Can you pass up $10,000 an hour?

Big Impact below the EBITDA line!

Can you you pass up $10,000 per hour?  As I’ve worked with many companies over the years I know that managing their business can be challenging. I was thinking thru the math of one client who couldn’t find the time to take advantage of work opportunity tax credits. She hired a lot of hourly employees and in her industry about 1 out of 2 generally qualify for employer tax credits  at an average of $2,400 each.

So I did the math on the 3 steps it takes to manage the process to get the credits. #wotc #payroll

  1.  It takes less than one minute to send the screening link to applicants prior to their interview,
  2.  Once the decision to hire is made, it takes another minute to log in and convert the applicant to “hired” along with the hire date
  3. Any when the credits come in from the state he just needs to update payroll information to verify that the employee hours worked, maybe 5 minutes

So for 7 minutes work, to get $1,200 (1 of 2 qualify for $2400) is just over $10,000 an hour!  Can you pass up $10,000 an hour?

OK, I’m having a bit of fun but the numbers may not be far off for most employers and some may exceed my example. Calculate your estimate.

#wotc #payroll

Jim Stowe runs Instigate, a Mt Clemens Michigan based consulting organization as

CHIEF INSTIGATOR of: HR EFFICIENCY ,TAX REDUCTION & COST OPTIMIZATION.

Jim has an extensive background in HR services including over 30 years at companies such as ADP, General Mills and Liberty Mutual among others and holds a Master’s Degree in International Business from Central Michigan University

Jim Stowe
We will be happy to hear your thoughts

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