THRIVE, a Paychex Business Podcast

Businesses throughout the United States have been forced to navigate an array of unprecedented challenges throughout the past few years. As we look towards the approaching new year, what can we expect to see in 2023? On this episode of Paychex THRIVE, CNN reporter, Matt Egan, talks with Gene Marks about the economic outlook of 2023. Hear what he had to say about consumer spending, a possible recession, interest rates, inflation, and more. Topics Include: 00:49 – Introduction to Matt Egan 01:49 – What to expect for the holiday season 02:44 – Consumer spending in today’s economy 04:35 – Buy now, pay later trend 08:00 – Are we headed into a recession 11:32 – The challenges within the tech sector 14:16 – State of the housing and construction industry 17:08 – The rise in interest rates 19:03 – Thoughts on inflation in 2023 23:38 – Expected news on small businesses in 2023 26:22 – A positive outlook for next year 28:00 – Wrap up Hear more about the impact of rising inflation at www.paychex.com/worx/podcasts/business/economy-and-rising-inflation. Get some tips on how to offset the current financial landscape at www.paychex.com/worx/podcasts/business/interest-rates-rising-think-long-term-loans-money-management. 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 episode of the Week in Review, Gene Marks says he thinks the lame duck Congress might actually move the needle on retirement and tax legislation – and that’s a benefit to businesses. The many bills on retirement could become SECURE Act 2.0, leading to additional tax credits and incentives. Plus, extending the research and development tax credit is on the table. 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.

Robotics and automation are becoming increasingly important in our everyday life. The same goes for businesses, including those in the restaurant industry. CEO of Miso Robotics, Mike Bell, is talking with host, Gene Marks, about the how his company is bringing robotic solutions to an industry that is struggling to fill positions – the restaurant industry. Listen in as Bell talks about the customization of robotic solutions, the impact on workers, and how other industries are using similar technology. Topics Include: 00:19 – An introduction to Miso Robotics 03:49 – The interest from restaurants 06:07 – How Miso customizes across brands 07:56 – Issues to be aware of with robotic solutions 10:15 – Maintenance of robotic solutions 12:37 – Independent vs. chain restaurants 15:28 – The impact of robotic solutions on workers 20:44 – Robotics in other industries 22:22 – What’s next for Miso Robotics 23:07 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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 inflation nearing 8 percent and some industries reporting costs for materials much higher than that, the thought that a new yet divided Congress might have a tough time fixing this. However, Gene Marks points out that people’s spending habits don’t match the doom-and-gloom economy that many say the country is in. He shares his insights in this week’s 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.

As the economy begins to slow down, many companies may be forced to turn to employee layoffs, now and in the future. Hear from Lenny Feigel, labor and employment attorney at Foley & Lardner LLP, about what you need to consider. Find out why it’s so important to plan, how to select where your layoffs are going, what companies are offering in terms of separation and severance pay, and much more. Topics Include: 00:19 – Introduction to attorney Lenny Feigel 02:03 – Having a good relationship with a labor attorney 02:53 – The importance of planning when considering layoffs 05:04 – Selecting where layoffs are going 06:47 – What to consider to avoid claims of discrimination 09:11 – Should layoffs be based on performance reviews? 10:28 – What companies are offering in separation and severance 13:20 – Strategy for layoff timing: do it immediately or give time? 13:42 – The Worker Adjustment and Retraining Notification Act 15:50 – The importance of a separation agreement 19:30 – Big takeaways 20:39 – Communicating with employees that are being retained Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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 won’t know the makeup of Congress for another month following the mid-term elections, but a slim majority for either party primarily will result in few big pieces of bi-partisan legislation. Gene Marks takes a look at a handful of potential outcomes on where the government will spend its money, who might benefit, and some other issues such that will impact businesses. 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.

The Equal Employee Opportunity Commission (EEOC) is the primary federal agency in charge of enforcing the employment discrimination laws in the United States. On this episode, Gene Marks is talking with Vice Chair of the EEOC, Jocelyn Samuels, about what small businesses need to know about the agency, including the importance of understanding discrimination laws, how being an inclusive workplace is good for business, why you should have anti-harassment policies in place, and much more. Topics Include: 00:14 – Introducing Jocelyn Samuels 00:51 – Introduction to the EEOC 02:09 – Why is the EEOC important to employers? 05:25 – Inclusive workplaces are good for business 07:13 – Hot topics employers should be aware of 08:04 – Businesses that are exempt 10:05 – Having anti-harassment policies in place 11:28 – Being aware of retaliation 13:00 – Discrimination and technology 16:56 – AI-based software and biases 21:36 – How employees can report to the EEOC 27:37 – The impact of remote work on discrimination 32:59 – The EEOC is there to provide support 35:35 – Wrap up Read more about harassment in the workplace at www.paychex.com/articles/human-resources/understanding-harassment-in-the-workplace. Learn about some recent resources the EEOC has created related to sexual orientation and gender identity discrimination at www.paychex.com/articles/human-resources/eeoc-resources-sexual-orientation-discrimination. 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’re kicking off Season 4 of Paychex THRIVE, a Business Podcast, with Congressman Ben Cline from the sixth congressional district in Virginia. Listen in as host Gene Marks talks with Rep. Cline about his proposed legislation, the Small Business Regulatory Flexibility Improvement Act, which is designed to help small businesses understand and comply with new regulations. Hear what inspired this bill, where the legislation currently stands, and how Congressman Cline hopes to help small businesses in the future. Topics Include: 00:15 – Introduction to Congressman Cline 00:36 – The Small Business Regulatory Flexibility Improvement Act 03:16 – What inspired this bill? 05:30 – Where does the legislation stand? 09:25 – What will Congressman Cline do for small businesses? Read more about the regulatory issues facing businesses at www.paychex.com/newsroom/news-releases/compliance-topics-related-covid-19-pandemic-top-regulatory-issues-facing. 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. Department of Labor’s recent proposed new rule, businesses might have to make some adjustments if independent contractors are reclassified. It could change how your business pays taxes, as well as increase your costs if these individuals must be treated as employees. Listen to our THRIVE Week in Review with Gene Marks podcast. Learn more about tax forms for independent contractors at www.paychex.com/articles/payroll-taxes/filing-taxes-for-independent-contractors 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.

Bonus episode: Cybersecurity – it’s not just for big businesses. In fact, small businesses are often prime targets for cyber-attacks. On this episode of THRIVE, a Paychex Business Podcast, you’ll hear from Kristin Harper, Manager of Operations Security at Paychex, as she talks to Gene Marks about what you should know and what you can do to protect your company from cyber criminals. Topics Include: 00:19 – Meet Kristin Harper 00:58 – Kristin’s job as Manager of Operations Security 02:49 – Cybersecurity in small business 04:39 – User education to prevent cyber crime 06:05 – What is phishing? 06:57 – Smishing: SMS phishing 09:54 – The rise of social engineering 10:46 – The impact of malware 11:59 – What to do to lower the risk of an attack 14:06 – Cybersecurity and remote employees 15:36 – Securing your home network and your software 17:38 – Should you be using security software? 19:30 – Cyber insurance Find out more about cyber security as it relates to business at www.paychex.com/articles/management/cyber-security-and-a-secure-business. Read more about the importance of cyber liability insurance at www.paychex.com/articles/human-resources/cyber-liability-insurance-why-your-business-needs-it. 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 unemployment rate is at a 50-year low but there are still more than 10 million open jobs. That’s going to create competition for talent. Use every resource available, including the federally funded Work Opportunity Tax Credit, which can either reduce your income tax or payroll tax if you hire certain types of candidates such as military veterans or the long-term unemployed, to name a few. Host Gene Marks details some of the perks of WOTC in this week’s episode. Listen to the podcast. Other resources Instructions on Certification Process for WOTC 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 projected increases expected for workplace health plans, you have options to help manage the costs; health savings accounts, health reimbursement accounts or level-funded plans. Your business can even contribute more to employee health insurance costs and take a deduction. Gene Marks provides some insights that can help your business. Listen to the podcast Other resources HRA vs. HSA: Which is better to Offer Employees 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 Hurricane Ian, host Gene Marks shares some insights on how businesses across the country are not immune to natural disasters and should consider a business continuity plan. Having a chain of communication and a way to pay your employees on time are just two ways to get your operations up and running quickly in the event of interruption. Listen to the podcast. Other Resources: usa.gov: Contains website links to helpful information (funding, health and safety, and more) sba.gov: Eligible areas and the types of available disaster loans irs.gov: Impacted Florida businesses qualify for extended tax deadlines 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 we close out season 3 of THRIVE, Gene Marks talks with Jeremy Bilsky, Senior Director and General Manager of Advance Partners about the current state of the staffing industry and how finding good talent is harder than ever before. Hear what Jeremy had to say about topics such as temp-to-hire versus direct hire, redefining employment, the impact of remote work on staffing, and much more. Topics Include: 00:19 – An introduction to Advance Partners 03:14 – Staffing temp-to-hire vs. Direct hire 06:10 – Staffing independent contractors 07:55 – Redefining employment 12:00 – How staffing firms have done this year 15:57 – The impact of remote work on the staffing industry 19:05 – What Jeremy has learned over the past 19 years 24:23 – Jeremy’s insights on negative cash flow 27:52 – How the company provides financing 32:19 – The process for bringing on workers 33:20 – The importance of average days to pay 40:34 – The impact of rising interest rates 45:57 – Advice for those in the service industry Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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 interest rates going up another 75 basis points, and another increase expected, businesses are going to find loans and financing more expensive to secure. Gene Marks offers a few tips, including paying down credit card debt or looking to high-yield checking or money market accounts to let your money work for the business in the short term. 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 recently passed legislation, California is looking to improve regulations and rules for the fast-food industry. That’s why when it comes to policy changes in the fast-food industry, the state of California is turning to employees, employers, and other key stakeholders. Listen in as David Madland, Senior Fellow and Senior Advisor at American Worker Project for the Center for American Progress, talks with host Gene Marks about how this new legislation is working to raise standards in the industry, who will be the key stakeholders providing their voices on policy, how it will impact labor and labor costs, and so much more. Topics Include: 00:20 – The Center for American Progress 01:41 – An introduction to David Madland 02:30 – New legislation in California for fast food industry 04:13 – The sectoral council’s impact on setting policy 05:20 – Providing stakeholders with a voice 06:49 – Who is a part of this committee? 08:10 – What are the concerns surrounding this legislation? 09:39 – Raising standards in the fast-food industry 12:55 – The possible impact on labor and labor costs 17:03 – Targeting big businesses or small businesses? 19:12 – Spillover effect to other industries? 22:16 – Outside the United States Hear more about this new legislation out of California and its impact on the fast food industry.

With the U.S. Energy Information Administration forecasting a 16 percent increase in energy costs in 2023 – higher for some regions such as New York state that could see a 124% increase – businesses should control what they can. Gene Marks offers a handful of tips, some as simple as changing light bulbs, to help businesses prepare. 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.

Despite the Great Resignation, startup businesses are booming. Why is this? Stephanie Gorski, Strategy Managing Director/Partner at Accenture has some thoughts. Listen in as she talks with host Gene Marks about the recent study from Accenture, the changing business owner demographic, and more. Topics Include: 00:20 – An introduction to Stephanie Gorski 01:37 – Small businesses are not enterprise businesses 05:28 – Accenture’s study on startups 07:54 – How startups came to be during COVID 10:33 – Giving your employees the opportunity to pursue passions 13:35 – Would COVID have had the same impact 10 years ago 15:07 – What factors hold people back from starting up businesses 17:18 – The unglamorous side of starting up a business 18:27 – How this data will be helpful to businesses 20:08 – The changing demographic of new business owners 22:34 – Stephanie Gorski’s passion Thinking about starting a business? Learn what you need to know before you do at www.paychex.com/articles/startup/things-to-know-starting-business. Use this start-up guide to play your new business. www.paychex.com/secure/whitepapers/plan-your-business. 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 a survey revealed that 54 percent of small businesses expect their revenue to increase in 2023 despite inflation, host Gene Marks takes a look at ways to accomplish this. He offers several tips on using a Customer Relationship Management system, communicating with customers, and focusing on forecasting. 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 is on the minds of small business owners? That is what Microsoft went out to find in their Small Business State of Mind study. On this episode of THRIVE, a Paychex Business Podcast, host Gene Marks is talking with Travis Walter, Microsoft Stores Vice President of Retail. Hear what he had to say about what this study found, including the impact of Generation Z, navigating inflation issues, why cybersecurity should be at the top of your mind, and more. Topics Include: 00:29 – Introduction to Travis Walter 01:56 – The Small Business State of Mind report 02:17 – The emphasis on Gen Z 04:47 – Biggest threats to small businesses 07:33 – Navigating inflation issues 09:25 – The importance of using the services you have 12:47 – Cybersecurity risk for small businesses 14:41 – The new startup trend 18:11 – The most popular Microsoft products Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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.

California could be trendsetting or setting up businesses for more challenges with the signing of a law that regulates the fast-food industry. A council would have the power to increase the minimum wage and change safety standards. It gives employees a seat at the table. It gives all businesses something to consider. In this week’s episode, Gene Marks discusses the pros and cons. 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.

Starting, building, and growing a business can be very exciting and rewarding, it can also be very isolating. That’s why it’s so important to connect with your customers and other business owners to create communities to learn, share, and build relationships. On this episode of THRIVE, a Paychex Business Podcast, Gene Marks is talking with Rebecca Michals, Director of Community Engagement at eBay about the importance of community involvement. Whether you’re an eBay seller or just a business leader, you’ll want to hear what Rebecca had to say about the importance of sharing your passions with others, using fellow business owners as a support system, communicating with customers, and more. Topics Include: 00:37 – Rebecca Michals and her position at eBay 03:32 – How eBay sellers can connect with each other 04:19 – Forum moderation 05:24 – Why sellers participate in the eBay community 07:26 – Opportunities for sellers to connect face-to-face 09:23 – Content and training through eBay Academy 12:03 – Using email to provide information and content 13:25 – Building a community with your customers 17:48 – How eBay is helping sellers have access to capital Creating a community can help you connect to your buyers, find out other ways to build customer relationships at www.paychex.com/articles/management/microbusinesses-build-customer-relationships. 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 survey by the Society of Human Resource Management found that there was a significant decline in the percentage of companies offering paid parental leave and even paid paternity leave. Host Gene Marks shares insights on some of the challenges that could explain this change, but offers several tips as to how take advantage of the benefits of offering a program, including tax credits. 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.

Finding, hiring and retaining the right talent has rarely been more challenging or important. As part of its commitment to simplify HR for America’s businesses, Paychex has partnered with Indeed, the #1 job website, to help businesses increase the visibility of their job openings and speed-to-hire. On this episode of THRIVE, a Paychex Business Podcast, host Gene Marks is talking with Executive Vice President and General Manager of Indeed, Raj Mukherjee, about how businesses can set themselves up for success and find the right talent. Hear what he says on how to stand out to potential employees, starting with a hiring process and recruitment process, hiring through employee referrals, creating a diverse workplace, salary transparency, and much more. Topics Include: 00:14 – Episode introduction 01:38 – And introduction to Indeed 02:50 – How Indeed sets itself apart 04:09 – The cost of Indeed 06:06 – Hiring through employee referrals 09:03 – How Indeed helps you diversify your workforce 11:41 – Why Indeed is great for small businesses 13:40 – How a job description can set your posting up for success 15:42 – Salary transparency in job postings and how Indeed helps 17:39 – Lean in into your brand culture 19:21 – Assessing candidates’ skillsets 20:37 – The future of hiring with AI other technologies Resources: Learn more about recruiting and hiring employees in this great Hiring 101 Guide at www.paychex.com/articles/human-resources/hiring-101-how-to-hire-employees. As you make your way through finding quality talent, be sure to avoid these common hiring mistakes. Learn more at www.paychex.com/articles/hcm/avoid-these-5-hiring-mistakes. 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 Biden recently signed into law the Inflation Reduction Act. While many debate if this will actually decrease inflation, one thing that’s for sure is there are some real tax benefits to small business owners. In this week’s episode of On the Mark, host Gene Marks will walk through five benefits that small businesses can take to help reduce costs with big tax credits. 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.

Retirement, it’s something we are all working towards, but something that many throughout the United States are not prepared for. In today’s workforce, there’s a retirement crisis happening. Too many people throughout our country are not saving what they need to retire comfortably – and this isn’t just a problem for employees, it’s a problem for employees too. On this episode, we have two great guests, Randy Feenstra and Congresswoman Ashley Hinson, both Representatives from the state of Iowa and both sponsoring the SECURE Act 2.0. Listen in as they talk with host, Gene Marks, about the SECURE Act 1.0, the SECURE Act 2.0, the Mainstreet Tax Certainty Act, and what’s on the horizon for retirement planning in the U.S. Topics Include: 01:04 – Introducing Congressman Randy Feenstra 01:42 – SECURE Act 1.0 04:19 – What the SECURE Act from 2019 offers 05:31 – Pooled Employer Plan (PEP) 06:41 – Retirement as an employee benefit 07:51 – Changes in the SECURE Act 2.0 12:22 – Tax credit for military spouses 13:11 – Tax incentives for Employee Stock Ownership Plan (ESOP) 16:06 – Expectations for Bipartisan support of SECURE Act 2.0 17:57 – Introducing Congresswoman Ashley Hinson 21:08 – The benefit to employers 22:22 – Automatic enrollment 23:56 – Additional provisions to SECURE Act 2.0 27:19 – Main Street Tax Certainty Act 31:35 – Emergency Savings Account Act Read more information about the SECURE Act 2.0 at www.paychex.com/articles/compliance/secure-act-changes. Get a refresher course in retirement planning at www.paychex.com/articles/employee-benefits/retirement-planning-101-for-business-owners. 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.

Pay transparency has many benefits, including improving pay equity and limiting the gender bias in pay, but a study found it also might compress pay, lead to disputes, and even create situations where people leave a company. Listen to this week’s episode as Gene Marks shares details on this study and also provides actions a company can take to limit the impact of the pitfalls. 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.

When it comes to banking, minority-businesses are often lacking that close relationship that many larger businesses have. With Community Development Financial Institutions (CDFIs), 60% of their lending must be focused on low- and moderate-income individuals. On this episode, Senator Mark Warner of Virginia is talking about the new piece of legislation he is working on and how it will increase investment to CDFIs and ultimately to those small businesses in low- and moderate-income communities. Topics Include: 00:24 – An introduction to CDFIs 03:14 – The prevalence of unbanked or underbanked businesses 05:38 – Examples of CDFIs 07:44 – The State Small Business Credit Initiative (SSBCI) 09:57 – Incentivizing private investors to invest in CDFIs 14:31 – Who does the CDFI bill target? 15:41 – When might this bill pass? 17:50 – The importance of going out and borrowing money Looking for other funding opportunities? Learn about the SBA Microloan Program at www.paychex.com/articles/finance/sba-microloan. Read more about funding your business with our guide "Start Up Guide: Fund Your Business." 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 Inflation Reduction Act expected to become law, the IRS would see funding increase by nearly $80 billion. “On the Mark” host Gene Marks and many others see this as a red flag for small businesses when it comes to auditing by the IRS. As a CPA and small-business owner, Marks offers a handful of tips on how to approach tax filing that could help reduce the risk of an audit. 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.

The supply chain industry was hit hard throughout the past two years, but DHL managed to find success despite the challenges they faced. On this episode of THRIVE, a Paychex Business Podcast, Gene Marks is talking with Greg Hewitt, CEO of DHL Express U.S. about what they are doing to attract and retain talent, increase customer satisfaction, and more. Topics Include: 01:11 – About DHL Express 02:48 – Greg Hewitt’s background 03:17 – Reflecting on the past two years 08:09 – How DHL is attracting and retaining talent 15:37 – Compensation vs. workplace environment 18:03 – The importance of your people 19:20 – Happy employees, happy customers 21:32 – Advice for managing shipping costs 23:55 – Sharing the cost of shipping Greg Hewitt talked about how DHL keeps a low turnover rate, read about what not to do when it comes to attracting and retaining talent with our guide "6 Things Employers Get Wrong When It Comes to Attracting and Retaining Talent" at https://www.paychex.com/secure/whitepapers/attracting-retaining-talent-things-employers-get-wrong. 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’s “On the Mark” podcast shares a handful of approaches your business can use to help navigate through this current period of rising interest rates, including budgeting for higher debt costs, seeking longer-term financing, getting into interest-bearing accounts, and more. Listen to the podcast for more insights from small-business owner Gene marks. 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 a business owner, going bankrupt is never something you plan for, so when it does happen, it shouldn’t be any harder than it has to be. On this episode of THRIVE, a Paychex Business Podcast, Gene Marks is talking to Senator Chuck Grassley from Iowa, about the latest legislation that he has been working on to make bankruptcy easier on small businesses. Listen in as he talks about the changes this legislation will make. Topics Include: 00:48 – 2019 Small Business Reorganization Act 02:12 – What inspired the new legislation 03:53 – The improvements to the existing Chapter 11 06:15 – Bankruptcy and the existing economy 08:19 – Sen. Grassley’s thoughts on addressing small business challenges 11:32 – The upcoming midterm elections Have a guest or topic you’d like to suggest for the show? Submit your ideas at payx.me/thrivetopics. 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 construction industry is showing signs of a slowdown, tech is cutting jobs, and banks seem to be anticipating a recession. However, travel is up, household net worth is at all-time highs, and Gene Marks suggests your business can take advantage of the situation and position yourself for the future. Listen to this week’s episode to get a few tips. 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 an economy as uncertain as the one we are facing today, businesses are forced to take on a range challenges, from supply chain issues and the rising cost of doing business, to the Great Resignation and inflation. Listen in as Terence Cummings, VP of Small Segment and Business Operations at Sage talks with Gene Marks about the importance of using technology to help you and your business manage this uncertain time, increase productivity, and improve profitability. Topics Include: 00:17 – Meet Terence Cummings 04:18 – An introduction to Sage 06:35 – This year’s top challenges for business owners 09:52 – AI machine learning robotics and customer service 12:07 – How CRM technology helps manage customers, equipment, and supplies 12:55 – How Sage connects you to the information they want and need 14:09 – CRM, productivity, accessibility, and cutting labor time 17:59 – Sage’s partner channel and why it’s so critical 22:00 – Utilizing all the software is capable of to make informed decisions 24:47 – The one thing businesses should be doing with Sage Resources: Speaking of technology, learn about the latest HR technology trends for 2022 at www.paychex.com/articles/hcm/technology-trends-in-hr. Payroll technology is another great way to increase productivity, learn about the payroll technology trends for 2022. Learn more at www.paychex.com/articles/payroll-taxes/new-year-payroll-trends. 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 shares his thoughts on the importance of implementing wage transparency as part of your business’s job search and hiring process, regardless of whether your state or locality requires it. Gene suggests that it’s one way to level the playing field for all candidates, plus offers several resources that can help your business learn more about pay scales. Listen to this week’s episode for more. Resources: What is wage transparency? Learn more about the benefits at www.paychex.com/articles/management/pay-transparency. 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.

Bethenny Frankel. Television personality, entrepreneur, philanthropist, and New York Times bestselling author. Whatever comes to mind when you hear her name, there’s one thing you need to know about Bethenny Frankel; when it comes to business, she’s all business. On this episode of THRIVE, a Paychex Business Podcast, Gene Marks talks with Bethenny Frankel about her success as an entrepreneur, her experience as a business owner, and her new book “Business is Personal.” Hear what she shared with us about how ‘stacking’ your time can make you more productive and efficient, what to consider when looking into business investors, the importance of building a team of loyal employees, and much 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.

Businesses that use independent contractors might be faced with a decision — a financial one — if a proposed new rule goes into effect that would define independent contractors as employees. This could create the need to pay them a wage and qualify them for overtime. It also could impact independent contractors who want more autonomy over their work. Gene Marks discusses these and other potential impacts of the proposed rule on this week’s 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.

René Lacerte, Founder and CEO of Bill.com, knows just how special small businesses are. That’s why he created Bill.com, to help business owners with their financial operations as they relate to accounts payable and accounts receivable. Listen in as René talks with Gene Marks about what Bill.com can do for businesses; the importance of embracing digital technology; how businesses can navigate supply chain, inflation, and high interest rates, and much more. Topics include: 00:58 – And introduction to Bill.com 04:49 – How can Bill.com make your life easier? 07:58 – The ease of setting up Bill.com 10:03 – Get more done with the same staff 12:47 – The partnership approach of Bill.com 14:33 – Where does Bill.com stand in an uncertain economy? 16:52 – Navigating supply chain, inflation, and high interest rates 20:26 – The future of Bill.com 22:08 – Why businesses need technology like Bill.com Find out more ways to help improve efficiencies within your company by visiting www.paychex.com/articles/human-resources/improving-operational-efficiency. 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 four-year study of keywords and online search traffic by SEMRush reveals that businesses are all about learning more and gaining ground when it comes to the digital realm. This includes digital marketing services, videos, and text messaging marketing. Host Gene Marks advises getting onboard to build your business and expand your communication with clients. Listen to this week’s “On the Mark” podcast to get additional tips on how best to put these tactics into practice. Resources: How to Get Found Online. Listen to THRIVE, a Paychex Business Podcast, as an SEMRush senior VP shares how the right people and plan can get your website noticed. 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.

When it comes to doing business in the construction industry, ensuring your own employees are being paid correctly is not the only thing you need to worry about. With the Wage Theft Protection Act, you must be sure that anyone working on one of your projects, including those employed by subcontractors, are being paid the correct wage, on time, and at the right rate. On this episode, host Gene Marks is talking with Phil Ross and Brian Sanvidge, of the accounting advisory firm, Anchin, Block & Anchin LLP, about the Wage Theft Protection Act, your responsibilities under this legislation, and how to protect yourself and your business. Topics include: 00:20 – Meet Phil Ross and Brian Sanvidge 02:54 – What is the Wage Theft Protection Act? 05:30 – Paying your employees the right rate – what does that mean 07:44 – Who does the Wage Theft Protection Act apply to? 11:02 – Why a lower cost subcontractor isn’t always better 14:30 – What industries does this impact? 17:32 – What steps can you take? 20:00 – What to do if you find a problem with a subcontractor 22:03 – The importance of reference checking Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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.

Compensation, flexibility, and waiting for a deeper talent pool could be the way your small business navigates through this period of inflationary-induced hiring challenges. Gene Marks suggests on this week’s podcast that it starts with paying a competitive salary, but equally important is using your size to do things bigger places can’t — flexible workweeks and coordinated fun days that build culture. Finally, be prepared to scoop up the employees that larger companies might let go if a recession hits. 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.

When the shutdowns from COVID-19 began to take effect in March of 2020, Senator Marco Rubio knew that the impact to the economy could be catastrophic if they didn’t act soon. With the looming threats of widespread unemployment, a real estate crisis, and the reality that many small businesses would be wiped out, Sen. Rubio lead the way for the Paycheck Protection Program (PPP). Listen in as Sen. Rubio takes host Gene Marks behind the scenes of the PPP – a look back at how it started, how it went, and where it’s going. Topics include: 00:19 – Introduction to the episode 01:03 – The numbers of the PPP 01:28 – From a supply chain tool to the PPP 03:50 – Who was a part of creating the PPP 05:16 – The inspiration 06:45 – Sen. Marco Rubio’s thoughts and fears 08:33 – The PPP and fraud 10:30 – Why the banks were slow to react 12:49 – How Sen. Rubio educated people about the PPP 14:41 – Sen. Rubio’s involvement throughout the PPP 16:25 – How bipartisan was the PPP? 18:12 – If he could do it again what would he change? 22:26 – Is there potential for this model in the future? 24:31 – Sen. Rubio talks the impact of the PPP 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 survey by the Society of Human Resource Management (SHRM) found that 72% of businesses that responded offer a fully insured health plan, while 95% offer a retirement plan. Another 62% provide remote-work employees a subsidy for equipment. This week’s episode provides details about the additional benefits employers can gain by dedicating financial resources to these and other areas of high interest, according to the survey. Have a guest or topic you’d like to suggest for the show? Submit your ideas at: http://payx.me/thrivetopics. 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 the age of eight, Paralympic Track and Field Athlete for Team USA, Lex Gillette, lost his eyesight, but that didn’t stop him from finding his vision. In this episode, the first of a two-part series, Gene Marks, host of THRIVE, a Paychex Business Podcast, talks with Lex about overcoming obstacles, shifting your mindset, the importance of building a good support system around yourself, facing your fears, and much, much more. Topics include: 00:19 – An introduction to Lex Gillette 02:11 – Overcoming obstacles 05:31 – Facing barriers in life 09:51 – The importance of a support system 12:48 – Facing your fears 16:04 – How vision can help you see 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.

Inflation and its impact will be in the news for better part of the year, especially the rising cost of oil and fuel. Gas prices and petroleum-based products that every business uses on a regular basis — even travel and commuting costs — will affect finances. This week’s “On the Mark” podcast looks at a few steps that owners can take now to plan accordingly and hopefully better manage the situation. 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 there’s one thing we’ve learned from the Great Resignation, it’s that business is in fact personal. Especially for employees. As companies look for ways to attract and retain talent during this time of labor shortage, they need to put a renewed focus on organizational culture and employee morale. On this episode of THRIVE, a Paychex Business Podcast, you’ll hear from Dr. Ernest Baskin, Associate Professor of Food Marketing at St. Joseph's University, as he talks with host Gene Marks about why businesses should focus on creating a positive company culture, the importance of treating your employees like family, why employers and managers should be in the trenches, and more. Topics include: 00:44 – The work of Dr. Ernest Baskin 02:55 – Finding and retaining talent: Is money the answer? 05:44 – A new breed of employees: all about incentives 06:46 – Retaining current employees 09:12 – The importance of building a culture 11:21 – Why managers should integrate with employees 15:35 – Implementing a feedback system 16:46 – Modeling your company culture 18:26 – Where to find employees Read more about the importance of company culture at www.paychex.com/articles/human-resources/why-culture-management-matters Find out how to build a culture for your remote team at www.paychex.com/articles/human-resources/how-to-build-culture-in-a-remote-team. 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 episode of On the Mark, you’ll hear about a new study from PYMNTS.com that surveyed U.S. customers about their bill pay preferences and the appeal of digital billing. Host Gene Marks discusses why small business owners should pay attention to this trend as 41% of customers cite the ease and convenience of digital payments. Learn about the benefits of making the switch to offer digital payments and become a more attractive option to your customers. Resources: Learn more about how an upgraded payment technology system can benefit your business at www.paychex.com/articles/finance/contactless-mobile-credit-card-payments. 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.

When it comes to the future of the web, it’s all about the Metaverse. But what is the Metaverse exactly? And what does it mean for your business? That’s exactly what Gene Marks and Nathaniel Hunter, COO of InfiniteWorld, are talking about in this episode of THRIVE, a Paychex Business Podcast. Hear what they had to say about what Web 3.0 and the Metaverse are, what’s already being done in this new space, and how it will change the way companies do business. Topics include: 01:01 – What does InfiniteWorld do? 02:04 – Metaverse terminology 02:58 – What exactly is the Metaverse? 03:45 – Web 1.0, 2.0, and 3.0 08:02 – Products in the Metaverse world 10:19 – What InfiniteWorld does for companies 12:39 – The interest in the Metaverse from companies 15:31 – Positioning your business for the Metaverse 17:41 – Digital real estate in the Metaverse 21:10 – What does the Metaverse mean for privacy and security 23:36 – What will make the Metaverse take off? Have a guest or topic you’d like to suggest for the show? Submit your ideas here. 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.

No business is too small for hackers to ignore. They want data and to create mayhem, and any business that isn’t taking cybersecurity seriously is a prime target. This week’s episode of “On the Mark” shares details on how hiring an IT security firm can be the best move to reduce your risk. The training and tactics provided, which take into consideration your remote workforce, will cost a little now but potentially save you from a financial and reputational hit in case of a cyberattack. 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 can a CEO peer group benefit your business? In this episode, you’ll hear from Sam Reese, CEO of Vistage, the world’s largest peer advisory group for executives and business owners at small and mid-size companies. Each month, local groups of about a dozen non-competing leaders of organizations meet to share success strategies, problem-solve, and vet ideas. Learn how Vistage differs from your company’s governing board, and how its global speaker panel, executive coaching, and strategic insight from peers outside your industry can sharpen your leadership skills. And hear how Sam’s own Vistage experience salvaged his tenure as a young CEO and set him on a new course to success. Topics include: 1:10 - What do 27,000 global members experience? 3:50- How Vistage differs from traditional governing boards 5:07 - Why connecting with leaders outside your industry is healthy for your business 6:35 - Vistage keeps the focus at the local level 9:07 - Member longevity common in Vistage groups 10:33 - What's the buzz on labor shortages, inflation from Vistage members? 12:08 - Vistage confidence index shows leaders face uncertainties 15:23 - How Vistage is helping CEOs address succession planning 19:25 – Two common objections and how Vistage overcomes them 22:49 - Stats show Vistage leaders outperform others; Sam’s own story 25:53 - Indicators Vistage might be a good fit for you Resources: One of the best ways for business owners and leaders to support employee engagement is by embracing it themselves. Read our article to learn why at //www.paychex.com/articles/human-resources/how-to-improve-employee-engagement. Have a guest or topic you’d like to suggest for the show? Submit your ideas at: http://payx.me/thrivetopics. 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.