while also making HR tasks seamless and giving back valuable time for what truly matters — human connection. Trish and Steve underscore the importance of embracing technology, flexibility, and a deep sense of care to navigate the future of HR successfully. Topics include: 00:00 – Episode preview and welcome 01:32 – Introduction of guests 03:00 – Insights on HR trends 03:47 – The impact of the current multi-generational workforce 05:07 – Expectations of younger generations 07:12 – HR technology’s impact on productivity 08:31 – The benefits of real-time employee feedback 09:17 – HR technology’s role in organizational flexibility 10:06 – An expanded approach to benefits 12:01 – The importance of unconventional benefits 13:14 – Supporting frontline managers with HR technology 14:13 – The importance of organizational transparency 16:31 – More discussion about support for frontline managers 17:57 – Creating a talent-first culture 19:46 – Holistic employee wellbeing 20:26 – The importance of growth and development opportunities 21:04 – The HR trends of the future 23:26 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this special edition episode of Paychex THRIVE Week in Review podcast, host Gene Marks welcomes Rob Parsons, Manager of Brand and Content at Paychex, to the show to shares firsthand insights from the HR Tech show in Las Vegas. AI, once again, topped the list but Rob also talks about how at this year’s show the emphasis was on demonstrating its capabilities. The conversation includes the other major issue businesses face: recruiting, retaining, and engaging talent, as well as empowering employees with technology. You’ll also hear about new products Paychex has launched and how HR analytics are crucial in tying everything together to help businesses succeed. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

How do successful small businesses focus on growth while also juggling changing regulations, employee wellbeing, and all that HR paperwork? They enlist a professional employer organization (PEO). Join host Gene Marks as he sits down with Tami Tillery, Senior Manager, PEO Employee Benefits at Paychex, to discuss how PEOs can transform your HR operations, providing a one-stop solution for payroll, benefits, compliance, and more. Tami also answers burning questions from entrepreneurs like you and shares expert insights on creating a happier, healthier workplace. Plus, learn about the surprising perks of employee assistance programs, including everything from legal support to dinner party planning. Check out Tami’s webinar, Proven Techniques for Building a Happier, Healthier Team, here: https://bit.ly/3N6U721 Topics include: 00:00 – Episode preview and welcome 00:56 – Introduction of guest, Tami Tillery 01:38 – Explaining what a PEO is 02:48 – Benefits of using a PEO 03:55 – Compliance and administrative support 05:41 – Overview of Tami’s employee wellbeing webinar 06:11 – Addressing mental health issues 09:17 – Techniques for happier employees 10:54 – Monitoring employee wellbeing 13:51 – Communicating employee benefits 17:26 – Overview of EAPs 18:47 – Personal examples of EAP usage 21:04 – EAP services offered by Paychex 23:01 – Importance of EAP benefits 23:45 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The Federal Reserve finally cuts the interest rate, but Gene Marks is tepid on how much a quarter-point will really spur the economy since banks are still making it difficult for small businesses to access capital. Still, he talks about it being a step in the right direction on this week’s episode, which also shares results of a survey that show 30% of small businesses not understanding or even using the necessary insurance to protect themselves and employees, which Gene offers tips to help. Plus, labor takes over as the top concern for businesses, pushing inflation down a notch. Listen to the episode for more details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In this week's episode, Gene Marks discusses concerns from a recent Wall Street Journal report about rising credit card delinquencies and higher interest rates, noting that banks, including Citibank, are worried about consumer's abilities to manage their debts. This could lead to decreased consumer spending, which impacts businesses across various sectors. Additionally, a new PYMNTS' report highlights cash flow issues for small businesses, showing that 70% have less than four months of cash reserves, with many owners foregoing their own paychecks due to financial strains. Gene also covers New York State's recently passed Retail Worker Safety Act where businesses with 10 or more employees must train workers in de-escalation techniques and those with 500 employees nationwide must also install panic buttons in retail stores for enhanced worker safety. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A new study from two of Columbia Business School's brightest minds, Jinkyong Choi and Jorge Guzman, reveals a striking correlation between the opening of Starbucks locations and a subsequent increase in local business activity. Specifically, neighborhoods witnessing the entry of their first Starbucks saw approximately a 5% uptick in new businesses compared to areas without such an addition. Choi and Guzman join this episode of Paychex THRIVE to discuss this phenomenon and share why Starbucks, with its inviting atmosphere for lingering and networking, is accelerating small business growth. Topics include: 00:00 – Episode preview and welcome 00:53 – Welcome and introduction of guests 02:28 – Jorge Guzman’s background 03:15 – Jin Choi’s background 03:54 – Overview of Choi and Guzman’s study 05:53 – Impact of Starbucks on local entrepreneurship 07:16 – Comparison with other coffee shops 09:52 – Starbucks' role in supporting freelancers 11:17 – Methodology of the study 13:16 – Is Starbucks choosing growing areas vs. causing growth? 14:28 – Implications of zoning board decisions on Starbucks locations 17:01 – Data sources for the study 18:02 – Impact of COVID-19 and study considerations 19:02 – Takeaways and strategies for small business owners 20:47 – Benefits of opening a business near a Starbucks 23:17 – Discussion on research about Starbucks and neighborhood entrepreneurship 24:28 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Hourly earnings growth fell below 3% for the first time since January 2021, according to the Paychex Small Business Employment Watch, which indicates the labor market is softening. Job openings have also decreased to pre-pandemic levels, also noting a softening labor market. Gene Marks notes that it could create opportunities to hire. Employers looking to save money or manage costs also might be interested in the trend of direct provider contracts for health care. Gene says it’s an interesting strategy in a health insurance landscape where rates keep rising. Listen to the podcast for more details.

Small and midsized businesses are feeling pinched as banks hold on to money rather than loaning it out, citing an uncertain economic outlook. Gene Marks says there is still funding to support those in need – and it isn’t the half-point the Fed might cut interest rates. At least businesses in the service industry don’t have to deal with the DOL’s tip credit rule after a federal court of appeals tossed it out for being “too granular.” However, as Gene points out, employees in that industry are expected to get the lowest raises in 2025, according to a survey. What can your business expect? Listen to insights on the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With predicted healthcare cost hikes to be as high as 9% in 2025 and annual enrollment approaching in a few months, Gene Marks employers prepare now. Consider offering multiple plans at multiple prices, going the HRA route, or consider captive insurance potentially to offset costs. Gene also discusses the court battle about the FTC non-compete ban, which one business group succeeded in getting stayed, and he has a simple suggestion. And with some businesses on deadline to provide Beneficial Ownership Information reporting, Gene says don’t risk the hefty fines. Listen to the podcast for more. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With July numbers in, the economy looks to be doing better than expected. Gene Marks points to an uptick in consumer spending, including with motor vehicle sales, and wages keeping pace with inflation. And even the inflation numbers look positive, although Gene says the rates for services such as childcare and insurance are skyrocketing and concerning. What might the Federal Reserve do? Small-business owners express confidence in numbers not seen in several years. And why not be confident when the SBA is offering a new line of credit that can help. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

At least one-third of business owners have widened their job search, according to a recent survey. These companies no longer require a bachelor’s degree for certain jobs, looking more so at the skills the applicants possess to do the role. Gene Marks says smart is smart and there are advantages to eliminating degree requirements. He also dives into the pros and cons of AI in handling some customer service tasks, and why health insurance rate hikes should have businesses preparing for 2025. Listen to the podcast for more details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Earnings growth has shown modest gains for seven months, according to the Paychex Small Business Employment Watch, but the annualized 3.16% gain hovers right around inflation. Gene Marks explains what this could mean to businesses and employees. Business sale prices are up 25%, including a 17% jump in the service industry. Why? Millennials are buying rather than starting, but mainly many older owners are looking for an exit. Then there are those individuals not buying at all but, instead, are shoplifting out of necessity. What might this mean to a small business in terms of cost. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Businesses might want to prepare for Great Resignation 2.0 after a survey revealed that 30% of employees said they plan to quit their jobs by year-end. Why? Poor pay, lack of satisfaction, but Gene Marks points out that there is one “benefit” that can satisfy the dissatisfied Millennials and Gen Xers from the survey. Job seekers are experiencing similar dissatisfaction with employers who are ghost-posting, essentially listing openings that don’t exist. Another survey, this from the retail industry, found that employees have concerns over safety in the workplace. Listen to the podcast as Gene shares insights on how the labor market could be impacted by all of this. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Worker classification is complex and can be daunting for any business to navigate. In this episode of Paychex THRIVE, a Business Podcast, Gene Marks with Administrator Jessica Looman from the Wage and Hour Division of the U.S. Department of Labor the latest changes in regulations. Learn about the economic realities test, key definitions under the FLSA, and the new multifactor analysis approach designed to streamline and clarify these classifications. This episode is a must watch for business owners looking to comply with the latest standards and protect their employees and their business. Topics Include: 00:00:02: Announcement of break and return in September 00:00:37: Episode Preview 00:01:52: Introduction of Administrator Jessica Looman 00:02:40: Jessica Looman’s role and the goal of USDOL 00:03:39: Fair Labor Standards Act and worker protections 00:06:21: New rule on worker classification 00:07:08: Economic realities test for worker classification 00:09:16: Factors for worker classification analysis 00:10:24: Explanation of profit or loss factor 00:12:57: Explanation of integral part of the business factor 00:15:46: Addressing federal, state, and local standards, 00:18:44: Impact of worker classification rules on freelancers and startups 00:20:02: Guidance on freelancers and independent contractors 00:23:32: Understanding business compliance requirements under the rule 00:26:07: Best practices and available resources 00:28:01: Misclassification consequences 00:30:02: Importance of proper worker classification 00:31:14: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The cost of health benefits is rising, but employers say they are prepared to maintain their current employee health plans. Gene Marks shares news about a study that said nearly half of employers surveyed said they would cover the costs, and many would add alternative benefits. That’s good news considering other topics on this week’s episode reveal that 34% of Americans are living paycheck to paycheck. Business owners will also want to audit their websites because a NYC firm is bringing lawsuits against those lacking web accessibility under the ADA. Watch or listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With a multigenerational workforce, understanding the unique needs of each – Baby Boom to Gen Z – is crucial for your business in managing employees, as well as from the standpoint of recruitment and establishing a workplace culture. Host Gene Marks speaks with Diana Scott, U.S. Human Capital Center Leader at the Conference Board about shifting priorities of the new generations, leaning heavily on flexibility and personalized benefits, and how insights on communication can help ensure employee satisfaction across the generations. Watch or listen to Paychex THRIVE, a Business Podcast. Topics Include: 00:00:00: Episode preview 00:01:10: Introducing of Diana Scott 00:01:37: Overview of the Conference Board 00:04:15: What does the U.S. Human Capital Center do? 00:05:36: Research on what employees value 00:06:43: Importance of flexibility in the workplace 00:09:57: Balancing employer and employee needs 00:10:46: Generational differences and workplace culture 00:14:15: Competitive advantages of small businesses 00:16:48: Importance of flexibility for women in the workforce 00:18:51: What is "care washing"? 00:21:39: Competitive benefits such as parental leave 00:22:03: Additional benefits like pet insurance and legal support 00:23:06: Challenges and strategies for recruiting in a tight labor market 00:24:26: Use of AI technology in recruitment 00:26:01: Leadership and company culture 00:27:21: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

We explore the dynamic integration of AI in recruitment and talent solutions, as Operational President Dawn Fay of Robert Half shares her three decades of experience on Paychex THRIVE, a Business Podcast. The episode delves into the significant efficiencies AI brings to the candidate matching process, yet also emphasizes the importance of human interaction in final candidate selection. Host Gene Marks also brings in topics such as unlimited PTO, four-day workweeks, and much more. Topics Include: 00:00:00: Episode Preview 00:01:49: Overview of Robert Half its services 00:02:17: Introduction of Dawn Fay and her background 00:02:55: How recruiting firms help in a tight labor market 00:03:49: Importance of specialization in recruiting process 00:07:04: Benefits of using recruitment firms 00:07:55: Value in using contractors and temporary staffing 00:10:16: Services provided during recruiting process 00:12:00: Ensuring the right fit in hiring and recourse for bad hires 00:13:50: Changes in the recruitment industry over the years 00:14:48: Leveraging AI and technology in recruitment 00:16:18: Key workplace issues – work from home, flexibility 00:18:21: Thoughts in unlimited paid time off 00:19:56: Insights on mental health benefits 00:21:55: Pros and cons of small vs. large companies 00:24:15: What makes an ideal client for a recruiting firm? 00:25:53: Recruiting advice for 2024 00:27:38: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The Paychex Small Business Employment Watch reports that employers keep adding jobs, although the pace is slowing. A report by the National Federation of Independent Businesses shows employers have solid hiring plans but nearly 40% failed to fill open positions – with 85% saying they had no qualified applicants. Another report says businesses are favoring part-time workers, and the U.S. government adjusted its job figures while the Wall Street Journal indicates 90% of those jobs rely on federal involvement. Gene Marks connects the dots for what this means for businesses. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With the U.S. DOL's New Overtime Rule taking effect July 1, FLSA-covered employers across the country are subject to the rule's updated salary thresholds for Executive, Administrative, and Professional white-collar exemptions and HCE employees. The DOL is, however, temporarily restrained from enforcing the rule against the state of Texas, as an employer, after a federal district court issued a preliminary injunction. Tammy Tyler, Employment Law Compliance Manager of Compliance Risk at Paychex, shares insights on the rule and how employers may respond, including how communication and training are essential. Topics Include: 00:00:00: Episode Preview 00:01:00: Introduction of Tammy Tyler 00:01:21: New Overtime Rule in effect 00:01:41: Explaining the new rule 00:04:18: Changes in amount of salary threshold for OT Rule 00:05:40: Salary threshold is aper-week basis 00:06:34: Significant and additional increase to threshold coming Jan. 1 00:07:39: Which employees does this rule actually impact? 00:09:37: Consider a workplace policy on overtime policy 00:11:07: Bonus and other remuneration – what impacts do they have? 00:12:18: Why tracking time for nonexempt employees is crucial 00:13:10: Negative outcomes of noncompliance 00:14:05: Actions businesses can take to ease the transition 00:15:26: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A study from job posting platform Indeed shows that 70% of postings in U.S. this past year did not include years of experience and education. Gene Marks shares insights on this trend, including that on-the-job training seems to be the preference. This episode also looks at the potential of an increased tax on small businesses based on a Supreme Court decision, as well as why Texas, Florida and Wyoming fare better in rankings for businesses than Mississippi and even California. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

American Crane in Pennsylvania is a perfect example of succession planning done right. President and CEO Karen Norheim shares the ins and outs of how the company she co-owns with her sister maneuvered from her late father to his daughters, and how they are now supporting and fostering the third generation. In her conversation with Gene Marks on Paychex THRIVE, a Business Podcast, she talks about the importance of preserving company culture, establishing a family council, being a mentor, and the value of acknowledging emotions at work. Watch or listen to the podcast. Topics Include: 00:00:00: Episode Preview 00:02:00: Introduction of Karen Norheim 00:03:00: What does American Crane do? 00:08:00: Karen's journey joining the family business 00:10:00: Succession planning details 00:12:42: The importance of preserving the company's culture 00:13:23: Creating a family council 00:15:53: Role of expert consultants in success planning 00:18:28: How the family council meeting support success 00:22:35: Transitioning leadership in a male-dominated industry 00:25:18: The importance of mentorship 00:27:45: Shared experience in women's business groups 00:29:02: Finding customers, common ground, and role models 00:32:58: Encouraging the next generation's involvement 00:34:20: Acknowledging and understanding emotions in business life 00:35:51: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Some employers in California can get some financial help to cover the expenses of having workers out on Paid Family Leave under a new grant program that offers up to $2,000 per employee. Gene Marks shares details, as well as spotlights the recent increase of the sales of small businesses – noting that it is an excellent way for the next generation of entrepreneurs to start a business. And getting a restaurant reservation in New York might get a little easier if a law bans bots from saving a place at the table. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

What should an effective recruitment site have to draw interest from the top technology professionals? Gene Marks has a conversation with Art Zeile, CEO of the established recruiting platform Dice to find out more. Zeile shares insights on including culture and other aspects of your company to create a better picture for potential candidates, as well as what the future landscape of tech recruiting might look like and his thoughts on AI. Listen to Paychex THRIVE, a Business Podcast for more. Topics Include: 00:00: Episode Preview 01:11: Introduction of Art Zeile 02:00: What is Dice and what does it do? 04:51: Different approaches to recruiting tech professionals 08:05: Trending jobs on the Dice platform 11:36: Cost structure for using the platform 13:11: Dice developing a free model 15:48: Unique benefits to using the platform 16:35: From Dice user to Dice CEO 18:17: Tips for finding good tech candidates 19:05: Understanding the tech communities' work preferences 21:22: Importance of expressing company culture in postings 22:30: Discussion on AI and its relevance 23:37: Integration of AI in different business functions 25:19: Encouragement on learning AI-related skills 27:01: Dice’s approach to recruiting in future 28:03: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Gene Marks delves into various key topics in this episode. He starts by discussing the impact of the Department of Labor's new overtime rule, effective from July 1. The rule not only adjusts financial thresholds for overtime pay eligibility but also emphasizes fair compensation across industries, urging businesses to align with these new norms. View our on-demand webinar at https://go.paychex.com/OT-rule. Moving on to small business employment trends, Gene highlights an uptick in weekly hours worked but notes a slowdown in hourly wage growth. He also addresses the Small Business Administration's unveiling of a new working capital loan program that provides swift access to working capital through SBA's bank network, distinguishing it from traditional loan offerings. One crucial aspect Gene touches upon is the provision of 401(k) benefits, essential for employee retention and satisfaction. Despite the benefits these plans offer, a significant number of small businesses, particularly those with 1-50 employees, still do not provide 401(k) benefits. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With technology evolving at lightning speed, small businesses are increasingly looking towards artificial intelligence (AI) and automation to streamline operations and foster growth. Irana Wasti, chief product officer at BILL, joins this episode of the Paychex THRIVE podcast to shed light on this trend. She highlights the transformative potential these technologies offer small businesses; allowing them to move beyond the constraints of manual processes to a more strategic, insight-driven approach. Tune in to hear how the pathway to increased efficiency, better decision-making, and ultimately, greater success, can be achieved through the latest technology. Topics include: 00:00 – Episode preview and welcome 01:15 – Introduction of Irana Wasti 03:45 – Irana's experience in SMB technology 04:10 – Emergence of digitalization for SMBs 05:15 – Predictions for outdated technologies and SMBs 06:10 – The challenge of managing digital solutions for SMBs 07:20 – The role of younger generations in technology adoption 08:35 – Meeting customers in their platform preferences 10:13 – The challenge of an all-encompassing business platform 13:08 – Describing BILL's ideal customer profile 16:18 – Justifying the return on investment for BILL 19:50 – The need for real-time data in decision making 20:39 – The relevance of AI for SMBs 21:34 – Business owner concerns about AI 24:16 – How AI can solve integration problems 26:00 – Discussing security and data issues with AI 29:52 – Managing risks and rewards with AI 31:02 – Future innovations in cash flow management with BILL 33:01 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Artificial intelligence is everywhere, so much so that the U.S. Department of Labor issued principles for developers and employers on worker well-being. Basically, as Gene Marks explains, this is a roadmap to create policies that offer protection and benefits in the deployment of AI at work. Why? Well, look at Google rolling back some features after a query pulled in that pizza should be made with glue. Gene notes the tech is new and will get better, much like the small businesses that use AI to gain a stronger hold in the e-commerce world. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

CalpCPA President and CEO Denise Froemming discusses the dynamic shift of the accounting profession and inroads being made to attract the next generation of savvy workers, including how to align the image of what a CPA could be more closely with the values of Gen Z. She shares with host Gene Marks on Paychex THRIVE, a Business Podcast, the reason for rebranding CalCPA, with the aim to become more relatable and modern, as well as to showcase the many different avenues that CPAs can take and how that makes it a more stable profession than many others. Topics Include: 00:00:00: Episode preview 00:01:03: Introduction to Denise Froemming 00:02:10: Changing perceptions on the profession 00:05:35: Opportunities and shifts in the CPA profession 00:09:03: Recruitment and attracting a younger generation 00:11:04: Embracing AI and future technologies in the profession 00:14:51: Connecting with a diverse CalCPA membership 00:17:25: Addressing different needs of CPAs in cities vs. rural areas 00:19:06: Advocacy for members of a state society 00:20:14: Value and relevance of programs to members 00:23:03: Networking, aid for smaller firms 00:24:10: Innovation and digital transformation 00:27:17: Innovative member firms and creating culture 00:28:19: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, Gene is joined by investment guru Lyn Alden, founder of Lyn Alden Investment Strategy. They delve into the complex world of the stock market and examine the tactics needed to make successful investments. From using the traditional 60/40 portfolio model to selecting individual stocks to evaluating cryptocurrency, Lyn offers a variety of comprehensive strategies to help individual investors optimize their returns. Tune in to learn more about how to navigate the intricate dynamics of the stock market with greater confidence. Topics include: 00:00 – Episode preview and welcome 01:01 – Introduction of Lyn Alden 01:23 – The pros and cons of writing a book 05:04 – Discussion about the 60/40 investment strategy 09:33 – Outlook on the 60/40 portfolio’s future 11:27 – Recommendations for stock portfolio makeup 14:08 – Lyn’s personal stock strategy 15:08 – Advice for selecting individual stocks 17:06 – Evaluating companies to invest in 19:02 – Trigger points for selling a stock 21:46 – Using personal experience when making investment decisions 23:55 – The impact of big entities on smaller investors 27:06 – The edge small investors have 28:01 – Discussion on crypto investments 31:31 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Some small businesses have brought a lawsuit against OSHA and its Walkaround Rule, objecting to an inspection policy that they call an overstep onto private property and something that doesn’t advance worker safety. Gene Marks tackles the subject, as well as a new trend called secret PTO by employees and what he calls the foolishness of a proposed six-day workweek. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Calvin Harris has one of the most geographically and economically diverse state accounting professional societies to oversee as CEO of the New York State Society of CPAs. He brings his diverse experiences to the role, emphasizing building relationships and partnerships while stressing key factors such as harnessing and leveraging AI to reinvent the work CPAs do and the roles they can create. He talks on Paychex THRIVE, a Business Podcast, about how to bridge the gap between traditional practices and innovative approaches – including recruitment – and how to appreciate the adaptable nature of the profession while finding balance in your personal life. Topics Include: 00:00:00: Episode Preview 00:01:10: Introduction to Calvin Harris 00:01:29: Some Background on Calvin Harris 00:02:42: Calvin's Love for Funny T-Shirts 00:05:13: Differences Between CFO and CEO Roles 00:06:16: Challenges of Being a CEO - Balance of Costs and Investments 00:08:59: Unique Needs of New York CPAs 00:09:30: Importance of Local Chapters for NYSSCPA 00:14:08: Recruiting for Accounting Profession 00:16:10: Technology’s Impact on the CPA Profession 00:18:24: Changes to the CPA Exam and Requirements 00:21:56: Investing in Yourself and Your Career Path 00:24:42: Future Focus for Accounting Professionals 00:26:00: Using Technology as Leverage in Career 00:27:05: What’s New and Where are the Successes 00:29:11: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With the Dow soaring to a record-breaking 40,000 and the market doubling from its COVID lows just four years ago, the current financial climate is buzzing with potential. Gene is joined by CNN Business Reporter Matt Egan to discuss this and other hot market topics on this week’s episode of Paychex THRIVE. Matt shares the impact a steady rise in the market has on consumer behavior and employment decisions, along with how inflation and interest rates can both help and hinder this growth. Gene also gets Matt’s thoughts on the resurgence of meme stocks, the potential shift towards a four-day workweek, and the possibility of another real estate boom. Topics include: 00:00 – Episode preview and welcome 01:03 – Introduction of CNN Reporter Matt Egan 01:20 – Recollection of market lows during the Great Recession 03:03 – Context around recent stock market highs 04:33 – Discussion on the Dow and its impact 06:04 – Importance of Dow as a market indicator 08:02 – The market as a confidence factor for business owners 11:18 – Discussion on insider trading and its impact 13:00 – Media's influence on the market and the ethics of reporters investing 13:44 – Connection between interest rates and stock market 16:46 – Prediction for future interest rates 17:30 – Business costs in relation to inflation 19:05 – Reflection on the change of inflation over time 19:45 – Discussion on inflation and interest rates 25:17 – Introduction of the four-day work week 28:04 – Return of meme stocks 31:49 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

New York has done what no other state in America has, but what will offering 20 hours of prenatal paid leave to employees – on top of other leave time they are entitled to under the law – mean to employers? Gene Marks has a few thoughts on the topic, including that this might become a national trend. Job openings are down one-third since 2022, but still remain at an historic high. Gene shares his take on what has changed to bring on those results, along with why a major credit card company is trying to reduce the number of cards in your wallet. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

CEO Shelly Weir discovered that her notions of what CPAs were like differed from who they actually are when she came to the Florida Institute of CPAs. Putting aside the “number crunchers” concept, she has leaned into their strategic and critical thinking skills and their people-person approach to help revamp educational efforts to the next generation of accounting professionals. With Florida growing so quickly, the need for quality and specialized CPAs is growing, too, and she details on Paychex THRIVE, a Business Podcast, what FICPA is doing to address this. Weir also shares her take on AI and how it can reshape the accounting profession. Topics Include: 00:00:00: Episode preview 00:01:01: Introduction to Shelly Weir 00:01:29: Background of Shelly Weir 00:05:50: Learnings about CPAs 00:06:17: Qualities of successful CPAs 00:09:07: Specialization in CPA profession 00:12:41: Major CPAs’ specialties in Florida 00:16:03: Unique CPA practices in Florida 00:20:43: Pipeline and recruiting in the profession 00:21:16: National level recruitment challenges and solutions 00:26:59: Programmatic solutions for recruitment 00:28:10: Certification requirements discussion 00:30:59: Impact of work-from-home on accounting profession 00:33:27: Future of Remote Work – a Florida perspective 00:37:21: Future of AI in the accounting profession 00:40:58: Impact of AI in accounting profession 00:42:01: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

This week on Paychex THRIVE, class is in session with Shefali Milczarek-Desai, a distinguished scholar and associate professor of law at the University of Arizona. She joins Gene to explore the complex subject of worker classifications as understanding its intricacies is more than a compliance exercise — it's an operational necessity. Shefali provides insights into recent changes in worker classification regulations, particularly focusing on new rules surrounding independent contractors, bringing attention to their impact on wages, benefits, and protections. This episode also explores the legal and financial implications of misclassification, along with strategies to avoid it. This is one class you don’t want to skip. Topics include: 00:00: Episode preview and welcome 01:22: Introduction of Professor Shefali Milczarek-Desai 05:24: Introduction of worker classification discussion and rule changes 06:57: Explanation of the Fair Labor Standards Act and its implementation 10:52: Navigating the six factors for determining worker classification at the federal and state levels 15:02: Defining independent contractors vs. employees 17:03: Reviewing the Economic Realities Test 20:27: Department of Labor and IRS role in worker classification 22:15: Advice for business owners on navigating worker classification rules 26:25: Consequences of misclassification 28:41: Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Aiysha “AJ” Johnson, CEO and Executive Director of the New Jersey Society of CPAs, says raising awareness at an earlier point in the education process is key to creating a successful pipeline in the accounting profession. The validation of that choice comes when individuals realize the many avenues a CPA can take to help any business in any industry sector grow. She also talks about work credit programs with colleges and firms on Paychex THRIVE, a Business Podcast. Topics Include: 00:00:00: Episode Preview 00:02:03: Introduction to Aiysha “AJ” Johnson 00:03:17: Aiysha Johnson’s Career Path 00:07:25: Overview of NJCPA 00:09:00: AJ’s Role as a CEO 00:12:48: Aligning work for credit program with colleges and firms 00:17:25: Challenges of recruitment in the profession 00:19:00: Approach of pipeline task force 00:22:00: State requirements for certification 00:25:05: Bringing exposure to accounting to younger students 00:28:44: Opportunities for CPAs in other industries 00:32:38: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A revamp of the lending structure has some people praising a more streamlined process to get an SBA loan, while others are mad at the additional complexities involved. Regardless, Gene Marks says SBA loans are still a great way to go for small businesses seeking funding. A study finds that pet bereavement leave has many advantages – recruitment, though? Yes, Gene says with so many pet owners, providing this low-cost benefit can draw talent in and help keep them. And why has Gen Z looked to the trades? Lower cost in obtaining education and certification, not to mention earnings potential. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, U.S. Senator Todd Young (R-Indiana) joins host Gene Marks to discuss the role of lawmakers in fostering AI innovation, its security, and risk mitigation. Senator Young dives into the bipartisan AI policy work he’s currently conducting in the Senate; sharing how this collaborative approach and thoughtful legislation can support the evolution of AI technologies. He also highlights financial mechanisms policymakers are using to stimulate innovation, specifically touching on the R&D tax credit and the impending reforms that are designed to help American business owners develop a thriving future economy. Topics include: 00:00: Episode preview and welcome 01:23: Introduction Senator Todd Young (R-Indiana) 02:22: Role of legislation in AI 04:13: Steps towards AI legislation 06:02: Discussion about qualification to regulate technology 09:32: Introduction to the Future of AI Innovation Act 12:16: Implications of AI on learning 14:14: Explanation of the R&D tax credit and its impact 16:13: Proposed reforms to the R&D tax credit 20:07: Comparison of U.S. R&D tax provisions to other different countries 21:29: Importance of the R&D tax credit to non-tech sectors 24:29: Upcoming tax and election year issues 27:02: Paying for expanding tax provisions 30:08: Bipartisan tax agreement possibilities 32:15: Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A nearly two-year trend in deceleration of hourly earnings growth ends as the Paychex Small Business Employment Watch shows a 3.34% increase in April. Gene Marks highlights other data from the report that business can use. One thing businesses are using more of is credit cards, and Marks says that if done properly, that’s OK, especially with high interest rates for loans. And you’ll be surprised at the percentage of employees who would rather work for a small business, according to a survey. Gene shares insights why this might be the case. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.