Business Insurance: Tips to Motivate Your Employees

Business Insurance: Tips to Motivate Your EmployeesBusiness Insurance: Tips to Motivate Your Employees

Employees are precious resources in an organization. Motivated, loyal employees boost productivity and provide the collaboration and innovative ideas a company needs to flourish. This post is

That doesn’t mean cushioning their paychecks. One of the top reasons employees leave is they don’t feel valued or appreciated at work. Inc. recently highlighted several tips on how to build a great team of motivated employees.

Personal growth trumps bonus. If an employee has an interest in something, they will be much more motivated to do it. Give them the freedom to take on a project they thought of, or let them try a new initiative. Google engineers are encouraged the take 20 percent of their time to worked on something that interests them personally. Gmail and Google News are two ubiquitous ideas that started in an employee’s “free time.”

Status matters. Sometimes giving an employee more authority will spur motivation. If an employee has a suggestion to improve a project, encourage them to draw up a plan and give them the authority to implement it.

Perks. Again, emphasis on the non-monetary. Use concert tickets as a reward for the highest salespeople at the end of the month. Providing great benefits is a huge draw to employees. Be generous with vacation time, and encourage employees to truly take a vacation, not drag their smartphone to the pool.

Recognition.  It is an innate human desire to be appreciated. If an employee works tirelessly on a project, they deserve to be recognized. Knowing they are valued and appreciated will strengthen their loyalty to the company and they will continue to take pride in their work.

Sinclair Risk & Financial Management works with companies of all sizes to design and implement Business Insurance and Group Medical options that rethink the traditional way of offering benefits and meet the financial needs of employers while also addressing the choices and flexibility employees want. Contact us today for more information about our business insurance programs. 

Restaurant Insurance: Online Marketing Tips

Restaurant Insurance: Online Marketing TipsRestaurant Insurance: Online Marketing Tips

Everyone has an opinion. Social media has amplified consumer feedback into larger than life megaphones that can affect a restaurant’s business if not managed properly. They also can be exceptional tools to generate buzz for your establishment. This post, Restaurant Insurance: Online Marketing Tips, is brought to you by Sinclair Restaurant Insurance programs.

Social media is only a buzzword until you come up with a plan to make it work for you. Below are some tips to optimize your restaurant’s internet marketing strategies, ensuring that you get the best return for your business.

Gather intelligence. Assess your restaurant’s online presence on the internet. Are customers talking about your restaurant? Are the reviews positive? Negative? Negative feedback can be an opportunity to improve your own restaurant and convert dissatisfied customers and learn what you can improve on. Listen carefully and always respond (politely, of course). Once you’ve analyzed your current status, you have a starting point from which to develop and implement your marketing strategy.

Identify your message. Everything from Facebook and Yelp to your webpage should be a direct reflection of your restaurant’s distinct values and approach and it should be cohesive across the board. Are you a casual restaurant? Known for organic cuisine or unique cooking techniques? A visitor to any one of your social media platforms should know what your restaurant is about instantly.

Engage. Don’t make a profile for your restaurant and forget about it. A customer should never log onto your restaurants events page to find out it hasn’t been updated since 2009. Post content regularly. Publish video interviews with the restaurant’s chefs and staff to give your sites more personality. Create a dialogue with customers by responding to all their comments, negative or positive. Every interaction with your restaurant is a chance to attract new customers and build loyalty with your current ones.

Sinclair Risk & Financial Management has innovative restaurant insurance and risk management solutions for Restaurants, food and beverage manufacturers, processors, packers, and distributors. Contact us today for more information about our Restaurant Insurance Programs

Related: Restaurant Study Personalized Online Marketing Strategy Key

For more information about restaurant industry, check out Restaurant.org

Technology Insurance: GoogleEDU Helps Employees Stay Ahead of Curve

Tech Trend: GoogleEDU Helps Employees Stay Ahead of CurveThe tech industry is based upon continually evolving innovation, and tech companies will stop at nothing to recruit the best and brightest.

In one of our recent posts, we discussed how many companies are recruiting students before they graduate from college. Now, they are pouring millions of dollars into educational programs and resources, to not only recruit the best and brightest, but to continually help them improve. And it starts with summer camp.

More and more parents are sending their kids to Tech camps, where computer screens and programming replace boating outings and campfire songs. ID Tech Camp, for example, specialize in teaching kids ages 7 to 18 everything from 3D modeling and animation to web design and programming in C++. Kids can enroll in sessions, learning everything from how to create computer games to game design specifically for the iPhone and iPad.

Camps are often held at college campuses across the U.S., including Standford, University of California at Los Angeles, Princeton, and the Massachusetts Institute of Technology, according to the Wall Street Journal.

The education doesn’t stop after summer camp. Google has created a learning and leadership-development program, known as GoogleEDU. Looking at learning in a unique way, the system relies on data analytics to determine the effectiveness of their teaching.

About a third of Google’s expansive workforce went through the in-house program last year. Google is constantly retooling classes, nixing ones that don’t work and readjusting strategies and focus to ensure the techniques their employees learn are applied outside of the classroom. The idea of continuing education is firmly embedded in their company culture, meant to encourage innovation, collaboration, and to foster company loyalty by investing in their employees.

The increasing emphasis on education represents the eternally mercurial nature of the tech industry- there is a constant need to continue to innovate, develop, and improve. The Technology industry faces an array of complex challenges and risks – from physical damage to reputational loss. As Technology Insurance specialists in this sector, Sinclair Risk &Financial Management can provide your firm with the experience and expertise in risk consulting, insurance solutions, and claims managementContact us today for more information.

Technology Insurance: Pros & Cons of Virtual Companies

Technology News: Pros & Cons of Virtual CompaniesTechnology Insurance: Pros & Cons of Virtual Companies

Many businesses now rest solely on electronic information. The Wall Street Journal estimates the amount of electronic information in the world doubles every two years.

The availability and nature of the technology industry allows many companies do to just that; become entirely virtual. Gone is the need for cubicles and conference rooms. Skype & DropBox, a desk in your apartment, and a cloud server can fulfill your needs just fine. Technology, rather than walls and water cooler banter, hold a company together. Gene Marks recently profiled his virtual company in Forbes: here is why he chose to go virtual:

“My company provides technology consulting, which is a typical virtual company description. We specialize in sales and marketing technologies, particularly customer relationship management software… Except we’re really not together. That’s because we have no offices. We used to have offices, but I shut them down a long time ago. I decided to do this because every morning I would open up the doors, sit behind my desk and wait…for no one to come. All of our people would be out working at our clients. Or they would just work from home, because that was easier.”

Marks’ company functions on about 10 employees, some full time and the rest contractors. They get together once a year for a holiday lunch.

A virtual company saves astronomical amounts of money. There is very little overhead cost, no utilities or rent, no company luncheons or office maintenance costs. Geographical location is no problem, giving you a wide expanse of talent to recruit from literally across the entire globe.  It is a formula that the technology industry is uniquely suited for.

There are trade-offs to the virtual business model. Opponents argue it could cut down on innovation and the natural collaboration that emerges when people physically work together. You miss out on developing the camaraderie that creates a strong team. There is the basic human aspect. You don’t get to know your co-workers, or really develop relationships with them outside of business.

What is your opinion of the virtual business model? Is the cost-effectiveness worth the trade-off in traditional face-to-face relationships? Let us know your thoughts!

Regardless of your business model, you’ll want to protect your business and your employees. The Technology Industry faces an array of complex challenges and risks – from physical damage to reputational loss. As specialists in this sector, Sinclair Risk & Financial Management can provide your firm with the experience and expertise in risk consulting, Technology insurance solutions, and claims management. Contact us today.

Manufacturing Insurance: Robots Playing More Intricate Role

Manufacturing Insurance: Robots Playing More Intricate RoleTypically, robots in factories haven’t worked alongside humans. Safety concerns have kept them contained in cages away from workers so no one is injured or maimed and manufacturing insurance is kept to a minimum.

Now, however, technology is beginning to change that. According to a recent Wall Street Journal article, companies including Japan’s Kawada Industries, Inc. and Fanuc Corp. are creating more dexterous robots to perform delicate tasks such as assembling smartphones that they were previously too bulky and uncoordinated to perform.

Switzerland-based ABB’s global product manager for small robots Nicolas de Keijser stated that the robots weren’t meant to replace humans in factories, but as a complement to them. The switch, if the technology pans out, could cut labor costs, and could even reduce the allure of low wage countries. Currently, robots are typically used in making cars and semiconductors or other goods produced in high volumes. Kawada’s robot starts at about $90,000 for the basic model.

In theory, robots are designed and capable of making just about everything. They can perform some tasks much more efficiently than humans. However, robots do not have the flexibility to adapt that humans do. If an issue arises, or a part isn’t exactly where it’s supposed to be, the robot can’t perform. In addition, programming the robots for various tasks can take months, but consumer electronics have short product life cycles- many manufacturers can’t wait for reprogramming every time a design changes.

Currently, many start-ups are putting a lot of research into developing robots for manufacturing. One is making focusing on small manufacturers and making a robot with an easy interface more similar to that of an iPhone. Another is looking into a robot that can jointly assemble airplane parts. One even programmed a robot to make a margarita, not to replace bartenders, but to show that a robot can function in a unpredictable environment.

Sinclair Risk & Financial Management has the vast experience required to serve the complex industry of Manufacturing. Our breadth and depth of expertise and understanding for not only your business but also the market in which you operate gives us the ability to help you plan for potential losses and liabilities. Contact us today for more information. 

Technology Start-Up Insurance: Forget the Degree and Get to Work

Technology Start-Up Insurance: Forget the Degree and Get to WorkThe stories of techie college dropouts who have gone on to create multimillion dollar start-ups are Silicon Valley lore. Bill Gates. Steve Jobs. Mark Zuckerberg. The list goes on and on, and tech companies today are paying big to find the next visionary.

In the fast paced world of technology, companies are looking, at risk of sounding tiredly cliché, for “the next big thing.” And they are willing to pay high prices. More and more tech start-up firms are luring bright college students to work for their firm- before they graduate college.

The huge technology boom created a shortage of engineers and software developers, and companies are eager to lock up the next great mind. As a result, companies are taking more creative and aggressive approaches to recruitment. In some ways, the rush for the latest new talent is not unlike the NBA or NFL draft. And many students are opting to go “pro.”

Companies are rolling out the red carpet on recruiting tactics, including wining and dining recruits at fancy restaurants, offering free goodies such as iPad raffles, cash giveaways, and plenty of free food. Google has started a student ambassador program in which college students are paid to recruit their peers to work for the company. Google plans to double that program from about 400 currently to 1,000 next year. Peter Thiele, a billionaire Facebook investor, started a fellowship program that offers 20 students $100,000 over two years to skip college and work on world-changing products.

They are compensated well for leaving their degree behind. According to the Wall Street Journal, starting salaries at leading companies for the average computer science grad at a top school ranges from $75,000 to $100,000, signing and relocation bonuses, and even equity grants. Many college students see it as a risk worth taking, given the large starting salary and opportunity to work for an exciting new start-up with some of the biggest names in the business.

The Technology industry faces an array of complex challenges and risks – from physical damage to reputational loss. As specialists in this sector, Sinclair Risk &Financial Management can provide your firm with the experience and expertise in risk consulting, insurance solutions, and claims management. Contact us today for more information. 

Source: Wall Street Journal.