We covered a lot of ground in our blog this year. From floating holidays (and why they’re overrated) to diversity in the workplace (and how to achieve it), we provided practical tips on topics that matter to today’s employers. Here’s a look at some of the most popular XMI Insights on HR and accounting topics we explored this year.
Scooters and workers’ comp: While e-scooters offer an easy and sustainable way to get around, their fast popularity is sparking concern for businesses whose employees are using them on company time. Whether an employee hops on a scooter to make a customer delivery, run an office errand, or meet with a client across town, riding these devices on the clock exposes companies to workers’ compensation risks that they may never see coming.
What it means when employees never take vacation: Research shows that American workers leave a collective 705 million vacation days on the table each year. We explore why skipping out on time off is bad for your employees—and also delve into some of the reasons why they might be hesitant to take a vacation. Get the scoop in Does Your Employee Never Take a Vacation? This Might Be Why.
Switching accounting systems: This is one of the biggest concerns we hear from growing businesses. They’ve outgrown their old accounting system but they’re terrified of what switching to a new one could do to their business. Will there be hiccups? Will they lose their old data? Will it work the way they need it to? There’s no need to worry with these 5 tips for a successful transition, mined from XMI’s accounting software implementation specialist, Melinda Swann.
How your outsourced accounting partner works with your CPA: After reassuring clients about the previous topic, the next question we hear most often is, “We have a CPA, why do we need an outsourced accounting partner?” Lots of reasons, and we outline the big ones in Teamwork Makes the Dream Work: How an Outsourced Accounting Firm Partners With Your CPA. For insights, we turned to John Bellefant, managing partner of Brentwood, Tennessee-based Bellenfant Certified Public Accountants & Advisors.
The intersection of accounting and HR: Human resources and accounting both play a vital role in most businesses, but all too often these important processes get carried out in silos. In 5 Spots in Your Business Where Accounting and HR Intersect, we explain why it’s so important to find the overlap between these seemingly disparate operations. Doing so can create a lot of value for businesses as they grow.
Creating a PTO policy that works: We dedicated the entire month of May to blog posts about paid time off. When summer was upon us, we knew vacation was a topic on everyone’s mind. One of our favorite posts of the year was published in May—in which Lane Fenner, XMI’s SVP of operations, shared his tips for truly unplugging from the office while on vacation—but our readers were more interested in the one explaining how to align your PTO policy to ensure maximum benefits to employees and minimum loss to employers. Get four expert tips from Michelle Thompson, XMI’s vice president of human resources.
Artificial intelligence and 401(k)s: The complex nature of investing can be a big barrier to employees taking full advantage of their 401(k) plans—or even using them in the first place. Most participants will make savings rate decisions based upon the employer match, how much they think they can afford or some combination of the two. But the problem with that approach is it doesn’t consider retirement date or retirement goals. Add to the mix a baffling menu of investment options, and the uninitiated investor can get confused fast. Enter artificial intelligence, which has enabled “robo-advisors” to bring individualized investment planning to the masses. Learn all about it (and how you can access it through XMI) in Using Artificial Intelligence to Enhance Your 401(k) Offering.
PEO 101: Understanding Co-Employment: It’s not easy being an industry that is swirling with misconceptions and myths. That’s why we get a thrill out of explaining to the uninitiated one of the hardest-to-grasp concepts about professional employer organizations—co-employment. What it is, what it isn’t, and who it’s for: We cover it all in our co-employment explainer piece.
We’ll be back in the new year with all-new XMI Insights and practical tips to help you better manage your HR and accounting processes. In the meantime, enjoy these top articles from 2019 and, more importantly, enjoy the holidays. From all of us at XMI to you and yours, we wish you joy and peace this holiday season.