NewsPod (Episode 3)

[00:00:00] Brian: Welcome back, folks. This is Our great new news pod for you. What's up? Well, how you doing today?

[00:00:07] Walt: I'm good, Brian, man. I'm good. This is the third one of these. Yes, sir. I'm excited for it. Me too. And I'm getting the hang of it, yes. This is something that is going to become a

[00:00:20] Brian: mainstay here.

[00:00:24] Walt: So I'm looking forward to it, man. How are you doing?

[00:00:27] Brian: I'm good, man. I'm good. I'm excited, man. I love where we're at. Can't wait to see where we're going, man. And just continuing to deliver products. I love it, man. I love it.

[00:00:37] Brian: Empowerment has been the word we use a lot in the last few weeks. And it's been a, is a part of our brand, right? We want to empower the payroll people with. Information, knowledge, tools an edge, get ahead, right? Everything you possibly can. Folks, we were at a point in our careers when we were first starting out where we were like [00:01:00] just begging for resources and it's gotten better over the years, right?

[00:01:04] Brian: And now we're part of that resource, and I'm so proud to be a part of that resource for payroll people. And that's it, this is, yeah man, it's just a continuation of it, this is our news pod we we have written materials we'll, there'll be written materials out there for you guys, but everybody does a newsletter.

[00:01:23] Brian: So our, we deliver an audio video already. So we say, Hey, do away with the newsletter. And we're going to do a news pod for folks real quick, little snippet, not long. You want a long show, go look up the shows, go see what you want. But this is just going to be, we're always going to give you a little tidbits to keep it moving.

[00:01:41] Brian: Keep you smart, keep you updated, give you stuff to be dangerous, what is it I don't know, get people motivated to go research more if they want. And then, and that's it, man. We want to start off today. You want me to start it off?

[00:01:54] Brian: Go ahead. Go ahead. Okay, cool. So I got what I got four quick [00:02:00] stories for you. Not stories, tidbits, nuggets, info, whatever you might have it. The first one is square. Square is a fintech company. First, they did a survey, and they did the survey on. Gen Z ers, Generation Z, folks who are part of Generation Z, that are also small business owners, right? They did a survey on them, and 84% of the Gen Z business owners plan to still be in business in the next five years.

[00:02:30] Brian: 73% of those owners produce all of their revenue from their businesses. So Gen Z folks, right? They're about their business. They want to be in power from themselves. The link is here. If you dig in, you'll see that they really enjoy being business owners because they like the control. I call it out to payroll folks, aspiring payroll business owners, because this.

[00:02:58] Brian: Demographic[00:03:00] is very entrepreneurial, so that means there's going to be a big opportunity now and in the future for business for payroll folks, right? If you want, if you're the Christina Hageny of the world, the valid payrolls of the world, where you offer a payroll business service, there is room for growth there.

[00:03:16] Brian: There's this opportunity there because the Gen Zers, big category growing in our demographic still wants to be in business for themselves. What does that mean? They need payroll service. They're going to need some type of payroll service, right? And that's why Square did it. Square is also a fintech company that offers payroll service.

[00:03:33] Brian: It's a self serving survey for them. The next one is, we still have time to become National Payroll Week supporters. Time is running out. If you want to be a supporter, Go on to the APA, sign up, they give you some free materials to spread the word and continue and, just put the word out there about payroll.

[00:03:54] Brian: They can, they have a bunch of different programs, they have merch, we still have time to become a supporter, [00:04:00] National Payroll Week is coming up in September go go check that out on APA's website. Payroll. org. Payroll yes. Oh gosh, that's right. They are not the APA anymore. It's Payroll.

[00:04:11] Brian: org now. But... To your point, Walt the, they have a separate website for National Payroll Week, and it's nationalpayrollweek. com. So you can check it out there, you can sign up there, the links will be in the show notes.

[00:04:24] Brian: The other one, speaking of APA did you know that GPA is a separate organization? The Global Payroll Association is a separate org? Did you know that? I didn't know that like it when I was doing this work prepping for our podcast one day, I'm like looking up stuff and I realized GPA was a whole separate organization.

[00:04:47] Brian: So GPA is the global payroll. Association, global payroll association, not to be confused with GPMI, which was the global payroll [00:05:00] management Institute that merged with APA to create payroll org. This folks, I just learned this stuff. Y'all like Brian, we are new to this stuff. I just learned it this past few months when payroll org did all that change.

[00:05:17] Brian: That's what. Oh, and then the, then there's another Chartered Institute of Payroll Professionals that's out in the UK as well. Come on now. I didn't know all this, man, you holding out on me, bro. You over here knowing all this

[00:05:30] Walt: I didn't even know. No, but hold on the reason that I do know is because we had someone, one of our guests Oh, really?

[00:05:38] Walt: You were on one of the shows, yes. If I recall correctly, it may have been behind the scenes.

[00:05:44] Brian: Okay, got you. And that's why it may not be in the recording,

[00:05:48] Walt: but Got you. That's how I

[00:05:50] Brian: came to that. Got you, okay. So I learned that. And then I learned, and then again, I get pulled down these rabbit holes, right?

[00:05:57] Brian: So anyway, my takeaway was GPA has [00:06:00] great content. Go check out the GPA. They have membership. They have a really great affordable membership package. They have awesome content. Check them out. And then it made me research well, an acronym, I, I'm is with the words and the acronym.

[00:06:14] Brian: I want to know what things mean. So APAC is a phrase that's thrown out an acronym that's thrown around all the time. And it's usually thrown around for global leaders who like manage or you're a regional vice president of a global area. APAC is one. And then it's EMA is another one. I don't even know what, but APAC it's a regional reference, usually defines countries that border the Pacific Ocean.

[00:06:43] Brian: So if you're an APAC manager you cover that region of countries that border a Pacific, the Pacific Ocean. That's what APAC is in reference to. So again, I don't know if this

[00:06:58] Walt: is the correct [00:07:00] definition for the acronym, but it says

[00:07:02] Brian: Asia Pacific. There you go. That's probably right.

[00:07:06] Brian: Yeah, that's right. Probably right. Thank you, sir. So yeah, again, just learning little things and any who. And since we are on acronyms, ADP, did you know that in 2019 ADP changed what ADP stood for? Did you know that? Ah, see, you got your ass. See, it went from ADP used to be Automated Data Processing. Makes sense.

[00:07:37] Brian: Payroll processing, ADP, ah, but they've evolved, right? And much like we say on the show it's about the people. So they evolved to now it's called. Or that acronym that you always designing for people, because in 2019, the same year they celebrated their 70th year [00:08:00] anniversary, they wanted to make that transition from not just being known as like the payroll processor.

[00:08:08] Brian: They wanted to be known as always designing for people because. They started put reframing the narrative as an HCM right as a human capital management system, not just a payroll system. And you and I both know, like in real days. Examples that people still see ADP as a payroll processing system.

[00:08:33] Brian: So in 2019, they rebranded to try to reposition themselves as an HCM as well. So that's ADP for you folks. And that's all I got, man. What you got for us today? That's great. Thank you for sharing

[00:08:47] Walt: those, man. That was absolutely, you did get on that one.

[00:08:51] Brian: Alright. Percent . Gotta get you here now, man. Yeah.

[00:08:55] Walt: All right. So I have I also have four articles that I want to [00:09:00] share. The first one is from payroll.org. Which is why I think I said payroll.

[00:09:06] Brian: Yeah. Yeah. Yeah. Payout.

[00:09:08] Walt: Yeah. But they provided, they have lots of fantastic payroll articles out there and newsletters that you can access. So this is one of the ones that I found about the IRS.

[00:09:21] Walt: It is saying that the IRS will provide an electric filing option for amended keyword. Amended employment tax returns sometime in 2024. So those nine forties, those nine 41s that need to be amended sometime in 2024, you will be, you will have the option to file amended tax returns for those. Thank you, IRS.

[00:09:45] Walt: For dealing with the times and making things a lot more,

[00:09:49] Brian: Accessible

[00:09:50] Walt: and easier to process for us. And so you don't have to worry about filling it out on paper and stuff. You can do it online. That's cool.

[00:09:58] Brian: Yes. That's [00:10:00] a great call out. Cause the, I'm sorry to cut you off, but that's a great call out. Cause the government agencies take a long time for the electronic stuff.

[00:10:06] Brian: So thank you, IRS. Yes, thank you

[00:10:09] Walt: for I don't know if a lot of people are thinking IRS, but we just did. So there's another blog that I found. It's about 16 mergers that happened in 2023 that you may not be aware of. Gotcha. So the reason I brought, I thought about mergers and acquisitions is because it's a part of the business world and we've.

[00:10:32] Walt: Come across those in our careers, and I'm sure other people who have listening who are listening and tuning in are have are very familiar with those same things because it's a part of the business world, and it may impact the payroll process, it may impact different functions of a company, including payroll

[00:10:49] Brian: right

[00:10:49] Walt: so those that you may recognize or have familiar names, Johnson and Johnson, a tried and true company here in America. They acquired a [00:11:00] Biomed Incorporated and CVS. Health co acquired signify health incorporated. So that's a pharmaceutical acquisition there. Of course. .

[00:11:14] Walt: Do you have anything to

[00:11:15] Brian: add to that

[00:11:15] Brian: add to that? Yeah, it's a great call out because. Mergers, you mentioned mergers and acquisitions, M& A as it's referred to in the business world and connecting the dots for us so much so that folks, we are coming out with a best practice show soon for how payroll folks handle M& A's.

[00:11:35] Brian: Cause there is some things you have to be aware of. So we're putting a show out there. This is important. That's why I said, it's a nice call out for for us now, because look out for the show coming out on how to handle it and as a payroll pro. Thank you. All right,

[00:11:51] Walt: and then my 3rd article is also another article from payroll dot org.

[00:11:57] Walt: It is regarding. The state of [00:12:00] Connecticut, so if you don't live in Connecticut, or you don't have employees in Connecticut, this probably isn't for you, but. They were planning to expand data reporting requirements that were the employers were supposed to provide to the state beginning in 2024, but that plan has been rolled back.

[00:12:17] Walt: As of now, employers will not be required to report those additional elements for pay data reporting in the state of Connecticut. I just thought it was an interesting call out here. For the people that may have employees or are in business in the state of Connecticut. And the last one I have is from ADP.

[00:12:39] Walt: com. Pay transparency, right? We've been hearing more of that here coming up.

[00:12:45] Brian: Controversial. Controversial. I have my issues with it. And

[00:12:52] Walt: as of early this year, 2023 states enacted legislation, [00:13:00] addressing salary range disclosures so some of those states are Washington, California, Nevada, Maryland, Connecticut, and Rhode Island and they have legislation in place about pay transparency.

[00:13:14] Walt: So that's basically hey, when you apply for a job. They have to tell you this is how much this job pays.

[00:13:21] Brian: Oh, wow. Yeah so those states are requiring it, are requiring paid transparency. Wow. Wow. Yeah,

[00:13:28] Walt: and then so like other states like New York, Ohio and New Jersey have some localities that have enacted some similar legislation.

[00:13:38] Walt: So the entire states. May not have done that. But if you live in a certain locale in Ohio, for instance, you may as an employer, if you have employees that are there, you may be required to have to show that pay transparency. There's a lot more that I could have brought up with this paid transparency article, but.

[00:13:58] Walt: I think that you will be [00:14:00] better served to go read it. The link will be in the show notes. And it's a lot of interesting stuff. So why did you say you have I know we don't normally

[00:14:08] Brian: get into it. Well, no. Yeah. Real quick, just to wrap it up. Cause we're done. Just to leave it off on this is that.

[00:14:14] Brian: I guess what I want to say is, hey, it's not transparency to your individual pay. If you're in New York, your company's not going to tell people what you make there. Well, unless you have the same title as somebody that actually is being hired. Then maybe they can, you can get an idea, right?

[00:14:35] Brian: Because, so let's say right? If there's a company that has three payroll managers and they're going to go hire one more, now they have to put what the range is. So folks can assume if they're doing that much digging, they can say, oh, wait, you're a payroll manager at the same company.

[00:14:49] Brian: So you must make XYZ. Okay, that, I guess that's, that's what my issue is because I came from a place where, we were, it was like, don't talk about your pay salary, your [00:15:00] pay with your colleagues.

[00:15:02] Walt: People still have those

[00:15:03] Brian: conversations. Yeah. And I think it's still valid even not to violate company's policies, but I think it's valid because as a payroll person, we talk about as a payroll person.

[00:15:16] Brian: And that's why I'm still, I feel like. I'm still justified as a payroll HR professional. It's listen you got to talk ranges. If you want to talk ranges. Okay. But what you're like, don't compare net pay to net pay because that is where the dangerous danger is. Now, if you're going to compare gross to gross, man, fine.

[00:15:40] Brian: You know what I mean? But net pay to net pay is where it gets really dangerous gross to gross. Again, right? You can't go ahead. That's enough. That's what I was. That's my two cents. What about you?

[00:15:51] Walt: Because it talks about that,

[00:15:53] Brian: right? It's all in the article. Does it really? Okay. So

[00:15:56] Walt: I feel like this is this.

[00:15:59] Walt: Pay [00:16:00] transparency topic is probably something that we could roll into another

[00:16:04] Brian: show. Absolutely. So really

[00:16:06] Walt: discuss it and

[00:16:07] Brian: really see what should try to get like an expert though. Somebody who's like a big advocate for it and really put and then they could tell us why.

[00:16:14] Brian: And we can argue with them. No, I'm just kidding. We can learn from them. Yeah, we can learn without them, right?

[00:16:19] Walt: Yeah, for sure. But there's a partner that says something about pay

[00:16:22] Brian: secrecy policies. What? Oh, not to have them.

[00:16:28] Walt: No, it says for me, so I'm going to read that part, right? Yeah, go for it.

[00:16:31] Walt: Go for it. For many years and in most circumstances, federal and state laws have prohibited employers from adopting policies that restrict an employee's ability to discuss wages with other employees.

[00:16:45] Brian: Yeah, I get that. I get that. And I, yeah, I guess I get that. Sure. Because it's not good for the company because of their practices.

[00:16:55] Brian: Yeah.

[00:16:56] Walt: But I think. I think it merits a [00:17:00] bigger conversation, we're going to talk about it, and maybe you and I could like argue for both sides, right? So maybe I'll come from the standpoint that, oh, we should have paid transparency.

[00:17:11] Brian: And then we shouldn't,

[00:17:12] Walt: right? Yeah. Maybe we should not, but we'll see.

[00:17:15] Brian: Yeah, that'd be fun. Yeah, it's definitely a good topic. All these things are, right? And that's what we said, look, these are all things that you can dig deep. You interested in it? Go dig in more. Go check the show notes that we post. Look at the links and go dig more and research more.

[00:17:29] Brian: Anything in payroll, there's so much out there to research. So this stuff here, like appetizers, right? They're like payroll appetizers, just to get you excited about some stuff. And also keep you informed, you know what I mean? Yep, absolutely. Cool, man. Thank you, sir. Appreciate you. Yeah, man.

[00:17:46] Brian: All right, folks, that is it. Get back to your day. Have a good week and check us out next time. Peace.