A severance agreement is a contract between an employer and an employee that outlines the terms of a severance package upon employee separation. It covers various aspects, including financial compensation, benefits, confidentiality clauses, and non-disparagement agreements. Severance packages are generally a company perk—unless there’s an employment agreement or collective bargaining agreement that requires one upon…
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What Is Agile Project Management: Types, Methods & Benefits
Agile project management (APM) is the process of breaking down projects into smaller, manageable sections to focus on the continuous improvement of a product or service. With this approach, teams enhance their speed and collaboration by repeatedly adjusting to changing feedback and requirements throughout the project life cycle. In this article, we explore what agile…
What Are Payroll Taxes & What Do Employers Pay?
Payroll tax is the sum of taxes that are withheld from an employee’s wages by employers. These taxes are directly remitted to the government and consist of Federal and State unemployment taxes, Social Security, and Medicare taxes. As a small business owner or payroll employee, understanding payroll taxes is non-negotiable. They play a substantial role…
What a Small Business Letter of Credit Is & How It Works
A letter of credit is issued by a bank or other financial institution as a way to guarantee payment in the event the customer does not pay. This can be especially useful when conducting business internationally or when making large complex purchases where failure to receive payment could result in cash flow issues. Companies that…
What Is Quiet Enjoyment in Real Estate? A Guide for Landlords
The covenant of quiet enjoyment is embedded within many commercial and residential leases to assure tenants that their leased premises will be free from significant disturbances. For landlords, understanding and upholding this concept is a legal obligation and a critical aspect of property management that fosters positive tenant relationships. Understanding what quiet enjoyment is, the…
What Is User Presence? A Guide for Small Businesses
User presence is a feature that shows the status of connected users and co-workers within a communications platform. This technology is a unified communications as a service (UCaaS) application that recognizes when a specific IP address, user profile, or device is active on a network. This feature allows users to change and display their status…
What Are Employee Wellness Programs? A Small Business Guide
Employee wellness programs are designed to support the overall health and welfare of employees within a company. They often include a variety of activities and resources aimed at promoting physical, mental, financial, social, and holistic wellness. From fitness challenges and nutrition counseling to stress management workshops and mental health support, employee wellness programs offer a…
What Is Call Screening? How It Works & Benefits for Small Businesses
Call screening helps businesses filter unwanted calls and prioritize known clients, allowing teams to control daily phone call volumes and increase employee productivity. While capabilities vary per voice-over-internet-protocol (VoIP) provider, call screening typically includes caller identification (ID), do not disturb (DND), and call blocking functionalities. Learn what call screening is and how it improves business…