Employee Benefits

Financial Planning: One of the Best Employee Benefits San Francisco Bay Area Businesses Can Offer

ranjan.254 / June 20, 2025

This past weekend’s NFL playoff games were maybe some of the best post-season games to watch in a long, long time… with some of the most unexpected outcomes. Who would have believed that all but one of the top teams from the regular season would be unseated from a Super Bowl trajectory? The power of the underdog is not to be underestimated. But surprising outcomes and the power of the little guy is a story employers all over the country are all too familiar with right now. The Great Reshuffle has businesses everywhere – large and small, new and old – scrambling to figure out how to hold onto their employees or even hire new ones. Providing the best employee benefits has become the name of the hiring (and retaining) game these days. But before I get into more about employee perks… As you know, tax filing season is officially here, and we are itching to start processing our San Francisco Bay Area business clients’ returns. And getting ahead of the game is going to be almost essential this year. With the IRS still jammed up with old returns, processing credits, sending letters, and more – the sooner we can get your 2021 paperwork processed and submitted, the more likely you are to stay ahead of the IRS’s delays. Busy is the reality we are living in over here at ONeill & Bergado, more than we’ve ever been in past years. So don’t hesitate to grab an appointment time on our calendar as soon as possible:(408) 241-4100 Now, back to discussing employee perks… Financial Planning: One of the Best Employee Benefits San Francisco Bay Area Businesses Can Offer“Give me six hours to chop down a tree and I will spend the first four sharpening the ax.” – Abraham Lincoln Employee perks are a way of life in business and though they vary from business to business, things like health insurance, PTO, flex time, even Friday donuts are pretty common. However, there’s another perk you might not have considered and could be one of the best your company has to offer: financial planning sessions. In this current economy, with inflation slapping everyone in the face, hooking your San Francisco Bay Area employees up with financial planning could be beneficial … for them, and for you. What do you get out of it? Did you know that almost two out of every five Americans can’t comfortably cover an unplanned expense? Odds are at least somebody on your staff could hit lean times if they had to fork it over for a medical problem or an emergency car repair. Money woes are top-of-the-heap troubles for many employees, though they would probably never mention it. And what’s one of the first steps in tackling any problem? Planning. Frankly, it’s surprising just how little most people think about planning with their money or how much financial literacy is not a priority. And, for the most part, they still don’t teach either subject in school. Plus, sitting down with a financial planner remains out of the reach of most American workers mainly because of the cost (but even because of mindset). Imagine how much it would impact your employees if you could help them tackle a scary problem like bad finances? As perks go, offering this could be one of the best employee benefits you offer, and it would make you stand out in their eyes – and in the eyes of any potential hires they might refer to you when you have jobs to fill. Money woes also serve as a huge distraction for your workers. Helping them with money troubles could result in more engagement at the office. And since money troubles tend to stress people out – and we all know the toll stress can take on our health – helping them to have a financial plan means peace of mind for them and better overall health. Added bonus for you: less employee sick time. Helping employees plan with their money can also mean they’re not always pressing for a raise – or threatening to dump you for better money elsewhere (though offering perks doesn’t take the place of building a great working culture where employees feel seen and their needs cared for – the best deterrent for employee dissatisfaction). Overall, then, offering financial planning as a perk can be a win-win, pure and simple. What if they don’t wanna do it? Though offering financial planning sessions could be one of the best employee benefits you offer, the whole idea could flop, that is… if you just whip it on your people without preparing them for it first. Money is a touchy topic even when all’s well. Nobody’s going to open up about their wants and fears about money unless you make it clear what’s in it for them… and you have answers ready for their objections. I don’t have enough money to plan with. Sitting down with a planner is especially important for these folks, who more than most, need tips and tricks to whittle debt and stick to a budget as they move toward bigger goals like home-owning or retirement saving. I don’t need a planner – and I’m too old to start planning. That’s like somebody claiming they have too many friends… Is their retirement all locked up? Are they going to pay the kids’ tuition with twenties from under the mattress? People put off thinking about stuff that has no easy answer. Everyone can always do better with money. And it’s never too late to start. I’m not showing some stranger my dirty laundry. Any good planner looks forward, not back, with clients. They look to understand someone’s past decisions, not judge them. I can’t afford a financial planner – and I can’t find a good one. You’ve taken care of this one for them, haven’t you? Speaking of financial planning … How much is this gonna cost me? Let’s say you just want a planner to sit down for an hour or so a couple of times a year with your interested staffers. Advisors’ prices

A PTO Payout Policy Checklist for San Francisco Bay Area Business Owners

This weekend’s news coverage and social media scroll were dominated by reports of the awful things happening in Israel right now. It’s pretty difficult to swallow the images of violence and abuse being perpetrated by Hamas. And no matter how many times you hear about these kinds of things, it never gets easier. But even with difficult things like this, be mindful of letting your thoughts and feelings be dominated by the coverage. There will always be something to read and take in, but these things have a way of igniting emotions to a breaking point if they’re not regulated. And, as a business owner, you need to make sure a good portion of your energy is spent on what pertains to your business. Before I move on, let me also briefly address what you should do if you have an Employee Retention Credit (ERC) claim submitted to the IRS that’s been put on pause. The primary thing you need to keep in mind is that if you get faced with an audit about the claim, the IRS will want concrete evidence and documentation to support your eligibility. So make sure you have that in order. It’s your best defense against over-zealous investigators. So, on to what I want to discuss today. I wrote recently about some of the other paid time off policy options out there for businesses to offer besides the “use it or lose it” approach. A fellow San Francisco Bay Area business owner responded to share how she was kicking herself for not having more clearly defined PTO payout rules in place in her own office. She had apparently found herself in a financial pinch when two of her staff resigned and opted to take their unused vacation days as paid time after their last day in the office. Because she had no PTO payout rules in place to govern when employees could take that benefit (her state doesn’t require payment of accrued vacation time upon separation), she opted to pay those staff members for their unused days to avoid potential legal confrontation over her vague vacation policy wording. That’s a place none of us want to be in, especially because it’s entirely avoidable. So with that in mind, and as we’re rapidly approaching EOY, I’d like to show you some policies to make sure you have included in your official vacation benefit package. A PTO Payout Policy Checklist for San Francisco Bay Area Business Owners“The biggest lesson I’ve learned by living a little is you should always put things in writing.” ― Richard Branson Because PTO payout rules vary from state to state, you’ll want to start by verifying the local laws you’ll need to abide by first. You can find those PTO payout laws by state here. Whether your employees get paid for their unused vacation days when they say their goodbyes depends on two things: your company’s policy and your state’s laws. Some states have specific rules about this, while others leave it up to the employer. In most cases, it’s the company’s call. You decide whether or not to dish out some extra cash for those unclaimed PTO days when an employee leaves. But here’s my main point today – you need a well-defined PTO payout policy in place to guide this process. I should point out that there’s technically no federal law that forces businesses to offer PTO to their workers. It’s not a requirement. But, let’s be real, offering PTO makes for happier employees and will help you attract better talent. Now, if you’re thinking about creating or changing up your own PTO payout policy, here are some definitions and provisions to include: 1. How payout is calculatedYou (the employers) are responsible for stating how PTO hours are tallied and calculated, while also withholding taxes according to IRS regulations. Vacation pay doesn’t always fall under the category of supplemental wages, but when it’s disbursed as a vacation payout, it becomes subject to a flat 22% supplemental income tax. 2. How to handle sick daysIn 14 states and Washington, D.C., employees have the right to get paid when they’re sick. It’s a state thing, not a national one. So, think about whether you want to pay your employees for unused sick days when they leave. 3. Timing of payoutIf you’ve got a policy for paying out unused PTO, there’s usually a deadline. Most times, it’s within 30 days after the employee leaves. 4. The reason for separationIn some states, it doesn’t matter if an employee gets the boot, gets laid off, or decides to call it quits – they still get paid for their unused PTO. But that’s not the case everywhere. Some places let you decide if the reason for their departure affects the payout. If your state doesn’t spell it out, make sure your policy does. Now, this list isn’t comprehensive. There’s more to it, and that’s where an HR pro can lend a hand. They’ll make sure your San Mateo company’s policy abides by local regulations while also contributing toward a happier workplace. To being prepared, Patti ONeill and Gale Bergado

Financial Planning: One of the Best Employee Benefits San Francisco Bay Area Businesses Can Offer

A PTO Payout Policy Checklist for San Francisco Bay Area Business Owners

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