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Content about Employment compensation

May 14, 2013
Survey: Majority of Dry Cleaners Report Boosting Employee Pay

CHICAGO — Nearly two-thirds of dry cleaners have given pay raises on individual basis in last six months

CHICAGO — A majority of dry cleaners report they have given raises in the last six months, according to data from this month’s unscientific American Drycleaner Wire survey.

When asked if they’ve reviewed employee compensation in the last six months, 64.7% of respondents replied yes, saying they “raised pay on an individual basis,” while 23.5% “raised pay across the board.” Only 11.8% replied no, saying that they “did not raise pay.”

Coinciding with this trend, more than half of cleaners (52.9%) report that they pay their employees more than other plants in their market area. Roughly 41% of respondents have kept their pay rates about the same as other area plants. Just 5.9% report paying their staffers less than other plants in their area.

Just 17.6% of respondents report having had to lay off employees in the last 12 months for financial reasons.

September 4, 2012
Save Now and Minimize the Tax Bite

CHICAGO — If you haven’t yet set up your own retirement savings plan, you can’t afford to delay

CHICAGO — Whether you’re just getting started in your dry cleaning business or you’ve been around for years, you can’t afford to let your hard-earned dollars get eaten up at tax time. It’s tough enough to earn a decent income these days, and it can be even harder to keep what you earn. That’s why it’s so important to take advantage of every legitimate way to minimize the tax bite on your earned income.

Worrying about your retirement today when the business demands on you are so high may not be at the top of your priority list, but it’s important to understand that retirement savings plans have the double benefit of reducing today’s tax load, thus effectively increasing today’s income, while helping to build that all-important retirement nest egg.

July 20, 2009
Survey: Small Businesses Believe Employee Morale Has Held Steady Despite Recession

SAN LEANDRO, Calif. — Small-business leaders believe that the work environment has more impact on employee satisfaction than financial factors such as benefits or compensation, according to a quarterly survey of more than 250 small businesses conducted for TriNet, a provider of human-resources outsourcing services to small businesses.

July 6, 2009
Federal Minimum Wage Set to Jump to $7.25

WASHINGTON — The last of three scheduled increases in the federal minimum wage will hit on July 24, when all U.S. businesses will be required to raise eligible employee wages to $7.25 and display the proper labor law notice at each business location. To be compliant, all businesses with at least one employee must display the new regulation, regardless of whether employees are hourly, salaried or compensated at more than the minimum wage.