| September 28, 2011 |
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In The News Paychex Inc., a payroll processing firm that also provides professional employer organization services, reported revenue in its human resource services segment rose 16.6 percent on a year-over-year basis to $169.7 million during its fiscal first quarter ended Aug. 31. Paychex’s human resources services segment includes PEO revenue as well as revenue from other services. National study tracks ongoing efforts to trim employee and retirees costs. About 42 percent of the nations' cities, counties and townships expect their revenue to fall again in 2012, according to a national study of over 1,690 local governments across the country. Local leaders are confronting employee health costs to help balance budgets. (read more) Veronis Suhler Stevenson, a private investment firm targeting companies in the information, education, media, communications and business services industries in North America and Europe, forecasts that the U.S. Communications Industry spending is on pace to grow 4.1% in 2011 to $1.120 trillion and forecast to expand at a 5.5% compound annual growth rate (CAGR) in the 2010-2015 period, outpacing nominal GDP growth by 90 basis points. By the end of 2015, the Communications Industry will be the eighth-fastest-growing and fourth-largest U.S. economic component, according to the 25th edition of the VSS Communications Industry Forecast 2011-15. Fortune Industries Inc., provider of professional employer organization services, reported revenue rose 6.0 percent in its fiscal year ended June 30, 2011. Revenue was $64.3 million, up from $60.7 million posted the prior fiscal year. Survey Says ... Thirty-Eight Percent of Workers Seek New Jobs, According to Globoforce Workforce Mood Tracker Semi-annual survey reveals lack of employee recognition a driving factor behind increased employee dissatisfaction and turnover Globoforce, the world’s leading provider of SaaS-based employee recognition solutions, released the results of its latest Globoforce Workforce Mood Tracker. The semi-annual survey* provides key insights into the current pulse of the U.S. worker. According to the September 2011 report, a startling percentage of employed Americans are considering leaving their jobs despite an uncertain economy with a lack of new job creation. The September 2011 study also reveals a direct correlation between employees’ intent to look for a new job and the level of recognition they receive at work. To download this latest report, visit: http://www.globoforce.com/mood-tracker-september-2011. News from the IRS Voluntary Classification Settlement Program The Voluntary Classification Settlement Program (VCSP) is a voluntary program described in Announcement 2011-64 (PDF) that provides an opportunity for taxpayers to reclassify their workers as employees for employment tax purposes for future tax periods with partial relief from federal employment taxes. To participate in this new voluntary program, the taxpayer must meet certain eligibility requirements, apply to participate in VCSP by filing Form 8952, Application for Voluntary Classification Settlement Program, and enter into a closing agreement with the IRS. The VCSP allows eligible taxpayers to obtain relief similar to that currently available through the Classification Settlement Program. Permalink . - . Today's In depth News . - . Email a Friend . - . Feedback
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