CenterPoint Payroll by Red Wing Software has earned 4.5 stars in the 2017 CPA Practice Advisor Review of Professional Payroll Systems. The prestigious yearly review rates professional payroll systems on a scale, with 5 being the highest rating. Read the entire review by clicking on this link!

Are you a driver or a passenger? It seems a lot of the things I’ve been reading and observing lately are related to this question. I’ll give you a few examples of what I’m talking about.

At a seminar I attended last summer, the presenter had the audience watch a video and afterwards tested us on what we saw in the video. While the group focused on the main subject of the video, a person in a monkey suit walked past in the background. When the presenter asked what significant things we saw in the video, almost no one remembered seeing the monkey. As a driver, you need to be focused on the task at hand, but also need to be aware of what’s going on around you.

To support one of my hobbies, I subscribe to many aviation publications that come at least once per month, and in many of the publications there are summaries of accident reports. I read these religiously, because in this case, I would rather learn from the mistakes of others, than learn from my own. In one case, an airplane with two pilots crashed when a warning indicator light came on and in an attempt to troubleshoot the problem, both pilots focused on finding the source of the failure, and neither pilot remembered to fly the airplane. The result wasn’t pretty.

Here’s one we all see every day: someone “driving” down the road while talking on the phone, sending a text message, eating, or you name it. They clearly are not aware of what’s happening around them because they don’t maintain constant speed, they wander about in their lane, don’t go forward when the light turns green, or any number of other obvious non-driver acts. I argue that many of these people are passengers in a car with no driver.

Here’s one last example that hits close to home: my mom once told me that when she and her friend travel together, one person is behind the wheel and the other is driving. I’m not sure what to think of that one.

My point to all this is, that when running your business (driving), and while focusing on the task at hand, don’t forget to pay attention to your peripheral vision. You might regrettably find that the task you’re focused on is being handled very well, while the business is crashing around you.

- Ken Hilton, President

Kenyon Hill Farms and Vir-Clar Farm featured in Progressive Dairyman

Red Wing Software customer, Kenyon Hill Farms, was featured in the March 12, 2017 issue of Progressive Dairyman. The story, entitled Efficient and Functional Barn Design Critical for Robotic Milking, details their experience in designing a barn with robotic milking.

Vir-Clar Farms, a Red Wing Software customer, was also featured in the March 12, 2017 issue of Progressive Dairyman. The story, Vir-Clar Farms Grants the Wish of a Lifetime, describes how Vir-Clar Farms was able to help make Edsel Wiegert’s dream come true by giving him a tour of a modern dairy.

This article is from our friends at Human Interest .

If you’re a small business owner, you probably think providing a 401(k) isn’t a possibility, given your budget. A 2014 Government Accountability Office report found that just 14% of businesses with under 100 workers offered an employer-sponsored retirement plan, even though 68% of businesses that didn’t offer a 401(k) said that it would help attract and retain talent. Employees agree: a 2016 study found that nearly half of employees surveyed rated defined-contribution retirement plans like 401(k)’s “very important” to job satisfaction.

Offering a 401(k) helps your employees, your business, and yourself – and it’s more affordable than ever. We’ll break down six myths about providing 401(k)’s, and make the case for offering this much-valued benefit.

Myth 1: Small businesses can’t afford 401(k)’s

You may think that 401(k)’s are only financially viable for big businesses. Not so long ago, that might have been true – small businesses were paying disproportionately more for a 401(k). A 2012 GAO study found that companies with under 50 employees paid nearly twice as much for record-keeping and administrative services (0.43% of assets) than did companies with over 500 employees (0.22%). However, recent developments in technology and outsourcing have made 401(k)’s affordable for businesses of all sizes.

Plus, 401(k)’s offer much better tax advantages than simple salary increases or bonuses. You can get tax deductions or credits for setting up the 401(k) plan, maintaining it, and matching employees’ contributions. From the employer and employee perspective, a 401(k) offers better tax treatment  than a salary bump or bonus of the same amount.

Myth 2: There’s too much red tape

Again, even as of a few years ago, the amount of paperwork required to offer a 401(k) might well have been more than a small business could handle. The bookkeeping, accounting, and record-keeping work was daunting, especially for companies without a formal human resources department.

In recent years, though, technology has changed the retirement benefits landscape. For example, enrolling in and managing your 401(k) plan can now be done entirely online, and outsourcing HR benefits administration to a third party drastically reduces the burden on small business owners, who are already wearing plenty of hats as it is.

The manual processes of withdrawing contributions from employees’ paychecks, changing contribution amounts, and fielding employee questions can be taken entirely off of your plate – and many 401(k) providers sync with payroll providers to further reduce friction.

Myth 3: My employees won’t participate anyway

If your employees know the benefits of saving for retirement in general, and the tax advantages of contributing to a 401(k) in particular, they’ll likely show a high participation rate. When a 401(k) is available and easy to sign up for (i.e. no faxing of paperwork required), employees tend to be on board. According to the Department of Labor, around 70% of employees overall participate in their companies’ 401(k) plan; automatic enrollment could up that number to 85%.

If your plan provider educates your employees about the new plan and offers low-friction signup, you’re likely to see great participation rates.

Myth 4: Finding good investments is too time-consuming

The 2013 GAO study found that small business owners thought selecting investment options was too challenging, especially if they employed both older and younger workers. Fear of choosing the wrong investments, or even facing legal challenges, deters many business owners.

However, you can choose a 401(k) provider with a wide selection of investment opportunities that range from aggressive (for younger employees) to conservative (for older ones). Low-cost mutual funds allow you to invest based on industry, location, company size, and risk tolerance while minimizing fees. A good 401(k) provider will provide cost-effective options that appeal to all of your employees – without causing you and your employees unnecessary stress.

Myth 5: I should invest in my business instead

You’ve bet big on your company, and it’s only natural to want to maximize profits to ensure your own comfortable retirement. However, relying solely on your business to fund your retirement is a risky proposition at best: the reality is that 80% of small businesses fail within a year and a half. Even worse, a full 60% of small business owners say they haven’t saved enough for retirement. If your business offers a 401(k), you can make tax-advantaged contributions to your own safety net, setting yourself and your employees up for a financially secure retirement.

Are you considering offering a 401(k)? See how much 401(k)’s actually cost employers and check out Captain401’s low-cost retirement plans.

• Stephanie Elsen (Marketing Manager) was featured in the Red Wing Republican Eagle, the local newspaper, in a “Faces A to Z” story . Stephanie is active as a board member with the Red Wing Port Authority, helps plan local events, and teaches tech classes at Red Wing Ignite, in addition to her job at Red Wing Software. She answered some questions for locals to get to know more about her. Read the story here.
• Connie’s (Technical Writer) daughter, Jenna, danced in the Minnesota State Dance Competition and her team took 5th place. Jenna also received the Jazz All-Conference honor and was selected to dance on the Minnesota All-State Jazz Team.
• Julie (Sales Engineer), her son Joey, and his girlfriend, Somer, participated in the Hustle up the Hancock event in Chicago. They climbed 94 floors in support of those with respiratory disease. It was the first time for all three of them. Joey did it in 15 minutes, Somer in 20 and Julie pulled up the rear with a 30 minute climb.
• Mike (Quality Assurance Manager/Project Manager) and family visited Arizona for spring break. While there they saw the Grand Canyon and Sedona, a Nascar race and a MLB spring training baseball game.