Tag Archives: HIRE ACT

Hiring Incentives for Companies – The Federal HIRE Act

Since our economic stability has been a bit shaky, many companies have been decreasing the amount of IT jobs available.  Due to that fact, our unemployment has been increasing over time.  In order to counteract unemployment rates, President Barack Obama instituted the Federal HIRE Act.  It essentially outlines that for every hire that is made by a company, you will get a tax exemption and some other tax credits as long as 2 conditions are met.  First, they are not replacing another employee.  Second, they were not working full-time in the time period before the hire/unemployed.

So what does this mean for IT staffing agencies? As the economy continues to turn, IT recruiters should begin seeing their clients take advantage of these tax credits.  The best part about the Federal HIRE Act is that there is no limit to the amount of employees that companies can get exemptions for.  So to all those companies overloading their workers with tasks that can be done by multiple employees, start hiring the IT resources that you have been lacking during this economic slump!