Ways to Foster Workplace Wellness

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Managing an office that promotes a healthy work-life balance is a trial-and-error process. Between constant accessibility as a result of technology and the pressure to meet deadlines, employee and workplace wellness is too often compromised.

It may not seem like your responsibility, but you want to encourage your employees to balance their personal and professional wellness. Some of the most successful companies in the country are investing in their employees’ wellness.

We’re here to help. Below are five ways to implement workplace wellness in your office.

Get up and active

Identify a workout studio that is close to your office location and attend a class as a group. Encourage people to initiate fitness groups within the office, or opt for walking meetings. Apps like Eventbrite and Groupon sometimes post special deals for companies looking to explore fitness.

Professional and continuing education

Employee and workplace wellness is not always about physical health – it includes mental, intellectual, and emotional. Remind your employees that their careers and growth are important to you. You can show that you mean it by going the extra mile and getting your employees in touch with wellness professionals from the likes of LeggUp (https://www.leggup.com/) or similar coaching platforms, and help them unload mentally to stay sane. Furthermore, you can offer to cover the cost of educational workshops and classes that will help people improve the work they do and strengthen their confidence in their trades. You can read up on blogs such as https://www.edenhealth.com/blog/what-are-employee-benefits/ to learn more about the aspects of employee benefits that could be integrated into the corporate culture.

Keep hydrated and improve workplace snacking options

That third cup of coffee is doing nothing to hydrate you. Water is extremely important to keep your body healthy – from your skin to your kidneys to your blood pressure – and often goes by the wayside during the busy day. Design company water bottles as a friendly reminder to your employees to prioritize hydration. If the budget allows, invest in a flavored water dispenser like this one.

Mandatory mental health days

Well, maybe not mandatory, but employers can do a much better job emphasizing the importance of mental health days. Your employees are hard-working and don’t want to be seen as slackers, though they might very much need a personal day every so often. Drop hints that you are understanding as an employer and encourage your staff to take time when they need it.

Modernize your desk and other office furniture

The research is in: desks are not healthy. Employees are often seen to be complaining about the issues in the office’s furniture, poor utilization of workspace, and absence of recreational places. For the employer, sometimes, these problems might not seem genuine, however, when ignored for a long period, it can affect the productivity of the employees. An office interior design expert might help with easy solutions for problems such as these. Also, did you know that some companies are replacing their chairs with a yoga balls as a way to fix employees’ posture and burn calories? Others are opting for adjustable desks, which allow workers to sit or stand. Both of these options often result in an increase in productivity and decrease in back pain. All in all, one must know that good office equipment and furniture could prove to go a long way in improving posture and overall health!

Get some sunshine

Encourage your employees to get their daily dose of vitamin D when the weather allows for it. Set an example by eating lunch outside or making it known that you are going for a walk.

The bottom line is this: employee and workplace wellness is not optional, it’s essential. Not only will it help your employee retention, but an increase in productivity and workplace happiness will only benefit your business.

Study Shows Majority of Boston Area Small Businesses Are Overexposed to Risk

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56-percent of companies failed a business risk assessment, operating without basic safeguards against damage caused by cyber-attacks, HR issues and other common operational realities

This past summer, we conducted a study to see just how aware Boston area small business owners are of their overall insurance coverage. This was the first study of its kind; we call it the Cleary Small Business Risk Index.

The results were scary.

The Index shows that more than half (55%) of Boston area businesses failed a risk assessment that probed 19 areas of risk management including cyber security, professional liability, employment practices and more.

So what does this boil down to?

“This proved what we have always assumed – most business owners don’t understand how to properly assess or account for risk,” said Bill Cleary, president, Cleary Insurance. “The answer isn’t always ‘more insurance.’  There are many ways to offload, avoid or manage risk. But in order to succeed, you need to understand the basic situation, and too many business owners just don’t.”

The Boston-area wide survey (including businesses on the North Shore, South Shore and Metrowest) was conducted online questioning 100 business owners, operators and employees spanning a variety of industries including healthcare, retail, financial services, and more.  All respondents had a significant influence on the operational decisions of each company.

Could you pass? Take the Cleary Small Business Risk Assessment today to test your understanding of coverage.  Also, check back for the next few posts which outline and answer some of the greatest areas for risk.

Is Your Business Prepared for a Natural Disaster?

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While all businesses should have a plan in place to protect their employees and their bottom line when a natural disaster hits, they should also consider their location and the insurance that is necessary to keep their doors open after a catastrophic event.

For a detailed disaster plan you can visit  the link:  https://www.fema.gov/pdf/library/bizindst.pdf

Reviewing the insurance plan:

Businesses should review their insurance plan to reduce out of pocket expenses.  Make sure you have significant coverage to pay for the indirect costs of the disaster, disruption to your business and the cost to repair or rebuild your premises.  Most policies do not cover flood or earthquake damage and you may need to buy separate insurance for these perils. Be sure you understand your policy deductibles and limits.  New additions or improvements should also be reflected in your policy. This includes construction improvement to a property and the addition of new equipment.

For a business, the costs of a disaster can extend beyond the physical damage to the premises, equipment, furniture and other business property. There’s the potential loss of income while the premises are unusable. Your policy should include business interruption insurance and extra expense insurance. Even if your basic policy covers expenses and loss of net business income, it may not cover income interruptions due to damage that occurs away from your premises, such as to your key customer or supplier or to your utility company. You can generally buy this additional coverage and add it to your existing policy.

Basic commercial insurance to consider:

  • Building coverage provides coverage up to the insured value of the building if it is destroyed or damaged by wind/hail, or another covered cause of loss. This policy does not cover damage caused by a flood or storm surge nor does it cover losses due to earth movement, such as a landslide or earthquake, unless added by endorsement.
  • Business personal property provides coverage for contents and business inventory damaged or destroyed by wind/hail, or another covered cause of loss.
  • Tenants improvements and betterments provides coverage for fixtures, alterations, installations, or additions made as part of the building that the insured occupies but does not own, which are acquired and made at the insured’s expense.
  • Additional property coverage provides for items such as fences, pools or awnings at the insured location. Coverage limits vary by type of additional property.
  • Business income provides coverage for lost revenue and normal operating expenses if the place of business becomes uninhabitable after a loss during the time repairs are being made.
  • Extra expense provides coverage for the extra expenses incurred, such as temporary relocation or leasing of business equipment, to avoid or minimize the suspension of operations during the time that repairs are being completed to the normal place of business.
  • Ordinance or law provides coverage to rebuild or repair the building in compliance with the most recent local building codes.

Questions to ask yourself when assessing your personal insurance needs

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In light of the recent natural disasters happening around the globe, we are unfortunately reminded of the importance of obtaining proper personal insurance. If you are a homeowner, it is pertinent to routinely assess your personal insurance policy’s coverage. Unforeseen events (knock on wood) happen, and at that time you will be relieved of one less stress with the proper policy.

Personal insurance can range from home to auto, and rental to expensive items like jewelry and electronics. If you have something of value that is not yet covered by insurance, there is no harm in learning about your options.

We’re here to help with the legwork. Below are a few questions you can ask yourself when evaluating your personal insurance policy.

  • How much coverage is enough for my home?
  • What would it cost to replace my belongings?
  • Do I need or have reimbursement for additional living expenses if I can’t live in my home due to loss?
  • How much would it cost to repair the inside of my home if it were damaged?
  • Should I get insurance in the case of natural disasters (i.e. flood, earthquake, hurricane, etc.)?

The goal of personal insurance is to guarantee your family is secure, financially and emotionally. At Cleary, we believe a solid insurance policy is a necessary step in order for your family to live life to the fullest. Contact us with any questions.

3 Tips for Building your Startup

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The first step is to come up with your business idea – now it’s time to build! In order for your new startup to be a success, you need spunk, determination and a strategy.

But where to begin?

From product, to employees, to clients, the responsibility can be overwhelming. We’ve put together a few of our tried-and-true tips to help you begin to successfully build your startup.

Networking is key

Identify your professional community and engage with it. Nowadays, you can successfully and efficiently network via social media platforms like LinkedIn. While this is a manageable day-to-day tool, we also suggest taking advantage of professional networking events for face-to-face interaction.

Networking also entails meeting the right people who can help you launch your business. The benefit of having strong connections is that they can turn into powerful allies.

When you interact with people who are already running a successful business, you may be able to gain a better understanding of the funds and number of shares to authorize that can satisfy investors, and you can offer to your future employees.

Find a balance

A startup is very demanding and can eat up the bulk of your time; however, it is important for you to give yourself (and your employees) a break. There is a reason Google’s offices have Ping-Pong tables, basketball courts and rock climbing walls. These activities help people expand there minds and think outside the box.

Moreover, bonding with employees outside the office can be essential to a company’s success. Mutual respect outside the office will transfer to exist inside the office and ensure that everyone feels safe in the work environment.

Ask questions

Even though you’re the boss, don’t feel like you need to have all the answers right away. Ask questions to people you trust.

People love to share their own experiences. Particularly at Cleary, we are happy to help with your startup questions and provide information about the various types of coverage that would be most beneficial for you.

The Ins and Outs of A Successful Employee Benefits Strategy

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Most business owners prefer to recruit employees with proven talent in their fields. This instinct often encourages entrepreneurs to hire top talent quickly, offering competitive salaries and benefits—especially for employees with specific technical skills that may result in direct growth for the company.

But is paying high always the way to attract the best employees? After all, no business can pay its workers more than the value added to the business. At least, not long term anyways.

In order to maintain an ideal benefits strategy, business owners should have a clear picture of the type of employee they want to hire, as well as a firm understanding of their business’ needs. They should also keep in mind that if the compensation level is perceived as low, it will negatively impact both talent attraction and retention.

Again, offering high benefits makes sense in situations where the skills and ability of an employee has a direct impact on the revenue and success of the business; however, for businesses focused on customer intimacy or operational efficiency, a high compensation may neither be affordable nor required. Here, employees make the most impact through process excellence, teamwork, service orientation and discipline—rather than through individual innovation.

It’s also important to customize a benefits plan based on how the employees perceive value. Owners should therefore have a clear understanding of the demographic of its employees (age, skill level, etc.). Making the plan tax-friendly and having the right mix of fixed pay and variable (performance) pay will also bolster a high-performance culture.

Have any questions? Feel free to contact a Cleary representative and we’ll help you build the best benefits strategy for your business.

Myth Busted: Entrepreneurs are NOT actually risk takers

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Entrepreneurs are often mislabeled as “risk takers,” while in reality the most successful ones make calculated and mindful decisions. This sense of purpose and deliberation comprise a few of the qualities that differentiate successful entrepreneurs from the average risk taker.

A risk takers’ biggest mistake is depending too much on chance. Too often, they lay everything on the line, and thus significantly fail, sometimes without the means to pick themselves back up.    

In our experience, the difference between a risk taker and an entrepreneur is that the latter create innovative ways to reduce risk. In fact, they actively avoid risk and are dedicated to planning every small step to achieve their goals.

Tell-Tale Qualities of a Successful Entrepreneur

Here’s a cohesive list of characteristics that make an entrepreneur successful:

  1. Ambition. They are always on the lookout for the next inspiration
  2. Effective manager of time. Many entrepreneurs are juggling multiple projects at once
  3. Delegation is key. They know that success doesn’t come alone
  4. Confident and self-assured. You’re taking a chance on yourself, so you better believe you can accomplish your goals.
  5. Socialable and well-liked. It’s a truth of the trade. You have to be the person other people want to work with.
  6. Thick-skinned. You will fail many times before you hit the jackpot.
  7. Creative thinker. Not every idea is original. Many entrepreneurs leverage an existing service or product, and make it better.
  8. Solid communicator. Wasting time because of poor communication is not a luxury an entrepreneur can afford.
  9. Knows when to step away. From the computer, from a project … a smart entrepreneur knows when to take a break and recharge.
  10. Proactive. No one will seek your service or product out in the beginning and it’s up to you to make your voice heard.

It’s important for any business owner to take these aspects into consideration—no matter what type of business you run. Keeping these tidbits in mind may help you become a better owner, leader and entrepreneur along the way.

3 Important Tips for Filing your Commercial Insurance Claim

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Whether the damage is small or large, tangible or not, any business owner in the process of filing a commercial insurance claim faces a good deal of stress. More time and effort is needed to maintain the business while repairs are negotiated with the insurance policy provider.

We encourage small businesses to take a look at policies every 2-3 years to ensure they’re properly covered. Prevention is also key: owners should evaluate possible threats to the business, develop recovery plans, and test those plans all in advance.

Scott Lacourse, a contributing writer for the Boston Business Journal, makes a crucial note in relation to small businesses:

“Many small businesses skip insurance altogether, or fail to get the coverage they need to cope with incidents like major flooding. Almost 40 percent of small businesses never reopen following a disaster, according to FEMA.”

The strength of this data demonstrates the importance of analyzing acquired insurance policies and minimizing the effects of destructive events. However, should an occurrence arise, we’ve put together three tips to help with your next (or current) commercial insurance claim:

Be attentive to coverage policy time periods

If a claim must be made, owners should take considerable care in filing the claim within the temporal parameters set by the insurance provider. Otherwise, extra costs and impediments may extend the amount of time for recuperation.

Below is a chart that outlines the time-based functions of certain insurance policies as they handle declared claims and actual occurrences.

If you have questions specific to your policy, contact your agent. However, rest assured that, as shown above, real occurrences (during the policy period) will most always be covered, “no matter how much later they are reported.”

Take inventory, record documents, and stay organized 

The evidence for a claim to be submitted needs to be kept together and controlled. Keeping track of all damage is crucial if these problems are to be resolved efficiently.

Some ways to organize include taking inventory of all materials affected, protecting all documents and copies that may be related to the incident, and even taking pictures or procuring a claim from the police (if the situation is applicable).

It also wouldn’t hurt to stay in touch and follow up with the people involved, especially your insurance adjuster.

Hire a loss management team

In the case of large claims, owners might consider hiring a loss management team.

A loss management team could consist of a professional loss specialist, legal expert, or forensic accountant who would help file the claim. Commercial insurance claims are of a legal nature, after all, and if business owners are not experts in this field, it could help to have someone who is on their side.

This decision, again, would depend upon the severity of the incident that caused the claim and if the owner would find such a support group financially feasible—as it would involve added costs.

Liability Insurance: What is NOT Covered

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Most corporations opt for some form of liability insurance, and small businesses are no exception. But if you’re new to the world of risk management, the first question to ask yourself is: what exactly is liability insurance?

General liability insurance – often referred to as commercial insurance – is best described as coverage for damages that the insured becomes legally obligated to pay due to bodily injury, property damage or personal and advertising injury arising from the insured’s premises, operations, completed operations and products. Essentially, for both personal injury and property damage claims, you are covered for related legal fees, costs and expenses.

Important aspects of running a business that is covered by this type of insurance include:

  1. The cost of legal defense and any settlement or award should an owner be successfully sued;
  2. Protection against any liability an owner would face as a tenant of damaged rented property.

Some policies can also cover misleading advertising claims, including libel, slander, and copyright infringement.

So what is not covered in your liability insurance plan? Below is a general list of items that are not included in this type of insurance, but will vary by policy.

Employee medical expenses

  • Damage to property owned by the business
  • Vehicles or employees injured in a company vehicle
  • Any damage or injury that involves a person in the company

To summarize, damages to anything owned by the business are not covered; that’s why liability insurance is called a “third party” insurance.

Tips for Selecting the Best General Liability Insurance for Your Business

Understanding the potential risks to your business is a fundamental way to begin this process, because the plan you might need really depends on the type of business you own.

For example, a building contractor faces much higher risks of injury and actual damage to his or her business than, say, a web designer’s business—simply due to the kind of work involved.

Once you have recognized your own business needs, the next step is to fully read the coverage policies. It may seem obvious, but it’s crucial to understand what certain agencies are offering in order to choose the best policy for you.

Something else to consider is the Business Owner’s Policy (BOP), a package deal that most often includes property, general liability, vehicular, and business interruption protection. This option streamlines the process and may cost less than purchasing multiple coverages from different insurers. Again, however, if your business has unique demands that are not covered by an umbrella policy such as the BOP, you may need to invest in additional plans.

If you have any questions regarding liability insurance policies, don’t hesitate to contact a Cleary representative. We’re here to help you protect your business and narrow down the coverages that your company truly needs.