With the tax filing deadline approaching, make sure your company is getting all the assistance available from government programs. For instance, that means checking that you've fully utilized the Employee Retention Credit (ERC), the refundable tax credit designed to make it easier for businesses to keep employees on the payroll.

The credit is getting extended as part of the American Rescue Plan Act, the $1.9 trillion relief package just signed by President Biden. Originally scheduled to end on June 30, ERC will continue through year end, giving business owners access to as much as $33,000 per employee in incentives.

How the credit works, depending on the time frame
First half of 2021:

Eligible employers can claim a refundable credit against the employer share of Social Security tax equal to 70 percent of a full-time employee's qualified wages paid--including certain health plan expenses--from January 1 through June 30, 2021. The maximum ERC amount available is $7,000 per employee per quarter or $14,000 for eligible wages paid in the first half of 2021.

Kristy Daphnis, the federal workforce branch chief at OMB, said an upcoming cross council meeting of the CHCOs and PIOs will focus on organizational health.

The post OMB tying employee retention to employee experience progress first appeared on Federal News Network.

A bigger paycheck is not the solution; ensuring a shared commitment to mutual growth is

The Internal Revenue Service has published an FAQ on the Employee Retention Credit in regards to the Coronavirus Aid, Relief, and Economic Security Act.

On March 31, 2020, the United States Treasury Department and the Internal Revenue Service launched the Employee Retention Credit scheme, designed to encourage businesses to keep employees on their payroll amid the COVID-19 crisis.

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"I found this webinar to be very informative and provided many specific examples and recommended actions for anyone to be able relate to our own workplaces and create actions for. I would highly recommend taking the time to participate in this webinar as it was time well spent!"

Webinar information current as of May 4, 2010

With reports of an improved economic climate on the horizon, organizations must start preparing for the changing job market. Employees who were forced to maintain or take lesser positions will start to explore the market looking for increased benefits, flexibility and compensation. Now is the time to re-evaluate your organization's retention strategy in order to remain a competitive leader in your field. Join us as we explore strategies for retaining top performers within your organization.

Bonus - The following materials will be provided in this archived webinar:

• An article and handout on "10 Truths Your Employees Aren't Telling You: How Recognition Issues Are Costing You Turnover"
• Supporting paper
• Question and Answer (Q&A) document

Key Learning Objectives:

• three simple questions that will help boost retention potential
• a retention check for identifying your retention challenges and what can be done about them
• ten truths to keeping top talent (from recruiting to recognition)
• recognition strategies that don't cost and actually work
• retention tools for leading staff in a way that makes them want to stay
• knowledge of best practices for a recovering economy

Speaker:

Pauline F

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