business continuity

If you've picked up a newspaper in the past year, you've heard about the rise of artificial intelligence (AI). Most of the media coverage pertains to the down sides, including fears of privacy breaches, the spread of misinformation, biased algorithms, plagiarism, job displacement, and the list goes on – to the point where legislation and policy changes are being considered around the globe.
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In many cases, the reasons for letting someone go are quite obvious and difficult for employers to ignore. This includes things that can be measured, like a decline in performance made clear by shrinking sales numbers and frequent absences. Then there are the ones that are witnessed or reported from other workers, such as poor team dynamics and low overall morale.
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Business is a great way to supplement your income, pursue your passions, or build a foundation for a future full-time venture. However, it's important to be aware of the risks involved before you take the plunge.
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Both business owners and employees have likely heard of OSHA, which stands for the Occupational Safety and Health Administration, a federal agency that sets and enforces safety regulations to ensure a safe and healthy working environment for employees.
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Business owners in North Carolina are likely in tune with some of the most essential factors that lead to success. Some examples of things that are taught in most business classes include the importance of customer retention, building a loyal customer base, and building a positive brand reputation.
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Now that the tax deadline for 2022 has passed, as a business owner, you might be left thinking about ways to make it easier when the next one rolls around. Since many are busy enough actually running the business, it's easy to push the accounting work to the side, which is fine... until tax season approaches. By then, you have a mammoth job ahead of you.
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As a business owner in North Carolina, you have the option of hiring contract or permanent employees – and many more businesses are using contract workers while sorting out the uncertainty in the economy. A contract employee is essentially a freelancer who has agreed to work for you for a mutually-agreed upon period of time, which may be extended if you see fit. A permanent employee has been hired with the understanding that he or she will go on working for you until a termination or a resignation. Both types of employees have their advantages and disadvantages. Some of the advantages of contract employees, however, are illusory.
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Successful small businesses are often the result of the proverbial blood, sweat, and tears of the owner. They require no small measure of risk, sacrifice, and commitment. Long hours, unpredictability, increased responsibility, financial insecurity, and a host of other factors all make running a small business a challenging and taxing endeavor.
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Over the last decade, there's been a shift in the workplace, one that prioritizes the health and happiness of employees. For large corporations, like Facebook and Google, that might include time allotted to working out each week in an on-site facility, and for most, it's meant a shift in work schedules from in-person office time to hybrid models. This new "business as usual" allows increased personal freedom and an improved work-life balance for many. However, for managers, it has necessitated an overhaul of procedures to ensure traditionally effective business standards are met.
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Remote work options, both fully and hybridized off-and-on site iterations have overtaken traditional office models, studies have shown that it can have adverse effects on some employees' mental health. The American Psychiatric Association (APA) conducted a comprehensive online survey in the spring of 2021 of 1,000 remote workers' self-reported mental health, and the majority reported negative impacts on their mental health. In fact, Since transitioning to a remote model; isolation and loneliness, in particular, were noted by nearly two-thirds of respondents.
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The appeal of freelance, contract work, and work-from-home careers is broad and deep, including the unlimited opportunity for financial growth, unfettered freedom, flexible schedules, the pursuit of personal goals, and the list goes on. And, while that's all as true as the day is long, so is the lack of structure and unmitigated personal accountability. For freelancers, time management is of the utmost importance. Without a strong commitment to making and keeping deadlines, responsibly managing workflow, and sticking to some sort of structured daily schedule, freelancing can spell personal and financial disaster.
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The "Great Resignation" and labor shortages throughout 2021 made recruiting and retaining employees a challenge for businesses across the country. And, while 2022 remains an employee's market, there's room for hope. The U.S. Bureau of Labor Statistics' April 2022 jobs report showed that both the unemployment rate and participating labor force closely mirror pre-pandemic numbers, remaining steady at 3.6 percent and 62.2 percent, respectively.
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An impending lawsuit is never good news. Not only are they costly, but, perhaps worse, they can permanently damage a company's reputation, an expense no business can easily afford during highly competitive consumer and employee markets like the current. While companies are sued for a range of reasons, there are a few recurring culprits that can be avoided with appropriate planning, clear communication, and due diligence.
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When COVID-19 shut the entire world down two years ago, many wondered how businesses would pivot and persist. As closures and restrictions continued far beyond anyone's initial projections, it became obvious that "business as usual" was going to be anything but. And, while the transition to a remote model for schools and businesses throughout the world was an unprecedented shift with no real map for structure or outcomes, many made the adjustment with relative ease and found the remote model was not without benefit. Now, as the corporate world attempts a return to what was, it faces a number of concerns and considerations, not the least of which being a pool of employees that might rather remain remote.
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Internet queries for advice about finding success in life, love, and business consistently top trending charts, while self-help titles touting one route or another as the road to greatness never fail to make their mark on the New York Times Bestsellers list. So, if you've ever wondered how to make that proverbial lemonade from the lot of lemons life may have dealt you, here are some bits of entrepreneurial wisdom from some of the world's most successful people.
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Business travelers, and the travel managers who plan for them, have different concerns when it comes to addressing unexpected inconveniences. Corporate travel insurance policies can be a great fit for any business looking to mitigate expenses related to company travel, including non-refundable costs associated with emergency flight or hotel changes, necessary medical treatments for traveling employees, and equipment or property loss. While canceled flights, missed connections, baggage delays, and medical emergencies are difficult for any traveler, there are unique considerations for corporate travelers and specific provisions for the business travel insurance policies that cover them.
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Due to the COVID-19 pandemic, the modern workplace has undergone some massive changes. And while adjusting to these has involved some growing pains, especially for employers, this new world of work is not necessarily a bad thing. If you're a small business owner, you may have some concerns and hesitation about adopting a flexible workplace model. Here are some steps you can take to explore what it means to have a hybrid workplace and find solutions that work for you and your business.
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The New Year is a time to start fresh. And that doesn't have to only apply to your personal life. You can also take advantage of the energy and momentum around New Year's to make improvements to your company. If you want to take your business to the next level, here are five New Year's resolutions to commit to in 2022.
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Whether you're a business owner, contractor, or employee, most likely you take job safetyand on-the-job injuriesseriously. But many people have incomplete or incorrect information about Workers Compensation Insurance, which is designed to support both employers and workers when an injury does occur. Take the time to read about some common misconceptions about Workers' Compensation Insurance, and set the record straight.
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Extreme weather is becoming more and more common these days, but even run-of-the-mill heat, rain, or snow can ruin an event or make it very difficult to carry out certain business operations, like construction. And when you have put thousands of dollars into a multi-day festival, film shoot, wedding, outdoor sale, or any type of activity that can be negatively impacted by the weather, it can be devastating to have to cancel or postpone due to intense heat or a dangerous storm. Even worse, you might not be able to recoup your costs, unless you have weather insurance.
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For a small business owner, having to let go of employees is never easy. When employees have become like friends or even family, it can be especially tough to make a decision to do what's right for your business. So how do you know when it's time to let people go, and how do you downsize in the most humane way possible? Here are some things you should consider before downsizing, and some tips for going through the process.
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So your business is growing, and that's a great thing. But as you add employees, assets, services, or any other elements, your business operations naturally become more complex. In addition, as your business grows, different laws and regulations may start to apply. If you're at a point where it's getting hard to keep up with all the rules you're supposed to be following and monitor whether your employees are fulfilling their legal and ethical responsibilities, it might be time to look into hiring a compliance officer.
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After a year of living through a global pandemic, many people's work lives look much, much different. While many of us are excited to get back to the office, others actually worry about returning to the demands of a nine to five schedule away from home. Employees and employers alike are wondering: is remote work here to stay?
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All business owners in North Carolina need solid, affordable insurance, and many companies require multiple types. But what happens when something goes wrong and your insurance doesn't cover it? If the cost to pay for injury to others exceeds your policy limits, or worse, is excluded by the insurance policies you have, you could be stuck with potentially crippling out-of-pocket costs.
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