NAPEO
PEO industry professionals are in a unique position to experience a feeling of déjà vu around this time of year. That’s because we’re probably following a specific cadence that has been built from years of experience around the usual end-of-year/beginning-of-year processes that apply to our own organizations as well as those of our customers. You likely end up asking yourself, “Didn’t we just do that?” more than once
Many employers carry employment practices liability insurance (EPLI), which provides cost-of-defense and other insurance coverages to employers for covered employment claims. EPLI claims, such as discrimination, harassment, and wrongful termination, can be extremely costly and time-consuming to defend. As a result, proactive employers should seek ways to reduce the number of EPLI claims to cut down on business costs.
A successful business is dependent on positive employee relations and as our nation battles racial inequity, it is crucial to understand the value of diversity, equity, and inclusion (DEI) in the workplace. In trying to keep up with this progressive trend, it behooves any business to work on its DEI strategy. Many business owners would be surprised to learn that DEI is imperative for success and growth. The influential byproducts of DEI include increased overall company performance, positive employee morale, innovation, and financial gain. According to an article in Forbes Magazine, “Companies with a strategic focus on diversity produced higher revenue based on innovation in comparison to companies that did not have the same strategy.”
Uber. Netflix. Airbnb. They all took business-as-usual ideas—taxis, video rentals, hotel stays—and turned them on their heads. They were all disruptions we welcomed because they fixed friction in our lives, unless of course you were a taxi driver, Blockbuster, or hotel chain. Disrupt or die became a critical shift for all industries, and it became crystal clear that digitally enabled, diverse experiences were the future.
