Raleigh, NC, September 14, 2011 --(PR.com
)-- Headway Workforce Solutions, a North American recruitment and contingent labor provider, announced today it is releasing a free online SUTA Impact Widget that calculates the cost and impact businesses may realize from unemployment tax rate (SUTA) increases. The company also released an Analyst Statement that outlines how various SUTA rate increases by many states can adversely affect a business’s bottom line results.
“We realized that for many companies and organizations, these large state unemployment tax increases can dramatically impact their bottom lines,” stated Headway’s CEO and President, J.P. Sakey. “We also wanted to provide them with a useful and easy to use online tool that illustrated the costs associated with SUTA increases and what methods are available for them to help mitigate these unemployment tax rate increases and burdens,” stated Sakey.
Headway’s Analyst Statement reports that many states facing tax shortfalls have increased their SUTA unemployment insurance rates to alarming levels. Maryland, for example, has increased its minimum SUTA rate charged to employers by more than 630% from the 2008 to 2010 period alone.
Many times retailers, seasonal entities and businesses rely upon limited duration workers for projects or short-term (less than 12 months) employment. Often employers of these limited duration (seasonal) workers can potentially face greater uncertainty, higher unemployment tax rates and experience ratings, which can adversely affect their entire workforce population with higher costs. Headway’s Analysts Statement and SUTA Impact Calculator are available online at: www.headwaycorp.com/sutaimpact
Headway Workforce Solutions connects organizations with superior talent and strategic workforce solutions that improve operational and financial results. The company’s centralized and technology-driven nationwide delivery optimizes direct-hire recruitment and contingent (temporary) workforce performance. Learn more by visiting www.HeadwayCorp.com.
Department of Labor, National Association of State Workforce Agencies, Department of Treasury, Staffing Industry Analysts, Michigan UIA,
CNNMoney, Internal Revenue Service. Office of Unemployment Insurance.