May 30, 2023

You’re reading Gusto’s newsletter for growing businesses. If you’d like these bi-weekly updates in your inbox, you can subscribe here. New to Gusto? Try a free demo today.

Data download: Hybrid hires grow

Hiring trend alert: Gusto’s 2023 survey of new businesses found that hybrid and remote workers are becoming even more common. Our survey focused on four sectors: personal services, professional services, community services, and goods-producing/logistics. Across every sector, the number of full-time employees hired in hybrid or remote roles in 2022 went up. 

In the professional services industry, the percentage of fully remote hires went up seven points, from 36% in 2021 to 43% in 2022. In community services, 35% of employees were hired in hybrid roles in 2022, up from 27% in 2021.

See more data insights—including the percentage of in-person hires within each sector—in the full article

HSA limits to rise in 2024

There are significant benefits of offering health savings accounts (HSAs) to your employees, including increased employee satisfaction and employer tax advantages. Plus, if you offer HSAs, your employees may be getting a nice savings boost in 2024. 

The IRS announced last week that there will be higher limits on HSAs and high-deductible health plans (HDHPs) starting January 1, 2024. Here’s what to expect:

  • The annual limit on HSA contributions for self-only coverage will be $4,150, a 7.8% increase from the $3,850 limit in 2023. 
  • The HSA contribution limit for family coverage will rise to $8,300, up 7.1% from $7,750 in 2023.
  • An HDHP must have a deductible of at least $1,600 for self-only coverage (up from $1,500 in 2023) or $3,200 for family coverage (up from $3,000). 
  • The maximum amount employers can contribute to an excepted benefit health reimbursement arrangement (HRA) in 2024 is $2,100, up from $1,950 in 2023.

Learn more about the 2024 limits—and the reasons behind them—with SHRM’s full article

7 steps to greater sustainability 

As climate change worsens and consumers continue to prioritize eco-friendly brands, it’s crucial that businesses of all sizes make an effort to become more sustainable. But where do you start? The task feels so daunting, it’s hard to know where to begin—and how to actually create meaningful change. 

In one of our latest articles, experts at Project Drawdown break down seven steps you can take to make your business more environmentally friendly—from rethinking your financing to switching up your suppliers. Read the full article here.

What is values-driven leadership and how can it improve your business? 

Many businesses prioritize profit above all else—including the well-being of their employees. But experts know the real model of success involves aligning business and employee interests. Enter: values-driven leadership, which means creating a positive workplace where employees feel supported and cared for both professionally and personally. Read our full article to discover the three key reasons why values-driven leadership benefits business—and how to put it in action. 

Read with Gusto

Hey Talk Shop readers, Caleb here. I’ve been using AI in my work for a while now, which consists mainly of writing things. I long had a terrible tendency to omit articles and other small words in my writing. But thanks to Grammarly, which uses machine learning and natural language processing, most of those mistakes have been eliminated. It’s not perfect, of course, but I rely heavily on it to do something I can’t do—be an objective copy editor—and my work has gotten better for it. 

The chances that AI might kill us all feel pretty far-fetched, but the optimists—like LinkedIn co-founder Reid Hoffman—deserve plenty of scrutiny too. Social media has been a mixed bag; it stands to reason that AI will be too. But at least there will be fewer grammatical errors in the world.

Fresh from Gusto (and friends)

Our partners at Breezy HR analyzed over 7 million job applications from over a dozen recruitment sources to bring you the most comprehensive and up-to-date data available on the top source of hire. Check out Breezy’s Source of Hire (SOH) report for access to a treasure trove of information on the best sources of hire available right now, as well as guidance and key insights on how to use the data. Download the report here.

Watchlist

JUN 22: This Two-Time Entrepreneur’s 7 Keys to Growing Your Business Fast and Smart

One of the best resources as a business owner is the wisdom of other business owners—the people who’ve been there and done that. This webinar, presented by Oracle Netsuite and Entrepreneur, features valuable advice and lessons from Jackie Hermes, founder and CEO of Accelity, a B2B marketing agency. You’ll learn the secret to attracting and retaining top talent, discover tools to future-proof your business, and pick up strategies for managing your finances. Register here.

Want more news and resources? Check out past editions in our archive.

Mohini Kundu Mohini Kundu is a news editor on the Gusto content team. She studied journalism at Northwestern University and started her career at The Huffington Post before embracing the #startuplife.
Back to top