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Hi! I hope that your week is starting off well! In today's essay InformedContractors.com guest expert contributor Brian Lanari explains Enterprise Risk Management and why you need it to avoid certain risks in your business. Also in today's issue... Don't let OSHA catch you with your pants down. Find out more in today's Check it Out! And our Quick Tip today has a suggestion for increasing the exposure of your business now that the days of the yellow pages are major-league numbered. We hope you enjoy this issue of InformedContractors.com. Cheers, "The first step in the risk management process is to acknowledge the
Enterprise Risk Management (ERM) Q. What is Enterprise Risk Management? A business risk involves the probability of a loss intrinsic in a company's operations and environment. Enterprise risk management includes methods and procedures that companies use to manage and seize opportunities related to the achievement of their goals. Q. What are some of the common risks that businesses face?
Q. What is involved with managing these risks? Employee risk management involves indoctrinating and training employees in workplace safety. This can include:
There are also compliance issues; some states have thousands. Financial risk management involves being completely aware of, and nurturing, your company's financial condition. This can include:
Q. How often should you review your risk management strategies and how does this help your bottom line? Continually! Regular reviews of the strategies you follow will allow you to make adjustments before a problem can seriously impact your business and bottom line. Pay attention to your workers and their environment and keep in mind that employees who feel cared for will be safer and more productive. Workplace safety equals lower costs. Reducing employee risks can have the following effects on your bottom line:
Reducing financial risks can have the following effects on your bottom line:
Bottom line: Mitigating the risks outlined above clearly equals strengthening your bottom line. Assess which procedures are working and which aren't; repeat those that are working and dump those that are not. About the Author: Brian Lanari has more than 25 years of experience in risk management. He specializes in HR benefits, PPACA (Obamacare) compliance, etc. He has had thousands of clients and employees through the years. By managing risks, his goal is to ensure the longevity of his clients and help maximize their profits. Please feel free to visit Brian at his LinkedIn profile: https://www.informedcontractors.com/brian-lanari Check It Out! Speaking of Risk Management I read a quick blurb online that said that OSHA surprise visits are becoming increasingly more common! Don't let OSHA catch you out-of-compliance. Get your safety plan and products in place before they gift you with a surprise visit! For over 60 years, Seton has been the leading manufacturer and distributor of safety identification products for the workplace. Their line of custom products is designed to provide safe, secure, and practical solutions for your contracting business. Click here to check out their pocket-size employee guides! https://www.informedcontractors.com/safe-employees Too perfect! :) Quick Tip Do you know the best way to get your name out there and customers ringing your phone off the hook and your books full of projects? The days of the yellow pages are numbered. If you think about it, how often do YOU refer to the yellow pages when you need something? Are you going to let your competitors steal the few-and-far-between projects that are available? Well... they've figured it out and they're actually thriving - even in this economy. https://www.informedcontractors.com/localbiz When you get there and you're just below the middle of the page you'll see a letter from Judd Burdon, owner of a small asphalt business. I was surprised to read his letter, it's been updated and wow(!) check out the new customer he just got - the United States Army! https://www.informedcontractors.com/localbiz Look Who's Talking! I love the idea of being able to take your own paper form and turn it into an app – eliminates the learning curve because you are working with something familiar. I had at least one gal on FB who thought it was really cool as well as I shared that article on my business FB page. ~ Nancy Smyth, President Sunburst Software Solutions, Inc. (Send me your comments and maybe you'll see your name and company name above!) :) FOLLOW US ON TWITTER * LIKE US ON FACEBOOK * LINKEDIN * GOOGLE+ * VISIT OUR BLOG What Did You Think? Please let us know your thoughts on today's issue. Remember - sharing is caring... Copyright © 1999 - 2013 MONK AND DBUG, LLC NOTE: If URLs do not appear as live links in your e-mail program, please cut and paste the full URL into the location or address field of your browser. Disclaimer: InformedContractors.com only recommends products that we've either personally checked out ourselves, or that come from people we know and trust. For doing so, we may receive a commission. Nothing in this e-mail should be considered personalized advice, legal or otherwise. Although our employees may answer your general customer service questions, they are not licensed under laws to address your particular legal situation. No communication by our employees to you should be deemed as personalized advice. For specific legal advice please visit: https://www.informedcontractors.com/ja |
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