Entries Tagged 'Sign Of The Times' ↓

While many are now talking about recovery, recession is still very much on people’s minds these days and some employers are planning to reduce their workforce. The last thing any business owner wants to do is to lay off employees, but you need to be prepared to deal with the negative reactions a layoff can engender both within your company and in the community.

As well as playing havoc with employee morale, there are other problems caused by layoffs: According to research by the private nonprofit mutual insurance company Louisiana Workers’ Compensation Corporation, workers’ compensation claims may increase by as much as 50% during layoffs.

If you must lay off employees, how can you avoid post-layoff claims and protect your experience modification factor? Here are five steps you can take to avoid potential workers’ compensation claims during times of layoffs or restructuring.

Step 1
Ask your workers’ compensation and employment practices carriers to help you design and implement a layoff strategy to protect your organization. But don’t rely solely on your carriers. Consider hiring a consultant with expertise in this area. Even just a few workers’ compensation claims can devastate your company’s loss history.

Step 2
Conduct exit interviews with each employee who will be laid off or terminated, and ask at least one company executive and a human resources consultant to attend the interview. This should be treated like a normal exit interview in which the employee is asked for input on items that will help ease the transition as well as for feedback on improving the corporate culture.

Use a checklist to ensure that you cover the same questions with all employees. If the employee raises concerns, be sure to answer his or her questions and write down comments made by the employee and the company representative. Document the interview; you may want to ask the employee to sign the checklist receipt so it can be included in his or her personnel file.

Step 3
Think twice before you ask an employee to sign a waiver stating he or she is not injured at the time of layoff, as some experts recommend. Waivers rarely work as intended, and asking laid-off employees for waivers may damage your company’s goodwill in the community. Ask for advice from legal counsel before asking your workers to sign waivers.

Step 4
If your plant is closing, it likely will generate publicity; be prepared for the media to closely scrutinize your handling of the situation. Keep the closure as transparent as possible, and hire a media consultant ahead of the announcement if you anticipate unwanted media attention.

Step 5
Be prepared for some laid-off employees to file workers’ compensation claims after they are terminated. Ensure that your managers and your insurance carriers thoroughly investigate any incidents that occur.

If you must reduce the number of employees, it is critical that you empathize with the feelings and stress that accompany a layoff. Treat employees with the utmost respect, but also ensure that your organization is protected during the process.

Every day we’re bombarded with advertising for auto insurance. According to a recent U.S. survey, car insurers alone spent $5.3 billion on advertising in 2011 – an increase of 15% over 2010.

Why? The industry is changing. Vehicle registrations are down, and most North Americans now keep their cars longer due to the economy. Many are even dropping physical damage coverage. And insurance companies are feeling the pinch.

A large number of auto insurers are competing intensely for your premium dollar. The majority of auto premiums go to the top insurance companies, and particularly if you have a stellar driving record, these insurers want your business badly.

To get it, most provide quotes online. Shopping online for auto coverage may seem like a good alternative; you can receive a quote in less than five minutes. However, unbiased experts (those not involved in the auto insurance industry) offer the following cautions:

First, to obtain an accurate quote you must be prepared to give out sensitive information, such as your Social Security number, online.

Second, you may not get the details you need to compare policies from one company to another. Often coverage options are vague, using terms like “standard coverage,” which does not fully explain what you will receive for your hard-earned premium dollar.

Last, and probably most important to the consumer, you usually aren’t provided with information on how the insurance company you choose online will handle a claim.

My office can provide you with all the same information websites offer. And more. Instead of hours of Web searching and DIY comparisons, why not discuss your individual circumstances with your insurance professional, who can tailor coverage to your needs?

Auto insurance is more than a commodity. It protects your family from liability arising from the use of your car. Why buy something that important from an unknown source?

Whether you’re taking off for a holiday in the sun or a visit with relatives out of town, here’s something you don’t want to forget. An unoccupied home is subject to many hazards, so to avoid an insurance claim, take preventive measures before you leave. Below are some things to do to protect your house while you’re gone:

• Ask a neighbor to watch your home for damage or suspicious activity. Make sure you leave a spare key and a phone number where you can be reached in an emergency.
• If you live in one of the cooler parts of the country, keep the heat on in your home in winter to avoid frozen pipes. Letting pipes drip slightly in freezing weather can help prevent them from bursting.
• Unplug electrical appliances and computer equipment to protect against power surges. If you use a surge protector, ensure it’s sufficient.
• Stop mail delivery and newspapers. Nothing shouts “We’re away” like papers piling up on your porch.
• If your home is in or near a flood zone, put important papers and electronics out of harm’s way.
• Trim trees and bushes from doorways and windows. Potential thieves will feel exposed. Also trimming branches may prevent wind damage to your property and others’. You can be held responsible if your neighbors allege that your lack of maintenance caused damage to their property.
• Ensure you purchase enough insurance to cover any possible claim. No one expects to have a loss, but if you do, you want to be adequately protected.

Social media has certainly changed the way we communicate. Did you know it also may have changed our insurance needs? Blog and Facebook posts can generate liability that may not be covered under homeowner’s insurance policies.

Personal injury claims for defamation or slander and invasion of privacy are a growing concern. Under most standard homeowner’s policies, personal injury is not covered but you can add an endorsement.

That said, personal injury coverage has limitations. When these posts are intended to harm, as can be the case when young people take part in cyberbullying or “electronic aggression,” coverage may not apply.

The Centers for Disease Control and Prevention define electronic aggression as “any type of harassment or bullying that occurs through email, a chat room, instant messaging, a website (including blogs) or text messaging.”

Acts of electronic aggression are considered intentional acts. Even if your child forwards an offending post, your family may be drawn into litigation or a police investigation.

Clearly, monitoring your child’s online behavior is critically important, but you also may want to think twice about your own posts. In one case a man posted damaging remarks about an eBay vendor, who retaliated with a $15,000 lawsuit. In today’s world, no one is safe from electronic litigation.

Remember, once you post something, you usually can’t take it back.

If this concerns you – and what parent wouldn’t be concerned – talk to my office about adding a personal injury endorsement to your homeowner’s policy.

The dream of most couples used to be 2.5 kids and a house in the suburbs surrounded by a white picket fence. Now, according to municipal planners, families should scratch out “suburbs” and insert “smart growth urban communities” instead.

Arising from a shift toward urban intensification, these communities include high-density housing where everything you need is available at your fingertips. No more gas-consuming commutes. Urban intensification offers amenities and promotes walking, biking and transit-taking.

Furthering their claim, supporters of smart growth communities note that the shift not only accommodates fast-paced population growth but also protects the environment in several ways.

However, critics are wary of the move. For them, “high density” living is a colorful way to describe cramped housing. They’re expressing concerns over the depletion of local resources and a diminished quality of life.

They also note that the higher cost of real estate, caused by shortages of housing and buildable land, may have an opposite of what is intended: It may send people (and jobs) to the suburbs for more affordable housing.

But aren’t communities that encourage walking and biking more “healthy”? The jury’s still out, but studies comparing activity levels of kids in the ‘burbs and city kids indicate that city kids play more outdoors. However, this isn’t yet linked to their health status.

The debate continues. Whether the new dream becomes the condo in the sky will be determined, ultimately, by where people want to live. As always, we’ll vote with our feet.

If you’re like the rest of us, you frequently receive solicitations and ads from cut-rate insurance companies promising to save you money on your auto or homeowners insurance. And, like most of us, you are being very careful with your money and looking at all your expenses in the hopes of cutting costs. However, buying cut-rate insurance may cost you much more in the long run.

Insurance is your first line of defense against life’s calamities. After a loss, you want to be able to count on a good insurance company to help you through all the problems that arise. For example, a full-service insurance company with a good reputation can:

• Provide prompt and courteous service year-round after a loss.
• Provide knowledgeable adjusters who can assist you in making important post-loss decisions.
• Locate a top-rated repair shop near your job or home to repair your damaged car.
• Promptly and conveniently provide a replacement vehicle while your car is in the shop if you purchased rental coverage.
• Pay for an alternative living space that is as similar as possible to your home if you are unable to occupy it after a loss.
• Provide a strong defense with excellent legal counsel if you are sued after a loss.
• Ensure prompt board-up services after a loss.
• Help you locate a trustworthy contractor if your home or roof is damaged.

Cut-rate insurance carriers cost less because they generally provide fewer services.

The decision to purchase insurance should go beyond price. Protection for your home and family after a loss is priceless.

Do your research and talk to people who have purchased low-cost insurance to find out if they are pleased with the claims service they have received. Chances are, they’re finding the cost of their “low-cost” insurance is far too high.

To this day, I won’t text my kids. I want to hear their voice; I want to hear if they’re happy, sad, excited or whatever. Their human voice gives me the clues that texting doesn’t allow. I have found this to be true in business as well. Now studies are showing the power of verbal communication.

The kids at camp who called their mothers nightly may have known more than their fellow campers thought. The human voice, like human touch, can act as a calming agent.

A 2011 University of Wisconsin study tested girls ages 7 to 12 who were given public-speaking assignments. Those who spoke to their mothers by phone or in person before the event had lower stress hormones than those who received email or texts or had no communication with their mothers at all.

In today’s hyper-communicating society, giving the human voice its due may seem counter intuitive. But though the keypad may be mighty, it’s also a weak substitute for the voice.

Why? The study suggests that texting removes the elements of pacing, tone and volume from communication. Emoticons are a poor substitute for the verbal cues that give words a meaning beyond the words themselves.

Unfortunately, many people spend the majority of their days communicating by computers and phones with little human interaction. Corporations have bought into the idea that regular tweets and status updates will build a support base among customers.

They may be rethinking that approach. According to a study out of the University of Missouri, adding a human voice element to an organization’s website can increase consumer satisfaction, building trust and commitment. As a result, many forward-looking companies are combining their online presence with a vocal presence.

Good to know the human voice is still in business.

The statistics are startling: Teen drivers are three times more likely to die in an auto accident than are those aged 25 to 64.

So it should come as no surprise when insurance companies raise your rates by 50% to 200% when your teen starts to drive. Fortunately there are ways to lower your rates, despite your teen driver.

Statistically, the longer your teen waits to drive, the less chance he or she will crash. Sixteen-year-old drivers crash three times more frequently than do 19 year olds. If your teen is not sufficiently mature, make him wait until he is.

A driver’s education course offers a lot of pluses for your teen and can reduce your rates by as much as 15%. Some insurance companies also offer good-student discounts.

Limit nighttime driving, as more than 40% of teen-involved fatalities occur between 9 pm and 6 am. Also note that distracted driving is now an epidemic in the U.S.; don’t allow calling or texting while driving. No passengers either; research indicates that the risk of driving fatalities increases with the number of passengers.

Once your teen turns 18, consider a separate insurance policy. If you decide to purchase a used car for your teen, be aware that older-model cars, while cheaper to insure, may have fewer safety features such as side-impact air bags.

Don’t forget, for your teen this is a rite of passage on the way to adulthood. Of course it’s important to keep your premiums low, but it’s more important to produce a good, safe driver.

The face of the American workforce has been changing. These days many companies seldom see their workers, as most employees work almost exclusively from home. Many managers agree that virtual work saves organizations a great deal of money and actually increases productivity. However, virtual work creates new risks for any organization.

When your employees begin working from home, you must implement new policies and procedures to help keep your virtual workers safe and productive when they’re working at home. Here are seven tips to help you better manage your virtual workforce:

• Update each employee’s job description and include current essential job functions that reflect his or her home-based work. As difficult as it is to police, ensure that you develop written policies and procedures around the use of social media.
• Discuss the appropriate insurance and decide who pays for it. Also, set ergonomic standards for home offices. Visit your employee’s home to ensure that their workspace is appropriate. Is the work area separate from the rest of the family? Is it well designed or is the computer sitting on a milk crate? Your employee’s equipment should be appropriate to the task, so make sure that your employees use appropriate desks, ergonomic keyboards and well-fitted chairs.
• Some companies supply the equipment themselves, however, others want their employees to pay for their own, believing the employee’s initial investment is a trade-off for the savings he or she will reap in reduced gas and vehicle maintenance costs.
• After your initial visit, continue to communicate with your employees and make adjustments as needed. Implement an annual reminder checklist for employees working from home, addressing fire and life safety issues as well as data security or other concerns.
• Do not assume virtual employees work only from home. One survey found that virtual employees worked at three or four different locations. As well as home, these locations might include parks, beaches or coffee shops. Consider potential security issues at each of these locations and develop policies to protect your data and your employees.
• If employees report to the office for any part of the day, for example for a meeting, many managers require them to stay for the entire day. This reduces commuting risks and arguments over whether commuting time is compensable.
• Ensure that virtual workers know what to do if they hurt themselves at home. They should know the location of the nearest industrial clinic and understand your specific injury-reporting requirements. After an injury, the employee’s job description provides the treating physician with critical information to assist his or her return to work in a modified-duty position. It also helps to determine if the injury arose out of his or her work on behalf of the company or whether it resulted from household work. You do not want to pay injury claims if they are not work-related.

In today’s economic environment, the virtual workforce will continue to expand. With some preparation, you can help keep virtual workers safe in their homes and increase productivity as well.

Many people who formerly owned or rented are moving in with relatives to save costs in this troubled economy. This means many rental properties and single-family homes are sitting vacant and awaiting sale or foreclosure.

If you own a property that is vacant, is your insurance coverage adequate? Vacant houses have higher risks of vandalism, arson and other losses; if a property is unoccupied for a certain length of time, usually 30 to 60 days, your insurance coverage may cease or offer only limited coverage in the event of a loss.

To determine if you should update your insurance information with my office, ask yourself these questions:

• Do you own a rental property that you can’t keep occupied?
• Have you moved out of your home while you try to sell it or await foreclosure?
• Do you travel extensively or perhaps live part of the year in another residence?

If you answered “yes” to any of these questions and haven’t updated your status recently, it may be time to do so. Should you suffer a loss, the status of your property when you completed your insurance application greatly affects your coverage. For example, if your home was occupied when you purchased your coverage, your insurance carrier will assume that it is still occupied. If, after a loss, an adjuster determines the house was unoccupied, your claim may be denied or significant portions of coverage may be declined.

Why run the risk? Contact my office and correct outdated information.