Business Law
How Your Business Can Avoid Lawsuits
Posted on October 6, 2022
No business owner wants to deal with the headache and expense of a lawsuit. But unfortunately, even the most well-meaning businesses can find themselves on the wrong side of the law. The good news is that you can take steps to help avoid legal problems before they occur. One of the best ways to protect your business from lawsuits is to be proactive about risk management. This means taking steps to identify and mitigate risks before they result in legal action. You might perform regular safety audits of your workplace, […]
Retirement Plans Are Becoming Mandatory. Does Your Business Have a Good One in Place?
Posted on September 27, 2022
Illinois now requires employers with at least five employees to offer a retirement program of some kind. For businesses with 16 to 24 employees, the deadline for establishing a retirement plan is November 1, 2022. For businesses with 5 to 15 employees, the deadline is November 1, 2023. Regardless of your business’s size, retirement benefits are crucial. Individuals of all ages are increasingly concerned about retirement and many fear the end of social security. Workers want competitive retirement plans with a high match rate. If you want your company to […]
Are You Prepared To Handle Internal Employee Disputes?
Posted on September 20, 2022
Unfortunately, even with many people remotely working these days, employee confrontations and allegations still exist. This is a big cause for legal issues that arise within the human resources arena. How a company handles employee allegations and disputes directly reflects on the business’s company culture. Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and the Occupational Safety and Health Act (OSHA) are just some of the laws requiring employers to thoroughly investigate employee allegations. Employers must investigate claims of harassment, discrimination, safety violations, and […]
Can You Access The Bank Accounts Of Deceased Family Members?
Posted on September 15, 2022
If your family member passes away but has no legal documents explaining who should receive what assets and only had their own name on the bank accounts, what happens to the funds in the accounts? What legal action can you take at this point? Questions like these are vital to consider. When an individual does not have any estate planning documents in place or have other individuals on their bank accounts, surviving family may be left with many more questions than answers. This is why it is so important for […]
Let Your Customers Know You Are Doing Your Best
Posted on September 13, 2022
To say that times are tough for business owners right now is to massively understate the challenges facing small and mid-sized businesses across the country. Businesses are plagued with staffing shortages, supply chain interruptions resulting in delays and shortages, and lingering financial effects caused by the pandemic. The stress caused by these issues affects both businesses and the customers they serve. One survey showed that 87 percent of consumers have been negatively impacted by supply shortages and delays. Consumers reported feeling frustrated, anxious, and angry due to these issues. Concerningly, […]
Combating Labor Shortages in Manufacturing
Posted on September 6, 2022
Labor shortages have affected many industries, but few as harshly as the manufacturing industry. In our modern world, manufacturing jobs require not only operational know-how but also substantial digital expertise. Workers with the necessary skillsets are rare, and many who do have the necessary skills have moved on from manufacturing jobs to positions with higher pay, better benefits, or more flexibility. Increased costs and supply chain disruptions caused by lockdowns and the Russia-Ukraine war are only exacerbating problems in the manufacturing industry. Employers in the manufacturing industry are now faced […]
Would Your Business Get Top Dollar in a Sale?
Posted on August 30, 2022
Would you like to get top dollar for your business when you eventually sell it? If so, you will need to start preparing now. It usually takes about five years to get a business ready for sale, so the sooner you start, the better. Many business owners fail to think about how to increase the business’s value before putting it on the market. This mistake can cost you dearly. Whether you plan to sell soon or you are simply readying your business for a possible sale in the future, it […]
Safe, Updated Data Management is Essential To Business Success
Posted on August 23, 2022
As a small or mid-size business, it’s imperative that you have a consistent, thorough, and secure process for gathering, storing, and interpreting data. This is crucial to staying ahead of competitors, making informed decisions, and protecting employee and client information. Hacking is more common than ever. Data breaches exposed an astounding 22 billion records last year alone. Cyberattacks can cause legal issues and frustrations for not only you, but also your customers and clients. If you have been putting off securing your system, you should put it to the top […]
Helping Employees Pay Student Loans Is a New Incentive to Attract and Keep Top Talent
Posted on August 9, 2022
The cost of a college education has skyrocketed in the last few decades. About half of all college students graduate with debt, and the average amount owed is just under $30,000. Many employers recognize the massive financial burden their employees with student loans are currently facing. Simultaneously, employers across the country are struggling to attract and keep high-quality workers. In response to these concerns, more and more employers are offering various types of student loan relief to employees. The CARES Act has paved the way for employers to offer student […]
Is Your Anti-Discrimination & Cultural Training Up to Today’s Standards?
Posted on August 2, 2022
The United States is often referred to as a “melting pot.” Few other countries are as diverse as the U.S., and many small and medium-sized businesses reflect this. Companies with employees of varied backgrounds, cultures, genders, and ethnicities benefit from workers’ unique life experiences and perspectives. Originality, creativity, and outside-the-box thinking are just some of the advantages associated with a diverse workforce. Businesses staffed with employees of differing life experiences are also less likely to get caught up in groupthink which leads to suboptimal business practices and stagnation. Unfortunately, discrimination […]
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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.
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