THRIVE, a Paychex Business Podcast

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.

On this episode of Paychex THRIVE, distinguished labor economist and Harvard professor Dr. Richard Freeman joins host Gene Marks to navigate the future of work in an era of rapid technological advancement. With the rise of artificial intelligence (AI) and significant shifts in labor economics, the debate around employee ownership becomes more relevant. Dr. Freeman paints a compelling picture of a future where workers share the fruits of innovation and are not left behind by technological advancements. Tune in as he encourages listeners to consider employee ownership structures to boost productivity, foster a sense of shared investment, and ensure equitable distribution of AI-induced wealth. 00:00: Episode preview and welcome 01:34: Introduction of Dr. Richard Freeman 02:19: Discussion on AI’s impact on labor 07:06: AI as a potential solution to global problems 10:29: History of job replacement by technology 11:35: Impact of AI on jobs and opportunities 15:12: Discussion on employee ownership 18:15: The benefits of employee ownership 21:00: The tax advantages of employee-owned businesses 22:04: Possible reasons for low growth in employee ownership 24:51: Differences between ESOP and other forms of ownership 27:32: Historical perspective on American democracy and work 28:38: Richard’s ideals ownership scenario 34:15: 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.

Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses might approach prior to the rules going into effect. 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.

Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues with recruiting and retaining talent. Cryder’s conversation with Gene Marks on Paychex THRIVE, a Business Podcast, sheds some light on how her state association is addressing issues of modernization through AI, professional development, and rethinking the business model firms have used for decades. Topics Include: 00:00:00: Episode Preview 00:00:54: Introduction of Jennifer Cryder 00:02:12: Challenges facing CPA profession 00:03:24: Examples of challenges, including talent acquisition 00:04:43: Future of CPA firms and the advisory role 00:10:11: What’s happened to the small, local firms? 00:13:26: The value a CPA can offer 00:16:35: Recruiting challenges in the CPA profession 00:19:18: Initiatives For Retaining Good Talent 00:23:09: Metrics and job evaluation 00:27:18: Advice on collaboration with CPAs 00:30:57: 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.

Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting businesses. They also discuss strategies around integrating AI-driven insights with human expertise. Topics Include: 00:00: Episode Preview 00:01:01: Introduction of David Autor 00:01:40: Autor’s background 00:03:32: Discussion on industry dynamics 00:03:51: Impacts of AI on labor markets 00:08:33: AI and decision making in various industries 00:09:37: AI and skills re-evaluation 00:11:19: Skills needed for future with AI 00:15:19: AI's current potential 00:17:16: Long-term impact on labor markets 00:18:17: Discussion on potential disruptions of future technology 00:23:16: Discussion on minimum wage debate 00:29:45: Current state of workforce after pandemic 00:33:24: 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.

Looking to start a business? The trend is to buy a business rather than start from scratch, and a recent report shows small-business acquisitions up 10% from the previous year and 3% in the last quarter. Some experts say new borrowers are accepting high interest rates as normal. And if you’re opening a business, another survey found Ohio has all the factors to make it the top spot to start. Gene Marks also shares his insights on the constant tipping and its impact. Watch 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.

President and CEO Emily Williams Knight helped guide the Texas Restaurant Association and its tens of thousands of members through the COVID-19 pandemic and continues to advocate for legislation that will help restaurants thrive. She shares stories about the industry association’s efforts on Paychex THRIVE, a Business Podcast, to educate and benefit members, as well as her thoughts on why transactional tipping is bad, swipe fees, too, and how getting a childcare initiative established and fostering the second chance hiring initiative will be key to sustaining growth of this billion-dollar industry. Topics Include: 00:00:00: Episode Preview 00:01:25: Introduction to Emily Williams Knight 00:01:55: The pandemic's impact on the restaurant industry 00:03:14: Impact of pro-business policies during a pandemic 00:06:35: Changes in the restaurant industry post-pandemic 00:08:47: Mission of association as state’s largest private employer 00:11:52: Value of being an association member: education and a voice 00:13:40: Crucial topics and demands within the restaurant industry 00:16:15: Discussion about regulatory measures and compliance 00:16:58: Discussion about tipping policies in the restaurant industry 00:17:18: Discussion on transactional tipping 00:18:07: Importance of experiential tipping 00:21:37: Discussion on swipe fees 00:25:26: Shrinkflation in the restaurant Industry 00:28:01: Minimum Wage Discussion 00:31:07: Child care crisis solution initiative 00:32:53: Second chance hiring initiative 00:34:52: 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.

Who wouldn’t take an 88.5 on a test? It’s passing. Sadly, the National Federation of Independent Small Businesses Optimism survey isn’t a test – and 88.5 is not great. In fact, it is the 27th straight month that the survey has shown less than optimistic results. Gene Marks takes a look at what might be causing the steady dip, plus he talks about how employers have to prepare for the pending OT rule. Not everything is gloom: Women-owned businesses are thriving out West. 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.

Cathy Engelbert has shattered a few glass ceilings in her career – first woman CEO of Deloitte and first WNBA commissioner – while still battling the gender imbalance in leadership roles. She shares her journey with Gene Marks on Paychex THRIVE, a Business Podcast, starting with her formative years, her decision to be a working mother while striking work/life balance, the mentorship she received. She also talks about confidence gaps, programs to foster the advancement of women, and the advice and guidance she gives her own daughter. Topics Include: 00:00:00: Episode Preview 00:01:22: Introducing Cathy Engelbert 00:03:15: Inequality in the Mid-80s Working Environment 00:04:28: Role as a Representative for Women in Business 00:07:05: Challenge of Retaining Women in the Workforce 00:10:01: Value of Role Models and Mentors 00:12:32: Being an Unexpected CEO 00:15:00: Strengths Women Bring to the Workplace 00:16:24: Reflecting on Women's Confidence Growth 00:18:26: Challenges in Encouraging Women to Leadership Roles 00:24:22: Balancing Work, Family and Personal Passions as a Female Leader 00:27:24: Pivoting from Deloitte to Lead the WNBA 00:29:13: Advice for the Young Generation on Navigating Careers 00:33:21: 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.

If you’re in the Midwest, job prospects have ticked up slightly – the first increase in 2024 – and every region has seen growth in all but one industry, according to the Paychex Small Business Employment Watch. Gene Marks also highlights a study on manufacturing that points to a massive gap in the next decade of qualified and trained workers, especially regarding digital skills. He stresses that businesses can get potential tax credits and funding for training to help. And all eyes are on California to see how a proposed bill to allow some employees to disconnect from work during off hours proceeds. 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.

Kent Smetters has experienced public policy on the economy from inside and outside the federal government. The economist and Wharton school professor helps us explore the use of economic modeling in influencing public policy and examines the potential impact of fiscal challenges and tax legislation changes. He joins Gene Marks on Paychex THRIVE, a Business Podcast, to talk about the many factors impacting economic growth, and how educating the current and next generation of executives can equip them to make more informed decisions on the economy. Topics Include: 00:00:00: Episode preview 00:01:14: Introduction of Kent Smetters 00:03:12: Changing dynamics of MBA candidates 00:05:19: The many hats of an economist 00:06:07: Working with policymakers on economic impact analysis 00:07:04: Discussions on upcoming tax provisions 00:08:02: Balancing the cost of capital and national debt 00:08:38: Influence and work process of Wharton on legislation 00:19:39: Importance of honest broker analysis in policy decisions 00:22:16: Strategies for integrating more STEM personnel into our economy 00:23:29: Discussion on U.S. fiscal situation and debts and deficits 00:25:05: Projection of unsustainable debt level in U.S. 00:26:03: Hiking taxes and spending cuts only solution for deficit 00:27:07: Consequences of spending cuts on Social Security 00:28:13: Concerns about current approach in U.S. of dealing with crises 00:29:16: Effect of inflation on wealth over time 00:32:17: Implications of printing more money 00:35:06: 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.

Fast-food restaurants with a national footprint gain an exemption via the law as California raises its minimum wage. Gene Marks discusses the issues this could cause, but also says the state could be a model for others if its works. He also takes a look at a new Bank of America portal that streamlines the process by connecting access to funding sources, and he just can’t get over the fact that a bellwether for the check on inflation has changed. Gene offers his two cents on a four-cent increase of the price of bananas at Trader Joe’s. Check out 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.

What’s the economic outlook of the United States and what factors influence it? Columbia professor Brett House takes a deep dive focusing on growth rates, immigration, free trade, tariffs, deficits and much more – and how these impact small businesses as much as large corporations. Gene Marks and Brett discuss NAFTA, foreign markets, and other policies that will make an impact in 2024. Topics Include: 00:00:00: Teaser quote 00:01:07: Introduction of Brett House 00:04:21: Examination of the global macroeconomics 00:07:42: Why UK’s Brexit doesn’t work 00:09:45: Courses House teaches and application on global macroeconomics 00:13:25: NAFTA and why it has succeeded 00:15:04: Thoughts on digital currencies 00:18:36: What do tariffs actually do? 00:23:00: Why doing business in the U.S. is wise 00:24:30: Economic recovery and role of government 00:25:43: Perspective on deficits 00:27:24: 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.

Employers who want to retain good employees might have to buy them comfortable cushions for their long commute to work. Seems super-commuting – traveling distances of up to 300 miles one way per day – is becoming popular. Gene Marks offers a few tips on how to manage this trend. He also puts on his CPA hat to warn against scammers grabbing your data from public records to steal any potential tax refund. And even the latest employee-preferred benefit is a shock: coverage for weight-loss drugs. They’ve done surveys and the numbers don’t lie. 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.

What would you think about working one less day and 8 fewer hours each week plus be eligible for overtime pay on a daily basis and benefits? It’s been introduced in the U.S. Senate, but Gene Marks shares a similar view as its detractors – it would crush small businesses, who have also seen their contracts with the U.S. government fall by one-third over the past decade because of restrictive regulations and legislation. Any thoughts on data collection auto insurers? Gene shares insights on why he isn’t opposed. 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.

Actor, producer, recording artist, and entrepreneur Queen Latifah shares on this episode of Paychex Thrive, a Business Podcast, what she feels are the biggest challenges facing millions of women-owned businesses. She comments on the disparate funding from venture capitalists that direct less than 5% of all dollars to women-owned businesses and to the lack of recognition for women already in powerful positions. She advises women to keep up the fight, but also to ensure they are practicing self-care and living in the moment. Topics Include: 00:00:00: Episode Summary 00:00:35: Welcome 00:00:50: Introducing guest Queen Latifah 00:01:53: Lenovo's Evolve Small campaign 00:04:24: Funding and other issues women-owned businesses face 00:06:41: Advice for women entrepreneurs 00:08:02: Support for women in business 00:10:35: Importance of self-care 00:11:40: Women are present, they need to be recognized 00:13:34: Drawing inspiration 00:16:45: Living in the moment 00:19:50: Women in higher places need to be accountable, too 00:21:30: Equal Pay for women 00:22:40: Channel setbacks into something positive 00:25:01: Aspiring for a better world 00:25:59: Wrap-up, 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 gig might be up for gig workers. The DOL’s independent contractor worker classification rule went into effect March 11 and businesses using 1099 workers need to reclassify individuals properly – and possibly make them employees – to stay compliant. Gene Marks says it’s going to create some havoc before it’s all sorted out, including potential challenges in court. Small businesses did get a win when the SBA announced an improved Lender Match tool that will make the funding search easier. And Gene advises Millennials to buy businesses from retiring baby boomers amid a generational wealth transfer that could be in the $90 trillion range. 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.

After nearly a quarter century in the restaurant and hospitality business, Jeanne Cretella has seen major swings, and the President of Landmark Hospitality shares her thoughts with Paychex THRIVE, a Business Podcast, on what works and what doesn’t in the industry. Cretella says restaurants and hospitality should always be about service, and that eliminating tipping and proposing steep minimum wage hikes will kill the industry. She tells Gene Marks that building a culture is critical, how the industry still is great as a career path, and why joining an industry association can help your business stay out of compliance hot water. Topics Include: 00:00: Opening preview 00:01:31: Introduction to Jeanne Cretella 00:02:15: Jeanne's journey with Landmark Hospitality 00:05:19: Employment opportunities in the restaurant industry 00:07:07: Restaurant industry as a potential career path 00:11:21: Importance of instilling company culture 00:14:08: Employee recruitment 00:17:27: Thoughts on the four-day work week 00:20:15: Industry trend – flexibility in workplace 00:21:37: Tipping in restaurants 00:26:09: Minimum wage increase in fast-food industry 00:29:04: Surcharges for using credit cards 00:34:04: The importance of participating in industry associations 00:34:59: 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.

As the economy moderates, so too is job growth. Gene Marks offers some insights as to what the data from the latest Paychex Small Business Employment Watch is showing business owners. Fast-food restaurant chain Wendy’s announced the testing of dynamic pricing and customers weren’t happy, so Wendy’s flipped. Is dynamic pricing the future pricing model? How do you feel about a personal escort while shopping? One hardware store owner floated the approach to combat the spike in shoplifting, but Gene says there might be hidden costs. 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.

Business owners cannot wait until AI is full-proof or they will be out of business, according to longtime technology journalist, author, and business owner Kara Swisher. Businesses need to get comfortable with what AI is doing now and can do for them, and then be adaptable as it changes. Swisher speaks with host Gene Marks on Paychex THRIVE, a Business Podcast, about the ever-changing business-tech landscape, including why AI is a tool and should be treated as such, how some social platforms are better than others for digital ad ROI, why security is almost nonexistent and the government allowed it, and much more. Topics Include: 00:00: Episode Preview 01:32: Introduction to Kara Swisher 03:10: Discussion about Kara's new book on tech 07:24: Transition from being a journalist to a business owner 09:55: Insights on contracts and work relationships 11:01: Marketing insights on social media 21:26: Tech is a tool and still adapting 24:39: Security and privacy in tech 26:13: Need for stricter data regulation 28:00: Discussion on Augmented and Virtual Reality devices 32:01: Why Climate Change Tech would be a good job 34:38: 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 recent survey finds that while the majority of small business owners are in favor of a minimum wage hike, half of respondents also feel that an increase would negatively impact their businesses. Host Gene Marks understands this paradox and explains why business owners would have these contradictory opinions. Gene also touches on the new workplace phenomenon called coffee badging and why one CEO isn’t opposed to this practice, as well as a new editorial in the Wall Street Journal that cautions against the slippery slope of new unrealized gains taxes 10 states are currently flirting with. 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.

Claire Jarrett is a businesswoman, author, and expert on digital marketing, and she says that data tracking is crucial to understanding how to craft your online ads, messaging, and campaigns. Gene Marks chats with Jarrett on Paychex THRIVE, a Business Podcast, about keywords, industry tools, consumer behavior, the shift on cookie tracking, and much more, and shares insights and ad-building tips that could help your business achieve success with its digital marketing efforts. Topics Include: 00:00: Episode Preview 01:08: Introduction of Claire Jarrett 02:37: Impact of change with cookies and tracking 05:39: Difference between advertising on Google and YouTube 07:27: Advice on tools to help create ads 09:27: What is a keyword and a negative keyword? 11:47: Behavior and why consumers click on ads 13:30: Tips on writing an effective digital ad 14:43: Different types of digital ads 15:38: What is a retargeting campaign? 17:35: What makes a good landing page? 19:27: Why testing ads is important 21:09: Verifying data through independent tracking 26:27: Jarrett Digital’s approach to clients and consulting 28:24: Impact of AI on future of digital marketing 30:00: Identifying the perfect client? 31:00: 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 new law takes effect in New York state that requires businesses to be transparent about credit card surcharges while also capping what businesses can charge patrons who use credit cards. Host Gene Marks says he favors this approach and shares insights on this and a few other news items, including the potential expansion of Paid Family Medical Leave in New Jersey and Pennsylvania to include small businesses, and the push for the creation of emergency savings accounts for employees. There are a lot of complexities being created and Gene explains why. 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.

In today’s ever-changing business landscape, understanding the economy, national debt, and their impact on your trade is a crucial tool. On this episode of Paychex THRIVE, former Federal Reserve economist, Bloomberg columnist, and founder of Sahm Consulting, Claudia Sahm, offers valuable insights to help listeners navigate the complexities of the U.S. economy. She discusses its key aspects, ranging from the role of treasury securities and national debt to the impact of fiscal policies on national economic health. Learn about the unique credibility of U.S. debt securities and how international demand for these assets bolsters the nation's ability to manage its rising national debt sustainably. Topics include: 00:00 – Welcome Claudia Sahm 01:14 – Introduction to Claudia Sahm's background and work history 03:14 – Discussion on the U.S. economy and national debt 04:36 – Importance of focusing on tax and spend policies 06:58 – Claudia’s perspective on the sustainability of government deficit 09:13 – Considerations for future economic policies 11:31 – Discussion on the size of the federal government as it relates to the national debt 13:03 – Importance of reliable government data 14:02 – Claudia’s advice on utilizing data in decision-making 16:02 – Importance of regional and industry-specific data 17:31 – Key metrics to track for understanding the economy 19:15 – The influence of the labor market and consumer spending on the economy 20:25 – Weighing government data against private sector data 21:20 – Discussion on data sources 23:50 – Economic forecast for the near future 28:41 – Influence of presidential elections on the economy 32:23 – Wrap up 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.

Unless you’re Taylor Swift, working for Taylor Swift, or dating Taylor Swift, your business might not be doing as well in the marketplace. At least that’s what recent numbers show, with job vacancies open but 14% of small-business owners indicating they aren’t hiring over the next three months. Gene Marks takes a look at a recent report, plus shares some poor productivity numbers following the Super Bowl and the astronomical economic impact you could experience if you hitch your business in any way shape or form to Taylor Swift’s concerts or her favorite NFL team. 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.

Businesses in New York state and New York City have tremendous opportunities presented through Empire State Development, the economic development arm of state government that provides support to small businesses and helps implement initiatives. President and CEO Hope Knight chats with host Gene Marks on Paychex THRIVE, a Business Podcast, about how the funding works for training and workforce development, available tax credits, and the push for film industry and biotech industry advancements in the state. Topics Include: 00:00: Opening 01:06: Introduction of Hope Knight, CEO of Empire State Development 02:48: What is Empire State Development 04:17: Programs available for small businesses through ESD 05:01: What is the State Small Business Credit Initiative 07:22: Where is the focus of ESD funding 10:25: What industries is ESD focused on for funding and workforce development 14:13: How funding flows to programs that provide training and distribute funds 17:33: Benefits to hiring the formerly incarcerated 22:14: Available tax credits for hiring formerly incarcerated 24:09: Specific programs aimed at film industry in New York City 25:33: Opportunities around biotech industry in central New York 26:48: 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.

Data from the Paychex Small Business Employment Watch shows job growth continues strong and hourly wage growth is also up. Gene Marks shares insights on how employers can use this data to their advantage. Legislation to extend the research and development tax credit at the expense of the employee retention credit passes one chamber of Congress. The SBA rebrands a crucial program to make it more accessible, including adding training that might boost the percentage of businesses that successfully obtained a federal contract and a key revenue source beyond the 60% from 2023. 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.