The rise of remote work has been a key silver lining for U.S. workers in the wake of the COVID pandemic. Three years later, working from home remains popular amongst younger members of the workforce. Despite the recent headlines of companies trying to force their employees back to the office, remote work is not going anywhere.
According to a recent survey from Robert Half (NYSE: RHI), nine in ten workers who said they were considering changing jobs noted a preference for hybrid or fully remote opportunities. In fact, nearly a third of workers who are required to go into the office at least one day a week have stated their preference for taking a pay cut in exchange for a fully-remote position. Furthermore, Robert Half noted that 28% of all new job postings in January 2023 were categorized as remote positions, compared to 29% in January 2022.
As workers dig in and refuse to give up on remote and hybrid positions, businesses will increasingly need to ensure their payroll tax registration and compliance requirements are met across federal and state laws. For small-to-medium businesses (SMBs), this presents a potential headache, along with higher costs to attract and retain quality employees.
However, Asure Software (NASDAQ: ASUR), through its latest partnership with Harbor Compliance, seeks to provide SMBs with a streamlined solution for this issue.
Asure & Harbor Compliance Partnership Combines HCM With Multi-State Compliance Solutions
The economy is at an important junction currently, which has been characterized by the highest interest rates & inflation in decades. This, in turn, has led to rising costs across the board from goods & services to labor and more. For larger enterprises, these higher costs are likely more easily absorbed than compared to SMBs. For SMBs to stay competitive while controlling costs, they need to leverage technology-based solutions in human capital management (HCM) and human resources, which can help streamline back-office operations without increasing their headcount.
This is exactly where companies like Asure Software come into play and fill this cost-cutting need for SMBs. Asure’s comprehensive cloud-based HCM platform provides an all-in-one solution for smaller businesses to streamline and manage their payroll, taxes, employee time & attendance, retirement offerings, and other elements under the umbrella of human resources.
Asure’s latest partnership with Harbor Compliance effectively expands its existing comprehensive HCM platform to now include multi-state regulatory compliance solutions. Maintaining proper payroll and taxation compliance with each federal, state, and local governing entity is essential for SMBs to offer their employees the ability to work remotely or under a hybrid model.
Unfortunately, labor laws are constantly changing, which can place an unreasonable cost burden on SMBs to ensure they remain compliant with any changes at the federal, state, or local levels. However, the integration of the Harbor Compliance platform with Asure’s HCM solutions provides SMBs and nonprofits with the ability to ensure labor regulations are met throughout the United States. In other words, Harbor Compliance effectively helps SMBs streamline their labor compliance by simplifying license and registration requirements at the federal, state, and local levels.
“Out-of-state hiring poses specific challenges for businesses needing to set up tax registrations and process payroll efficiently,” stated James Gilmer, Strategic Partnership Manager of Harbor Compliance. “Growing companies need a solution that keeps pace.”
Asure Wraps Up Q1 2023 With Several New Partnerships and Integrations
Asure has made a handful of major new partnerships and integrations through the first three months of 2023. The company’s latest partnership with Harbor Compliance joins H&R Block (NYSE: HRB), Intuit (NASDAQ: INTU) TurboTax, and ZayZoon, which were announced earlier in the year.
The H&R Block and TurboTax partnerships were enacted to provide SMB employees with the ability to streamline their tax filing process. This is an important perk and feature that SMBs can use to attract and retain quality employees, considering that TurboTax and H&R Block are the numbers one and two market leaders in the consumer tax prep services industry. With Tax Day just around the corner, these integrations are likely providing much-needed streamlining support to SMB clients’ employees.
The ZayZoon partnership provides another tool for SMB employees to gain access to financial wellness and earned wage access solutions. With the ZayZoon integration, employees can access their earned wages even faster, which can help alleviate financial pressure and provide employees with greater peace of mind. Allowing employees to access their earned wages in real-time is yet another important tool for SMBs to retain and recruit key talent in the labor force.
Overall, Asure Software provides an impressive solution for SMBs because they are always looking for ways to help their clients with new features, new partnerships, and capabilities. For SMBs, this is a huge advantage, not only to help cut costs and streamline operations but to also remain competitive in recruiting top-tier workers.
The latest partnership with Harbor Compliance is just the latest example of Asure adapting and providing its clients with solutions that look to solve current challenges. Work-from-home and hybrid working are not going away, no matter how much some big companies kick and scream for employees to return to the office. The statistics and preferences are very clear…workers are willing to take pay cuts to preserve their flexible working conditions. By offering streamlined compliance with payroll and taxation regulations across all 50 states, Asure’s SMB clients now have a competitive advantage against these major enterprises that are trying to force a return to office by potentially attracting their former workers that left in pursuit of a more flexible working environment.
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The post With Remote Work Here to Stay, Asure’s (NASDAQ: ASUR) Partnership With Harbor Compliance Will Help SMBs Navigate Multi-State Payroll and Labor Regulatory Requirements appeared first on Spotlight Growth.
