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Dec 2018
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Some insurance companies offer employee dishonesty coverage to protect businesses against loss of money and property due to criminal acts by employees. This can be valuable protection. But before you buy a policy, it’s important to understand what you’re getting. What it does In addition to covering businesses against theft of money, property and securities, employee dishonesty insurance covers willful damage to property. If, for example, an employee smashes a computer or kicks a hole in a wall, it’s likely covered. And it covers losses from all employees. However, coverage is based on occurrences. So if more than one employee is involved in a single theft, the payout is based on that single occurrence. Rates and deductibles typically depend on your business’s level of risk. But separate employee...
Outsourcing Can't Solve Every Problem, But It Could Help Your Business For many years, owners of small and midsize businesses looked at outsourcing much like some homeowners viewed hiring a cleaning person. That is, they saw it as a luxury. But no more — in today’s increasingly specialized economy, outsourcing has become a common way to cut costs and obtain expert assistance. Why would you? Outsourcing certain tasks that your company has been handling all along offers many benefits. Let’s begin with cost savings. Outsourcing a function effectively could save you a substantial percentage of in-house management expenses by reducing overhead, staffing and training costs. And thanks to the abundant number of independent contractors and providers of outsourced services, you may be able to bargain for competitive pricing. Outsourcing...