For the past 20 years, higher education costs have not only risen (much) faster than inflation, but they’ve increased at a higher rate than costs in just about any other sector, including health care! While total inflation since 1994 has averaged 2.3% a year, health care costs have risen 3.7% yearly on average. But that pales in comparison to college … Read More
First step of retirement planning? Figure out your goals
Are you ready for retirement? There are a lot of calculators out there, from simple to complex, that claim to help you figure that out by crunching your numbers and spitting some back at you. Knowing the numbers can be helpful to give you a basic idea of where you stand. (FYI, we like this calculator from Bankrate.) But numbers … Read More
Manufacturers: Are you insuring your building and property correctly?
Would you insure your house for $500,000 when you only paid $200,000 for it? Of course not. Here’s another question. Say that the house you purchased for $200,000 burns to the ground. Would you expect your insurance policy to cover the replacement cost of your house based on the $500,000 coverage you were paying for? Of course not. It all … Read More
In 2016 OSHA fines may be going up, way up
Buried in the Bipartisan Budget Act of 2015 is a provision that would bring a startling increase to Occupational Safety & Health Administration (OSHA) fines. Unchanged since 1990 and not indexed to inflation, OSHA fines are set to jump nearly 80% next year, with increases indexed to inflation after 2016. The Federal Civil Penalties Inflation Adjustment Act of 1990 tied … Read More
How to handle the challenges of an aging workforce
Take a look in the mirror…were those gray hairs there yesterday? Take a look around your office…could you be asking the same question? Nobody’s getting younger, not even me! But the American workforce is rapidly aging, creating a number of challenges for businesses of all types and sizes. The secular trend is stark: From 1976 to 2006, the percentage of … Read More
Are you prepared for an OSHA ‘pop-in’?
*ring ring ring* You’re not expecting anyone, but someone’s at the door…it’s your Aunt Elaine, famously resistant to getting a cell phone, who was in the neighborhood and thought she’d take a chance you might be home and drop by. Aunt Elaine may be great, but let’s face it, nobody loves a pop-in. While we tolerate the occasional boundary-crossing friend … Read More
Employers: Safety is your responsibility (but we can help!)
A billion dollars…right out the window. That’s what American businesses spend each week on worker’s compensation claims. If that isn’t enough to give you pause, that figure represents only the direct costs of medical and legal payments. Indirect costs of training replacement employees, conducting accident investigations, hiring crisis management PR experts, repairing equipment, lost productivity, and low staff morale easily … Read More
Obesity: The numbers (and costs) are staggering
I’ll start with a piece of good news: the smoking rate among United States adults declined from 20.9% in 2005 to 17.8% in 2013. There’s still a ways to go, but at least the numbers are moving in the right direction. Now, the (very) bad news: Americans are snuffing out the cigarettes but apparently picking up the cheesecake, because more … Read More
Thinking about hiring domestic staff? Following these smart practices will help minimize risk
Busy professionals reaching ever higher levels of success often find that as their assets grow, free time shrinks. To recapture some of life’s most precious and ever dwindling commodity, many families hire domestic staff in the form of housekeepers, nannies, drivers, chefs, and other personal service providers. Once your family’s needs go beyond just having a weekly cleaning service for … Read More
Hiring a contractor? Don’t get caught without ‘Additional Insured’ protection
It’s that time in your home’s life that fortunately only comes around once every 20 to 25 years or so…roof replacement time! Or maybe it’s time to tackle a big task with a shorter life span, like painting the house. Either way, for projects at this scale you wisely skip the DIY approach and instead find yourself in the market … Read More