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A business leader can’t eliminate all risks, but insurance can provide some cover should the sky begin to fall. Despite this, insurance is an area where owners often try to skimp on the type of insurance they pay for or the amount of coverage they choose. Property insurance . Workers’ compensation. Professional liability.
If you’re looking for ways to save on workers’ compensation insurance, you’re well aware of the direct costs that you pay in premiums. But what you may not have considered is the indirect costs of on-the-job accidents and injuries, which go beyond what you pay for workers’ compensation insurance.
It’s critical to consult with HR experts to handle these situations in an optimal way. That’s why many business owners and leaders opt to consult with experienced HR personnel, a professional employer organization (PEO) or legal resources to help minimize risks and potential liability. Religious beliefs. Incentivizing vaccines.
They consult with client companies on a regular, ongoing and proactive basis. An example of this is a client company discovering that they’ve been continuing to pay for medical insurance for a terminated employee. You have many options for outsourcing your company’s human resources (HR) function.
You’re probably well-aware of the direct costs you pay in workers’ compensation insurance premiums, but you may not have considered the indirect costs of on-the-job accidents and injuries. Consider using: A third-party consultant – Independent workplace safety consultants typically charge about $100/hour.
As a freelancer or independent contractor, you may think your business is too small to need insurance. Client contracts sometimes even require you to have freelance business insurance. The bottom line: More than half of those surveyed said their biggest barrier to getting coverage was understanding what insurance their business needed.
Before you start to pack any boxes, obviously, it’s wise to consult legal counsel. When weighing where to move, it’s worth considering, for example, the workers’ compensation insurance requirement or the required timeline for filing for unemployment claims as these may impact your administrative timelines.
Learn to spot and prevent phishing. If there is no IT department, consider hiring an IT security firm or consultant to assess the company’s computer network and address security weaknesses to prevent a future data breach. Contact your company’s insurance provider, if you have cyber liability Insurance.
If you’re looking for ways to save on workers’ compensation insurance, you’re well aware of the direct costs that you pay in premiums. But what you may not have considered are the indirect costs of on-the-job accidents and injuries, which go beyond what you pay for workers’ compensation insurance.
A request for time off may be the first time you learn that your employee is struggling with a mental illness. The leave is usually unpaid, although certain states may cover time away with partial disability plans or additional private insurance compensation. Has the employee been diagnosed?
A fair severance agreement should include at least two weeks salary, and may also include: Additional money based on years of service A reimbursement to help offset the cost of health insurance coverage continuation or COBRA stipend Outplacement counseling and/or training. Past, present and future.
Consult an immigration attorney. Comply with insurance requirements. Insurance obligations are the responsibility of the employee, but companies may assist in the process or offer company insurance. Learn more by downloading our free e-book Employment Law: Are You Putting Your Business at Risk ?
Health insurance Health insurance aims to assist employees with the costs of obtaining medical care. Optional dental and vision care are usually offered alongside health insurance for an added fee.) To confirm your company’s legal obligations for these types of insurance, check the laws in your particular state.
Learning from one another can transform multigenerational workplaces into rich environments of shared wisdom and innovation. If you want to communicate with them effectively, you need to learn their language, Morgan advises. To keep Gen Zers stimulated, constantly challenge them to learn on the job with new responsibilities.
Finding a gap in the sales staff market What Arocho learned was that entrepreneurs may have certain strengths as innovators, but many of them could use help when it comes to developing effective sales staff. He sold his stake in that business to start his consulting group.) It taught you what their work ethic was like.
These illnesses and injuries cost employers in absenteeism, lost productivity and, quite often, higher insurance premiums. A consultant with this sort of expertise can help your company find affordable ways to improve your workplace ergonomics and possibly even provide training or a lunch-and-learn on the topic.
A 2021 Gallup poll found that 1 in 6 Americans stay in jobs they don’t find fulfilling just to keep their health insurance. I’m here to tell you that if you are wanting to take the plunge into entrepreneurship, the health insurance options for those of us who are self-employed are not as bad as you might think.
Companies require a Wellness Consultant who is a major role player to follow and create a proper wellness plan. As a result, there is a greater need for corporate wellness consultants, and many people are trying to enter this fascinating and lucrative industry. Each of these advantages is connected to the bundle of employee benefits.
The top employee benefits brokers offer insurance wellness programs, as savvy benefit brokers know that robust wellness solutions improve employee wellbeing, productivity, and morale while reducing overall healthcare costs. Working directly with the broker allows for a consultative approach.
For small- and medium-size businesses, worker’s compensation insurance costs can be exorbitant. By analyzing both the hard and soft HR metrics, the PEO can provide your company with a more accurate depiction of the potential acquisition, a service many outside consultants simply don’t have the technical knowledge to provide.
You also need to track voluntary deductions like health insurance and 401(k) contributions, prepare and file quarterly reports, and process w-2s at the end of the year. Making payroll mistakes is easy, especially if you don’t have much time to devote to learning how to stay in compliance. And those payroll mistakes can be costly.
MHFA offers short programs for people, including employees, to learn and implement mental health assistance skills. with a broken mental health system where you can’t get appointments for counselors without waiting several months, [and] many don’t accept insurance, which sets up… inequitable systems of access to care….
For example, it could be an update that more benefits have been added to the health insurance plan, or that sales teams are now required to conduct key performance indicators (KPI) reporting monthly instead of quarterly. To do so, weve created a learning and development fund (LDF)! Why is it important to send process emails?
HR outsourcing companies and HR consultants typically stay up to date on all of the employment and labor laws and alert employers when there’s a legal change that they need to be aware of. HR outsourcing companies and consultants can recommend and implement process changes to help streamline your business’ HR processes.
Our nation’s first major tax reform in more than 30 years has spurred many business owners to spend hours with their CPAs and tax consultants over the past few months. A PEO can help you provide your employees with access to competitive benefits that include medical, dental and vision insurance, 401(k) retirement plans and much more.
But, as a single mom with two teenage children, a growing health insurance bill, and looming college tuition, the pressures of freelancing’s ebb-and-flow income patterns were stressful. Be patient as they adjust and celebrate their freelance learnings and experience,” she says. James, on a whim, decided to apply for a full-time job.
It means you can choose when and where you go, when to take a break or when to follow an adventure without consulting anyone else. Keep reading for our best solo travel tips, whether you’re learning how to travel solo for the first time or you’re a seasoned traveler. Schedule regular check-ins with a friend or family member.
.” Wang researched behavioral solutions and then learned about ADHD coaching. This form of treatment sounded like a great fit for her, but there was a problem—the high cost and it’s not covered by health insurance. To do this, she needed to evaluate ways to reduce the costs of ADHD coaching.
There is much talk today about the need to constantly align and adapt strategy to constantly changing market conditions to insure sustainable competitiveness. So how can management insure that the organization’s culture is properly aligned with strategy? The following is a guest post by Dr. George H. Labovitz and Victor Rosansky.
Here, we offer tips for creating your resolutions, learning how to keep them and even some New Year’s resolution ideas to get you started. Learn a new skill. Learn about investing. Review your insurance plans. Regularly review and update insurance policies to ensure adequate coverage at the best price.
What should you do when you learn of an employee’s potential substance abuse issues? Your role as an HR professional starts when you first learn of an employee’s substance abuse concern, or of an employee’s impairment in the workplace. Review your company’s health insurance to offer available benefits for the employee.
One advantage of BetterHelp is that because the service does not bill insurance, there is no need for clinicians to provide a diagnosis and target therapy to fit the “medical necessity” requirements imposed by third-party payers. Like all three therapists I ultimately consulted, she held a master’s degree in social work.
A rise in the number of independent contractors, such as temporary workers and consultants, makes knowing the difference even more important. Consulting IRS Publication 15 in this case and many others can help you remain within government compliance. Learn how Insperity® can help you dodge costly payroll pitfalls.
Pamela Slim is an author, community builder, consultant and former corporate director of training and development at Barclays Global Investors. Since 2005, Pam has advised thousands of entrepreneurs as well as companies serving the small business market such as Infusionsoft, Progressive Insurance and Prezi. “ – Pamela Slim.
Dr. Shashi Karunanethy, consulting economist for Deputy, says the primary reason workers take on multiple jobs is to make ends meet—especially younger women and those with “family responsibilities,” he says. In fact, having a portfolio of consulting work, or a quirky side hustle, is now often celebrated by employers.
By Stephen Fishman Publisher: Nolo This new edition, updated to reflect recent changes to the law, now includes some best practices for how to run your business and handle legal issues relating to insurance, employees and more. The P.A.I.D. And that’s what CPA Melissa Houston aims to do in this no-nonsense guide for entrepreneurs.
Increasingly, business consultants, scholars, and executives are coming to the conclusion that culture is the prime driver of organizational performance. To learn more about the Top Picks in business reading from strategy+business, check out their article “ Best Business Books 2014 ”. The following is a guest piece by James O’Toole.
For example, if you send an invoice to insurance, you can start the process of verifying insurance coverage via the pre-registration information. Learn more about the Receptionist for iPad’s pre-registration feature and more here. Use the Information You Already Have If you already know the basics, don’t ask. Just verify.
Learning and development For Gen Zers, their primary motivation lies in bettering themselves. To keep Gen Zers stimulated, constantly challenge them to learn on the job with new responsibilities. Millennials crave recognition for their work too, but they would prefer their employer show it through promotions, pay increases, and perks.
There wasn’t a rule book, so I made it up as I went, networked with freelancers to learn how they did it, and consistently put myself out there so customers could find me. Disclosure: I teach marketing and career development courses on LinkedIn Learning.) Sometimes it was stressful, but mainly fulfilling. Remember, clear is kind.
Consider a self-employed entrepreneur who racked up thousands of dollars in medical bills after a visit to the emergency department due to lack of employer-sponsored health insurance. This includes freelance writers, designers, consultants, e-commerce entrepreneurs, influencers, virtual assistants, and photographers. There are 28.5
She had no plan B, a ton of grad school debt to pay off, and still needed to remain on their health insurance. It is an experience fraught with raw emotion, a drastic identity shift, health insurance considerations, and more. She panicked. Her entire identity was tied to that role. I loved the cause and the team so much.
Obtain cybersecurity insurance to mitigate the effects of a cyberattack on your company. If you don’t have in-house IT resources continually managing this for you, you should strongly consider hiring an IT consultant to help optimize your cybersecurity efforts and promptly resolve attacks when they happen.
Employees in the workplace seek an ideal working environment that promotes learning and development, work-life balance, positive company culture , and overall good experience. Health Insurance Health benefits are offered by 58% of companies, making them the most common perk. What Do Employees Want? Frequently Asked Questions 1.
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