Hiring and Managing Employees with WesBanco’s Services

As your business starts to grow, the need for employees is always top of mind. It’s a signifier of growth and expansion, but also comes with building and managing a new budget that includes a host of hiring costs. Think salary, benefits, perks and year-end bonuses. Because at the end of the workday, you’re not just managing a new budget and new employees, you’re building a culture to attract more top talent as you continue to climb.

Hiring employees is a first milestone for many companies, and WesBanco has a suite of business services that can scale with you.

Paying Your Employees

WesBanco provides treasury management services including solutions for accounts payable that make paying employees seamless. Whether large or small, your business’s cash management should be simple, secure and efficient and we take on this daily management while giving you maximum control over transactions.

ACH credit origination reduces errors, fraud risk and decreases payment-processing time and cost. It also allows your business to initiate direct deposit of employee paychecks, consumer payments and business-to-business payments electronically. Some other benefits of our treasury management services include:

• Increasing internal efficiencies with check preparation, processing and reconciling
• Control cash flow with improved forecasting, eliminating collection float and reducing delinquencies
• Reduce costs by using less postage and check orders
• Minimize the chance of lost or stolen checks and reduce your risk of fraud with enhanced security controls

Business Retirement Planning

One way to attract and retain top talent is by investing in their future with business retirement planning. The Retirement Benefits Team at WesBanco offers businesses employer-sponsored retirement plan options. Our cost-effective savings plans allow small or mid-sized businesses to customize a plan that fits your budget. WesBanco’s business retirement plans include:

• Pension plans
• SEP IRAs
• Profit Sharing Plans
• Individual retirement accounts

Business Line of Credit for Hiring Needs

If your business is entering a season of rapid growth and hiring employees needs to happen quickly, consider opening a business line of credit. A line of credit grants access to short-term funding so you can draw the cash you need when you need it. Like for seasonal employee salaries, a hiring bonus or just the capital you need to bring a new employee on board due to growth. You can also draw on a line of credit to hire a recruiter or offer paid internships or apprenticeships.

Our small business FlexLine of credit is available at competitive rates with an interest-only draw period. The 36-month draw period makes it ideal for investing in your company and increasing cash flow, especially when you need to make urgent hire.

WesBanco is proud supporter of businesses and making the hustle a little less hard when it comes to hiring and paying employees. Explore our suite of treasury management services, business retirement planning and lending solutions.

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Content is for informational purposes only and is not intended to provide legal or financial advice. The views and opinions expressed do not necessarily represent the views and opinions of WesBanco.
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