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Hey there, Welcome to Tools of the Trade, Hourly's monthly newsletter for all things small business.
Today, you'll find out about payroll debit cards that don't require a bank, the negatives of cutting prices to boost sales, and how we're giving you $200.
Let's get into it.
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How Hourly helps you stop time theft in its tracks
According to the U.S. Bureau of Labor Statistics, the average wage in America is $32 an hour or $1,096 a week. If an employee is consistently showing up 15 minutes late, that amounts to almost $2,000 in stolen time per year.
With Hourly Time Tracking, you eliminate the “oops I showed up late” moments by using GPS and geofencing settings to make sure your workers are on site when they say they are, saving you thousands of dollars.
Did we mention you can do this from your phone, wherever work takes you?
Sound interesting? Schedule a quick walk-through with your Customer Success Manager!
How R&R Specialities Painting dodged a staggering $81K audit bill
R&R Specialties Painting grew rapidly from its early days — when it was just owners Roy and Rita Gonzales — to a company with 50+ employees. To support all that exciting growth, Roy and Rita turned to Hourly to seamlessly connect their payroll with their workers’ comp policy. “Our recent workers' comp policy estimate was $54,042. But business boomed in 2022, ballooning our payroll as we hired new employees to meet demand,” Roy said.
At the end of the year, R&R Specialties’ actual workers’ comp premium was $134,857 — almost 2.5x more than initially estimated.
The discrepancy between the estimated and actual premiums means they would have gotten hit with an $80,815 audit bill.
Their final workers’ comp audit bill, with Hourly? $237.
Hourly’s pay-as-you-go workers' compensation can calculate your workers' comp premium with unparalleled accuracy. We use real-time data so you never overpay and your premium audit is a breeze!
The words “Yelp review” might be scary to you, but the fact is, getting people to review you can really help your business. Here's how to use Yelp to your advantage in four easy steps! 1.Claim the business: By claiming your business, you not only take control over your online reputation but you have the opportunity to respond to reviews, add important business information like your address, URL and hours, and grow your business with ads.
2. Post Yelp stickers: You have seen them before, those stickers in stores and restaurant windows that say, “People love us on Yelp!” or “Find us on Yelp.” This is your way of letting people know that you want, like, and appreciate Yelp reviews. These stickers have been shown to be especially effective when placed near the cash register and the exits so they are the last thing customers see. Don't have a store front? You can place it on your truck, van or your invoice too!
3. Share positive Yelp reviews: Sharing positive reviews on your website and social media is a great way to get other people to post their own positive reviews on Yelp. It can also help you sell more! In a 2017 study, Northwestern University's Spiegel Research Center found that a product is 270% more likely to be purchased if it has five reviews or more vs. no reviews.
4. Respond to bad Yelp reviews: Surprisingly, this may be one of the most important pieces of advice. If you get a negative review, the key is to respond to the review in a timely manner, seek out the reviewer and work to solve the problem. By doing this, you show that you really care about providing a great customer experience!
One of the best things your business can do People consult Yelp reviews in particular when deciding where to spend their dollars. That means getting positive reviews on Yelp is one of the best things your business can do.