Taxes, at least for now, are one thing in life that are never going away. However, just because that is the case doesn’t mean there aren’t steps you can take to make life easier, reduce expenses and better manage your company’s unemployment insurance costs.

It is important to remember that you do have the ability to control your tax rate, and some organizational changes can directly influence this critical aspect. Taking the time to pull all this together should be a top priority.

In order to help you along, here are four key tips and tricks to ensure your finances are as stable as ever:

1. Develop a long-term plan
Many companies struggle with administrative duties because they don’t have a clear direction, and they then lose focus about where they need to be headed. According to Fast Company, a long-term plan should be a part of every organization. This will keep employees informed about goals and benchmarks, and also factor into the workforce’s overall morale. Better yet, management could have an easier time figuring out expenses, and it’ll be simpler when you have to manage your unemployment costs.

2. Minimize the turnover rate
One of the biggest drivers of unemployment insurance expenses is a high turnover rate. Constantly terminating employees could lead to an increase in claims, which is reason enough to find a way to keep people working within the business. Fast Company noted that consistent and open communication can be one method to do that. Being honest will remove any confusion, and a staff that trusts and respects one another will be more productive.

3. Terminate in the proper manner
Even if your company is firing on all cylinders, there comes a time when you have to terminate an employee. Costs can add up quickly if the process isn’t smooth and efficient. G&A Partners recommended regular performance evaluations and probationary procedures. In addition, make sure that there is a process in place to handle everything. Documentation will also help in the event of a claim.

4. Don’t let illegitimate claims slide
Nearly all employees have a right to file a claim for unemployment insurance, but in some cases, they may not be eligible for benefits. Be sure to contest all of these illegitimate claims to better manage the related tax expenses. For instance, if a person is terminated for violating company policy or resigns, they may not have a right to benefits.


Contact CCC to see how we can save your organization time and money.
Contact our Sales Team
(800) 207-6926

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