Which Employee Raise Method Is Best for Your Small Business?

In all of our years of offering tax advisement and payroll management to small, medium and large businesses, we have noticed administering pay raises can be quite complicated and have sticky consequences when enacted inefficiently. It requires monitoring of your employees to see where performance excels, meets or falls short of your company’s production standards. Since many small businesses opt to outsource their payroll to our company, we have some tips for you to help determine which merit increase method will work best for your small business.

Determine the Purpose of Your Employees’ Pay Raises

For many small business owners, the point of offering pay raises is often to commend employees on their hard work in helping your business succeed. Continue reading