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.
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Get the insights, strategies, and inspiration you need as an HR leader to meet the challenges of today’s workforce dynamics and better serve and lead your organization.
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Owners of trades businesses such as plumbing and HVAC outfits are becoming millionaires by selling their businesses. Gene Marks looks at who and what is behind this latest trend. Also on this episode, Gene shares the findings of a survey that shows nearly three-quarters of business owners plan to replace their point-of-sale systems. What will this …
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The Digital Leap: Elevating HR Strategies with AI Solutions — 2024 HR Tech Series
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23:18
In today's rapidly evolving HR landscape, technology is more than just a tool — it's a driving force reshaping the future of work. Ready to stay ahead? Join industry experts Stacey Harris and Cliff Stevenson from Sapient Insights Group for the second installment of our four-part series live from HR Tech 2024. Discover the latest trends and innovati…
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Job growth and hourly earnings growth remained moderate, according to the Paychex Small Business Employment Watch for September. Gene Marks shares details from President and CEO John Gibson, who notes that external influences such as upcoming elections and rate cuts factor into the data. In California, employers need to know about a new law that of…
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Trish Steed and Steve Boese on HR Trends Defining the Next Decade: 2024 HR Tech Series
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On this episode of Paychex THRIVE, Trish Steed and Steve Boese, from H3 HR Advisors, join us live from the show floor at HR Tech 2024. At this year’s conference, they note a marked shift from merely implementing technology for technology's sake to how it can genuinely enhance workplace dynamics and employee satisfaction. The emphasis is now on find…
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What Unfolded at HR Tech? AI, Products, and Insights from an Insider
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12:57
On this special edition episode of Paychex THRIVE Week in Review podcast, host Gene Marks welcomes Rob Parsons, Manager of Brand and Content at Paychex, to the show to shares firsthand insights from the HR Tech show in Las Vegas. AI, once again, topped the list but Rob also talks about how at this year’s show the emphasis was on demonstrating its c…
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How Professional Employer Organizations (PEOs) Are Supporting Employees and Businesses
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25:30
How do successful small businesses focus on growth while also juggling changing regulations, employee wellbeing, and all that HR paperwork? They enlist a professional employer organization (PEO). Join host Gene Marks as he sits down with Tami Tillery, Senior Manager, PEO Employee Benefits at Paychex, to discuss how PEOs can transform your HR operat…
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Fed Cuts Interest Rate, Businesses Need Proper Insurance, Labor Tops Inflation Among Concerns
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The Federal Reserve finally cuts the interest rate, but Gene Marks is tepid on how much a quarter-point will really spur the economy since banks are still making it difficult for small businesses to access capital. Still, he talks about it being a step in the right direction on this week’s episode, which also shares results of a survey that show 30…
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In this week's episode, Gene Marks discusses concerns from a recent Wall Street Journal report about rising credit card delinquencies and higher interest rates, noting that banks, including Citibank, are worried about consumer's abilities to manage their debts. This could lead to decreased consumer spending, which impacts businesses across various …
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Brewing Success: How Starbucks Boosts Small Business Growth
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25:13
A new study from two of Columbia Business School's brightest minds, Jinkyong Choi and Jorge Guzman, reveals a striking correlation between the opening of Starbucks locations and a subsequent increase in local business activity. Specifically, neighborhoods witnessing the entry of their first Starbucks saw approximately a 5% uptick in new businesses …
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Hourly earnings growth fell below 3% for the first time since January 2021, according to the Paychex Small Business Employment Watch, which indicates the labor market is softening. Job openings have also decreased to pre-pandemic levels, also noting a softening labor market. Gene Marks notes that it could create opportunities to hire. Employers loo…
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Small and midsized businesses are feeling pinched as banks hold on to money rather than loaning it out, citing an uncertain economic outlook. Gene Marks says there is still funding to support those in need – and it isn’t the half-point the Fed might cut interest rates. At least businesses in the service industry don’t have to deal with the DOL’s ti…
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With predicted healthcare cost hikes to be as high as 9% in 2025 and annual enrollment approaching in a few months, Gene Marks employers prepare now. Consider offering multiple plans at multiple prices, going the HRA route, or consider captive insurance potentially to offset costs. Gene also discusses the court battle about the FTC non-compete ban,…
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Consumer Spending Defies Inflation Fears, Small Business Owners Show Confidence, SBA Offers Line of Credit
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With July numbers in, the economy looks to be doing better than expected. Gene Marks points to an uptick in consumer spending, including with motor vehicle sales, and wages keeping pace with inflation. And even the inflation numbers look positive, although Gene says the rates for services such as childcare and insurance are skyrocketing and concern…
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At least one-third of business owners have widened their job search, according to a recent survey. These companies no longer require a bachelor’s degree for certain jobs, looking more so at the skills the applicants possess to do the role. Gene Marks says smart is smart and there are advantages to eliminating degree requirements. He also dives into…
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Earnings growth has shown modest gains for seven months, according to the Paychex Small Business Employment Watch, but the annualized 3.16% gain hovers right around inflation. Gene Marks explains what this could mean to businesses and employees. Business sale prices are up 25%, including a 17% jump in the service industry. Why? Millennials are buyi…
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Businesses might want to prepare for Great Resignation 2.0 after a survey revealed that 30% of employees said they plan to quit their jobs by year-end. Why? Poor pay, lack of satisfaction, but Gene Marks points out that there is one “benefit” that can satisfy the dissatisfied Millennials and Gen Xers from the survey. Job seekers are experiencing si…
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Worker Classification: Administrator Looman Explains Key Changes by USDOL
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32:24
Worker classification is complex and can be daunting for any business to navigate. In this episode of Paychex THRIVE, a Business Podcast, Gene Marks with Administrator Jessica Looman from the Wage and Hour Division of the U.S. Department of Labor the latest changes in regulations. Learn about the economic realities test, key definitions under the F…
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The cost of health benefits is rising, but employers say they are prepared to maintain their current employee health plans. Gene Marks shares news about a study that said nearly half of employers surveyed said they would cover the costs, and many would add alternative benefits. That’s good news considering other topics on this week’s episode reveal…
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Flexibility and Leadership in the Workplace
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28:35
With a multigenerational workforce, understanding the unique needs of each – Baby Boom to Gen Z – is crucial for your business in managing employees, as well as from the standpoint of recruitment and establishing a workplace culture. Host Gene Marks speaks with Diana Scott, U.S. Human Capital Center Leader at the Conference Board about shifting pri…
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The Recruitment Process: Navigating AI and Human Collaboration
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We explore the dynamic integration of AI in recruitment and talent solutions, as Operational President Dawn Fay of Robert Half shares her three decades of experience on Paychex THRIVE, a Business Podcast. The episode delves into the significant efficiencies AI brings to the candidate matching process, yet also emphasizes the importance of human int…
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The Paychex Small Business Employment Watch reports that employers keep adding jobs, although the pace is slowing. A report by the National Federation of Independent Businesses shows employers have solid hiring plans but nearly 40% failed to fill open positions – with 85% saying they had no qualified applicants. Another report says businesses are f…
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New Final OT Rule: What Businesses Must Know about Compliance
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16:25
With the U.S. DOL's New Overtime Rule taking effect July 1, FLSA-covered employers across the country are subject to the rule's updated salary thresholds for Executive, Administrative, and Professional white-collar exemptions and HCE employees. The DOL is, however, temporarily restrained from enforcing the rule against the state of Texas, as an emp…
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Education Missing on Job Postings, Taxing Unrealized Gains, and the Best and Worst Business States
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A study from job posting platform Indeed shows that 70% of postings in U.S. this past year did not include years of experience and education. Gene Marks shares insights on this trend, including that on-the-job training seems to be the preference. This episode also looks at the potential of an increased tax on small businesses based on a Supreme Cou…
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Strategic Succession Planning: Secure Your Family's Business Future
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36:58
American Crane in Pennsylvania is a perfect example of succession planning done right. President and CEO Karen Norheim shares the ins and outs of how the company she co-owns with her sister maneuvered from her late father to his daughters, and how they are now supporting and fostering the third generation. In her conversation with Gene Marks on Pay…
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CA Offers PFL Grants, Sales of Small Businesses Up, and NY to Outlaw Restaurant Reservation Bots
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Some employers in California can get some financial help to cover the expenses of having workers out on Paid Family Leave under a new grant program that offers up to $2,000 per employee. Gene Marks shares details, as well as spotlights the recent increase of the sales of small businesses – noting that it is an excellent way for the next generation …
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Recruitment Innovation: Dice.com Leverages Job Postings for Tech Hires
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29:19
What should an effective recruitment site have to draw interest from the top technology professionals? Gene Marks has a conversation with Art Zeile, CEO of the established recruiting platform Dice to find out more. Zeile shares insights on including culture and other aspects of your company to create a better picture for potential candidates, as we…
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DOL’s Overtime Rule, Increase in Job Growth, Capital Loan Program, and Businesses Not Offering 401(k) Plans
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10:43
Gene Marks delves into various key topics in this episode. He starts by discussing the impact of the Department of Labor's new overtime rule, effective from July 1. The rule not only adjusts financial thresholds for overtime pay eligibility but also emphasizes fair compensation across industries, urging businesses to align with these new norms. Vie…
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Redefining Small Business Operations in the Digital Age
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With technology evolving at lightning speed, small businesses are increasingly looking towards artificial intelligence (AI) and automation to streamline operations and foster growth. Irana Wasti, chief product officer at BILL, joins this episode of the Paychex THRIVE podcast to shed light on this trend. She highlights the transformative potential t…
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AI: Principles of Well-Being for Policies, a Google Rollback, Level the Business Playing Field
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Artificial intelligence is everywhere, so much so that the U.S. Department of Labor issued principles for developers and employers on worker well-being. Basically, as Gene Marks explains, this is a roadmap to create policies that offer protection and benefits in the deployment of AI at work. Why? Well, look at Google rolling back some features afte…
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CA CPA Spotlight: CalCPA CEO Says Learn from Tech, Change, and the Next Generation
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29:35
CalpCPA President and CEO Denise Froemming discusses the dynamic shift of the accounting profession and inroads being made to attract the next generation of savvy workers, including how to align the image of what a CPA could be more closely with the values of Gen Z. She shares with host Gene Marks on Paychex THRIVE, a Business Podcast, the reason f…
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Strategies for Today's Markets: Adapting to the New Investment Landscape
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32:39
On this episode of Paychex THRIVE, Gene is joined by investment guru Lyn Alden, founder of Lyn Alden Investment Strategy. They delve into the complex world of the stock market and examine the tactics needed to make successful investments. From using the traditional 60/40 portfolio model to selecting individual stocks to evaluating cryptocurrency, L…
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Some small businesses have brought a lawsuit against OSHA and its Walkaround Rule, objecting to an inspection policy that they call an overstep onto private property and something that doesn’t advance worker safety. Gene Marks tackles the subject, as well as a new trend called secret PTO by employees and what he calls the foolishness of a proposed …
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NY CPA Spotlight: Innovation and Recruitment Mark the Future of Accounting Profession
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29:57
Calvin Harris has one of the most geographically and economically diverse state accounting professional societies to oversee as CEO of the New York State Society of CPAs. He brings his diverse experiences to the role, emphasizing building relationships and partnerships while stressing key factors such as harnessing and leveraging AI to reinvent the…
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Matt Egan on the Latest Market Trends: Interest Rates, Inflation, and Meme Stocks
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With the Dow soaring to a record-breaking 40,000 and the market doubling from its COVID lows just four years ago, the current financial climate is buzzing with potential. Gene is joined by CNN Business Reporter Matt Egan to discuss this and other hot market topics on this week’s episode of Paychex THRIVE. Matt shares the impact a steady rise in the…
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New York has done what no other state in America has, but what will offering 20 hours of prenatal paid leave to employees – on top of other leave time they are entitled to under the law – mean to employers? Gene Marks has a few thoughts on the topic, including that this might become a national trend. Job openings are down one-third since 2022, but …
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Florida CPA Spotlight: How Will Specialization and AI Shape Accounting Profession?
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43:30
CEO Shelly Weir discovered that her notions of what CPAs were like differed from who they actually are when she came to the Florida Institute of CPAs. Putting aside the “number crunchers” concept, she has leaned into their strategic and critical thinking skills and their people-person approach to help revamp educational efforts to the next generati…
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Worker Classification 101: What Business Owners Need to Know
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This week on Paychex THRIVE, class is in session with Shefali Milczarek-Desai, a distinguished scholar and associate professor of law at the University of Arizona. She joins Gene to explore the complex subject of worker classifications as understanding its intricacies is more than a compliance exercise — it's an operational necessity. Shefali provi…
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NJ CPA Spotlight: Raising Awareness, Building Talent Pipeline to Unlock Potential of Next Generation of CPAs
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34:36
Aiysha “AJ” Johnson, CEO and Executive Director of the New Jersey Society of CPAs, says raising awareness at an earlier point in the education process is key to creating a successful pipeline in the accounting profession. The validation of that choice comes when individuals realize the many avenues a CPA can take to help any business in any industr…
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A revamp of the lending structure has some people praising a more streamlined process to get an SBA loan, while others are mad at the additional complexities involved. Regardless, Gene Marks says SBA loans are still a great way to go for small businesses seeking funding. A study finds that pet bereavement leave has many advantages – recruitment, th…
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AI Policy and R&D Tax Credits: Empowering Businesses
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33:35
On this episode of Paychex THRIVE, U.S. Senator Todd Young (R-Indiana) joins host Gene Marks to discuss the role of lawmakers in fostering AI innovation, its security, and risk mitigation. Senator Young dives into the bipartisan AI policy work he’s currently conducting in the Senate; sharing how this collaborative approach and thoughtful legislatio…
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A nearly two-year trend in deceleration of hourly earnings growth ends as the Paychex Small Business Employment Watch shows a 3.34% increase in April. Gene Marks highlights other data from the report that business can use. One thing businesses are using more of is credit cards, and Marks says that if done properly, that’s OK, especially with high i…
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Texas CPA Spotlight: AI’s Impact, Expanding Role of CPAs, and Diversity in the Accounting Profession
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Jodi Ann Ray, CEO of the Texas Society of CPAs, talks about the efforts of TXCPA to create a better pipeline in the accounting profession that faces gaps with an upcoming retirement wave, including leveraging AI and other technology to drive growth and expand the advisory role of CPAs. She also acknowledges the need for more diversity and inclusion…
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The Potential for Employee-Owned Businesses in the AI Era
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On this episode of Paychex THRIVE, distinguished labor economist and Harvard professor Dr. Richard Freeman joins host Gene Marks to navigate the future of work in an era of rapid technological advancement. With the rise of artificial intelligence (AI) and significant shifts in labor economics, the debate around employee ownership becomes more relev…
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Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses …
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PA CPA Spotlight: Accounting Firm Challenges – Modernization, Talent Gap, and More
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31:12
Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues…
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A Future Fueled by AI: Major Shifts in the Labor Market
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33:32
Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting busine…
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Starters Buying Businesses, Tipping is Tiring, and What is the Best State to Open a Business?
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Looking to start a business? The trend is to buy a business rather than start from scratch, and a recent report shows small-business acquisitions up 10% from the previous year and 3% in the last quarter. Some experts say new borrowers are accepting high interest rates as normal. And if you’re opening a business, another survey found Ohio has all th…
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Texas Restaurant Association CEO Dishes on Membership Value, Tipping, and Childcare Initiative
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35:42
President and CEO Emily Williams Knight helped guide the Texas Restaurant Association and its tens of thousands of members through the COVID-19 pandemic and continues to advocate for legislation that will help restaurants thrive. She shares stories about the industry association’s efforts on Paychex THRIVE, a Business Podcast, to educate and benefi…
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Who wouldn’t take an 88.5 on a test? It’s passing. Sadly, the National Federation of Independent Small Businesses Optimism survey isn’t a test – and 88.5 is not great. In fact, it is the 27th straight month that the survey has shown less than optimistic results. Gene Marks takes a look at what might be causing the steady dip, plus he talks about ho…
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WNBA Drafted a Business Pioneer and Advocate for Women Leaders
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34:21
Cathy Engelbert has shattered a few glass ceilings in her career – first woman CEO of Deloitte and first WNBA commissioner – while still battling the gender imbalance in leadership roles. She shares her journey with Gene Marks on Paychex THRIVE, a Business Podcast, starting with her formative years, her decision to be a working mother while strikin…
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