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HR/Employee Strategies

5 Insights for Making the Most of Your Baby Boomer Employees

As the labor market tightens, it’s natural for business chiefs to focus on attracting and keeping Generation Y, which at once has become both the most numerous population of working Americans and the most influential in many ways. But they also should strive to manage effectively their oldest generation, boomers, who comprised the previous largest generation and whose skills, preferences, strengths and weaknesses largely have shaped the modern economy.

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Use of Independent Contractors Presents Significant Legal and Business Risks

The benefits to businesses of classifying workers as independent contractors (and not employees) are many: lower taxes, greater freedom from government regulation, exemption from many laws governing the workplace, and potentially lower labor costs. The border between contractors and employees is blurry, however, and businesses must be careful to avoid misclassification, as significant liabilities may arise from getting it wrong: unpaid wages, liquidated damages, back taxes, disqualification of benefit plans, overtime liability, contributions to retirement plans, social security and FICA payments, and even criminal penalties (in rare circumstances).

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