We took notes at “The Power of WOTC,” so you don’t have to
Arvo’s Director of Sales and Marketing Emily Osborne presented a free webinar alongside Aqore Staffing Software’s Chief Revenue Officer Steve Zipparro on May 30, 2024.
An in-depth exploration of the Work Opportunity Tax Credit (WOTC) program, her presentation answered questions including:
- What is the WOTC?
- How do you claim the WOTC?
- How can you make WOTC more profitable?
- and more
Below, we’ve summarized five key takeaways from the presentation.
1. WOTC is a win-win-win
The WOTC has been around since 1996. It is a rare piece of federal legislation because it enjoys bipartisan support. This is due to the fact that WOTC is seen as a win-win-win by lawmakers. The three WOTC winners are:
- Employers: WOTC rewards organizations who hire and retain disadvantaged job-seekers with generous credits against their tax liability
- Job seekers: WOTC creates career pathways for historically disadvantaged job seekers from nine targeted groups
- Government agencies: When WOTC-eligible employees join the workforce, the government saves money on various assistance programs
2. WOTC doesn’t need to be hard
Although some may believe that WOTC-eligible employees are difficult to find, the truth is that over 20% of Americans qualify for WOTC, and our clients generally discover that the nine targeted groups are more expansive than they realize.
Likewise, some may believe that the requirements for claiming WOTC are simply too difficult to learn and/or comply with. In fact, claiming the WOTC is now simpler than ever, especially for Aqore software users (and users of Arvo’s other integration partners).
When Aqore users use Arvo to claim WOTC, they benefit from customized solutions for each step of the process, including seamlessly-integrated tech, personalized support, and continuous monitoring for maximum WOTC optimization.
Arvo handles the know-how, paperwork, communication, and problem-solving necessary for getting the most out of WOTC.
That’s what we mean when we say we “make WOTC simple.”
3. WOTC employees supercharge profitability
Research shows that WOTC-eligible employees perform as well or better than, and stay in their job as long or longer than, their non-WOTC peers.
In addition, Arvo has found that WOTC employees generate 4-5x more income than their non-WOTC peers. The chart below demonstrates how WOTC directly grows your bottom line, leading to supercharged profitability.
Estimate how much you could earn with WOTC using our WOTC calculator.
4. You can get more from WOTC
Whether you participate in WOTC on your own, or with another provider, Arvo can double or triple your WOTC credit. We do this by ensuring our clients achieve these five performance metrics:
- >95% WOTC screening rate
- >20% eligibility rate
- >55% certification rate
- > 65% of WOTC workforce generating credit
- Average credit for WOTC employees of >$2k
If you are curious whether your current WOTC program could be improved, contact Arvo today for a complimentary audit.
5. You can start now
Following the presentation of “The Power of WOTC,” we asked attendees whether or not they believed WOTC would make a positive impact on their business. 92% said yes; 8% said possibly; 0% said no.
Whatever your previous experience with tax credits, Arvo has superior tools and solutions to help you get started with, or get the most from, the WOTC. And since Arvo’s fees are 100% contingent, there is nothing to lose by contacting us to get started today.