Challenges of Managing Certificates of Insurance for Homebuilders

Homebuilders are in the business of trust, relying on their good name to grow their business as they build new homes for families. But while they’re focused on the specifics of developing a neighborhood, the administrative challenges can sometimes derail operations. In particular, managing and tracking certificates of insurance can be a big issue. Subcontractors come and go, and when people are focused on delivering results on deadline, administrative tasks can fall through the cracks, putting companies at risk when they least expect it. “Certificates of insurance, on a large scale, impact the environment for commerce to occur,” says Lee Roth, vice president of Ebix BPO. “People need to know there’s protection should there be a need for it down the road.” Here are some of the issues that can arise when homebuilders manage COIs. Gaps in Coverage In other industries, when companies collect certificates and separate endorsements, the additional …

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Family-Friendly Work Options All Employees Can Use

Some companies like to tout themselves as being family-friendly, but are they really if their family-friendly policies only benefit married couples or employees raising children? “Family-friendly work options are not only for employees with immediate family,” says Eileen Timmins, Ph.D., founder of Aingilin. “Having diversity of options for the diverse workforce family is the key.” “Family” doesn’t necessarily refer to only spouses and minor children — it can encompass domestic partners, stepfamilies, aging parents and close aunts or uncles. Truly family-friendly policies also apply to singles and employees without children. Paid time off is one option all employees can use. “PTO is an option, but many more companies are using ‘take what you need’ time,” Timmins says. “An employee takes the time they need for vacation or sick time. It’s similar to an honor policy — if it becomes excessive, then the employer will approach the person and see if …

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Train to Retain: How to Develop High-Potential Employees to Keep Them

Employee retention is essential for companies looking to build their businesses and boost their bottom lines. But retention alone isn’t the secret of success. High-potential employees who are in line to move up through the ranks of management need to be nurtured, trained and developed. As high-potential employees advance, they will be the ones to mentor and groom yet another generation of your company’s leaders. High-potential employees are highly motivated to grow, develop and advance, and if you don’t take steps to meet these needs, they’re likely to seek work with companies that will. These employees are the ones who will create the innovations and systems that will propel your business through the coming decades, so it’s essential to your company’s future to help them advance their skills and their careers — and to give them reasons to stay with you as they do. Your investment in your employees’ futures …

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How to Decide Which Voluntary Benefits to Choose This Open Enrollment Season

If your company offers a multitude of voluntary benefits options, congratulations. These offerings are a valuable benefit that can make your life easier. Still, the open enrollment process and all the paperwork that comes with it can sometimes feel like a hassle. How do you decide which benefits are worth it? Here are a few tips to help you choose the voluntary benefits that will work best for you and your family this open enrollment season. Calculate Costs and Benefits Most voluntary benefits by themselves are relatively inexpensive and are less so when you purchase them through an employer rather than on the open market. That said, anything you pay for but don’t need is a waste of money. To help you determine which benefits are smart buys for your unique needs, Aoife Quinn, founder of Quinn HR Consulting Group, suggests a two-pronged approach: Look at the services you’ve needed …

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