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FOXBusiness.com's Kate Rogers on how small-business owners can be proactive about keeping their unemployment-tax costs down.
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Campground and one of the issues we're talking about jobs of course is a small businesses and how they are struggling and up.
How can they lowered their own costs of doing business so they can stay afloat and joining us right now we have Kate Rogers of -- business.
Network and as you aren't going right now on V small business.
Yeah.
Fox Business website.
And it's about how a small business and lower its employment unemployment insurance cost I guess I have read that.
So.
Remind us for small where this article is sure -- -- -- small business that foxbusiness.com.
That's our small business sector.
And unemployment insurance costs are just part of the many payroll costs associated with going to small business.
-- -- -- -- in small business owners saw their unemployment tax liability go up.
As much as 250%.
Per employee in some states.
And this is due to the recession and high employee turnover and also dwindling state funds for unemployment benefits.
But -- smart higher -- and also proper documentation small business owners can try and cut down on some of these costs.
Yeah and you actually have a list of six tips and I will go through them the first one that it's important got it all starts right at the beginning.
Hired the best people exactly because you're a liability as a nuclear starts from day want to you want to make sure that you have the best people in your office because.
If you hire smart -- you have less of a chance of having to fire people.
And being possibly liable for unemployment -- All right and the second tip is proper employee training that's again from day wanna see you hire someone make sure that they are well versed in everything.
That your business is about in the employee handbook make sure they know the rules about working for your company -- that way if they've highly.
Here attendance policy let's say you can say that they were properly trained in the -- and documented to me door.
That you are covering your own back just a -- comes down to you an im an employee.
Insurance -- Right where they're saying well you know I was I have one time and time I might back I wasn't properly exactly see you wanna make sure your covering yourself right.
And -- tip number three is to take proper disciplinary.
Action again so someone violates your policies you want to make sure that you are recording everything properly and that you are disciplining.
And in fact can also be done on the flip side if they're doing good work want to make sure your praising them and making them into a better work and also document that -- you.
Which I think rolled into next at okay allowed them before you Leary you yes and a lot of companies an hour just skipping their review process because they don't have the money to get annual -- But the NF IBU who I spoke with -- -- -- a webinar on this they said that just gonna you're doing your review doesn't mean that they're going to get an annual -- We don't have in the budget but that doesn't mean that you can't sit down with your -- to let them know how they're doing because that's very important.
Thank you but it it it is very time consuming and you know a lot of people and -- -- -- very busy and they just want to move forward and I'm not just sit back and look at what's already happened is actually ahead but that is the way you're going to get better employees is letting me know what they're doing right and letting them know what they're doing wrong so it's important to do at least once a year OK and a number five response to claims and participate in the process yes cell if you end up having to -- someone offer fire someone and you receive an unemployment -- chariots.
Clean respond to it don't put aside and say oh handle -- because that makes you as the employer look bad.
We feel like -- here not caring about it and you wanna make sure your partaking in the processing you ever -- to appeal it -- so they also say to show up to hearings if you get called into court make sure you show your face.
And you can possibly fight -- -- not come across yet.
All right and last but not least review your statement yes so when everything is that in done make sure you go over the statements that you received from the state.
And they shouldn't overcharge your account because it happens and small business owners are really counting their pennies if He can afford to lose that my story important information and again you can find this on small business -- foxbusiness.com.
Kate Rogers of Fox Business Network thank you so much -- talking to you -- -- our.
