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Hiring & Managing Employees


The key to having the right people in the right places doing the right things is supervision, entrepreneur Ned Stagg advises. Setting up a proficient team to run an organization can give the business owner more flexibility to focus on future growth. 


Q&A: Setting Up Payroll

Your growing business may need to bring on a dedicated support system of staff. Before you start writing job descriptions and coordinating interviews, make sure you’ve planned how you’re going to pay new employees and ensure their rights in accordance with federal and state labor laws.

1. Do you have an Employer Identification Number (EIN)?

2. Do you need state or local tax IDs?

3. Do you want to hire independent contractors* or employees?

 *Functioning under a separate business from your own, an independent contractor is self-employed and provides their goods or services to your business.

4. Have your employees submitted their W-4 forms?

5. Are pay periods scheduled in line with IRS tax withholding?

6. How do you plan to compensate for holiday, vacation, and leave?

7. Which payroll service will you use (in-house or external)?

8. Who will manage your payroll system?

9. Which records should stay on file, and for how long?

10. How will you report payroll taxes quarterly and annually?

For a detailed summary on tax information, check out the Employer’s Tax Guide that’s published by the IRS. The document covers your responsibilities as an employer for withholding, depositing, reporting, paying, and correcting taxes for your staff members.

Offering Employee Benefits

Don’t underestimate the power of employee loyalty. You want to hire great people and give them an incentive to stay and contribute to your bottom line. Providing an attractive benefits package shows your employees that you’re invested in their futures.

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Watch

Bakery Lorraine’s Owner on The Value Of Creating a Company Culture that Earns Loyalty

Charlie Biedenharn doesn’t have a secret formula for keeping great employees — he says he focuses on creating a work environment that he would want to be part of and where he would want to stay.

Hear more from Charlie about how he and his partners successfully expanded Bakery Lorraine’s footprint in San Antonio. Listen to his episode of the San Antonio Business Heroes podcast. 


The opinions expressed in the “San Antonio Business Heroes” are solely those of the interview subject and do not necessarily reflect any position or opinion of The Bank of San Antonio. The advice in each interview is given for general purposes only and may not apply to your particular situation.