Payroll Management

[payroll-management]

Why Your Company Should Have Business Insurance

Insurance is a type of financial protection product that helps to cover losses. Many people have life insurance to help cover the costs and financial losses associated with death, and all drivers in the United States must carry auto insurance to cover damages that result from causing a car accident. While personal insurance for life, health, and auto may be common, you may not realize that business owners should carry insurance as well.

What is Business Insurance?

Business insurance is an insurance product that helps to protect businesses in the event of certain losses or damages. There are several sub-categories of business insurance that are available to protect different facets of running a business. For instance, business interruption insurance is a type of business insurance product that helps to cover losses suffered as a result of a business being temporarily shut down for various reasons.

Employees insurance is another type of coverage that may protect your business’ workers in the event of a health matter. Employees insurance may also be considered health insurance, depending on how your company’s benefits are organized. The goal of this type of insurance is to protect your company's bottom line by helping employees maintain good health.

Why Business Insurance is Important

Business insurance is important because there’s often a lot riding on the stability and health of a company’s finances. When a business is sued and loses in court, the business may need to pay out huge sums of money that could ultimately end up bankrupting the business. If a fire or other disaster strikes and shuts down a business for days, weeks, or months, that lost time could mean that the business will not have the capital needed to survive until repairs and restoration have taken place.

Finding Business Insurance

To find the right business insurance products for your company, you may consider working with an independent insurance broker. These are professionals who represent products from multiple insurance companies, and brokers can impartially shop policies to help business owners find the right coverage options for the specific needs of the business.

Read a similar article about health spending account here at this page.

[payroll-management]

How Digital Signatures Improve Onboarding Efficiency

Digital signatures revolutionized many consumer-focused processes. Think about how it transformed banks, insurance providers, lawyers, and other document-heavy organizations. But despite its benefits for consumers, companies are slow to adopt it internally.

There are many ways to use digital signatures in your organization's daily operations, but it's most convenient during the onboarding process. Software for employee onboarding can distribute, save, and manage digital documents, changing the game for HR professionals.

Not convinced? Here are three reasons why digital signatures could make your onboarding process more efficient than ever.

Time Savings

Contrary to popular belief, onboarding a new employee isn't as simple as signing a handful of documents. It's more complex and often involves multiple stakeholders.

The biggest hurdle is getting documentation through those stakeholders. Everyone's busy, and it's often a waiting game to deliver, sign, and validate documents. It's hard enough with a single employee. But can you imagine the time it would take to get through that with a bulk recruitment event?

Digital signatures create a level of automation. You can deliver documents, get them signed, and keep everything organized without a single printout.

Better Security

Another perk of using digital signatures is the level of security you get. Paper documents are easy to forge, steal, or lose. Unless you're on top of physical file management, there are always risks.

But when you use software for employee onboarding, you can make those issues a thing of the past. The files are all digital, making them easier to transmit and keep safe. Signers also create their own protection barriers with PINs, passwords, and even biometric security measures.

Pure Convenience

Of course, we can't forget to bring up the convenience of it all! Most companies these days have a well-defined tech stack. Things might evolve and change, but technology is here to stay. Some holdouts still use paper documents, but that number is dwindling daily!

Digital signatures are far more convenient. You don't have to worry about the costs of printing documents out. Plus, there's no need for physical storage, regular upkeep, and confusing organization. With digital signatures, accessing and completing documents for your new hires is a breeze.

Read a similar article about employee training management software here at this page.