[Norwalk, CT: March 17, 2010] With such indicators as a rising GDP and increasing demand for temporary workers in a variety of industries, several economic models forecast a revival in the U.S. job market from mid-2010 through 2012. In advance of this much-anticipated recovery, ERC Dataplus, the company behind the most comprehensive and scaleable applicant tracking system available to U.S. businesses, and TaxBreak, a leading authority on state and federal government tax incentives, have joined in a strategic business partnership that will support employers interested in maximizing the ROI of their new hiring.
Under the partnership, ERC has integrated its Selectech® applicant tracking technology with TaxBreak’s system for fully exploiting employer tax credits designed to offset labor costs. These federal and state-sponsored “Work Opportunity Tax Credits,” or WOTC programs, as well as empowerment or disaster zones credits, provide monetary incentives for employers to rebuild their depleted ranks by creating opportunities for low-income and disadvantaged groups within the labor pool. As a result of these combined systems, employers will now be able to evaluate candidates on both their job relevance and the incentive tax credits that can be generated should they be brought on board.
“We are pleased to be working with ERC to incorporate the capabilities of the Selectech hiring management system with our unique tax credit screening process” says Shannon Scott, president and CEO of TaxBreak. “The level of our integration sets this partnership apart. The combined impact of our best-of-breed technologies will provide compelling data for hiring decision makers.”
“Our joint programming efforts have set a new standard, creating the optimal base for human resources administrators to not only choose the best candidates for a position, but do so knowing that they will generate considerable credits to reduce their company’s federal and state tax liability,” adds Peter Clarke, president and CIO of ERC Dataplus. “In this recovering economic environment, that’s a real advantage.”
The advantage can be felt by both employer and candidate. According to a January 2010 study from Northeastern University’s Center for Labor Market Studies, the recent unemployment problem is largely a problem for low-wage workers. While higher-income households have averaged 3.2% unemployment since 2008, the unemployment rate of the lowest income group (with annual household incomes of $12,499 or less) was 30.8%. According to the study, approximately 50% of households in the bottom decile of American income distribution are underemployed; in the second lowest decile, 37% of households can’t find enough work.
These are the groups Empowerment Zone, WOTC and similar programs are crafted to re-employ. Administered through state-level Departments of Labor (not the Federal Internal Revenue Service or state tax departments), the programs have had a significant re-employment impact on areas affected by disasters, such as those affected by Hurricane Katrina, and have been proven incentives for the rehiring of returning military veterans.
About ERC Dataplus:
Headquartered in Norwalk, CT, ERC Dataplus is a business solutions company that focuses on the needs of human resources professionals. Across its integrated software functions, ERC enables HR clients to streamline hiring and improve employee retention, regardless of the size of the organization. Because its Selectech® systems are modular and scaleable, HR organizations with a few hundred or several thousand employees can lower the costs stemming from recruiting, assessment, and government compliance—while improving efficiency of processing. The result is a comprehensive recruiting and applicant tracking system that can expand an applicant pool, speed the hiring cycle, track applicants, improve EEOC compliance and reduce costs. For more information, visit www.ercdataplus.com.
TaxBreak was founded in 1998 and is made up of an acclaimed team of tax attorneys, technology and financial executives committed to delivering tax credit consulting and processing to companies of all sizes. The Gadsden, Alabama-based organization boasts proprietary software that enables them to accurately determine the tax credit eligibility of company employees, including those who qualify for work opportunity tax credits, disaster relief credits and geographic based credits, among others. For more information, visit TaxBreak online at www.taxbreakllc.com.
For more information, contact:
Kathleen M. Joyce
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This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.