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Employee motivation plays a large role when it comes to the productivity and success of a small business. Employees who are enthusiastic about coming to work every day are naturally going to produce more than those who are indifferent.
In fact, a disengaged workforce can harm a company in many ways. There are several things you, as a manager or business owner, can do to foster a positive and energetic environment.
Let’s look at some of the best ways to keep your employees motivated.
Employees tend to feel better about work when they know that someone is available to listen to their concerns. Simply being visible as much as possible—as opposed to being locked in your office—goes a long way toward cultivating this feeling.
Beyond this, make it a point to talk to employees and ask them how they feel about the latest policies around the office. Employees, of course, must believe that you want their honest opinion and aren’t simply looking for rote praise or an affirmation of your brilliance.
People are individuals and motivated by different approaches. Some people love the limelight while others prefer to maintain a low-key presence. Some respond best to a blunt and direct approach while others are more sensitive and are more likely to give their best effort if you talk to them in a nuanced manner.
Take the time to observe each employee’s personality and keep this in mind when assigning tasks and giving feedback.
Today’s workplace is becoming increasingly flexible, as workers telecommute, choose their own vacation time, and in some cases, even choose their own hours. The degree of flexibility you allow is partly determined by your industry and the kind of business you run.
However, giving employees more freedom helps to motivate them. Modern technology makes it possible to run an efficient workplace without adhering to a rigid schedule. Flexibility lets employees balance work with their other responsibilities and interests.
Employees will feel more motivated in an atmosphere that encourages learning, growth, and constant improvement. Cross-training is a strategy that has benefits to the business as well as workers. You end up with a staff with multiple competencies. This stimulates employees and provides you with a workforce with a wide range of skills.
If you want to take this principle to the next level, send employees to seminars and training programs or, if possible, pay for them to obtain advanced degrees.
A business’s productivity and profits are obviously a priority. At the same time, you need a healthy balance between work and fun. Motivation will suffer if people feel the constant pressure to perform or if they feel as if they’re being micromanaged.
You can make work more fun by planning lunches, parties, and employee outings. Such activities are valuable in a number of ways. They give people a chance to relax while fostering bonding and teamwork.
It’s important to consistently provide feedback to let employees know how they’re doing. If you want to motivate people, make sure you do this in a way that’s helpful, constructive, and truly informative.
It’s best to provide feedback in a timely way rather than waiting for formal employee reviews. Be sure to mention what people are doing well in addition to areas where they need to improve. When providing feedback, make sure it’s a two-way conversation.
For example, you might ask the employee for ideas on how he or she might improve in a certain area. This makes employees feel engaged rather than simply being told to do better.
Employees who have access to good health insurance, life insurance, a 401K, vacation time, and other attractive benefits are likely to feel motivated. A solid benefits package gives employees a sense of security and is a factor that contributes to motivation and feelings of loyalty to the business.
Considering offering group health insurance, but not sure where to start? We created an ebook that will teach you the ins and outs of offering health benefits. The best part? It’s free!
The right time to decide what you’ll do about a data disaster is before it happens. Once it occurs, if you don’t have a data recovery plan in place, it’s too late. Your business will most likely fail.
If you’ve prepared for trouble, though, your organization has a good chance of survival.
Fires, natural disasters, and crime can wreak serious damage on a business’s computers, including its on-site backups. Insurance may cover the hardware, but no amount of money can replace data that’s permanently lost. Without critical customer and employee records, there might be no way to continue.
A disaster recovery plan will cover everything necessary to surviving a data catastrophe. It will let you determine what you’ll have to recover, how to do it, and who will do it.
The first step is to identify all your critical data assets. What systems do you have that carry out essential processes and hold necessary data? Be sure to include any machines that might sit half-forgotten, yet play an essential role.
Do you have any systems that are so old, they’ll be hard to replace? If you’re stuck with an ancient system that you can’t easily replace, be sure to export its data regularly to a more usable archive format. That way, other software will be able to pick it up, even if it takes some work.
Having backups is important, but if a disaster ruins your entire network, a local backup isn’t enough. The backup drive is likely to suffer as much damage as the original. You need to keep a copy of all your essential data in a remote location. Cloud backup is a safe and economical way to do this.
Choose a reliable service that will still be around when you need it. A well-established, reputable cloud service with redundant locations gives you the highest level of safety.
The backup process and storage both need to be secure. You’re sending all your files over the Internet, and it’s important—often legally required—to make sure no one can intercept and read them. The backup has to transfer and store all data in a strongly encrypted form.
Recovery in case of a disaster is more complicated than normal restoration from a backup. You might not have the original machine. Your recovery plan needs to include the information necessary to rebuild your systems, not just the data files on them.
This information includes full descriptions of the computers, their operating systems, the network configuration, and the software. You should have all the information necessary to acquire replacement hardware, configure the machines to match the originals, and install the necessary software.
You need to be sure all the information necessary to restore your data will be available in spite of a disaster. The passwords or keys required to start the restoration process need to survive whatever happens. If the only copy of a critical key is in the office, it might burn up along with the computers. Keep this information in a safely locked box off the premises.
Preparation is the key. The recovery plan should specify who is responsible, how to reach them, and who can back them up. If the disaster affects the whole area, some employees might not be reachable right away. Recovery shouldn’t depend critically on any one person’s availability.
Everyone with a role in the recovery process should be familiar with the plan and know what actions to take. The plan should get an annual review, to make sure that it takes any changes to the network into account.
Disaster drills will help to make sure people understand the plan and are able to carry out their roles. Simulating a disaster and seeing how people respond to it will uncover any defects in the plan or in people’s understanding of it. It’s better to discover the problems before a disaster happens than after.
It’s important to have an idea how long recovery will take. It will take time to acquire new computers, set them up, and restore the backup files to them. The business needs to last long enough to accomplish this, and it needs to let customers and other stakeholders know how long this will be. Failover machines on a cloud service allow the quickest recovery.
A disaster recovery plan can make the difference between continuing in business and having to shut down. If no disaster ever happens, it still gives you the increased peace of mind from knowing that you would be able to deal with one.
With a solid insurance policy and a good disaster recovery plan, you’re ready to face whatever the future brings. Please contact us for a quote.
As of 2016, 77% of Americans say that money and work are the leading causes of stress in their lives, which takes a toll on business owners everywhere, as well as their employees.
This results in an annual cost of over $300 billion paid out by US companies for stress-related health care and missed work, which is especially detrimental because of the continuously rising costs of health care. It ends up being part of a vicious cycle, one where stress begins to affect your entire life, making you feel unhappy and unmotivated, which can be detrimental to company morale and affect your personal life.
So how can you take on the causes of your stress and learn to manage or eliminate them?
On November 2nd of every year, America celebrates National Stress Awareness Day, a holiday which promotes the understanding of stress factors in our everyday lives and how to handle them.
National Stress Awareness Day was originally established in 1998 by the International Stress Management Association. It was created as a day to bring attention to the way stress affects us and those around us, as well as some helpful ways to cope with the avoidable and unavoidable stresses in our lives, such as work, relationships, diet and overall health.
So what can we do to relieve ourselves of excessive pressure and anxiety? And what can you do as an employer to help your employees manage their workplace stress in a healthy way?
Here are some great tips the International Stress Management Association promotes as ways to reduce stress.
Sit down and prioritize all of the things you have to do during any given day or week in order of importance. This will allow you to systematically work through your list more efficiently.
If you’re a business owner or employer, understand that your employees have a lot on their plates. Help them to set a schedule if they need guidance. Make sure you’re delegating tasks efficiently and not just to the same one or two people.
When you feel better physically, you will also feel better mentally. A great way to deal with stress is to make sure you’re staying hydrated, eating well, and exercising regularly. Exercising is a proven way to release endorphins that put you in a better frame of mind and make you physically feel great.
As a business owner, this is especially important. Don’t take on more than you can handle. You have to be able to delegate tasks when you can, as well as say no when you’ve already got too much on your plate.
Take some time to figure out why you’re stressed. Do you have a big deadline coming up? Are you in an emotionally exhausting relationship? Are you worried about things that may never happen?
Consider what might be bothering you and work toward fixing the problem or accepting the things you cannot change.
Studies show that if you regularly take short breaks, you will work more efficiently and with a clearer mind. As a company owner, encourage your employees to get up and stretch for five minutes or do a lap around the building to get some fresh air. They will return energized and ready to start working again.
Meeting up with friends occasionally is a great way to de-stress. You’ll be able to relax and talk (maybe even about what is the cause of your stress). Often when getting together with friends, you’ll have a good laugh, which is shown to help boost your immune system, one of the things affected by over-stressing.
Offer company-sanctioned outings or “team bonding” events to let your employees relax a little bit and get to know their coworkers and superiors in a way that will allow them to feel comfortable enough to reach out for help if they have a problem and maybe minimize some future stress.
Before you automatically assume the outcome will be the worst possible case, consider what you can do to make it better. If you spend a lot of time overthinking and internalizing a problem, you’ll find that you may have blown it out of proportion.
If you need some help shining a positive light on the situation, try talking it over with a colleague or friend and see if that helps to change your thoughts.
Nicotine and caffeine are both stimulants that hype you up and exacerbate the stress you are already feeling. Additionally, alcohol is a depressant, which can make any negative thoughts even worse, adding to your stress in a different way.
Ultimately, stress is an unavoidable part of our lives. But the results of stress, like increased blood pressure, a declining immune system, heart attacks, strokes, and depression, can all be avoided by learning stress management. This will end up benefiting you and your employees mentally and physically, as well as help reduce costly charges to your business and its group health insurance plan.
So take a deep, calming breath and celebrate National Stress Awareness Day 2016 with us at InsureYourCompany.com!
There are many reasons a business may want to cancel their policy prior to the expiration date, but no matter the reason, a policy holder can cancel the policy at any time.
Most insurance policies are issued on an annual term. 12 months is standard for commercial insurance policies. If the policy is no longer needed, it can be canceled at any time.
The insurance company will typically pro-rate the amount of money owed based on the number of days the policy was active. Earned premium is the amount of premium that the insurance company has earned on your policy as of any given date.
For example, on January 1, you may purchase an annual insurance policy that costs $1,000. On July 1 (exactly 6 months later), the earned premium is $500.
Some policies are subject to a minimum earned premium percentage upon cancellation.
Common minimum earned premiums are 25%, 50%, and 100% of the total premium. If your policy is subject to this, the early cancellation may not result in a straight pro-rate of the earned premium.
For example, a 50% minimum earned premium means you are responsible for paying half of the total premium regardless of when the policy actually cancels—even if coverage was only in place for a week.
Please be aware that most state taxes and filing fees cannot be pro-rated or refunded after the policy is issued. Some policies are subject to a 100% minimum earned premium. This means you can cancel the policy early, but will be on the hook for paying the full premium anyway. In this case, there is no benefit or reason to cancel the policy prior to the expiration date.
This is commonly seen on builder’s risk and liability policies for construction projects.
The insurance companies have minimum earned premiums to discourage policyholders from buying an annual policy when they only need coverage for a short-term project or event. There is also a lot of administrative work that goes on behind the scenes to get a policy issued.
The minimum earned premium is a way for the insurance carrier to ensure they can recoup their administrative costs should a policyholder cancel early. If applicable, the minimum earned premium will be shown on the quote prior to purchasing your policy.
Understanding the minimum earned premium will help prevent any surprises when it comes time to cancel your policy. If you are unsure, just ask your agent—that’s what we are here for.
If you’ve just started running a small business out of your home, you might not know about the advantages of home-based business insurance.
Many entrepreneurs believe their homeowners’ insurance will also cover their home-based businesses. However, this is not always the case. Most homeowners’ policies exclude home-based businesses. That means you won’t be covered for lost data, liability, or lost income.
However, there are many home-based business insurance options out there. Which option is right for you will depend on your specific business circumstances.
In order to determine if home-based business insurance is right for you, it’s important to examine your current homeowners’ policy carefully. Before buying additional insurance, you should understand the coverage you already have.
While looking through your homeowners’ policy, consider the following questions:
So you’ve answered the questions above and determined you need home-based business insurance. Now it’s time to decide what type of policy you need.
According to Entrepreneur, you have three options:
Adding a rider to your existing homeowners’ policy is by far the cheapest options. This will allow you to expand your homeowner’s or renter’s policy to cover the company. This type of rider will only cost you an additional $100 a year, but it will add an additional $2,500 in coverage. This type of coverage is ideal for one-person businesses that do not have a lot of valuable equipment or overhead.
For a larger business, an in-home business policy might be more appropriate. These policies cover many more contingencies such as theft of funds or a critical data loss. They are designed to cover up to three employees. The policy covers injury liability as well as most business equipment.
In-home business policies have to be purchased from a home insurer or a specialty company. It costs between $250 and $500 a year to add an additional $10,000 in coverage. Before buying an in-home business policy, check the requirements in your state. Each state has different rules governing which types of home-based business insurance policies can be offered.
A business owner’s policy is designed for businesses that need over $10,000 in coverage. This type of policy will cover liability, the loss of critical data, malpractice, loss of income due to the business interruptions, and the loss of business equipment. The cost of a business owner’s policy will depend on how much coverage you need. At a rate of $500 a year, you can buy $2 million in coverage. Prices go up from there.
To learn more about the benefits of home-based business insurance or to get a business insurance quote, contact us today.
One of the primary reasons many consumers prefer to frequent a small business is also one of the greatest challenges of small business: founder dependence.
Customers often remain loyal to a small company because the size of the business enables them to have direct contact with the business owner. This creates a strong sense of trust and belief in consistent quality and performance in whatever product or service the business offers.
However, nothing is forever. As your business grows and changes over time, there may come a day when you, the business owner, will have to let go of the wheel. Whether it’s by allowing your staff more control over the business or finally reaching your goal of retirement, the business must be prepared to continue—and thrive—without you.
As a business grows, there is often difficulty in transitioning clientele to put their trust in the hands of employees. It is not uncommon for customers to continue to expect the business founder to be present and personally managing their transactions and needs.
Educators from Michigan State University Extension offer guidance to entrepreneurs for this small business dilemma.
First of all, they advise that from the moment a business founder opens the company’s doors, they should be planning strategically for steady growth. From day one, they should be conditioning their clientele for the day when future employees will be assisting them in the day to day work of meeting customer demands.
In addition to an adjustment to change that affects clients, it is just as common for founders to struggle with delegating duties they once performed themselves. Perhaps a business owner is hesitant to relinquish control out of fear of a lack of quality. Oftentimes, it may simply seem easier to just do it themselves rather than take the time to train someone in the task.
However, if a small business is to ever grow, the realities of demands upon time and physical limitations dictate that founders must simply entrust employees with some of their own duties. Even in the early days of business, founders must continue to remind themselves that their role will eventually change as the business grows and demands become too great for one person to bear alone.
Entrepreneurial experts also advise founders to plan for the future when their business may transform into a family business legacy, being handed over to the next generation and continue being a community presence for the goods and services offered by a founder’s company. Estate planning is an essential responsibility for any business founder.
Business founders already have an expert estate planning resource: the company that is providing for their business insurance needs. Experienced professionals in estate planning can first explore a founder’s business philosophy and management style. Strong founders are what shape the direction of a company and establish its reputation within the local community.
Loyal customers are expecting a thriving business to remain active even in the event of a founder’s retirement or death. Although a business owner is naturally going to manage company profits to provide an active income as well as prepare for future retirement, financially planning for business as usual for the company after retirement or death must not be overlooked.
An investment plan that leaves behind sound financial footing for a future management team insures a founder’s legacy. This is how a small, independently owned company grows into a multi-generational family business.
Although the financial aspect of such a plan is crucial to the success of a future transition, there are many other details to work out. Employees and staff will need to be assured of a seamless, stable transfer of power. Proper estate planning can avoid high stakes drama that can be costly in more ways than litigating who takes over the helm of a family business.
Critical loss of productivity can be devastating. Avoid future catastrophes of founder dependence. Plan properly so that business as usual can continue. Professional services will continue uninterrupted. Marketing can remain consistent as it generates traffic. Customers will remain satisfied.
To get down to the specifics of insurance products to consider, these are the two most popular for small business protection:
Through a transition of power in a small business that has grown to become founder-dependent, professional estate planning can mean the difference between success or failure. For more information on how business insurance experts can help your small business create a lasting legacy, please contact us.
Nearly everyone switches jobs during their career. This is especially true in the IT industry where staff often move from one employer to another. That is why non-compete agreements are such valuable tools for companies looking to protect their business interests.
Non-compete agreements are contracts that prohibit employees from going to work for a rival employer within a certain period or from working in a certain area after leaving your company. They may also prohibit the employee from stealing clients and sensitive data.
The main rationale for non-compete agreements is to encourage innovation by preventing workers with “trade secrets” from transferring technical and intellectual property of companies to rival firms, and to protect the company from the loss of clients.
While non-compete agreements can be a great tool for employers, there are limits on how they can be used. Each state has its own rules for non-compete agreements and some even disallow them entirely.
For example, in New York, non-compete agreements are unenforceable when the employee was terminated without good cause. In California, most non-compete agreements are completely void.
In New Jersey, non-compete agreements are valid as long as they meet certain requirements. New Jersey courts require that non-compete agreements:
According to New Jersey law, an employer cannot prevent all competition. However, a business does have a legitimate interest in protecting trade secrets, confidential information and client relationships. This means that if an employer hires an employee to develop customer relationships, that employer may seek to restrain the employer from leaving and soliciting the same customer relationships that were developed on the employer’s dime by requiring the employee to execute a non-compete agreement. The employer can also prevent an employee from taking confidential and proprietary information to another company. New Jersey courts have found such restrictions reasonable and worthy of protection.
To judge if a non-compete poses an undue hardship on the employee, courts look at the likelihood that the employee will find work in his field even with the non-compete, the burden on the employee by the geographic area proscribed by the agreement, the subject matter of the agreement, and the duration of the agreement.
For example, a non-compete agreement may state that a former employee is prohibited from soliciting company clients in Middlesex County for 2 years. If the former employee breaches the agreement and a lawsuit is brought, the court will look to the aforementioned factors to determine if the restraints are reasonable. Each case is determined based on its specific facts.
The court has the power to change or invalidate any non-compete agreement that is deemed too restrictive. For example, if an IT company’s non-compete restriction prohibits a former employee from working in a 30-mile radius, the court can shrink that radius if it finds there are a shortage of IT professionals within that area.
Non-compete agreements are more likely to be enforced against higher-ranking employees with more access to confidential information. The “higher up” the employee, the more likely it is that the non-compete agreement will be enforced. For example, a CFO with access to sensitive company data is more likely to have a non-compete agreement enforced against them than an entry-level employee.
Like any contract, non-compete agreements must be supported by “consideration.” This can be anything given by the employer in exchange for the non-compete agreement. An offer of employment will usually satisfy this requirement. Therefore, it is often best to have the employee sign the non-compete upon their initial hiring.
For informational purposes, you can download a sample non-compete agreement by clicking here. If you have any questions, it is best to speak with an experienced employment law attorney who can specifically address your needs.
Technology Insurance Associates, LLC’s legal blog, samples and legal articles are made available for educational purposes only as a way to provide general information and a general understanding of the law, not to provide legal advice.
By reading our blog, legal article and samples, you understand that there is no attorney-client relationship created between you and Technology Insurance Associates, LLC. Technology Insurance Associates, LLC’s legal blog, samples and legal articles are not legal advice. You should not act upon this information without seeking advice from a lawyer licensed in your own state or jurisdiction. The blog, samples and legal articles should not be used as a substitute for competent legal advice from a licensed professional attorney in your state or jurisdiction.
Your use of the blog, samples and legal articles is at your own risk. The materials presented in the blog, samples and legal articles may not reflect the most current legal developments, verdicts or settlements. These materials may be changed, improved, or updated without notice. Technology Insurance Associates, LLC. is not responsible for any errors or omissions in the content of this site or for damages arising from the use or performance of this site under any circumstances.
Michael Levenson has extensive experience working for insurance companies and in the health care field. Prior to joining InsureYourCompany.com, Michael was an attorney with one of the largest insurance defense firms in the country where he specialized in health care law and previously served as the judicial law clerk to a judge presiding in the New Jersey State Superior Court.
Mr. Levenson earned his Juris Doctor degree from Albany Law School with honors. While in law school, he served as a Constitutional Law Teaching Fellow and worked at Albany Law School’s Civil Rights and Disabilities Law Clinic, where he dealt with a myriad of health care law issues.
They plant seeds with care and tend their crops meticulously. They feed and house livestock. Their everyday job puts food on our tables. Who are they?
They are the hardworking farmers of this nation, and we celebrate them on October 12th of every year.
Decades of dedication, patience, and trial-and-error led to the type of farming we have today, and just like any other business owner, a farmer must protect their business.
It is much harder to do when your livelihood depends on unpredictable factors like the weather, bugs, and the health of your animals—where anything could happen that could drastically impact them—but insurance companies have come up with ways to protect farmers from financial losses out of their control so they can keep their businesses running and their customers happy.
First and foremost, farms (and ranches) need coverage for the property itself. A farm is always considered a big risk in terms of insurance because all of the property and equipment, products, livestock, and profit are located at one vital location.
A farm also combines residential exposures (houses) with commercial exposures (barns, farm land, livestock), which creates a need for a detailed understand of everything going on at said location. If there were to be a loss, the potential impact is much greater and affects not just a business, but a home as well.
Alternatively, some farmers are dealers of farm feed, fertilizer, seeds and supplies to other farmers. These farmers do not necessarily grow their own crops, but aid in the growth of others’ by selling supplies and fertilizer and sometimes applying that fertilizer for the other farmers. They can have seed or grain silos, for which they would need insurance for as well.
The fertilizing and seeding of farm land also requires a tractor, soil cultivator, seeder, spreader, and/or sprayer, as well as many other pieces of equipment that coverage can be obtained for.
Other farmers raise animals exclusively and need insurance that will cover their farm, their feed supply, and their livestock, such as pigs, cows, goats, sheep, etc. with specialty coverage for poultry and horses.
This insurance protects a farmer’s livelihood by indemnifying them for losses due to the death of an animal from natural causes or otherwise. That indemnification will consequently provide funds for the loss of income due to the death of the animal(s) and/or the money required to purchase or breed replacement livestock.
When the crops are ready for harvest, a farmer can sell their product commercially or locally. Commercial sales involve contracts and quotas, something for which insurance can provide coverage if a contract cannot be fulfilled due to a bad year, an insect infestation, damage due to weather, fire, and other factors.
Local sales can happen directly on the farm itself or at a farmer’s market. Farmer’s markets need insurance just like the farmers do to sell their product. The primary staple of a farmer’s market is almost always fresh produce, but they expanded due to the demand to include baked goods, fresh fish and meat, canned and jarred goods, and crafts. Some markets even allow the sale of ready-to-eat, restaurant-style food and drinks.
As a way to thank farmers for all that they do and celebrate their national holiday today, October 12th, stop by your local farmer’s market right in your own hometown, wish them a happy National Farmer’s Day, and enjoy all they have to offer.
InsureYourCompany.com has been cultivating success for businesses for over 15 years. We are able to help businesses find the right insurance for the right price. Contact us for an insurance quote and start protecting your business today!
When an issue arises at your place of business, what are the first steps you take after it’s resolved?
As a business owner, there is limited time for you to deal with a problem and keep everything else running smoothly. As a result, it may not occur to you to reach out to your insurance agent to let them know what transpired. While this is understandable, given all of the responsibilities that demand your time and attention, it can lead to problems down the road.
In the video below, Alan explains the pitfalls of not keeping your insurance agent in the loop when something occurs at your small business.
Hey, it’s Alan from InsureYourCompany.com. Today, what I’d like to talk about is untimely filing.
What do I mean by untimely filing?
Well, all of you have various forms of insurance and insurance policies. You have your general liability, your workers’ compensation; you might have professional liability or employment practices liability, whatever that is. While you’re running your business, while your business is operating, things happen.
You know what? If something happens, notify your insurance guy. Let them know something has happened. If you don’t and something is not notified on a timely basis, the insurance company can say, “Oops, it’s not covered. It’s an untimely filing.”
I’m not talking about one day or two days. We have various instances where clients learn of issues, and then months go by and they forget to call us up. They forget to notify us, and then 6-8 months later, they get an attorney letter. Why weren’t we notified when you found out?
What’s the worse that’s going to happen? We file a claim and nothing goes from there. But if that problem persists and comes back to haunt you, we already notified the carrier. Now, this can be for anything because once you notify the insurance company, then you have it on record that something was done.
If you have any sort of attorneys or deal with attorneys on a regular basis, you should notify them that you have coverages, that you have all of the insurances you have. Because then, if an issues comes up and you notify your attorney, he’s aware of the insurance you have.
We have had multiple incidents where you’ve contacted your attorneys and they fail to ask you if you have insurance for that particular issue—say, an employment practices issue. So the attorney is busy defending you when the insurance company would be responsible to pay the bills.
So here is what I have to say: If something happens, be it workers’ comp, be it general liability, even if you don’t know where it falls—call up your insurance guy. Let them know that there was an issue; let them file it. Don’t worry. Just filing is not going to raise your premium dollars.
Why do you have insurance if you’re not going to let the insurance company do their job?
This is Alan form InsureYourCompany.com. I’ll be talking to you.
Since 2001, InsureYourCompany.com has been working with New Jersey small businesses to protect their assets and provide great employee benefits. For a free insurance quote for your business, click the banner below to contact our team of experts.
Let’s face it: The millennial workforce is a whole new species of employee.
Gone are the die-hard workhorses that will clock in for decades without complaint or compromise. Millennial employees worry about the Big Picture: their quality of life, their health, time with their families, and being treated fairly for their hours and energy.
This isn’t a true first in the workforce, but it is now a majority that demands the attention of small businesses owners.
Since the Depression, the mighty dollar has steered everyone in our society to the point that they would tolerate a lot just to have that paycheck.
In today’s industry, however, you need employees just as much as they need the job you’re offering. Employees have more options than ever and they will walk away if they don’t feel appreciated and taken seriously.
This means a need for compromise and communication in the workplace.
The millennial workforce is willing to work hard for you, but they want realistic expectations and a flexible environment. Not every employee needs or wants eight hours to complete whatever tasks they are responsible for. They refuse micro-management or lack of individual attention and evaluation.
Quality employees provide you with better output, improved client relations, and product reviews. The modern worker knows their worth and knows they shouldn’t necessarily have to perform during the daytime, weekdays, or for a set period of time.
If you make a future for them, they will make a place for your company in their future.
Millennials in the workplace are far less likely to sacrifice rest and comfort to please you, their employer. They want health insurance that goes above and beyond and allows for more than just traditional options and remedies. Vacation and personal days are mandatory in their expectations of a quality life. They want breaks and comfortable break areas. Many are even looking for company fitness rooms, discounted memberships, or other wellness programs.
This expectation also extends to their families in corporate environments. The joint expectation and desired outcome is that healthier employees are efficient and energetic, requiring fewer sick days and actually using their health insurance less. In the long run, employees last longer and make long-term commitments to your company, your goals and your expectations.
Employment is no longer the most important aspect in the lives of millennial workers. Children and spouses and holiday dinners now take priority over seminars and deadlines. No amount of overtime is worth relinquishing their weekends running marathons or their evenings at book club. Requiring their spare time is simply not accepted as it once was.
There is a new awareness in our society about the benefits of relaxation and physical activity outside of work that results in better employees in the long-term, less turnover, and lower costs.
Obviously our labor laws have come a long way since a time when people were basically abused at work, but even basic safe conditions have come under scrutiny.
Millennials in the workplace are not interested in just the bare essentials. They want comfort and cool air, chairs that don’t strain their back and floors that don’t hurt their feet. You might have to consider specialized footwear and office equipment depending on your industry.
In some cases, you may consider major building renovations if you want to stay competitive.
It isn’t all a one-sided playing field with you making all the concessions. The employees worth all of this investment are top-notch. Their commitment to better work in less time, fewer mistakes, and ultimate loyalty are their currency to bargain with. Watch your relationship evolve to a true team environment where everyone has the same risk, the same losses, and the same potential for gain.
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InsureYourCompany.com has been treating clients like family for over 15 years. You’ll never have to talk to an automated phone system—we have business insurance experts ready to provide personalized customer service, not only helping you with your insurance and employee benefits needs, but showing you how to be a smarter business owner.
If you are in the IT industry InsureYourCompany.com is the insurance agent you want to work with, we are technology insurance experts and have changed the way you do business. See below a list of professionals who we help today.
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We believe in supporting our clients through every step of the insurance process. From choosing the right coverage to filing a claim, we are here to offer guidance and support. Request a free quote today and get coverage that meets your unique needs.
