If you're in the construction business, you probably employ union workers, which means you have union rules to deal with every payday. Union rules involve complex pay policies and calculations that make timekeeping and payroll particularly challenging to manage. Many construction companies try to avoid taking union jobs for this very reason.
The Fair Labor Standards Act (FLSA) and overtime regulations have been in the headlines lately, with a focus on the evolving nature of labor laws and little-known details that could surprise you.
The Fair Labor Standards Act (FLSA) and overtime regulations have been in the headlines lately, with a focus on the evolving nature of labor laws and little-known details that could surprise you. Of special note are potential changes to FLSA, the overtime rule and increasing civil penalties.
We just returned from the 2019 Acumatica Summit, where industry experts pulled back the curtain on emerging trends in the construction industry. Insider CPAs, construction company controllers, industry consultants and Acumatica partners shared insights that forecast the coming landscape for construction in 2019 and beyond. Four common themes emerged that are top concerns for forward-thinking construction companies.
When purchasing a payroll system, you need to make sure the basics are covered—correct pay stubs, tax compliance, deductions, reporting, etc. But several details can easily get overlooked during the early stages of the purchasing process. If you forget to consider them while selecting a new Human Capital Management (HCM) system, you could end up regretting the solution you opt for.
If your payroll personnel are tired of spending half their week on manual calculations and payroll policies, it may be time to look into an automated integration solution. Automation can eliminate manual data entry errors, and reduce hours of onerous work to a few seconds.
This has been a tremendous year for us at IDI. We’ve spent a lot of time visiting with our partners and working with hundreds of your clients. We’ve also written a bevy of blog posts that our clients and partners found incredibly valuable. And so, to celebrate a terrific 2018 and look forward to an exciting 2019, we’ve collected our top MVPs (most valuable posts) of the year for your review. Enjoy!
There's a myth going around the construction industry. Many contractors are operating under the belief that if you want to outsource your payroll, time and HR, you're out of luck. You won't be able to find an HCM system that can meet the complex needs of construction companies.
For construction companies, using an outsourced payroll/HR system usually means dealing with two payroll systems. Employee updates are made in multiple systems and clunky workarounds are shoehorned in place to reconcile the general ledger. These companies spend hours upon hours managing their data manually to ensure both systems have the right results.
Need to purchase a new human capital management solution for your construction business? An HCM system is a major investment, and it has implications that contractors need to be aware of. The right purchase will boost your business and help you stay in compliance with changing labor laws. But the wrong HCM system could create more headaches for your company.
