January is a good month to invite your employees to predict results over the coming year. First, ask workers to project how your company will do in a key measurement (such as sales per employee or expense ratio). Have them submit their estimates in writing, along with a few sentences on how they’ll help attain the results they foresee (such as “I’ll return all calls within 24 hours” or “I’ll cut down my backlog to no more than five files”). Keep the predictions secret until year-end. Then host a party to read each entry and declare a winner for the closest projection.
Thousands of employers have been snared in the IRS's all-out initiative to increase employment-tax audits—its first such initiative in 25 years. A main target: the tax treatment and reporting of employee fringe benefits....Click here to find out more.