Navigating Minimum Wage Changes, Hybrid Work Strategies, and Employee Stock Ownership Plans

In this episode of the Paychex THRIVE Week in Review podcast, host Gene Marks delves into the upcoming increase in minimum wages across several states, including California, and ponders the possibility of a national minimum wage change. Shifting gears, Gene examines the evolving landscape of remote work, highlighting a study revealing that many bosses regret their initial return-to-office decisions. He emphasizes the importance of flexibility and taking employee needs into account when formulating work-from-home policies. Lastly, Gene explores the benefits of Employee Stock Ownership Plans (ESOPs) and their potential advantages for both business owners and employees. He cautions listeners about recent IRS scrutiny of ESOPs, emphasizing compliance and proper setup. Tune in for valuable insights on these timely business topics.

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