According to the Society of Human Resource Management (SHRM), replacing an employee can cost anywhere from 50% to 200% of their annual salary. Most business owners don’t think about the full cost of losing an employee until they’re already in the middle of it. Small businesses tend to feel this more than larger ones because […]
Company Culture
Maximizing the Tax Benefits of Your Remote Workforce
The pandemic fundamentally altered how many U.S. businesses operate. Distributed teams and flexible arrangements have become permanent fixtures rather than temporary fixes. For employers and workers, this also means new opportunities and challenges for tax planning and compliance. The reality of remote workers Companies have discovered that productivity doesn’t require physical proximity. In fact, 60% […]
Boosting Employee Morale During an Economic Downturn: Tips to Help Your Team Come Out on Top
Inflation is high and the economy is down. Many American workers are overwhelmed by looming threats to their job security. By the close of 2022, a surge of layoffs hit dozens of U.S. companies — from IBM to Capital One to Spotify — with no signs of slowing down. And employees holding on to their […]
Business Trends for 2023: Strategies to Level Up Your Workplace
The way we do business is constantly evolving. And when you consider the current economic uncertainty, the rapid development of new technologies and the repercussions of a worldwide pandemic, you can expect 2023 to be a year of great change. At Magone & Co, we expect to see the following trends emerge over the course […]
Budget for Success: Your Essential Tool for Business Planning, Financing and More
Is your business in growth mode? Over the years, we’ve heard from too many business owners that their budget is in their head. And that may work for some in the beginning — as long as you’re not looking to grow. As your business expands, there’s a spend against revenue. If you grow by $500,000 […]
Building a High-performing Team, Despite Tight Labor Markets and Rising Inflation
Mid-size companies already say the labor shortage is their biggest issue, facing mounting pressure to raise wages, alleviate cost of living pain, provide flexibility, increase benefits and add training as options. Now, rising gas prices and inflation add additional stress on wages. If you have growth plans, you can’t afford not to have the strongest […]