Hiring an Unemployed Worker Can Save You Money

In March, the Hiring Incentives to Restore Employment (HIRE) Act was passed into law. This act provides two new tax benefits for employers who hire unemployed workers.

Employers who hire unemployed workers this year (after February 3, 2010 and before January 1, 2011) may qualify for a 6.2 percent payroll tax incentive. This means Social Security taxes for employers are waived through 2010 on wages paid after March 18, 2010.

The employer may also claim an additional business tax credit, up to $1,000 per worker, for each unemployed worker hired and retained for a minimum of one year. This credit can be claimed on the 2011 business tax return.

To qualify, the hired unemployed worker has to fill out an affidavit, Form W-11 (see www.irs.gov).

Hired family members and household employees are not eligible for this credit.

VOF Is "Best of the Best"

Valley Oak Financial was named the “Best of the Best” at the awards ceremony honoring West Michigan's 101 Best and Brightest Companies to Work For 2010 on Thursday, May 6, at the Pinnacle Center in Hudsonville.

In all categories the 101 winners are further analyzed for Elite recognition. The categories include: Communication, Community Initiatives, Compensation and Benefits, Diversity and Multiculturalism, Employee Education and Development, Employee Engagement and Commitment, Recognition and Retention, Recruitment and Selection, Work-Life Balance, and Small Business. The judges look for unique and creative thought processes with support from senior management and policy makers. In addition, they search for above-average programs, services, and solutions for employees given their work environment. Adaptations to various new factors in the marketplace are weighted.

The overall winner is a company that excels in every category and scores significantly high in all areas of human resource practices. The overall winner ensures that everything that is done through their mission, vision, values, culture and leadership speaks to high regard for making the company an employer of choice. The overall winner is awarded the “Best of the Best” honor.

VOF is a West Michigan 101 Best & Brightest Company to Work For 2010

For the second consecutive year, Valley Oak Financial is excited to announce that we have been named one of West Michigan’s 101 Best and Brightest Companies to Work For by the Michigan Business & Professional Association. Winners of the award practice innovative strategies and represent best practices in human resources.

Each nominated company is evaluated based on key measures in various categories, including: communication, community initiatives, compensation and benefits, diversity and multiculturalism, employee education and development, employee engagement and commitment, recognition and retention, recruitment and selection, small business and work-life balance.

According to Jennifer Kluge, chief operating officer and executive vice president of the Michigan Business & Professional Association, “The selection, recognition, and awarding of this year’s 101 companies allows our organization to showcase their best practices. The honorees have clearly demonstrated why each of them would be an ideal place for employees to work. Companies that capitalize on their greatest resource—their employees—know how to attract and retain top talent.”

The Michigan Business & Professional Association is the largest business organization of small to medium-sized businesses in Michigan, representing more than 20,000 members who employ over 200,0000 persons.