Circa is pleased to announce our formal partnership with Los Angeles-based Trusaic, a HR and compliance technology company that focuses on minimizing risks, increasing compliance, and achieving authentic change to help organizations build better workplaces. What some employers are not aware of is that they can get rewarded for doing the right thing. Employers can improve their bottom line with tax credits by hiring and retaining employees. Circa, in partnership with Trusaic, will help employers identify opportunities to receive tax credits through the Work Opportunity Tax Credit (WOTC) and Employee Retention Credit (ERC).
The purpose of this Circa partnership is to help companies hire individuals from target groups who historically have faced hardships in finding employment. Companies that invest in hiring and retaining a diverse workforce often see significant growth. But beyond the numbers lies a much greater benefit. When you recognize and value the contribution of people with different backgrounds, experiences, capabilities, and perspectives, you attract top talent and innovation soars.
According to McKinsey & Company
- 35% of racially diverse companies are more likely to have greater revenues
- 15% of gender diverse companies are more likely to have better financial returns
- 80% of inclusive teams outperform their peers
And Harvard Business Review research indicates 70% of diverse companies are more likely to capture new markets
The Work Opportunity Tax Credit is a federal tax credit available to employers who hire individuals from target groups who have consistently faced significant barriers to employment. Any business can earn tax credits if the hired individual fits one of the program’s target groups, such as veterans, disabled persons, and persons who have received government assistance.
The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer paid to employees after March 12, 2020, and before January 1, 2021 and equal to 70% of the qualified wages in 2021. It originated under the CARES Act on March 27, 2020 in response to the COVID-19 pandemic. Employers can earn up to $26,000 in ERC per employee.
With Trusaic, Circa continues expanding its product and service offering through partnerships as customers are seeking a more robust solution from industry leaders. Circa provides OFCCP compliance management and diversity recruiting technology solutions to deliver qualified candidates on an equitable playing field for organizations to build high-performing, diverse teams.
“The partnership between Circa and Trusaic symbolizes our profound commitment to building diverse, high-performing teams and accelerating their success,” Patrick Sheahan, CEO, Circa said. “Working together to enhance our OFCCP and Diversity Outreach solutions helps our customers not only achieve compliance and build diverse teams but also achieve financial success.”
“Our partnership with Circa reflects our shared commitment to helping organizations hire the employees they need and support underserved communities,” said Robert Sheen, CEO, Trusaic. “Trusaic’s seamless solution ensures full compliance and easy tax credit certification without additional administrative burden, allowing companies to make a significant difference in the lives of the individuals they hire, as well as on their bottom line in the process.”
To drive mutual success, Circa will showcase Trusaic’s Work Opportunity Tax Credit and Employee Retention Credit solutions to customers and prospects, feature them in marketing events and on the company’s website, as well as work together on thought leadership content.
Circa is a catalyst for 21st century companies to build high-performing diverse teams based on research that shows companies want to shift from diversity as a program to diversity as a business strategy. The companies’ robust portfolio of software solutions and unparalleled industry expertise give employers the tools and knowledge they need to radically change how they approach talent acquisition and management. The company was founded in 1994, has 5000+ customers, 15,500 community partner relationships and in 2019 posted 5M+ jobs through its network of 600+ online employment websites. Circaworks.com
Trusaic is a leading HR and compliance technology company that focuses on advancing social good in the workplace and solving HR’s most complex challenges across people, data, and analytics. Our mission is to create a better working world. We do that by helping organizations achieve pay equity, foster a more diverse and inclusive workforce, assist economically disadvantaged individuals with finding work, and ensure employee access to affordable healthcare. Trusaic.com