Business in a Box

 Workers' compensation insurance is a useful tool in managing workplace injuries and maximizing employee output. Workplace accidents and illnesses can happen at any time, even if employees are telecommuting. As workers' compensation claims rise and productivity falls, it can have a devastating effect on a company's bottom line. To wit, in the year 2020: Employers in the private sector reported about 2. 7 million cases of work-related illness or injury. The number of incidents when time was lost from work was above 888,000. U.S. Bureau of Labor Statistics, "Employer-Reported Workplace Injury and Sickness," 2020 https://www.bls.gov/news.release/pdf/osh.pdf

How to Start a Workplace Mentorship Program The skills gap in the U.S. is getting worse. Employers are very worried about the skills shortage, which is caused by a lack of tech training to keep up with the growth of AI (artificial intelligence), retiring Baby Boomers, and a lack of soft-skills training in students. 57% of organizations plan to use mentoring and coaching and 56% plan to do reskilling training in the next twelve months to close the gap. If your business has a skills gap, you might be wondering how mentoring could help. Could a small business use it? In this article, we'll talk about what a mentorship program is, how it can help your business grow, and the seven steps you need to take to be successful. Do you want to learn more about HCM solutions? Talk to us. What is a Program for Mentoring? Mentorship programs help new hires or employees at the bottom of the career ladder find more experienced mentors who can teach them skills and knowledge that will help them move ...

 Laws about paid leave start in 2023. Any business owner knows how important it is to keep up with the changes in the business world. One important thing that all successful employers have in common is that they know the local, state, and federal laws that affect their business. This includes paid leave laws and laws that protect workers when they need to take time off. All businesses must follow these laws, which vary from state to state. In March 2022, 86% of full-time workers could take paid leave. This shows that many businesses must follow paid leave laws. Contact us if you want help figuring out how to navigate leave laws to make sure your company is following the rules. What do "Leave Laws" mean? There are a number of state and federal laws in place to protect employees. These laws are meant to cover a wide range of situations. Leave laws are one of these. They are meant to protect a worker's job security if they need to take time off. These laws protect the rights...

  You know gross margin impacts your profit, but have you considered the impact it has on the value of your company?  When assessing your company’s value, acquirers and investors will often scrutinize your gross profit margin. Gross profit margin is the difference between a company’s revenue and its cost of goods sold. In other words, it’s the profit a company makes from each unit of product or service sold after accounting for the cost of producing or delivering that unit but does not include other fixed expenses. For example, if a company sells a product for $100 and it costs $70 to produce and deliver it, the gross profit margin would be $30, or 30%.  A high gross profit margin is a crucial factor for investors and potential acquirers as it indicates that a company has established pricing power through marketing differentiation and possesses a competitive advantage. A strong competitive moat is an indicator of a company’s long-term sustainability, making it more ap...