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Minnsights Blog

  • What is business succession and transition planning?

    Nov 15, 2023
    Business succession and transition mark key points in a business’ life and the owner’s life. While representing a new era, business succession and transition (BST) requires significant effort and change from everyone involved. BST planning can help ensure long-term, sustainable success and a smooth exit for the owner.  
  • 2023 session outcomes: Earned sick and safe time

    Nov 2, 2023
    Employers are also mandated to provide one hour of fully paid sick time for every 30 hours worked, up to 48 hours a year with a carry over up to 80 hours, including temporary and part-time employees. Employees must be paid at the same rate they would earn if they were working. Employees may take this time off to care for a broad-based definition of “family members.” The Department of Labor and Industry (DLI) oversees compliance and penalties and can be used in tandem - “stacked” - with Paid Family Medical Leave. This will take effect January 1, 2024.
  • 2023 session outcomes: Paid Family and Medical Leave (PFML)

    Nov 2, 2023
    This year, the Legislature passed the most sweeping paid leave mandates on business in state history. Despite more than 80% of Minnesota members offering leave to their employees, the state now mandates all employers to grant employees sick, safe and paid time off equaling nearly 40% of a work year.