2 Burst results for "Geo Wiggins"
"geo wiggins" Discussed on Cheers To Business
"It's important that when you provide bonuses and trying to break people out of the cycle of we're just gonna sit in the room the executive management team and we're going to decide you know what everyone should get. Do not do that if you're doing performance reviews and you've got your hand on people's performance purposely in your heart assault what you're going to give at the beginning of the year and then if they need those goals then this is what the bonus should be. This is the performance based on how the company is doing and how that person wasn't individual contributor but to wait till the end of the year. It is a recipe for discrimination. It is a recipe for unfair treatment. Just make the decision. I'm going to give them three percent or five percent of their annual salary. If they meet these goals if they don't meet them you know maybe you prorate it down a little bit lower or you don't give it all but if you are giving additional money at the end of the year without it being connected to performance you are missing a phenomenal opportunity to make sure that you gave very performance. You're losing it. Hey everybody welcome to the show today. Dr geo wiggins back with us and we're gonna talk about some holidays. Do's and don'ts more dues because we all have enough don'ts in our lives right now plus and thank. You need to think about before the end of the year for your business. Hey i'm karen i'm a former. Cpa entrepreneur business with big ideas. Welcome to tears.
"geo wiggins" Discussed on Cheers To Business
"Welcome to cheers to business. Hey everybody welcome to our second live broadcast kid. He's not here today. But I do have a special guest miss. Geo wiggins Miss Wiggins you have a PhD in management and you focus on strategy and your experiences. Hr Tell us about your company and what you do. Oh my company is morale restores and we focus on an overall holistic strategy of an organization as a relates to employee practices. So we do human resources but we look at it from the standpoint of how do these practices impact the company as a whole as the just provided a bunch of policies and say? Hey go do that. How was it going to impact the finances? How's it going to impact the bottom line and the culture of the organization and a lot of compliance? Fun Stuff right to me you know. I'm big picture and so I like to see the effects and causing the moving pieces. And so yeah. I think that's awesome because people make knee jerk. Reactions are decisions and don't realize the reprecussions could come down the line and I think that's a basis of discussion of why you were the first perk to do this live broadcast absolutely with what's going on and in our environment right now and they economic impact especially on the small business right. You know the big corporations do they have enough funds to be able to pay their people while they work from home and you know. The small businesses do not may not have the resources. So you're very busy with person this weekend right I am. I am it's Well Yeah we had an opportunity to put together some communication for my clients on for small and mid sized businesses about these. They need to be thinking about regarding their employees and regarding What they need to do with their businesses during this pandemic and so been very busy over the weekend Trying to help people to focus on what's important coming into the next couple of weeks. You know I think guidelines is the you know the thousand dollar word right now because nobody knows what's going to happen. Nobody knows is continually changing. You know I was getting text messages about the you know the they're going to give fifty billion dollars to the SBA for loans. Well it's not quite that easy and once I looked into it and it hasn't been passed right. How are they going to decide? You know so. There's some conversation on that. The reason I say guidelines nobody until it's mandated. Nobody can tell you what to do in your business of what you do with you and your team and this show today is for the business owners in their team now getting him to guidelines I saw the SPDC male Washington leads that in this area. Who a wonderful person fantastic low love male well the Alabama. Sp BBC actually has put out guidelines on their site. Now I saw it on facebook so attractive backwards to get to the source and not have that up so it's guidance for businesses impacted by Corona virus. And when you say guidelines what are some of yours that you're that you feel comfortable enough with sharing and please let me have a disclaimer. That police go talk to your own person called G. Later you the information later on in this broadcast but please don't hold anything and everything we say in stone. It is everybody's guessing game changing constantly constantly. Well a couple of things that we were looking beers specifically about. How do you make a determination on the employees should come to work or not? You know if you'RE GONNA make decisions on if you're going to have remote workforce if you're going to allow them to be able to tell a commute And if you're going to provide them with Pto what happens if they don't have is but that's the time off So companies have Sick policies but they also have vacation and you have sick Tomsic. Tom Of course is supposed to be used if you're actually sick and vacation and for fun and recreation or if you just want to be away from work where. Pto Is a combination where you don't ask questions and so I need this time off okay. Fine it's granted. Us for a couple of days in advance or week in advance. And you're able to have. I've always been a fan of PTO versus anything. I convert every company over to Pto because it takes away that whole thing of you've got to have a doctor's note or you know really look sick. I don't think I wanNA give you. This needed a mental day. I know and you know. Don't top all. They usually sick time in a in a vacation time. They rollover differently at the end of the year. It's just a big headache. Grow over the. Pto is the best way but in a situation where you have an employee that let's say for example they don't have any PTI or they don't have vacation time or they don't have the time one of the things we have to think about is a business owner is if that person cannot afford to be away from work. If they're not feeling well are they gonNA actually disclosed that? They're not feeling well or will they experience. No they're not gonNA tell you of course not and or are they going to tell you that they think that their child may have tested positive or will test positive or if their spouse or someone that they've been taken care of and so as business owners in HR consultant. It's important to have those conversations about the wettest so let's try our best to put in contingencies where we can allow people to tell the truth and if they're not feeling well they're not having to make a decision between coming to work. You know ill and you know not come into work and not being able to feed their families. That's heavy it's very heavy and there's no right or wrong answer and there's no. It's nothing as stuck in stone. You've just every company has got to make the decision for themselves and we'll because that it's not required in the state of Alabama vacation sick. All of that is parks that your business owner decides to give their absolute to give their team so you know working out how if they mandate paid sick leave but what if these small businesses cannot afford. They don't have this policies in place because they're small and they can't afford to pay people when they're not they're producing whether it be at home or not a home right and that's a really tough conversation. That a lot of my clients and even colleagues in the business community or having right now and I think that the key is to have conversations with your employees as as possible and be as transparent as possible. You know having a conversation and saying hey you know if you're not going to be able to telecommute to work remotely and because we're not producing. GonNa be able to afford to be able to pay you for those days so those days are GonNa have to go and paid but communicating and explaining that. You can't afford it and just opening your heart and saying look. I want to do everything that I can. But here's some things that I can do trying to find solutions and positive ways for things that you can do to possibly help. Employees will be critical. But if you just say sorry not working you're not gonNA get paid. You seem like a monster and this type of situation. What if you don't WanNA lose that person? Did they've got to eat? They've got their kids right creative. I remember in. I'm going to go back to a situation with them. Hurricane Katrina Years ago and I remember working with company at the time and we were having a situation similar to that wear There were a lot of people that couldn't come to work for. You know obvious reasons. And we wanted the employees to know that we love them and we care for them. Simple things like providing them with meals okay and providing clothing or providing water or all these things that we were able to do. We may not have been able to write. We may not have been able to do exactly what they needed. Which is they needed to be able to come in to work because we had to shut the organization now but we were able to at least be able to let them know that we're in this together message so important because you know if you look at payroll vault over here you know who can go remote. And that's why can't he's not here today doing this. They're working on plans. And then I have the company with my brother which is manufacturing and those people are building product their talent. They are artists talents in their hands in their minds. And they're building thanks and they. We can't build it. They're not there right and said the different industries and also think about the restaurant industry right now. My heart bleeds for these bars and restaurants and so one thing I did last night was I wanted to follow up. When I heard mandated paid sick. Leave all right so what it is is the families. I Corona virus response. Act Okay. So it's passed the house President trump supports it. It's headed to the Senate who knows so I think the high points in this are that the there's free testing for the corona bars. But how many people do they have to give the test and tested? They have resources right. Unemployment different states have different every state's different on how they pay out an employment that is an employer tax paid in the employee's don't pay it Since on the dollar that's paid in. So how much do they have to give out? So I'm just trying to show. Both sides of this increase paid Medicaid defer tax payments. But they voted no to the payroll tax cut. That's the last thing that I heard. Yeah now were going to stop social security Medicare but last thing I've seen but it everything we're saying here is going to change it five minutes right. I so down disclaimer. To make sure I put that out there. Yeah all right. Another thing that came out was president. Trump came out and said fifty billion dollars to the SBA to help people get lunch. It's very hard to get an SBA. It's very difficult to get along. It is and I know Megan over regions bank. She just does. Sba Loans Iberia to Your Bank or to see if they have this but it's not cut and dry. This has not been passed. This is what I read. You had to prove substantial economic injury cracked that reminded me of the BP auspice. Yeah so one. They don't know how yet to substantiate that. And how do you measure it? How do you measure it? But I can't breathe. I'm glad I didn't do clip notes while it's all right now. If you have access to credit we source as you are not eligible so if you have a lot of credit you gotta use that I know if you have loans you gotta use that I if you have which made mama go to it and say it if you have collateral and you have equity in your home. They're gonNA want you to do that. Farsh right so. How hard is it going to be to get the money? And then if you are eligible which I think is gonNA take pun intended. An Act of Congress to do is the interest rate would be three point. Seven five percent for nonprofits two percent. Okay well the federal way just went two zero right or zero point two five or something. Don't quote me and little chance before the end of the judge I know right and so that's not the right that we pay. That's just the starting rate for banks to just off of that. So holy cow. There are a lot of considerations out there and you know I want to go back to..