Each of these thoroughly-researched articles includes quotes from people in our database of over 400 of the nation’s foremost management consultants, workplace psychologists, and employment law attorneys.
To contact Phillip M. Perry send email or call the author at (212) 274-8694.
HOW TO RECESSION-PROOF YOUR BUSINESS. Businesses can survive and thrive in an economic downturn if they retool their operations well in advance of a decline in business activity. Critical steps include eliminating operational inefficiencies, leveraging technology for increased productivity, paying off credit lines, securing sufficient working capital and diversifying funding sources. Above all, managers should plan for continued growth rather than resort to undisciplined cost cutting.
MENTORING: How Your Best Employees Can Supercharge Your Staff. With the growing mobility of the nation’s workforce, employers risk losing valuable expertise when skilled workers walk out the door. Mentoring can help stem the loss as more experienced personnel communicate their knowledge to other staff members. A well-run initiative fosters greater employee loyalty, more effective problem resolutions, and a fatter bottom line.
HEALTH INSURANCE: Funding the Right Policies for Your Employees. With health insurance premiums rising faster than inflation, employers are finding it tougher than ever to find affordable group coverage. Some relief may be in the offing in the form of the Trump administration’s promotion of less costly plans and loosening of restrictive regulations. While employers always welcome new ways to save money, they must also beware of questionable policies that might stick their workers with huge bills for costly medical procedures.
FORECAST 2019. What will the coming 12 months bring for business owners? Will the economy improve or deteriorate? Will consumers maintain their healthy confidence? Will positive factors such as healthy corporate balance sheets energize the business environment? Economists and business organization leaders address these questions in this annual survey.
FILLING THE LENDING GAP: How to Land a Business Loan from Nonbank Sources. Alternative lenders may extend critical financing when commercial banks reject a loan application. Before accepting money from nonbank platforms, though, borrowers should perform due diligence, assessing each organization’s reputation for fair dealing. The benefits of easy and quick money must be balanced against the negatives of higher interest rates, costly service fees, and late payment penalties.
SOCIAL RECRUITING: How to Use Social Networks to Attract Top Talent. In a tight labor market employers must use every tool at their disposal to land the best talent. Social media, in particular, provide effective platforms for reaching the “passive candidate” who is not looking for a new position but might be lured by an attractive offer. Employers need to lay the groundwork for their social recruiting efforts by creating a brand presence that will attract the best performing people.
FAMILY BUSINESS TRUSTS: Protecting Valuable Assets from Outside Threats. Family businesses can use trusts to protect valuable assets against a variety of threats. Carefully designed trusts can avoid costly probate, buffer the enterprise from lawsuits and creditor claims, and resolve disputes about the distribution of assets to the next generation. Starting the planning process early will help protect the business from sudden loss due to an unexpected lawsuit or death.
HOW TO KEEP YOUR ‘A’ PLAYERS. In a labor market growing tighter every month, employers must take steps to obviate the loss of their top performing workers to aggressive competitors. Key actions include implementing “pay for performance” systems and assuring lateral or vertical advancement pathways. Employers should also provide frequent performance feedback and allow star performers sufficient autonomy.
PREVENTING SEXUAL HARASSMENT: How to Create a Respectful Workplace. Sexually oriented comments and behaviors can destroy workplace morale and spark costly lawsuits. As victims of sexual harassment become more willing to speak out, organizations of all sizes are taking steps to address the problem. Employers can protect their personnel by instituting policies and procedures that promote a respectful business environment. Three attorneys and a management consultant tell how.
WORKPLACE VIOLENCE: How to Reduce the Risk of Tragedy. A troubled employee’s violent act can devastate any business. The tragedy of human injury is the most immediate result. Too often the event also traumatizes the workforce and results in damage to the organization’s reputation. Finally, costly lawsuits by injured parties can result in bankruptcy. Four workplace violence experts tell how your readers can obviate tragedy by taking immediate action when employees begin to exhibit high risk behavior.
HAPPY HOLIDAYS: Get Ready for a Profitable Christmas Season. Retailers should enjoy the best Christmas season in years, thanks to a robust economy, low unemployment and high consumer confidence. Even so, shoppers will be watching prices closely, due to the high-profile closings of many stores. Merchants need to promote packages of related merchandise, establish a festive in-store environment, and double down on employee training.
EMPLOYEE HANDBOOKS: Profitable Tools for Small Business. Employee handbooks can help boost profits by lending efficiency to workplace operations. When benefits and responsibilities are clearly defined, supervisors are freed from the time-consuming task of responding to numerous procedural questions. Even so, handbook provisions must comply with federal, state and local laws while avoiding the creation of inadvertent contracts of employment.
WORKPLACE DRUG ABUSE: Reducing the Risk of Impaired Employees. More people than ever before are using drugs illicitly, presenting employers with the costly burden of identifying and responding appropriately to workplace impairment. The problem has become more difficult with the escalation of opioid addiction and the legalization of marijuana on the state level. Failure to maintain a drug free workplace can lead to an erosion of profits caused by everything from lower employee productivity to lawsuits by injured customers.
WORKERS COMPENSATION INSURANCE: How to Cap Costly Premiums. Workers compensation insurance plays a critical role in returning injured employees to health while protecting employers from costly civil lawsuits. When a workplace experiences too many accidents, though, escalating premiums can take a big chunk out of the bottom line. Employers need to train workers in safe work habits and shop for carriers who will partner in identifying fraudulent claims.