Sometimes people don’t like change. Sometimes the innovation is ready before the market is ready for it. But progress depends on innovation, so giving an environment that allows risk-taking is critical. It is actually mandatory, to get real innovation.
Great companies serving great communities The 2016 Greater Cincinnati Pillar Awards honor greatness in the name of outstanding community service. On behalf of everyone at
Are you an idea killer? You could be unaware that you discourage new concepts
Accounting and reporting requirements can be a significant burden for companies without the vast human and financial resources of larger enterprises. One organization is hard at work to make things just a bit more manageable for these middle market companies: The Private Company Council (PCC).
Two hot topics California businesses will be thinking about as 2016 gets going are a minimum wage increase and a split property tax proposal for businesses that own real estate. Whether you view these changes as opportunities or challenges depends on your point of view, says JC Timmons, senior vice president, Southern California Corporate Banking, at Bridge Bank.
Small Business Administration (SBA) loans can be a great resource for businesses that are struggling to obtain funding from traditional lenders, but they should not be viewed as a loan of last resort, says Ken Mannina, senior vice president and regional sales manager at Bridge Bank.
Companies need to consider the makeup of their employee populations as they develop best practices on their benefits communications, says Karen K. Delaney, GBA, Vice President and Employee Benefits Market Leader at Woodruff-Sawyer & Co.
As individuals struggle to identify how much money they will need to retire, companies that sponsor 401(k) plans have their own challenges. Many businesses are finding it difficult to design plan provisions that encourage participants to save for retirement at the 15 percent rate (matching included) recommended by most advisors.
You’re obtaining a policy based on something that may or may not happen and you’re paying a premium for that coverage. says Dawn M. Jaffray, Senior Vice President and CFO at United Fire Group (UFG Insurance). You need confidence that if there is a loss, fire or major catastrophe, your insurer will be there to minimize the disruption to your business.
Risk managers typically don’t have the capacity to invest large amounts of time preparing for a loss that may never occur. But when you reserve a reasonable amount of time to prepare for certain losses that could be damaging to your business, the effort can more than pay for itself in the long run, says Zac Overbay, Senior Vice President and Partner at Woodruff-Sawyer & Co.
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