Employers are getting wise to their over-employed employees – the ones working multiple jobs on the clock and dime of their main boss. Gene Marks says this type of flexibility might be necessary to keep good employees, and he’s OK with it as long as individuals are finishing their work satisfactorily and on time. Speaking of time, Gene points out a report that shows remote workers clocking 2.65 hours less than in-office workers. Plus, Gen Zers scored poorly in financial literacy, startups reach near-historic highs, and small businesses can take a victory lap after winning a lawsuit that allows for the continuation of auto-renewals on subscriptions and memberships. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Did you know there are now SIX generations in today’s workforce? From the Silent Generation to Gen Alpha, the workplace is a melting pot of perspectives, challenges, and opportunities. In this episode of THRIVE, Gene sits down with workplace expert Adam "Smiley" Poswolsky to decode the secrets of managing multigenerational teams. Smiley shares his insights on bridging generational gaps, fostering inclusion, and why being a coach (not just a boss) is the key to success. Whether you’re a seasoned leader or a Millennial stepping into management, this episode is packed with practical tips and fresh perspectives on building a thriving workplace.

Find more tips and expert strategies to help you bring out the best in every generation here: https://bit.ly/4lxvVFC

Have a question for upcoming episodes or a topic you want covered? Let us know: https://payx.me/thrivetopics

Topics include: 00:00 – Episode preview and welcome 01:18 – Overview of the six generations in the workplace 05:45 – Challenges of hiring young talent 07:08 – Role of managers as coaches 08:14 – Evolving cultures and expectations 09:19 – Providing personal and professional growth opportunities 10:13 – Importance of listening to young workers’ perspectives 11:45 – Shift in finding purpose in life vs. career 15:00 – Polyworking and its implications 18:12 – Adapting to workplace fluidity and new job models 19:45 – Opportunities from federal layoffs 21:25 – Inclusion and the importance of a belonging workplace 22:12 – Practical advice for creating an inclusive work culture 25:33 – Navigating remote work and hybrid models 28:12 – Wrap up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Searching for fresh ways to grow your accounting practice or wondering how your CPA could better support your business? Don’t miss Gene’s conversation with one of his accounting idols, Joe Woodard. They explore how Client Advisory Services (CAS) can help accountants level up, boost their profits, and serve their clients in more meaningful ways. You’ll get practical tips for pricing your services, creating service packages that make clients happier (and more loyal), and using technology to turn the old controllership model on its head. Whether you’re an accountant ready to break free from the tax treadmill, a business owner who wants more out of your CPA, this episode is for you.

Check out our suite of tools and resources designed to help financial advisors serve clients with confidence: https://bit.ly/4mQhPjR

Have a question for upcoming episodes or a topic you want covered? Let us know: https://payx.me/thrivetopics

Topics include: 00:00 – Episode preview and welcome 01:33 – Joe Woodard’s background  03:17 – Evolution of client advisory services in accounting 04:54 – Breaking the “treadmill feeling” 06:30 – Pricing problems and how to fix them 10:18 – Building client trust with inclusive service packages 14:15 – Adopting CAS: Smaller firms vs. larger partnerships  15:17 – What CAS really means in practice 18:26 – The role of AI in the future of accounting 22:18 – The power of trust & why human relationships still matter 24:10 – CAS & business journey protection 27:14 – Scalable solutions for CAS 28:37 - Becoming the trusted single point of contact 29:28 – Info about the Scaling New Heights Conference 31:36 – Wrap up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses might approach prior to the rules going into effect. 

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues with recruiting and retaining talent. Cryder’s conversation with Gene Marks on Paychex THRIVE, a Business Podcast, sheds some light on how her state association is addressing issues of modernization through AI, professional development, and rethinking the business model firms have used for decades.

Topics Include:

00:00:00: Episode Preview

00:00:54: Introduction of Jennifer Cryder

00:02:12: Challenges facing CPA profession

00:03:24: Examples of challenges, including talent acquisition

00:04:43: Future of CPA firms and the advisory role

00:10:11: What’s happened to the small, local firms?

00:13:26: The value a CPA can offer

00:16:35: Recruiting challenges in the CPA profession

00:19:18: Initiatives For Retaining Good Talent

00:23:09: Metrics and job evaluation

00:27:18: Advice on collaboration with CPAs

00:30:57: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting businesses. They also discuss strategies around integrating AI-driven insights with human expertise. 

Topics Include: 00:00: Episode Preview

00:01:01: Introduction of David Autor

00:01:40: Autor’s background

00:03:32: Discussion on industry dynamics

00:03:51: Impacts of AI on labor markets

00:08:33: AI and decision making in various industries

00:09:37: AI and skills re-evaluation

00:11:19: Skills needed for future with AI

00:15:19: AI's current potential

00:17:16: Long-term impact on labor markets

00:18:17: Discussion on potential disruptions of future technology

00:23:16: Discussion on minimum wage debate

00:29:45: Current state of workforce after pandemic

00:33:24: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Looking to start a business? The trend is to buy a business rather than start from scratch, and a recent report shows small-business acquisitions up 10% from the previous year and 3% in the last quarter. Some experts say new borrowers are accepting high interest rates as normal. And if you’re opening a business, another survey found Ohio has all the factors to make it the top spot to start. Gene Marks also shares his insights on the constant tipping and its impact. Watch the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

President and CEO Emily Williams Knight helped guide the Texas Restaurant Association and its tens of thousands of members through the COVID-19 pandemic and continues to advocate for legislation that will help restaurants thrive. She shares stories about the industry association’s efforts on Paychex THRIVE, a Business Podcast, to educate and benefit members, as well as her thoughts on why transactional tipping is bad, swipe fees, too, and how getting a childcare initiative established and fostering the second chance hiring initiative will be key to sustaining growth of this billion-dollar industry.

Topics Include: 00:00:00: Episode Preview

00:01:25: Introduction to Emily Williams Knight

00:01:55: The pandemic's impact on the restaurant industry

00:03:14: Impact of pro-business policies during a pandemic

00:06:35: Changes in the restaurant industry post-pandemic

00:08:47: Mission of association as state’s largest private employer

00:11:52: Value of being an association member: education and a voice

00:13:40: Crucial topics and demands within the restaurant industry

00:16:15: Discussion about regulatory measures and compliance

00:16:58: Discussion about tipping policies in the restaurant industry

00:17:18: Discussion on transactional tipping

00:18:07: Importance of experiential tipping

00:21:37: Discussion on swipe fees

00:25:26: Shrinkflation in the restaurant Industry

00:28:01: Minimum Wage Discussion

00:31:07: Child care crisis solution initiative

00:32:53: Second chance hiring initiative

00:34:52: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Who wouldn’t take an 88.5 on a test? It’s passing. Sadly, the National Federation of Independent Small Businesses Optimism survey isn’t a test – and 88.5 is not great. In fact, it is the 27th straight month that the survey has shown less than optimistic results. Gene Marks takes a look at what might be causing the steady dip, plus he talks about how employers have to prepare for the pending OT rule. Not everything is gloom: Women-owned businesses are thriving out West. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Cathy Engelbert has shattered a few glass ceilings in her career – first woman CEO of Deloitte and first WNBA commissioner – while still battling the gender imbalance in leadership roles. She shares her journey with Gene Marks on Paychex THRIVE, a Business Podcast, starting with her formative years, her decision to be a working mother while striking work/life balance, the mentorship she received. She also talks about confidence gaps, programs to foster the advancement of women, and the advice and guidance she gives her own daughter.

Topics Include: 00:00:00: Episode Preview 00:01:22: Introducing Cathy Engelbert

00:03:15: Inequality in the Mid-80s Working Environment

00:04:28: Role as a Representative for Women in Business

00:07:05: Challenge of Retaining Women in the Workforce

00:10:01: Value of Role Models and Mentors

00:12:32: Being an Unexpected CEO

00:15:00: Strengths Women Bring to the Workplace

00:16:24: Reflecting on Women's Confidence Growth

00:18:26: Challenges in Encouraging Women to Leadership Roles

00:24:22: Balancing Work, Family and Personal Passions as a Female Leader

00:27:24: Pivoting from Deloitte to Lead the WNBA

00:29:13: Advice for the Young Generation on Navigating Careers

00:33:21: Wrap-up and Thank You

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

If you’re in the Midwest, job prospects have ticked up slightly – the first increase in 2024 – and every region has seen growth in all but one industry, according to the Paychex Small Business Employment Watch. Gene Marks also highlights a study on manufacturing that points to a massive gap in the next decade of qualified and trained workers, especially regarding digital skills. He stresses that businesses can get potential tax credits and funding for training to help. And all eyes are on California to see how a proposed bill to allow some employees to disconnect from work during off hours proceeds. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Kent Smetters has experienced public policy on the economy from inside and outside the federal government. The economist and Wharton school professor helps us explore the use of economic modeling in influencing public policy and examines the potential impact of fiscal challenges and tax legislation changes. He joins Gene Marks on Paychex THRIVE, a Business Podcast, to talk about the many factors impacting economic growth, and how educating the current and next generation of executives can equip them to make more informed decisions on the economy.

Topics Include: 00:00:00: Episode preview

00:01:14: Introduction of Kent Smetters

00:03:12: Changing dynamics of MBA candidates

00:05:19: The many hats of an economist

00:06:07: Working with policymakers on economic impact analysis

00:07:04: Discussions on upcoming tax provisions

00:08:02: Balancing the cost of capital and national debt

00:08:38: Influence and work process of Wharton on legislation

00:19:39: Importance of honest broker analysis in policy decisions

00:22:16: Strategies for integrating more STEM personnel into our economy

00:23:29: Discussion on U.S. fiscal situation and debts and deficits

00:25:05: Projection of unsustainable debt level in U.S.

00:26:03: Hiking taxes and spending cuts only solution for deficit

00:27:07: Consequences of spending cuts on Social Security

00:28:13: Concerns about current approach in U.S. of dealing with crises

00:29:16: Effect of inflation on wealth over time

00:32:17: Implications of printing more money

00:35:06: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Fast-food restaurants with a national footprint gain an exemption via the law as California raises its minimum wage. Gene Marks discusses the issues this could cause, but also says the state could be a model for others if its works. He also takes a look at a new Bank of America portal that streamlines the process by connecting access to funding sources, and he just can’t get over the fact that a bellwether for the check on inflation has changed. Gene offers his two cents on a four-cent increase of the price of bananas at Trader Joe’s. Check out the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The U.S. House of Representatives passed the tax and spending bill by one vote, but small businesses could gain a few positives if some of the provisions survive the Senate debate and reconciliation should it pass that chamber of Congress. Gene Marks highlights the proposed changes to bonus depreciation, the pass-through tax deduction, and revisions to research and development costs as potential wins for small businesses, and he says he thinks these provisions will remain. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

What’s the economic outlook of the United States and what factors influence it? Columbia professor Brett House takes a deep dive focusing on growth rates, immigration, free trade, tariffs, deficits and much more – and how these impact small businesses as much as large corporations. Gene Marks and Brett discuss NAFTA, foreign markets, and other policies that will make an impact in 2024.

Topics Include: 00:00:00: Teaser quote 00:01:07: Introduction of Brett House 00:04:21: Examination of the global macroeconomics 00:07:42: Why UK’s Brexit doesn’t work 00:09:45: Courses House teaches and application on global macroeconomics 00:13:25: NAFTA and why it has succeeded 00:15:04: Thoughts on digital currencies 00:18:36: What do tariffs actually do? 00:23:00: Why doing business in the U.S. is wise 00:24:30: Economic recovery and role of government 00:25:43: Perspective on deficits 00:27:24: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Employers who want to retain good employees might have to buy them comfortable cushions for their long commute to work. Seems super-commuting – traveling distances of up to 300 miles one way per day – is becoming popular. Gene Marks offers a few tips on how to manage this trend. He also puts on his CPA hat to warn against scammers grabbing your data from public records to steal any potential tax refund. And even the latest employee-preferred benefit is a shock: coverage for weight-loss drugs. They’ve done surveys and the numbers don’t lie. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

What would you think about working one less day and 8 fewer hours each week plus be eligible for overtime pay on a daily basis and benefits? It’s been introduced in the U.S. Senate, but Gene Marks shares a similar view as its detractors – it would crush small businesses, who have also seen their contracts with the U.S. government fall by one-third over the past decade because of restrictive regulations and legislation. Any thoughts on data collection auto insurers? Gene shares insights on why he isn’t opposed. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Actor, producer, recording artist, and entrepreneur Queen Latifah shares on this episode of Paychex Thrive, a Business Podcast, what she feels are the biggest challenges facing millions of women-owned businesses. She comments on the disparate funding from venture capitalists that direct less than 5% of all dollars to women-owned businesses and to the lack of recognition for women already in powerful positions. She advises women to keep up the fight, but also to ensure they are practicing self-care and living in the moment.   

Topics Include: 00:00:00: Episode Summary 00:00:35: Welcome

00:00:50: Introducing guest Queen Latifah

00:01:53: Lenovo's Evolve Small campaign

00:04:24: Funding and other issues women-owned businesses face

00:06:41: Advice for women entrepreneurs

00:08:02: Support for women in business

00:10:35: Importance of self-care

00:11:40: Women are present, they need to be recognized

00:13:34: Drawing inspiration

00:16:45: Living in the moment

00:19:50: Women in higher places need to be accountable, too

00:21:30: Equal Pay for women

00:22:40: Channel setbacks into something positive

00:25:01: Aspiring for a better world

00:25:59: Wrap-up, thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The gig might be up for gig workers. The DOL’s independent contractor worker classification rule went into effect March 11 and businesses using 1099 workers need to reclassify individuals properly – and possibly make them employees – to stay compliant. Gene Marks says it’s going to create some havoc before it’s all sorted out, including potential challenges in court. Small businesses did get a win when the SBA announced an improved Lender Match tool that will make the funding search easier. And Gene advises Millennials to buy businesses from retiring baby boomers amid a generational wealth transfer that could be in the $90 trillion range. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

After nearly a quarter century in the restaurant and hospitality business, Jeanne Cretella has seen major swings, and the President of Landmark Hospitality shares her thoughts with Paychex THRIVE, a Business Podcast, on what works and what doesn’t in the industry. Cretella says restaurants and hospitality should always be about service, and that eliminating tipping and proposing steep minimum wage hikes will kill the industry. She tells Gene Marks that building a culture is critical, how the industry still is great as a career path, and why joining an industry association can help your business stay out of compliance hot water.

Topics Include: 00:00: Opening preview

00:01:31: Introduction to Jeanne Cretella

00:02:15: Jeanne's journey with Landmark Hospitality

00:05:19: Employment opportunities in the restaurant industry

00:07:07: Restaurant industry as a potential career path

00:11:21: Importance of instilling company culture

00:14:08: Employee recruitment

00:17:27: Thoughts on the four-day work week

00:20:15: Industry trend – flexibility in workplace

00:21:37: Tipping in restaurants

00:26:09: Minimum wage increase in fast-food industry

00:29:04: Surcharges for using credit cards

00:34:04: The importance of participating in industry associations

00:34:59: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

As the economy moderates, so too is job growth. Gene Marks offers some insights as to what the data from the latest Paychex Small Business Employment Watch is showing business owners. Fast-food restaurant chain Wendy’s announced the testing of dynamic pricing and customers weren’t happy, so Wendy’s flipped. Is dynamic pricing the future pricing model? How do you feel about a personal escort while shopping? One hardware store owner floated the approach to combat the spike in shoplifting, but Gene says there might be hidden costs. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Business owners cannot wait until AI is full-proof or they will be out of business, according to longtime technology journalist, author, and business owner Kara Swisher. Businesses need to get comfortable with what AI is doing now and can do for them, and then be adaptable as it changes. Swisher speaks with host Gene Marks on Paychex THRIVE, a Business Podcast, about the ever-changing business-tech landscape, including why AI is a tool and should be treated as such, how some social platforms are better than others for digital ad ROI, why security is almost nonexistent and the government allowed it, and much more.   

Topics Include: 00:00: Episode Preview 01:32: Introduction to Kara Swisher 03:10: Discussion about Kara's new book on tech 07:24: Transition from being a journalist to a business owner 09:55: Insights on contracts and work relationships 11:01: Marketing insights on social media 21:26: Tech is a tool and still adapting 24:39: Security and privacy in tech 26:13: Need for stricter data regulation 28:00: Discussion on Augmented and Virtual Reality devices 32:01: Why Climate Change Tech would be a good job 34:38: Wrap-up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A recent survey finds that while the majority of small business owners are in favor of a minimum wage hike, half of respondents also feel that an increase would negatively impact their businesses. Host Gene Marks understands this paradox and explains why business owners would have these contradictory opinions. Gene also touches on the new workplace phenomenon called coffee badging and why one CEO isn’t opposed to this practice, as well as a new editorial in the Wall Street Journal that cautions against the slippery slope of new unrealized gains taxes 10 states are currently flirting with. Listen to the episode.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Claire Jarrett is a businesswoman, author, and expert on digital marketing, and she says that data tracking is crucial to understanding how to craft your online ads, messaging, and campaigns. Gene Marks chats with Jarrett on Paychex THRIVE, a Business Podcast, about keywords, industry tools, consumer behavior, the shift on cookie tracking, and much more, and shares insights and ad-building tips that could help your business achieve success with its digital marketing efforts.  

Topics Include: 00:00: Episode Preview

01:08: Introduction of Claire Jarrett

02:37: Impact of change with cookies and tracking

05:39: Difference between advertising on Google and YouTube

07:27: Advice on tools to help create ads

09:27: What is a keyword and a negative keyword?

11:47: Behavior and why consumers click on ads

13:30: Tips on writing an effective digital ad 

14:43: Different types of digital ads

15:38: What is a retargeting campaign?

17:35: What makes a good landing page?

19:27: Why testing ads is important

21:09: Verifying data through independent tracking

26:27: Jarrett Digital’s approach to clients and consulting

28:24: Impact of AI on future of digital marketing

30:00: Identifying the perfect client?

31:00: Wrap up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.  

This episode was recorded prior to the House passing the Big Beautiful Tax Bill on May 22, 2025.

Gene Marks shares insights on the Big Beautiful Tax Bill and on the importance of keeping the tax credits for small businesses. That might lift their spirits but, according to the Small Business Optimism Index, not much else is rosy. Sales volumes are down, plans for capital outlay are down, and that has optimism down for a fourth month. Gene also talks about the buy-now pay-later service Klarna doing a 180-degree turn, choosing human hires over AI after going all in on AI three years ago.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A new law takes effect in New York state that requires businesses to be transparent about credit card surcharges while also capping what businesses can charge patrons who use credit cards. Host Gene Marks says he favors this approach and shares insights on this and a few other news items, including the potential expansion of Paid Family Medical Leave in New Jersey and Pennsylvania to include small businesses, and the push for the creation of emergency savings accounts for employees. There are a lot of complexities being created and Gene explains why. Listen to the episode.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In today’s ever-changing business landscape, understanding the economy, national debt, and their impact on your trade is a crucial tool. On this episode of Paychex THRIVE, former Federal Reserve economist, Bloomberg columnist, and founder of Sahm Consulting, Claudia Sahm, offers valuable insights to help listeners navigate the complexities of the U.S. economy. She discusses its key aspects, ranging from the role of treasury securities and national debt to the impact of fiscal policies on national economic health. Learn about the unique credibility of U.S. debt securities and how international demand for these assets bolsters the nation's ability to manage its rising national debt sustainably.

Topics include:

00:00 – Welcome Claudia Sahm

01:14 – Introduction to Claudia Sahm's background and work history

03:14 – Discussion on the U.S. economy and national debt

04:36 – Importance of focusing on tax and spend policies

06:58 – Claudia’s perspective on the sustainability of government deficit

09:13 – Considerations for future economic policies

11:31 – Discussion on the size of the federal government as it relates to the national debt

13:03 – Importance of reliable government data

14:02 – Claudia’s advice on utilizing data in decision-making

16:02 – Importance of regional and industry-specific data

17:31 – Key metrics to track for understanding the economy

19:15 – The influence of the labor market and consumer spending on the economy

20:25 – Weighing government data against private sector data

21:20 – Discussion on data sources

23:50 – Economic forecast for the near future

28:41 – Influence of presidential elections on the economy

32:23 – Wrap up

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Unless you’re Taylor Swift, working for Taylor Swift, or dating Taylor Swift, your business might not be doing as well in the marketplace. At least that’s what recent numbers show, with job vacancies open but 14% of small-business owners indicating they aren’t hiring over the next three months. Gene Marks takes a look at a recent report, plus shares some poor productivity numbers following the Super Bowl and the astronomical economic impact you could experience if you hitch your business in any way shape or form to Taylor Swift’s concerts or her favorite NFL team. Listen to the podcast for details.

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Businesses in New York state and New York City have tremendous opportunities presented through Empire State Development, the economic development arm of state government that provides support to small businesses and helps implement initiatives. President and CEO Hope Knight chats with host Gene Marks on Paychex THRIVE, a Business Podcast, about how the funding works for training and workforce development, available tax credits, and the push for film industry and biotech industry advancements in the state.

Topics Include: 00:00: Opening 01:06: Introduction of Hope Knight, CEO of Empire State Development

02:48: What is Empire State Development

04:17: Programs available for small businesses through ESD

05:01: What is the State Small Business Credit Initiative

07:22: Where is the focus of ESD funding

10:25: What industries is ESD focused on for funding and workforce development

14:13: How funding flows to programs that provide training and distribute funds

17:33: Benefits to hiring the formerly incarcerated

22:14: Available tax credits for hiring formerly incarcerated

24:09: Specific programs aimed at film industry in New York City

25:33: Opportunities around biotech industry in central New York

26:48: Wrap-up and thank you

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Data from the Paychex Small Business Employment Watch shows job growth continues strong and hourly wage growth is also up. Gene Marks shares insights on how employers can use this data to their advantage. Legislation to extend the research and development tax credit at the expense of the employee retention credit passes one chamber of Congress. The SBA rebrands a crucial program to make it more accessible, including adding training that might boost the percentage of businesses that successfully obtained a federal contract and a key revenue source beyond the 60% from 2023. Listen to the podcast for more.

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

TV celebrity of “Restaurant: Impossible” and restaurateur Robert Irvine has a new book out titled, “Overcoming Impossible” that says that it doesn’t matter who you are or where you come from, success is attainable. He shares insights with host Gene Marks about finding and hiring the right people, leading those people, taking calculated risks, and listening to new ideas. He also says you need a system, that system should have rules, and don’t be afraid to fail. Listen to the Paychex THRIVE podcast to hear what other advice he has and why he travels 345 days a year to make it all work.

Topics Include:

00:00: Introduction 01:22: Defining impossible 04:47: Hiring and working with younger generations 08:47: Listening and taking suggestions in a business 09:31: Dealing with employee turnover 13:48: Learning from failure with analytics 16:59: What work-life balance? 21:07: Where Irvine came from and why he gives back 22:12: Understanding different work ethics 24:12: Risk-taking and believing in yourself 29:53: P&L and ROI in the restaurant industry 34:28: Leadership in business 37:04: Wrap-up and thank you

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

One recent study shows that full potential productivity gains through the use of generative artificial intelligence might be six to 10 years away. A different study at MIT revealed that in for certain aspects of work, only in a quarter of the jobs – 25 % - did it make financial sense to use AI. The numbers weren’t tipping favorably toward AI, but Gene Marks says these are the early days of understanding what AI can do and talks about his experience with one such AI tool. Listen to the Paychex THRIVE Week in Review podcast for more.

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The HVAC industry faces challenges on several fronts, from recruitment and retention in a tight labor market to an endless stream of regulations from federal and state agencies. CEO Talbot Gee of HARDI – the Heating, Air Conditioning, and Refrigeration Distributors International – works with his association to help implement training programs, communicate the requirements mandated by regulations, and data technology to that enhance inventory management and the understanding of space allocation for members of the wholesale distribution association. Gee speaks with Gene Marks on the Paychex THRIVE podcast on these topics and much more. 

Topics Include:

00:00: Introduction 01:17: Welcome guest Talbot Gee 01:55: HARDI and the purpose of the association 05:19: Workforce development; recruitment and retention challenges 10:01: Using data and technology to maximize space and scale operations 12:30: Training in trade schools and promotion of trades 15:30: Where to find labor 17:44: Impact of home sales, new construction on industry 21:15: Impact of tighter lending practices, inflation on inventory 26:07: Navigating regulatory changes and industry challenges 30:59: Opportunities in HVAC industry 34:01: Wrap-up and thank you

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

If you’re running a business, a herring fisherman baited the hook with a case now before the Supreme Court that might limit a federal agency’s power to expand on a ruling to further regulate your business. Gene Marks says this could make many businesses happy, maybe as happy as the news that the American consumers are upbeat about the economy and continuing to spend. Gene Marks shares some insights on the news, including the benefits employers are finding with an older workforce. Listen to the podcast.

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Retired Army Gen. Stanley McChrystal says at the core of good leadership is communication and clear direction, whether commanding troops in battle or leading your team on a business project. He speaks with host Gene Marks on the Paychex THRIVE podcast about good leadership qualities such as self-discipline, adjusting your approach as you gain more experience, getting your hands in the mix regardless of title, and surrounding yourself with people whose skillsets and thought processes augment yours – not duplicate them.

Topics Include:

00:00: Opening quote on leadership 01:01: Introduction of General Stanley McChrystal 02:19: Discussion on leadership 08:05: How do age and experiences impact leadership 11:37: Building a team around a good leader 16:02: Demonstrating leadership through actions 20:48: Comparison of running a military outfit vs. a civilian business 21:43: Setting clear standards and expectations in business 24:15: The importance of transparent communication 25:22: Lessons learned and appreciating successes 26:14: Implementation of effective training 27:44: Identifying key influencers and driving changes 30:39: Wrap-up

DISCLAIMER:

The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

This week’s guest, employment law expert Ben Ebbink of Fisher Phillips, tackles your biggest questions about President Trump’s first 100 days head-on. Wondering if your DEI policies are still compliant? Not sure how executive orders will affect hiring and workplace rules? Curious how state laws come into play? Ben breaks down the red flags, offers practical compliance tips, and clarifies what’s actually changed for employers in light of Trump’s recent actions. Tune in to unravel exactly how executive orders, DEI policies, and shifting regulations could impact your workplace.

Join Ben and Gene for a more in-depth review of Trump’s first 100 days in this on-demand webinar: https://bit.ly/3FEWlVU

Have a question for upcoming episodes or a topic you want covered? Let us know: https://payx.me/thrivetopics

Topics include: 00:00 – Episode preview and welcome 01:51 – Webinar overview  03:01 – Is it time to revert your DEI policies? 05:49 – Managing risk in DEI programs 07:37 – DEI red flags that may attract scrutiny 11:10 – Demographic grant and scholarship programs 12:17 – Should you still call yourself an equal opportunity employer? 13:05 – EEO-1 reporting requirements and what changed 14:49 – Set-asides for women or minority-Owned businesses 16:57 – Do you need to rewrite your employee handbook? 19:33 – Disparate impact and disparate treatment 24:02 – AI legislation and state actions 28:31 – State vs federal law: Where does authority really lie? 31:36 – Wrap up and thank you

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With the release of the Final Rule on Employee or Independent Contractor Classification by the U.S. Department of Labor, businesses will have to audit their workforce to determine if individuals are classified properly under the Fair Labor Standards Act. The rule takes effect March 11, 2024, unless it is challenged in court and enjoined. Gene Marks explains the six factors businesses have to consider when analyzing a worker’s classification, and why the financial stakes are so high if improperly done. Listen to the Paychex THRIVE Week in Review podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Digital technology that gave us texting hasn't devalued phone conversations, which are a treasure trove of insights that can help boost a company's lead generation and growth. Ryan Johnson, the Chief Product Officer at CallRail, tells Paychex THRIVE podcast host Gene Marks that businesses relying heavily on phone calls for lead generation can maximize their marketing efforts with the granular details his company can obtain from their AI-powered lead intelligence platform. It can integrate with other systems to provide instantaneous information about the client beyond their name, including where they are calling from, keywords from the conversation that can assist in auto-qualifying a lead, and much more.

Topics Include:

00:00: Introduction and welcome Ryan Johnson 01:48: What is CallRail? 02:00: What does CallRail technology do? 04:14: How CallRail technology integrates with other systems 00:05:10: Explanation on dynamic number insertion 00:08:00: Discussion on data capturing 00:09:22: Discussion on conversation intelligence 00:12:20: Application of conversation intelligence 00:16:42: Integration with CRM applications 00:18:00: Characterizing the ideal CallRail customer 00:19:53: Personal example of how CallRail can benefit businesses 00:21:10: Wrap-up and thanks to Ryan Johnson

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

For 33 consecutive months, the small business community has shown resiliency by adding jobs. Highlights from the Paychex Small Business Employment Watch includes data from the region and major metros consistently leading the way. The federal government also released positive numbers on jobs, but primarily in only four industry sectors. Gene Marks shares what this might mean for businesses, as well as why employers should be prepared with another looming federal government shutdown. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Gov. Phil Murphy of New Jersey has his sights set on making the Garden State the East Coast AI hub. Working with Princeton University, his administration is assembling a task force with people who can handle the tech side and the practical governance in hopes of using the results to improve the delivery of government services and more. Gov. Murphy also talks with host Gene Marks on the Paychex THRIVE podcast about how the Main Streets of New Jersey could get a boost from a change in the liquor license laws, plus how he is staunchly pro-organized labor in rebuilding the middle class and the economy.   

Topics Include:

00:00 – Welcome, Gov. Phil Murphy

01:53 – Introduction to Murphy

02:34 – Discussing AI initiatives

04:13 – What is the AI task force and its scope

07:19 – Resources behind AI hub

10:53 – AI task force goals

17:18 – Updating the liquor license laws?

20:52 – What modern liquor license laws can accomplish

23:34 –Organized labor and small businesses in N.J.

24:11 – Support for unions and the potential impact

27:18 – Wrap-up

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

People want an online experience where they can easily find what they’re looking for. Algolia provides the AI search tools to help businesses make their content or products more searchable. In fact, if Algolia was a public company, it would be the second-largest search engine in the world behind Google. Sean Mullaney is chief technology officer at Algolia and joins Gene Marks on Paychex THRIVE, a Business Podcast, to share what the company is all about and how they are integrating AI in their efforts to help businesses build better digital experiences for customers.

Topics Include:

00:00 – Welcome, Sean Mullaney

00:42 – Introduction to Sean Mullaney

01:29 – What does Algolia do?

03:36 – How e-commerce benefits from Algolia’s efforts

05:45 – AI and its use in enhancing searchability

10:11 – Bringing personal assistant-type experience to the web

13:50 – Leveraging technology, staying nimble can benefit small businesses

14:49 – Wrap-up

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

According to a recent worldwide survey, 25% of people are prepared to leave their current jobs, with better pay and perks topping the list of desires, and work-life balance valued, as well. Gene Marks shares some thoughts on this, as well as the apparent protest move of coffee badging, which should really make employers take a closer look at their office policies about remote work. The IRS is accepting the return wrongfully attained ERTC funds – and is throwing in a discount – and you’d be surprised what state one study found to be the hot spot for new businesses in 2024. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Despite disparity in the reporting of e-commerce sale figures, one thing is apparent: people are spending and the holiday shopping season is off to a good start. However, Gene Marks still has reservations on sustainability in 2024 because the GDP currently is being propped up by U.S. consumers. In other news, extensions are afloat, from a bill seeking to change the beneficial ownership information reporting deadlines to pushes by each party around R&D credits to child tax credits. Get more details in the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Rising to the C-Suite takes more than just an MBA. Host Gene Marks has a conversation with recently retired Paychex CFO and current senior advisor to the CEO, Efrain Rivera, about his interesting career path and the crucial aspects he sees as being essential in business. This episode of Paychex THRIVE, a Business Podcast, also shares insights on financial literacy, strategic decision-making, hiring, technology, professional relationship building, and more, and how leveraging that knowledge to create innovative solutions and strategic investments can promote a company’s overall growth.

Topics Include:

00:00 – Welcome, Efrain Rivera

00:56 – Introduction to Rivera

03:12 – Pivoting in your career

05:03 – The role and value of an MBA degree

09:27 – Challenges and decisions during major change

13:12 – Risk-taking vs. gambling in business

16:01 – Hiring for attitude not aptitude and the challenges

21:35 – How to motivate a team

24:09 – Discussion on current state of business

25:01 – Safe investments in present economy

30:02 – Balancing indicators from Wall Street and Main Street

31:38 – Small businesses in the current economic state

35:10 – What makes a potential startup appealing for investment

36:20 – Balancing an entrepreneur’s skill set

44:35 – Wrap-up

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Unemployment has dropped, jobs are being added, but job openings are decreasing by millions. Gene Marks says this gives him reservation but also shares that small businesses have opportunities to add some quality talent. Also available for your business is a chance to lower taxes by using write-offs, paying bonuses, cleaning up the balance sheet. And have you heard of food digging? Gene shares insights on a new practice by some restaurants but he also has reservations. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In an effort to combat illicit activities such as money laundering and terrorist funding, the Financial Crimes Enforcement Network (FinCEN), under the authority of the Corporate Transparency Act (CTA), will require businesses to report beneficial ownership information (BOI) starting in 2024. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks speaks with Stephen Dombroski, a Senior Payroll Tax Manager in Compliance for Paychex, on compliance requirements, potential penalties for non-compliance, and what information is being requested, and the covered businesses expected to report under the CTA.

Topics Include:

00:00 – Welcome, Stephen Dombroski

00:29 – Introduction to Dombroski.

01:27 – What is the Corporate Transparency Act

03:10 – Which businesses does the act apply to

04:06 – What businesses are exempt from BOI reporting

06:17 – Resources to help with compliance

07:35 – What information has to be reported?

10:06 – Explanation of beneficial ownership

10:52 – Security of information being reported

11:49 – Deadlines for BOI reporting

15:26 – Penalties for non-compliance

21:34 – How Paychex can assist in reporting

22:29 – Wrap-up

Learn more about beneficial ownership information reporting at https://www.paychex.com/articles/compliance/beneficial-ownership-information-reporting.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The U.S. and China begin the tariff walk-back dance that will last for 90 days, giving businesses time to make alternative plans. Gene Marks says those doing business with China will have to make plans because he doesn’t expect the volatility being created to clear up soon. Additional relief is coming for businesses who use independent contractors, as Gene explains that the USDOL will stop enforcing the 2024 Independent Contractor Rule. Owners can help employees in default with student loans by taking advantage of tax credits in place through 2025, and Gene shares how. Listen to the episode.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The University of Michigan’s monthly consumer sentiment survey shows a fourth straight decline, which has Gene Marks worried that, despite signs to the contrary, Americans might be slowing on their purchase of goods. Some businesses might be disproportionately disadvantaged if a proposed rule for banks creates a credit access issue. And the time might be right for smaller businesses to win the battle for labor, as 21% of all job openings in the U.S. are at businesses with 1 to 9 employees. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In this episode of the Paychex THRIVE, a Business Podcast, host Gene Marks talks with Thea Ducrow, CEO of Creative AI Leadership Consulting, about the role of artificial intelligence (AI) in human resources (HR) for small businesses.

Learn about the advancement of AI applications, such as ChatGPT and how it can benefit business owners by providing smarter and more professional assistance. Gene and Thea also dive into debunking the extreme views about AI and job loss, and provide insights and education to HR professionals, emphasizing that AI is not a replacement for human judgment, but rather an assistant that enhances productivity and accuracy. Take a listen and learn how small business owners can embrace AI platforms like ChatGPT, which can offer valuable resources, data, and policies, including compliance guidelines, to help streamline business procedures.

Topics Include:

00:00: Episode Preview 01:27: Introduction to Thea Ducrow, CEO of Creative AI Leadership Consulting 02:37: Discussion about ChatGPT's improvements and capabilities 04:31: Concerns and benefits of AI and its influence on jobs 06:45: Practical applications of Chat GPT in business 07:32: The importance and benefits of proper communication with AI systems 09:42: Addressing fears and utilizing AI's potential in HR 12:00: The focus on human connections in HR and the role of AI 15:22: Concerns and adaptation strategies as AI quickly improves 17:45: Keeping up-to-date with new regulations and AI's capabilities 22:39: Addressing privacy concerns in AI policies 26:44: Future expectations from AI 28:35: The impact of AI on jobs and the economy 29:57: Closing remarks & future aspirations

Have a guest or topic you’d like to suggest for the show? Submit your ideas here: https://bit.ly/3kFt4A9.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

No news is good news, according to Gene Marks, who shares details about the IRS delaying the Form 1099-K threshold change in 2023. So, if you’re using a third-party platform such as PayPal or Venmo to receive payment for services, you have a reprieve this tax season. Gene also talks about the State Small Business Credit Initiative that is pumping millions into states to share with disadvantaged and minority-owned businesses. Plus, hybrid work policies are found to increase productivity. Listen to the podcast.

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.