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Partners HR Blog

By John Huntington27 Jan, 2020
Let's take a stroll down memory lane. It's January 11, 1970 in two short months "Let it Be" by The Beatles would be released. That evening the Kansas City Chiefs, lead by quarterback Len Dawson, beat the Minnesota Vikings 23-7 in Super Bowl IV.
In four short days my Kansas City Chiefs, lead by Patrick Mahomes, will take on the San Francisco 49ers in Super Bowl LIV.
I could write on for hours and hours - about story after story, heartbreak after heartbreak of my years of being a Chiefs fan.
However, this isn't a blog about sports or my life. Instead I am going to address every business owners nightmare. It is worse than year end taxes, or paying for overtime when you are on a budget. It is the day after Super Bowl Sunday. The dreaded Super Bowl Monday....
Here are some statistics about Super Bowl Sunday and the Monday that follows. According to USA today , the average sports fan will spend $81.17 on Sunday. This total will be on a combination of food, beverages, & sports apparel . If we tally up all the sports fans in the US alone, this is approximately $15.1 billion in revenue. The Washington Post estimated in 2019, that 17 million employees would call in sick on the Monday after the Super Bowl. If we assume that half of those employees actually called in and were supposed to have worked an eight-hour shift. Then employers lost roughly 68 million hours of productivity on Super Bowl Monday. The average employee in 2019 made $181 which is approximately $33.7 billion in lost revenue.
We are going to look at three options as an employer that you can do to put up a good defense against Superbowl Monday, using three football icons as examples -
Bill Parcels - (hardcore) - MANDATORY DAY OF WORK . Do not allow any employees to call in sick or even request the day off in advance. While this may seem the most obvious way to avoid losing potential revenue you need to consider what this can do to employee morale (see our previous post on Employee Morale ) and how it can effect your clients and customers.
Jerry Jones - (not the best idea ) - CLOSE THE OFFICE DOWN . It seems like it will work and it looks like the best solution. You don't consider the ramifications, regardless of what's on paper, what your customers need/want, what your board of directors say, or how much money it will cost you. Yes your employees will love you and business morale will be high, however, what looks best may not be best.
Andy Reid - MAKE ACCOMMODATIONS FOR YOU AND THE COMPANY - This option, in our opinion, is the best. Put the focus on making your office atmosphere more enjoyable or festive on this day. This will lead to lower rates of absenteeism and you might even see higher levels of productivity because your employees are excited and happy to be at work.
Some accommodations you could make -
Forego a formal attendance policy on this day altogether,
Cater in breakfast or lunch for all the employees who come in that day, or, if that’s not feasible for your office, encourage your employees to participate in an office-wide potluck lunch or breakfast.
Allow employees to wear the colors or jerseys of their favorite NFL teams
In summary, making a shift to focus in your office atmosphere is key to a successful Super Bowl Monday. Are you needing more information on how Partners HR can help you with your HR and payroll needs? Contact our offices today at 405-917-1020 or at info@partners-hr.com.
2020 Goals
By John Huntington20 Jan, 2020
Partners Human Resources has wonderful goals for 2020, here are some tips from us about how to set realistic goals for your business this year.
By John Huntington20 Jan, 2020
Health Savings Accounts (HSAs) started in 2003. A recent study showed that approximately 63% people have an HSA. So if they have so many perks why is the percentage not near 100%? This could be due to misconceptions or the offering by employers. Most participants praise HSAs because of the perks they provide. Partners HR has come up with our top 4 reasons to choose a HSA and why:
1. HSA contributions are pre-tax - Any money you (or your employer) contribute towards your HSA is pre-federal, state, and payroll (FICA) tax, creating a significant tax-savings. Contributions can be made at any time during the calendar year up to the calendar year maximum for single or family coverage.
2. There is no “use it or lose it” with an HSA - Unlike the more commonly-used FSA (a.k.a. - “flexible spending account" or “flexible spending arrangement,”) all monies contributed into an HSA roll over from year to year. The best part is that neither the IRS nor your employer can touch this money because YOU own it. If you change your job or change your health plan, the money in the account is still yours to be used for qualified expenses.
3. HSA money is invested - You aren’t just limited to investing money in a 401K or IRA; monies contributed into an HSA are also invested and earnings are tax-free. Then, at age 65, you can use the money from your HSA towards *any purchase (medically-related or not), similar to a traditional IRA.
*Please note that any non-medical expenditure will be treated as taxable income.
4. HSA dollars can be used for non-traditional healthcare expenses - Whether or not you have dental or vision insurance, you can use HSA contributions to pay for such expenses – tax free. You can also use this money for nontraditional forms of health care such as acupuncture, acupressure, chiropractic care, Lasik’s, driving expenses to receive medical care, and practically any other medically-required expense (see IRS Publication 502 for a list of eligible expenses).
When you hire a PEO the HSA administration is easy for employers by setting up pre-tax deductions and making contributions directly to the HSA institution of the employee’s choice. For more information, or to get started with an HSA, don’t wait any longer, contact Partners HR today at 405-917-1020 or info@partners-hr.com
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