DiscoverPaychex THRIVE, a Business Podcast
Paychex THRIVE, a Business Podcast
Claim Ownership

Paychex THRIVE, a Business Podcast

Author: Paychex, Inc.

Subscribed: 13Played: 478
Share

Description

Join host Gene Marks for Season 3 and hear timely insights on marketplace conditions, proposed legislation, innovations, research, and success strategies from industry leaders, lawmakers, experts, and icons to help you propel your business forward and THRIVE.
359 Episodes
Reverse
In this episode of the Paychex THRIVE Week in Review podcast, host Gene Marks delves into the upcoming increase in minimum wages across several states, including California, and ponders the possibility of a national minimum wage change. Shifting gears, Gene examines the evolving landscape of remote work, highlighting a study revealing that many bosses regret their initial return-to-office decisions. He emphasizes the importance of flexibility and taking employee needs into account when formulating work-from-home policies. Lastly, Gene explores the benefits of Employee Stock Ownership Plans (ESOPs) and their potential advantages for both business owners and employees. He cautions listeners about recent IRS scrutiny of ESOPs, emphasizing compliance and proper setup. Tune in for valuable insights on these timely business topics. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Employers who want to retain good employees might have to buy them comfortable cushions for their long commute to work. Seems super-commuting – traveling distances of up to 300 miles one way per day – is becoming popular. Gene Marks offers a few tips on how to manage this trend. He also puts on his CPA hat to warn against scammers grabbing your data from public records to steal any potential tax refund. And even the latest employee-preferred benefit is a shock: coverage for weight-loss drugs. They’ve done surveys and the numbers don’t lie. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
What would you think about working one less day and 8 fewer hours each week plus be eligible for overtime pay on a daily basis and benefits? It’s been introduced in the U.S. Senate, but Gene Marks shares a similar view as its detractors – it would crush small businesses, who have also seen their contracts with the U.S. government fall by one-third over the past decade because of restrictive regulations and legislation. Any thoughts on data collection auto insurers? Gene shares insights on why he isn’t opposed. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Actor, producer, recording artist, and entrepreneur Queen Latifah shares on this episode of Paychex Thrive, a Business Podcast, what she feels are the biggest challenges facing millions of women-owned businesses. She comments on the disparate funding from venture capitalists that direct less than 5% of all dollars to women-owned businesses and to the lack of recognition for women already in powerful positions. She advises women to keep up the fight, but also to ensure they are practicing self-care and living in the moment.    Topics Include: 00:00:00: Episode Summary 00:00:35: Welcome 00:00:50: Introducing guest Queen Latifah 00:01:53: Lenovo's Evolve Small campaign 00:04:24: Funding and other issues women-owned businesses face 00:06:41: Advice for women entrepreneurs 00:08:02: Support for women in business 00:10:35: Importance of self-care 00:11:40: Women are present, they need to be recognized 00:13:34: Drawing inspiration 00:16:45: Living in the moment 00:19:50: Women in higher places need to be accountable, too 00:21:30: Equal Pay for women 00:22:40: Channel setbacks into something positive 00:25:01: Aspiring for a better world 00:25:59: Wrap-up, thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.  
The gig might be up for gig workers. The DOL’s independent contractor worker classification rule went into effect March 11 and businesses using 1099 workers need to reclassify individuals properly – and possibly make them employees – to stay compliant. Gene Marks says it’s going to create some havoc before it’s all sorted out, including potential challenges in court. Small businesses did get a win when the SBA announced an improved Lender Match tool that will make the funding search easier. And Gene advises Millennials to buy businesses from retiring baby boomers amid a generational wealth transfer that could be in the $90 trillion range. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
After nearly a quarter century in the restaurant and hospitality business, Jeanne Cretella has seen major swings, and the President of Landmark Hospitality shares her thoughts with Paychex THRIVE, a Business Podcast, on what works and what doesn’t in the industry. Cretella says restaurants and hospitality should always be about service, and that eliminating tipping and proposing steep minimum wage hikes will kill the industry. She tells Gene Marks that building a culture is critical, how the industry still is great as a career path, and why joining an industry association can help your business stay out of compliance hot water. Topics Include: 00:00: Opening preview 00:01:31: Introduction to Jeanne Cretella 00:02:15: Jeanne's journey with Landmark Hospitality 00:05:19: Employment opportunities in the restaurant industry 00:07:07: Restaurant industry as a potential career path 00:11:21: Importance of instilling company culture 00:14:08: Employee recruitment 00:17:27: Thoughts on the four-day work week 00:20:15: Industry trend – flexibility in workplace 00:21:37: Tipping in restaurants 00:26:09: Minimum wage increase in fast-food industry 00:29:04: Surcharges for using credit cards 00:34:04: The importance of participating in industry associations 00:34:59: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
As the economy moderates, so too is job growth. Gene Marks offers some insights as to what the data from the latest Paychex Small Business Employment Watch is showing business owners. Fast-food restaurant chain Wendy’s announced the testing of dynamic pricing and customers weren’t happy, so Wendy’s flipped. Is dynamic pricing the future pricing model? How do you feel about a personal escort while shopping? One hardware store owner floated the approach to combat the spike in shoplifting, but Gene says there might be hidden costs. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Business owners cannot wait until AI is full-proof or they will be out of business, according to longtime technology journalist, author, and business owner Kara Swisher. Businesses need to get comfortable with what AI is doing now and can do for them, and then be adaptable as it changes. Swisher speaks with host Gene Marks on Paychex THRIVE, a Business Podcast, about the ever-changing business-tech landscape, including why AI is a tool and should be treated as such, how some social platforms are better than others for digital ad ROI, why security is almost nonexistent and the government allowed it, and much more.    Topics Include: 00:00: Episode Preview 01:32: Introduction to Kara Swisher 03:10: Discussion about Kara's new book on tech 07:24: Transition from being a journalist to a business owner 09:55: Insights on contracts and work relationships 11:01: Marketing insights on social media 21:26: Tech is a tool and still adapting 24:39: Security and privacy in tech 26:13: Need for stricter data regulation 28:00: Discussion on Augmented and Virtual Reality devices 32:01: Why Climate Change Tech would be a good job 34:38: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
A recent survey finds that while the majority of small business owners are in favor of a minimum wage hike, half of respondents also feel that an increase would negatively impact their businesses. Host Gene Marks understands this paradox and explains why business owners would have these contradictory opinions. Gene also touches on the new workplace phenomenon called coffee badging and why one CEO isn’t opposed to this practice, as well as a new editorial in the Wall Street Journal that cautions against the slippery slope of new unrealized gains taxes 10 states are currently flirting with. Listen to the episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Claire Jarrett is a businesswoman, author, and expert on digital marketing, and she says that data tracking is crucial to understanding how to craft your online ads, messaging, and campaigns. Gene Marks chats with Jarrett on Paychex THRIVE, a Business Podcast, about keywords, industry tools, consumer behavior, the shift on cookie tracking, and much more, and shares insights and ad-building tips that could help your business achieve success with its digital marketing efforts.   Topics Include: 00:00: Episode Preview 01:08: Introduction of Claire Jarrett 02:37: Impact of change with cookies and tracking 05:39: Difference between advertising on Google and YouTube 07:27: Advice on tools to help create ads 09:27: What is a keyword and a negative keyword? 11:47: Behavior and why consumers click on ads 13:30: Tips on writing an effective digital ad  14:43: Different types of digital ads 15:38: What is a retargeting campaign? 17:35: What makes a good landing page? 19:27: Why testing ads is important 21:09: Verifying data through independent tracking 26:27: Jarrett Digital’s approach to clients and consulting 28:24: Impact of AI on future of digital marketing 30:00: Identifying the perfect client? 31:00: Wrap up and thank you   DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.  
A new law takes effect in New York state that requires businesses to be transparent about credit card surcharges while also capping what businesses can charge patrons who use credit cards. Host Gene Marks says he favors this approach and shares insights on this and a few other news items, including the potential expansion of Paid Family Medical Leave in New Jersey and Pennsylvania to include small businesses, and the push for the creation of emergency savings accounts for employees. There are a lot of complexities being created and Gene explains why. Listen to the episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
In today’s ever-changing business landscape, understanding the economy, national debt, and their impact on your trade is a crucial tool. On this episode of Paychex THRIVE, former Federal Reserve economist, Bloomberg columnist, and founder of Sahm Consulting, Claudia Sahm, offers valuable insights to help listeners navigate the complexities of the U.S. economy. She discusses its key aspects, ranging from the role of treasury securities and national debt to the impact of fiscal policies on national economic health. Learn about the unique credibility of U.S. debt securities and how international demand for these assets bolsters the nation's ability to manage its rising national debt sustainably.   Topics include: 00:00 – Welcome Claudia Sahm 01:14 – Introduction to Claudia Sahm's background and work history 03:14 – Discussion on the U.S. economy and national debt 04:36 – Importance of focusing on tax and spend policies 06:58 – Claudia’s perspective on the sustainability of government deficit 09:13 – Considerations for future economic policies 11:31 – Discussion on the size of the federal government as it relates to the national debt 13:03 – Importance of reliable government data 14:02 – Claudia’s advice on utilizing data in decision-making 16:02 – Importance of regional and industry-specific data 17:31 – Key metrics to track for understanding the economy 19:15 – The influence of the labor market and consumer spending on the economy 20:25 – Weighing government data against private sector data 21:20 – Discussion on data sources 23:50 – Economic forecast for the near future 28:41 – Influence of presidential elections on the economy 32:23 – Wrap up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Unless you’re Taylor Swift, working for Taylor Swift, or dating Taylor Swift, your business might not be doing as well in the marketplace. At least that’s what recent numbers show, with job vacancies open but 14% of small-business owners indicating they aren’t hiring over the next three months. Gene Marks takes a look at a recent report, plus shares some poor productivity numbers following the Super Bowl and the astronomical economic impact you could experience if you hitch your business in any way shape or form to Taylor Swift’s concerts or her favorite NFL team. Listen to the podcast for details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Businesses in New York state and New York City have tremendous opportunities presented through Empire State Development, the economic development arm of state government that provides support to small businesses and helps implement initiatives. President and CEO Hope Knight chats with host Gene Marks on Paychex THRIVE, a Business Podcast, about how the funding works for training and workforce development, available tax credits, and the push for film industry and biotech industry advancements in the state. Topics Include: 00:00: Opening 01:06: Introduction of Hope Knight, CEO of Empire State Development 02:48: What is Empire State Development 04:17: Programs available for small businesses through ESD 05:01: What is the State Small Business Credit Initiative 07:22: Where is the focus of ESD funding 10:25: What industries is ESD focused on for funding and workforce development 14:13: How funding flows to programs that provide training and distribute funds 17:33: Benefits to hiring the formerly incarcerated 22:14: Available tax credits for hiring formerly incarcerated 24:09: Specific programs aimed at film industry in New York City 25:33: Opportunities around biotech industry in central New York 26:48: Wrap-up and thank you   DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.  
Data from the Paychex Small Business Employment Watch shows job growth continues strong and hourly wage growth is also up. Gene Marks shares insights on how employers can use this data to their advantage. Legislation to extend the research and development tax credit at the expense of the employee retention credit passes one chamber of Congress. The SBA rebrands a crucial program to make it more accessible, including adding training that might boost the percentage of businesses that successfully obtained a federal contract and a key revenue source beyond the 60% from 2023. Listen to the podcast for more. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
TV celebrity of “Restaurant: Impossible” and restaurateur Robert Irvine has a new book out titled, “Overcoming Impossible” that says that it doesn’t matter who you are or where you come from, success is attainable. He shares insights with host Gene Marks about finding and hiring the right people, leading those people, taking calculated risks, and listening to new ideas. He also says you need a system, that system should have rules, and don’t be afraid to fail. Listen to the Paychex THRIVE podcast to hear what other advice he has and why he travels 345 days a year to make it all work. Topics Include: 00:00: Introduction 01:22: Defining impossible 04:47: Hiring and working with younger generations 08:47: Listening and taking suggestions in a business 09:31: Dealing with employee turnover 13:48: Learning from failure with analytics 16:59: What work-life balance? 21:07: Where Irvine came from and why he gives back 22:12: Understanding different work ethics 24:12: Risk-taking and believing in yourself 29:53: P&L and ROI in the restaurant industry 34:28: Leadership in business 37:04: Wrap-up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.    
One recent study shows that full potential productivity gains through the use of generative artificial intelligence might be six to 10 years away. A different study at MIT revealed that in for certain aspects of work, only in a quarter of the jobs – 25 % - did it make financial sense to use AI. The numbers weren’t tipping favorably toward AI, but Gene Marks says these are the early days of understanding what AI can do and talks about his experience with one such AI tool. Listen to the Paychex THRIVE Week in Review podcast for more. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
If you’re running a business, a herring fisherman baited the hook with a case now before the Supreme Court that might limit a federal agency’s power to expand on a ruling to further regulate your business. Gene Marks says this could make many businesses happy, maybe as happy as the news that the American consumers are upbeat about the economy and continuing to spend. Gene Marks shares some insights on the news, including the benefits employers are finding with an older workforce. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Retired Army Gen. Stanley McChrystal says at the core of good leadership is communication and clear direction, whether commanding troops in battle or leading your team on a business project. He speaks with host Gene Marks on the Paychex THRIVE podcast about good leadership qualities such as self-discipline, adjusting your approach as you gain more experience, getting your hands in the mix regardless of title, and surrounding yourself with people whose skillsets and thought processes augment yours – not duplicate them.   Topics Include: 00:00: Opening quote on leadership 01:01: Introduction of General Stanley McChrystal 02:19: Discussion on leadership 08:05: How do age and experiences impact leadership 11:37: Building a team around a good leader 16:02: Demonstrating leadership through actions 20:48: Comparison of running a military outfit vs. a civilian business 21:43: Setting clear standards and expectations in business 24:15: The importance of transparent communication 25:22: Lessons learned and appreciating successes 26:14: Implementation of effective training 27:44: Identifying key influencers and driving changes 30:39: Wrap-up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
With the release of the Final Rule on Employee or Independent Contractor Classification by the U.S. Department of Labor, businesses will have to audit their workforce to determine if individuals are classified properly under the Fair Labor Standards Act. The rule takes effect March 11, 2024, unless it is challenged in court and enjoined. Gene Marks explains the six factors businesses have to consider when analyzing a worker’s classification, and why the financial stakes are so high if improperly done. Listen to the Paychex THRIVE Week in Review podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
loading
Comments 
Download from Google Play
Download from App Store