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You know you’re supposed to acknowledge superior performance, so you dole out rewards such as gift certificates or cash bonuses. But awards don’t substitute for “free” recognition when you say “Great job” or “I’m impressed.” Even employees who love awards still hunger for sincere praise. Try to maintain a 5:1 ratio of giving oral praise to dangling awards: for every five expressions of praise, offer an employee a chance to earn an award for attaining a stretch goal.
If you handle payroll compliance, beware: As other tax revenue sources dry up, the IRS is hiring 700 new revenue agents whose only job will be to hunt down payroll-law violations. That means intense new scrutiny of your W-2s, 1099s, 1095s and other payroll tax reporting compliance....Click here to find out more.