B2B Payments

GoCo Adds COVID-19 Paid Leave Feature To Payroll Tool

GoCo Adds COVID-19 Paid Leave Feature

To help businesses contend with new procedures and regulations related to the Families First Coronavirus Response Act (FFCRA), GoCo has rolled out a new feature to manage and track COVID-19 paid leave. The creation of the feature stemmed from the law, which took effect on April 1, according to an announcement.

GoCo CEO and Founder Nir Leibovich said in an announcement, “As soon as the Families First Coronavirus Response Act was announced, we heard from HR professionals that the new rules were confusing and difficult to track and manage.”

He continued, “With our new COVID-19 Paid Leave feature, we’re hoping to alleviate some of that burden for small businesses, and make it really easy for their employees to request time off if they need it while keeping the employers in compliance.”

The built-in leave standards for emergency FMLA and emergency paid sick leave ensure that companies are monitoring leave requests that meet FFCRA standards and will be ready to receive refunds through a government tax credit.

GoCo’s COVID-19 Paid Leave feature determines the appropriate amount of leave time for every policy, requests that the worker offer the appropriate paperwork and lets the employee choose from the reasons approved by the government for the request.

The company has also made it more efficient for employers to monitor leave and create reports that can help run payroll and receive qualified tax credits, according to the release. GoCo is also offering educational materials to assist HR professionals in making sense of the new standards.

GoCo, which is headquartered in Texas and was started in 2015, aims to “help small businesses spend less time on manual HR tasks, so they can focus on growing happier, more productive teams,” per the announcement.

In separate news, companies are taking steps to address the coronavirus crisis. Darden Restaurants, Inc., in one case, has created a cross-functional crisis team as part of its continued response.

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