U.S. Job Growth Continues According to ADP (Automatic Data Processing) Employer Services, private-sector employers added 187,000 jobs last month nationwide. U.S. companies added more employees than expected. In December 2010, 247,000 jobs were added.   This is the 12th consecutive month of job growth. ADP is the largest payroll processing company in the company handles payroll checks for one out of every six private-sector employee in the U.S.   ADP says the job growth is the best performance since 2005 and 2006. They began tracking this data in 2000. This information did not lift stock prices. According to the report, the total nonfarm private employment breakdown is as follows: Total employment: +187,000 Small businesses (1 to 49 employees) - +97,000 Medium businesses (50 to 499 employees) - +79,000 Large businesses (500 plus) - +11,000 Goods-producing sector - +21,000 Service-providing sector: +166,000 Manufacturing industry - +19,000 According to ...

Attention Hiring Managers: Overqualified Applicants May be Best for the Job! Before you discard job applications from people you believe to be “overqualified,” there are some things you should know first. Recent research shows companies should consider people who have more than the minimum qualifications. A recent piece in the Harvard Business Review (entitled “The Myth of the Overqualified Worker”) explored recent research that shows overqualified employees tend to perform better and do not quit any sooner than other employees. While some companies do not consider applicants with more education or experience thinking they will leave eventually for better pay, recent research shows that could be a disservice to both employers and potential employees. For instance, employees might be less concerned over pay and care more about the work-life balance offered. They might not be interested in the excess hours involved with a higher salary. In addition, an older man or woman might be less likely to change j ...

Florida Legislators Hope to Tighten State’s Unemployment System   Under new legislation put forth in the Florida state house, the time frame for collecting unemployment benefits would be shortened. This is the result of a major state budget deficit. The legislation also looks to cut businesses some slack since they fund jobless benefits.   Backers of the measure say this will help stop the bleeding of the state’s unemployment system that has suffered from the recession and is now borrowing from the federal government to pay claims. This year, unemployment tax rates have increased and the state of Florida has borrowed almost $2 billion to pay the claims. The plan would keep the maximum weekly benefit at $275 and reduce the maximum length of state benefits from 26 weeks to 20. Federal benefits, however, take over at that point and bring the total to over 90 weeks of eligibility and that would not change.   Another change would attach the unemployment rate to the duration of benefits. For ...

Payroll Gains Expected to Pick Up According to economists surveyed by Bloomberg News, employment increased by 146,000 workers in January, 2011, after a 103,000 gain in December. Economists also project the jobless rate could increase from 9.5 percent to 9.4 in January 2011. Eighty five economists were surveyed. Payroll gains most likely picked up in January, even after the winter storms. Economists say this shows the U.S. recovery is strengthening.   As customers spend, and exports and business investments increase, companies like Ford and Emerson Electronic are hiring. However, Federal Reserve Chairman Ben S. Bernanke is said to be still concerned the pick-up in growth is not cutting unemployment quickly, which is one reason central bankers have said they will continue with the plan to drive another $600 billion into the economy.   The projected increase would mean for 21 consecutive months, joblessness has exceeded 9 percent. That’s the longest stretch of elevated unemployment since monthly ...

  New Outsourcing Standards These days, more and more companies are outsourcing business functions. Services being outsourced include a wide variety of HR services (benefits, risk management, payroll processing, etc.), as well as accounting, IT data center hosting, printing services, processing orders and more. While outsourcing helps process business operations, there is also a risk work is not being controlled or governed. Because of this, new standards for U.S. and International service organizations will soon be implemented.   The new standard, Statement on Standards for Attestation Engagements (SSAE) 16, goes into effect June 15, 2011. There are certain things companies can discuss with a service auditor now to be sure they are prepared for the new standards. Try to implement the new standards as soon as possible. Determine the implications of an SSAE 16 report for your company. Figure out if a U.S. or international report would be necessary. Determine any risks. ...