Your 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...
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