3 Ways Employee Policies Can Protect Your Business

K Prinz

By Kristen Prinz, Founder and Managing Partner of The Prinz Law Firm

A study by specialty insurer Hiscox was recently published finding that U.S.-based companies have at least an 11.7 percent chance of facing an employment law charge. The study claims that the average cost for small and mid-sized businesses to defend these claims is $125,000. That’s a lot of money. It makes having effective employee policies all the more important.

On November 16, 2015, at 1:00 pm CST, I will be presenting the webinar 10 Employee Policies that Minimize Business Risk for WIPP and the WBDC. Participants will learn about 10 policies that can help businesses avoid the $125,000 average. Here are three ways that these polices can help protect your business:

  1. Address claims before they become lawsuits.

Employee policies can provide employees with an internal method to resolve a potential claim. Businesses can use policies to encourage and require that concerns about discrimination, harassment or even wage issues be reported. Knowing the concerns of your employees puts an organization in a much better position to swiftly resolve an issue that could otherwise become a lawsuit.

  1. Show the government your business is committed to compliance.

Having anti-discrimination and anti-retaliation policies shows the EEOC that your business has taken a stance against discrimination and retaliation. Similarly, an effective time keeping policy can show the DOL that your business is taking appropriate steps to comply with wage laws. These policies can bolster a defense when an agency audits your business or investigates a claim.

  1. Create a positive workplace culture.

Your business shouldn’t just have policies; it should abide by them and enforce them. Having well publicized policies that demonstrate your business’s dedication to a positive workplace is one of the best ways to deter employment law claims. Employees are far less likely to sue an employer they believe supports and values them.

To learn about the 10 policies that can help your business (i) address claims before they become lawsuits, (ii) show the government your business is committed to compliance, and (iii) create a positive workplace culture, register now for the WIPP and WBDC webinar 10 Employee Policies that Minimize Business Risk.

Millennials in the Workplace – What Are Your Thoughts?

Millennials are the largest workforce group since they surpassed Generation X this year and the U.S. Bureau of Labor Statistics preMillennialsdicts they will make up 75% of employees by 2030. Therefore it is no surprise that many reports and articles have been dedicated to the topic of how to get along with and manage this generation at work.

From hiring practices to benefit packages and work-life balance, expectations of this generation are widely different to the ones of Baby Boomers or Generation X.

Towan Isom is a President and CEO of Isom Global Strategies where millennials make up more than 50% of all employees in her company. Since she started the company 15 years ago in her basement, she has accumulated extensive experience and knowledge working with different generations of workers. She shares her insights and often speaks on how to be successful with this intergenerational workforce and on managing millennial employees.

In the end of September, Towan will speak at a conference on Millennials in the workplace, and she offers a unique opportunity to make your insights to be heard. By responding to the quick survey your professional opinion on working with millennials will be shared with her audience and presented in a case study afterwards. The conference will be also recorded and available on Isom Global Strategies website few weeks after the event.

Towan will also share outcomes and her professional views with us here in a guest blog after the conference.