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BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

5 Employee Benefits You Are Legally Required to Provide

Running a company is no easy task, especially in our ever-changing business landscape. The law is constantly evolving, and with the myriad of options for providing employee benefits, it can be difficult for business owners to keep up! Between health benefits, tuition reimbursement, paternity leave, and retirement savings plans, how are business owners supposed to keep track of what benefits are required by law?

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4 Steps for 401 (k) Automatic Enrollment

In 2006, the Pension Protection Act enabled employers to automatically enroll their employees in a 410(k) plan. Since then, businesses have increasingly been automatically enrolling their new team members into 401(k) plans during their onboarding process.

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Six Misconceptions That Could Hurt Your Financial Future

There are six common misconceptions that business owners make that can compromise their company and personal finances. Each of these highlight common missteps in running the financial side of your business, which in turn can affect your company and your future.

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Benefits Communication 101

Are your employees familiar with the benefits that your company provides? Is there ongoing communication with your employees throughout their employment, or is it something that is only ever discussed during the onboarding process? Do you have a benefits communication plan in place to keep employees informed about updates or changes to their benefits? Do your employees know enough about their benefits to keep them from being lured away by more competitive offers?

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6 Qualities of a Top-Notch Business Exit Planning Team

Exit planning is complex. Between establishing your exit goals and transferring your business, you’ll attempt to build business value, find an appropriate successor or buyer, navigate taxes, and keep your key employees happy enough to stick around, just to name a few tasks. With so many considerations and activities surrounding your business exit, it's smart to consider creating an advisor team.

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Network Diagnostics II: Defending Your Company's Cyber Security

Data is everywhere. We store it in our internal business systems and in the cloud. We collect it from our clients and share our data with business partners. Leaders need data, value it, and are able to amass it. We carry data with us and leave a digital footprint every day. Technology providers help us store it forever and share it globally. In the data breach era, leaders face greater risk if they fail to protect data throughout its lifecycle.

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Maintain Momentum in Your Business Exit Planning

Planning for major events often falls victim to procrastination. Whether it’s planning your next career move, a long vacation, or your business exit, it’s easy to put off progress, thinking you'll wait until you have more free time. While planning a business exit should never take over your entire life, once you've decided on your exit goals, you'll see greater success when you keep your momentum going instead of stopping and starting your activities.

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The Benefits of Understanding Your Workforce

As a business leader, you have the power to support your employees in their quest for better health by implementing some proven methods that promote healthier employees, which means lower healthcare costs, less absenteeism, and higher productivity.

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7 Steps to Successful Business Exit Planning

Eventually, whether by your choice or circumstances outside of your control, you will end up exiting the business you worked to create. And research proves that you're far more likely to exit on your terms and as you wish if you work with an exit advisor who can walk you through the exit planning process. Here is a snapshot of the seven-step process we use at SWBC. To start preparations for your exit, consider how you'd proceed through each step.

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Network Diagnostics Part 1: How Strong is Your Company's Cyber Security?

Cyber attacks and data breaches have become a recurring trend in today’s society, and the most valuable currency is customer data. In the business world of sensitive customer records and data, virtually all consumer and company data is prized by hackers and worth protecting for your business.

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