Yep, I have a background as a senior manager for a major payroll company. So perhaps I'm biased, but I've been preaching to clients for years about the need to choose a payroll company that's nationally based and publicly traded. I've seen too many cases like these where businesses owners are left to pay millions of dollars in back payroll taxes and unpaid salaries to workers, all because they wanted a lower payroll price or a local company. Nothing is absolute, but payroll processing is too important to mess around with.
It'll be interesting to see if this trend changes during the next recession, but the trend continues: Candidate Supply Down and Labor Demand Increasing. It makes the issues of retention and attraction of talent a key concern for CEO's. This continues to be the #1 topic I'm asked to speak on.
I have a friend who watches a lot of TV. And almost always, we like (or dislike) the exact same shows. But one show we disagree on is Succession, now in its second season on HBO. I get it - there's not a singularly likeable character to be found. But the second season is absolutely fantastic. And the intricacies of a family-run business, unable to find an heir who can competently run the business, is fascinating. As is the inner workings for a Rupert Murdoch-like empire.
Tweet of the Week
From Wharton Professor (and workforce strategy genius) Adam Grant:
