Small Business Weekly
November 14, 2022
Hiring For Abilities Versus Experience
Have you ever looked at a job posting online and wondered why there is a never-ending laundry list of job duties, required experience, and a plethora of other skill requirements attached to the position? Well, the answer is the job posting is serving to screen out candidates rather than screening them in because the job posting is only looking for experience rather than ability.
Avoid A Common and Costly Compliance Mistake
Many small business owners aren’t aware that if they offer a group health insurance plan, it is their legal responsibility to provide their insured employees with a Summary Plan Description (SPD).
An SPD is a required legal document that describes the rights and responsibilities of both the employer and employee under a group benefit plan by providing detailed information about the health plan itself. This document must be provided to insured employees within 120 days after the group plan is established. Failure to do so could cost the company $171 per day in Department of Labor (DOL) fines.
Implications of USDOL Proposed Rule Changes on Independent Contractors
Growing concern over the future strength of the economy. Increasing regulatory and compliance burdens and risks. Rising cost of capital and unprecedented inflation. These are some of the major challenges that small businesses throughout Michigan and the country are facing as they chart a path forward into the next phase of the pandemic recovery process.
Election Recap
Gongwer News Service researched the question: How many years over Michigan’s 185 year history have Democrats controlled the House, Senate and Governor’s office at the same time? The answer is six. That’s what makes last week’s election truly historic. Additionally, Justices nominated by the Democratic Party also maintained their one seat majority in the Supreme Court.
The Small Business Briefing
Tune in for another episode of the Small Business Briefing today at 3 PM EST! Hosts Brian Calley and Sarah Miller are back to bring you the latest news impacting small businesses.
Watch live on Facebook at 3PM or via Zoom.
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