You would not sign a contract without reading it first. And this means a lot of reading if you are a contractor. So, how are you managing this review process? Do you understand all the implications a contract could have on the future of your business?

Most companies will say they review all contracts with the help of their attorney. This is the optimal path, but we need to throw a wrinkle in it. When was the last time you involved your insurance broker in that review process?

You trust your insurance broker to review a key contract you utilize every year: your insurance policy. They ensure your company’s risk is properly transferred to the insurance carrier using the most up-to-date coverages, endorsements and enhancements available in the market. But when it comes to reviewing and updating insurance requirements in a contract, the insurance broker is often left out of the picture. Now your attorney is forced to be the legal expert AND the insurance expert.

The modern contract review process involves a meeting between your attorney and insurance broker on an annual basis at a minimum. This collaboration helps ensure you are properly addressing all risks you face before you sign a contract.

Let’s look at some common scenarios in which this updated contract review process could have prevented significant losses.

Today we’re sharing insight from guest blogger Don Wood, CEO and President of 80/20 Inc. We hope you enjoy Don’s wisdom and perspective.

“Leadership is the capacity to translate vision into reality.”

This quote, by Warren Bennis, summarizes one of the most distinguishing features of a leader. To achieve success and growth a vision is imperative. Really. Turning that vision into a reality takes leadership.

In March 2013, CVS announced a new corporate wellness program which posed a choice to employees participating in their health plan: complete a free health screening and wellness review OR pay $600 in additional health insurance premiums each year.

This type of incentive strategy is not uncommon. Many employers offer premium discounts or other incentives to employees who participate in wellness programs. However, CVS’s plan was publicly criticized with concerns over patient privacy. Allegations of corporate coercion dominated the media limelight. Though the plan was offered as a voluntary incentive, public perception viewed the $600 as a penalty rather than a reward.

Controversy aside, one key takeaway remains: employers are serious about cracking down on health costs and they are engaging employees for answers.

Each year OSHA releases the 10 most frequently cited standards.

Are you taking proper precautions to avoid these hazards in your facility?

Today we’re sharing insight from guest blogger Jerry Scott. We hope you enjoy Jerry’s wisdom and perspective.

“Anyone can become angry – that is easy. But to be angry with the right person, to the right degree, at the right time, for the right purpose, and in the right way – this is not easy.” - Aristotle, The Nicomachean Ethics

Businesses must approach disaster planning as a probable scenario. Approaching it as a possible scenario is not enough. There are several points of impact resulting from a disruption in power, from (the obvious) loss of connectivity, to (the physical) damaged equipment, or (the elusive) reputation damage. Businesses lose more than just power when an outage occurs. Disaster preparedness involves a planning process resulting in both external and internal communications that help a business continue operating as usual, no matter the situation. To facilitate the planning process, ten steps are discussed, beginning with the “Analysis Of Potential Threats,” and concluding with the ever-important “Recovery Phase.”

Fall is my favorite time of the year. The crisp temperatures and awesome views of the changing leaves are just a couple of reasons. Fall also brings the month of October, which happens to be National ESOP Month. It might not technically be as good as Christmas, but October is a great month for us at Gibson! We celebrate our GESOP throughout the month.

Yes, we celebrate our GESOP in the other months as well, but typically we have one ownership-related activity each month. In October, we have an ownership activity each week. One week, we’re bringing in Dairy Queen treats with themes of “How Sweet It Is To Be An Employee Owner” and “It’s A Treat To Work At Gibson”. Another week, we’re playing GESOP bingo, where all winning cards will go into a drawing for a really cool prize.

Today we’re sharing insight from guest blogger Ron Kitchens, chief executive officer of the Southwest Michigan First Group of Companies. Tim Leman is taking time off from writing his weekly blog to work on an exciting project focused on culture and leadership. We hope you enjoy Ron’s wisdom and perspective.

Always take a chance on better, even if it seems threatening. - Ed Catmull

Success is one of the most dangerous things that any organization can experience because once you’ve tasted success, you become more risk averse. You don’t want to give that up. You don’t want to risk failing anymore because now you know how awesome it feels to be successful. So, what do you do about it? You have to create systems that constantly challenge the status quo.

Employee Engagement. Company Culture. Establishing a positive company culture matters. A company’s culture can be an incredible asset…but if not given the proper attention, it can become your greatest risk.

Culture is the values, beliefs, and the norms of a company. It’s not your policies and procedures; it’s the way you do things. It has many facets. Safety, employee wellness, employee wellbeing, and even the overall organizational health. And in order to establish a positive culture, you must engage your company leaders AND your employees.

We understand the steps to fire prevention and protection for our home. We teach our kids the importance of smoke detectors and why they need to be checked regularly. We establish an escape plan and determine a meeting place. In school, our kids learn what to do and where to go in case of a fire. And they participate in numerous drills.

But what about our workplace? Are we properly prepared to handle a fire? Have we trained our employees and practiced our action plan?

Just as with your family or at school, taking time to plan BEFORE a fire can be critical to survival. Here are four basic steps to help you create a pre-fire plan