The episode features a cybersecurity professional who helps keep businesses safe. Please welcome Vice President of Information Security at Asure, Josh Gohman. Josh joins the show to share what things businesses need to be looking out for. Josh shares why being smaller doesn’t necessarily mean you are safer, how to implement best practices, and some of the common methods attackers will use.

Takeaways:

• There are various phishing tactics, such as manipulating urgency to prompt immediate action and exploiting trust in familiar systems like Office 365. Phishing is not limited to large corporations but also impacts small businesses due to attackers' ability to scale.
• Attackers' methods range from tricking employees into divulging credentials to directly infiltrating payroll systems. Awareness and stringent security protocols are crucial in mitigating these risks.
• Internal staff are vulnerable to email hacks that compromise credentials, enabling hackers to impersonate them and alter bank account details in the payroll system, train employees to promptly identify and report suspicious activities.
• It’s important to have proper training in place to ensure that security risk is held to a minimum. Businesses should adhere to appropriate record retention policies, disposing of unnecessary sensitive information promptly to minimize liability.
• Discussing how establishing clear processes for managing exceptions such as out-of-cycle payments and unusual requests is essential to mitigate risks and keeping your data secure.
• A multi-layered approach to payroll security, encompassing employee training, vendor vetting, physical security measures, and robust process management, is crucial for any business, regardless of size.

Quote of the Show:

• “In some cases, you're smaller, you're more vulnerable.” - Joshua Gohman

Links:

• LinkedIn: https://www.linkedin.com/in/joshuagohman/
• Company Website: https://www.asuresoftware.com/

Ways to Tune In:

• Spotify: https://open.spotify.com/show/2XThTdn7YC1lkAm0PgZUkj
• Apple Podcasts: https://podcasts.apple.com/us/podcast/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent/id1725890976
• Amazon Music: https://music.amazon.com/podcasts/328dddd0-3c4f-4b07-a0d3-13bdcb418486/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent?refMarker=null
• Audible: https://www.audible.com/pd/Mission-to-Grow-A-Small-Business-Guide-to-Cash-Compliance-and-the-War-for-Talent-Podcast/B0CS71KQFM?qid=1706208857&sr=1-1&ref_pageloadid=not_applicable&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=A1ME8MBECSVZ6K4D7CNT&pageLoadId=QBtg12mqKsuZPLGY&creativeId=0d6f6720-f41c-457e-a42b-8c8dceb62f2c
• Podchaser: https://www.podchaser.com/podcasts/mission-to-grow-a-small-busine-5591006

The new HR Benchmark Report is in! With over 1,000 businesses surveyed, the report aims to correlate HR best practices and revenue growth by asking binary questions about whether or not firms follow certain HR practices. Here to share insights is VP HR Compliance and Learning and Development at Asure Software, Mary Simmons!

Mary joins host Mike Vannoy to discuss recruitment and hiring processes, such as job descriptions, background checks, job postings, and interview practices. Mary emphasizes the importance of compliance and consistency in these practices and how they contribute to business success.

Takeaways:

• Importance of Compliance: Fast growth firms exhibit higher compliance with HR best practices, which directly correlates with their success. Ensuring legal and regulatory compliance in job postings, interviews, and applications can significantly impact business growth.
• Role of Background Checks: Fast growth firms are more likely to conduct background checks (81% versus 65% in zero-growth firms). This demonstrates a commitment to hiring trustworthy, qualified individuals, even at a nominal cost.
• Consistency in HR Practices: Consistency in applying HR practices such as job descriptions, interview processes, and compliance checks reduces litigation risk and ensures fair comparison of candidates, boosting overall hiring success.
• Detailed Job Descriptions: Having detailed, compliant job descriptions is crucial for all job openings. It not only meets legal requirements but also helps in setting clear expectations and better performance management.
• Structured Interview Processes: Effective and compliant interview processes that focus on job-related questions help in assessing candidates' competencies and cultural fit more accurately. Behavioral questions can provide deeper insights into a candidate's potential performance.
• Regular Updates and Training: Regularly updating HR practices and providing training for compliance helps in keeping up with changing laws and standards. This is especially relevant for issues like salary transparency and preventing discriminatory practices in job ads.
• Investing in HR Pays Off: Companies that invest in proper HR practices, including background checks and thorough compliance, see better growth. Proper HR management contributes to hiring the right people, which is essential for business success.

Quote of the Show:

• “No company is going to be successful without the right people.” - Mary Simmons

Links:

• LinkedIn: https://www.linkedin.com/in/marysimmonshrconsultant/
• Company Website: https://www.asuresoftware.com/
• HR Benchmark Report: https://www.asuresoftware.com/2024-hr-benchmark-report/

Ways to Tune In:

• Spotify: https://open.spotify.com/show/2XThTdn7YC1lkAm0PgZUkj
• Apple Podcasts: https://podcasts.apple.com/us/podcast/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent/id1725890976
• Amazon Music: https://music.amazon.com/podcasts/328dddd0-3c4f-4b07-a0d3-13bdcb418486/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent?refMarker=null
• Audible: https://www.audible.com/pd/Mission-to-Grow-A-Small-Business-Guide-to-Cash-Compliance-and-the-War-for-Talent-Podcast/B0CS71KQFM?qid=1706208857&sr=1-1&ref_pageloadid=not_applicable&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=A1ME8MBECSVZ6K4D7CNT&pageLoadId=QBtg12mqKsuZPLGY&creativeId=0d6f6720-f41c-457e-a42b-8c8dceb62f2c
• Podchaser: https://www.podchaser.com/podcasts/mission-to-grow-a-small-busine-5591006

Joining the show this week is a retirement processional with over 20 years of experience who helps people save for their futures. Please welcome to the show, Director of Plan Design Consulting at Vestwell, Kevin Gaston.

Kevin joins Host Mike Vannoy to dive into the benefits and effects of Secure Act 2.0. Kevin shares the different types of tax credits available to employers, the way to use vesting periods to your advantage, and why benefits are better for retention than pure salary alone.

Takeaways:

• Secure 2.0 modernizes retirement rules by making it easier for individuals to save by encouraging employers to implement 401k plans and offer matching contributions through tax credits.
• To maximize startup credits under Secure 2.0, ensure your company benefits from the increased credit of 100% of costs for companies with fewer than 50 employees and consider making contributions to employee accounts.
• For qualifying businesses, Secure 2.0 offers a credit for qualifying employer contributions. The first two years are matched at 100% through credits, the 3rd year is 75% match, the 4th is 50%, and the 5th is 25% before expiring.
• The primary concern for small businesses regarding automatic enrollment in a 401k is the potential for employee backlash. To avoid this, small business owners should proactively communicate any changes to payroll.
• To enhance employee satisfaction, shorten vesting periods to one to two years and consider offering end-of-year bonuses for immediate incentives. Streamlining these benefits can make them more appealing and ensure employees value them more highly.
• Employees with student loan debt can benefit from student loan matching, where repayments are counted as retirement plan contributions for matching purposes. This allows individuals to build their retirement savings while still making loan payments.

Quote of the Show:

• “Benefits on a dollar basis buy more goodwill than dollars do.” - Kevin Gaston

Links:

• LinkedIn: https://www.linkedin.com/in/kevingaston/
• Company Website: https://www.vestwell.com/

Ways to Tune In:

• Spotify: https://open.spotify.com/show/2XThTdn7YC1lkAm0PgZUkj
• Apple Podcasts: https://podcasts.apple.com/us/podcast/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent/id1725890976
• Amazon Music: https://music.amazon.com/podcasts/328dddd0-3c4f-4b07-a0d3-13bdcb418486/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent?refMarker=null
• Audible: https://www.audible.com/pd/Mission-to-Grow-A-Small-Business-Guide-to-Cash-Compliance-and-the-War-for-Talent-Podcast/B0CS71KQFM?qid=1706208857&sr=1-1&ref_pageloadid=not_applicable&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=A1ME8MBECSVZ6K4D7CNT&pageLoadId=QBtg12mqKsuZPLGY&creativeId=0d6f6720-f41c-457e-a42b-8c8dceb62f2c
• Podchaser: https://www.podchaser.com/podcasts/mission-to-grow-a-small-busine-5591006