Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent

Scaling to between 50 and 149 employees is a critical growth phase that brings new challenges in HR, compliance, and company culture. In this episode of MTG, Mike Vannoy, Mary Simmons, and Brian Shenker explore the essential strategies businesses need to navigate this transition successfully. From training managers and establishing structured HR processes to ensuring compliance with FMLA, ACA, and EEO reporting, they break down what it takes to maintain efficiency and legal adherence as your workforce expands. Tune in to learn how to build a strong HR foundation and prepare for the next stage of growth.  Takeaways: As your company grows beyond 50 employees, it's essential to set up a dedicated HR function. This will ensure compliance with labor laws, streamline HR processes, and maintain productivity. The founder's direct influence on company culture diminishes as the company grows. It's crucial to train managers to manage both people and processes, ensuring that they maintain and propagate the established culture effectively. If you have 50 or more employees within a 75-mile radius, you must comply with the Family Medical Leave Act (FMLA). This includes understanding eligibility, managing leave requests, and ensuring employees can return to their positions after leave.Companies with 50 or more full-time equivalent employees must offer health coverage that meets ACA standards. Understanding how to calculate full-time equivalents is critical.If you sponsor retirement and health plans, you may need to file Form 5500 with the IRS, especially if you have more than 100 participants. Work with your plan administrator or service provider to ensure accurate and timely filing to avoid penalties.When your company reaches 100 employees, you are required to submit EEO-1 reports, which include demographic data. This helps in maintaining compliance with federal non-discrimination laws. Stay informed about changes to affirmative action requirements, especially regarding DEI practices. Recent executive orders might affect compliance requirements for federal contractors. Regularly review and update your HR policies to ensure they meet current regulations and best practices. Quote of the Show: "If you're making a mistake in HR now, it might not just be affecting one person. It might be a whole group of employees, which exponentially increases that exposure"  Links: Asure Software: https://www.asuresoftware.com/ Mary’s LinkedIn: https://www.linkedin.com/in/marysimmonshrconsultant/  Brian’s LinkedIn: https://www.linkedin.com/in/brian-shenker-53708712/  Brian’s Company Website: http://www.jacksonlewis.com FMLA Episode: https://www.youtube.com/watch?v=N7a_4r61Vm4&t=1s  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