When a business misses payroll, it endangers the relationship between the company and its employees. The business likely can’t function without its employees’ labor. Inability to make payroll can also damage a business’s reputation. Here’s how businesses can avoid this serious problem and what they should do if it happens.
Making payroll is an essential business function
Your employees are one of your business’s most valuable assets; without them, you wouldn’t be able to provide services or products.
As a small business owner, you need to foster a positive work environment and ensure your employees are fairly compensated for their work. As such, you should avoid missing payroll at all costs. If you miss it, not only will your employees look for job opportunities elsewhere, but you could also face legal trouble.
Dispatches From The Front 