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Optimizing Your WOTC Screening Process — Fifth Principle: Reporting

This series of blog posts has covered key principles that, when holistically covered, can help maximize the value of a company’s Work Opportunity Tax Credit (WOTC) program. We’ve already covered screening compliance, eligibility, forms compliance and certifications. Today’s post is the fifth and final principle: reporting.

Timely, accurate and comprehensive reporting can help provide a company with a more transparent view of their WOTC program’s performance.  For performance metrics, an experienced vendor can provide clients with reports detailing screening compliance, forms compliance, eligibility percentage, certification percentage, and average dollar People in conference roomvalue of certifications.

In addition, companies should expect their vendor to provide them with more than just after-the-fact reporting.  Using dashboards and alerts, a vendor can provide companies with actionable data. For example, an hours-worked report can provide managers with visibility to eligible employees who are close to meeting hours-worked thresholds, which can allow them to make more informed decisions. This could help optimize the credit amount a company will receive. Other useful dashboard and ad hoc reports can provide a company with useful information to help manage their business, including credit amount forecasting, lost opportunity projections, and more.

Having a better understanding of the screening process may help businesses earn more credits and take advantage of WOTC – now and in the future. We hope this series has been helpful to you, and invite you to contact us to learn how your company can help optimize its WOTC program.



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