Recently, a colleague of mine wrote a blog post called “How to Avoid Negligent Hiring.” There were some great ideas and thoughts and suggestions, but one thing that was omitted was what kind of costs were associated with a bad hire.
According to a recent survey and blog post by Robert Half Finance and Accounting, there are several costs. The first thing listed by respondents was lowered staff morale (39%). The second was lost productivity (34%). Monetary costs (25%) came in third place. Though they vary from industry to industry, monetary costs can be as much as three times the salary of the person being replaced.
An employee causing an incident can be bad news for a business, especially if that employee ends up hurting someone else. Negligent hiring is a case where an employee injures a co-worker or customer while on the job, leaving you and your company in a difficult position.
In January of 2016, the Affordable Care Act (ACA) will begin to directly impact businesses with between 50-99 employees. While health insurance rates have been impacting business owners since the start of the ACA several years ago, those companies with 50-99 employees haven’t had to offer healthcare or face a fine. That’s changing in a couple of months.
The interesting thing about the ACA is that the very people it is supposed to help, low income workers, seem to be the ones least interested getting their healthcare, even when it’s offered by their employers.
Unfortunately, confirmation alone of a positive test for drugs or alcohol is not solely enough to obtain a denial of a workers’ compensation claim. Per Ohio statute (ORC 4123.54), there are several specific qualifications that must be met prior to the ultimate denial of a claim.
There are four “statutory hurdles” that an employer must clear in order to have a claim denied in which the claimant tested positive for illegal substances:
It takes more than just a good idea to improve your business. Without proper execution, it’s hard for anything to succeed. This includes a workplace safety program for your business.
Whether it’s due to a lack of clarity or troublesome rule breakers, there are hurdles for some programs to succeed. Given the benefits of a workplace safety program, both obvious and less-apparent, it’s an endeavor worth taking. Here are three reasons why a safety program may fail and what you can do to help overcome them.
A safe workplace can help make for a more successful business. Not only do safety guidelines help keep your employees safe, they also save you from having to deal with costly workers’ compensation claims.
In our last blog post, we discussed the cost of employee injuries and how workplace safety programs can help keep your workers on the job and your cashflow strong. This time we focus on some unexpected benefits of safety programs.
Workplace injuries can cause more than just physical pain. Businesses lose billions of dollars each year because of injuries, which can include costs from compensation claims and loss of productivity.
Injuries can’t always be prevented, but workplace safety programs can really limit the amount of incidents on the job. With June being National Safety Month, take a chance to learn about how much injuries can hurt your business and what you can do to help.
Many small business owners can tell you in a given day what they are paying for fuel in their fleet of vehicles, how much their labor costs are, what their inventory costs are, etc., etc., but most cannot tell you their Unemployment Tax Rate.
No, it's not because owners don't care about the bottom line. More likely, this is because many business owners do not understand that Unemployment Tax is an expense that can be controlled.
Whether you’re dealing with workers’ compensation or unemployment claims, risk management can be a struggle for any business. You only have a certain amount of hours and budget to handle everything that needs to get done to run a successful organization, so having to deal with potential risks can put a damper on your profitability.
Fortunately, a Professional Employer Organization (PEO) like Group Management Services (GMS) can help. Our trained professionals know human resource functions like risk management inside and out, allowing you to breathe easy and save both time and money in the process.