Before You Hire a Temporary Employee
Seasonal and temporary workers have always been common in industries such as manufacturing, construction, landscaping and retail. However, since the recession, more employers—including those who traditionally employed permanent professionals—have turned to temps and contract workers to satisfy their staffing needs. In fact, by 2020, more than 40% of the US workforce will be free-lancing, according to a recent study conducted by software company Intuit. That’s more than 60 million people. Temporary and seasonal workers are certainly cost effective. Hiring temps is often cheaper than hiring...
Read MoreWhat’s the Best Social Media Platform for Your Business?
Facebook, Instagram, Pinterest, Twitter—you may already use these social media websites in your personal life to connect with friends, share photos with family, and follow the exploits of celebrities and politicians. But are you using them in your business? If not, you may be missing out. According to a Nielsen survey, 46 percent of online consumers use social media when making purchase decisions. And a DigitalSherpa survey found that 63 percent of consumers prefer businesses with information that can be easily accessed on social media. While you should create a business profile on every...
Read MoreSmall Business Insurance Misconceptions
Do you believe everything you hear about insurance when talking to fellow business owners? If so, you’ve probably been privy to—and maybe even regard as true—a few small business insurance misconceptions. Consider the following common mistaken beliefs to avoid. Insurance companies never pay on claims. While a common belief—everyone’s friend of a friend allegedly knows someone whose insurance company failed to pay up—it’s patently untrue. Your small business insurance policy is a contract. If that contract specifies certain types of damages caused by certain types of situations are covered,...
Read MoreYour Business Insurance Policy Isn’t Flood Insurance
Many small business owners are under the mistaken impression that their business insurance policies will cover them for damages arising from floods. This is not correct. Just like residential flood insurance, commercial flood coverage must be purchased separately, in a dedicated policy. The consequences of getting hit by a flood without owning commercial flood insurance are frequently devastating: 40 percent of small businesses hit by a flood never reopen their doors. The results are financially catastrophic to owners and sometimes to employees as well, who find themselves unemployed just as...
Read MoreMaximize Your Employee Retention — Know Your Top Performers
As the economy improves and labor markets begin to pick up the pace of hiring, workers around the world are beginning to seek out new job opportunities. According to research conducted by HayGroup, a global management-consulting firm, worldwide employee turnover will reach 23.4 percent by 2018. The firm predicts more than 161 million employees are already preparing to leave their employers. As any business owner knows, replacing employees comes with significant costs. In fact, a meta-analysis of studies conducted by the Center for American Progress found the median cost of turnover is equal...
Read MoreData Breach Insurance — What You Need to Know
At one time or another you have likely received an email informing you that you will need to change your password for one of the websites you visit. The trigger for these advisories is often a data breach, a nightmare scenario in which a hacker gains access to consumer data, which could include personal information such as credit card numbers, social security numbers and addresses. Consumers are understandably upset when this occurs, and are often victimized once the hackers sell the information they have gathered to individuals who can run up their credit cards or otherwise wreak financial...
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