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Managing payroll is one of the most complex and time-consuming responsibilities for small and medium businesses (Small and Mid-Sized Businesses). From calculating wages and tax withholdings to ensuring compliance with ever-changing regulations, payroll demands significant attention and resources.

By outsourcing payroll to an experienced provider like FullHR, your business can streamline operations, mitigate risks, and focus on growth and profitability.

Save Time and Resources

One of the greatest advantages of outsourcing payroll is the time it saves. Payroll isn’t just about issuing paychecks—it involves tracking work hours, calculating taxes, managing benefits deductions, and staying updated on labor laws.

For many Small and Mid-Sized Businesses, these tasks consume hours each pay period, diverting attention from strategic business functions. By outsourcing payroll, business owners and HR teams can reallocate their time to key priorities like employee training, customer service, and company expansion.

Ensure Compliance and Minimize Risk

Tax laws and employment regulations constantly evolve, making compliance a challenge for Small and Mid-Sized Businesses. Keeping up with federal, state, and local tax rates, overtime rules, and other payroll mandates can be overwhelming. Payroll errors can lead to hefty fines, legal issues, and reputational damage.

With FullHR, your payroll is managed by experts who stay ahead of compliance requirements, reducing the risk of costly mistakes. Our integrated payroll services work seamlessly with human resources management, benefits administration, and compliance systems to safeguard your business against financial penalties and legal issues.

Improve Accuracy and Reliability

Payroll mistakes can lead to employee dissatisfaction, tax penalties, and legal complications. Given the complexities of tax regulations and employee classifications, even minor errors can escalate into significant problems.

Outsourcing payroll to specialists minimizes these risks. FullHR’s payroll solutions are designed for precision and reliability, ensuring employees are paid correctly and on time, every time.

Access Advanced Payroll Technology

Managing payroll in-house often requires investing in expensive software and ongoing staff training. Outsourcing allows Small and Mid-Sized Businesses to leverage cutting-edge payroll technology without these financial burdens.

FullHR’s payroll platform integrates with a full suite of HR services, enabling businesses to automate payroll processing, track attendance, generate reports, and access real-time data—all from a single, user-friendly system. This technology-driven approach enhances efficiency and accuracy in payroll management.

Reduce Costs

Handling payroll internally can be costly when factoring in software expenses, staff salaries, and training. Outsourcing payroll eliminates these overhead costs while providing expert-level service at a fraction of the price of maintaining an in-house team.

Additionally, avoiding compliance-related penalties can result in significant long-term savings. FullHR helps businesses maximize efficiency and minimize financial risks associated with payroll management.

Scale with Your Business

As your company grows, payroll requirements become more complex. Outsourcing offers the scalability and flexibility needed to accommodate expansion, whether you’re hiring new employees, opening new locations, or introducing additional benefits.

FullHR’s payroll services adapt to your evolving needs, seamlessly integrating with other HR functions to ensure smooth transitions as your business scales.

Simplify Payroll with FullHR

Outsourcing payroll is a strategic move for Small and Mid-Sized Businesses seeking to reduce administrative burdens, enhance compliance, and boost operational efficiency.

FullHR’s integrated payroll solutions, combined with our comprehensive HR services, allow businesses to stay focused on growth and profitability while we handle the complexities of payroll and compliance.

Why wait another pay cycle?

Contact FullHR today to discover how our payroll solutions can benefit your business.

Starting a new business is both an exciting and challenging endeavor, and while the potential for success is high, the risk of failure is equally significant.

Entrepreneurs often focus on product development, marketing, and customer acquisition, but one crucial aspect that many overlook is insurance.

Ultimately, insurance is essential for safeguarding a startup’s financial future and protecting you from unforeseen risks. To mitigate these risks, startup entrepreneurs should consider several types of insurance coverage.

  1. General Liability Insurance

General liability insurance is a must-have for any business, including startups. It protects against claims of bodily injury, property damage, or personal injury that occur on your business premises or due to your operations.

For example, if a customer trips and falls in your office, or if your product causes harm to a customer, general liability insurance covers the cost of legal fees and settlements. This type of insurance is key to maintaining your business’s reputation and ensuring that a single incident doesn’t lead to financial ruin.

  1. Professional Liability Insurance

Also known as errors and omissions insurance (E&O), this coverage is designed for businesses that provide professional services or advice.

If a client claims that your services caused them financial loss, professional liability insurance can cover the legal costs and potential damages.

This is especially important for consultants, marketers, designers, and anyone who offers expertise to clients, as it protects against claims of negligence or mistakes in the course of business operations.

  1. Product Liability Insurance

For startups that manufacture or sell products, product liability insurance is a must. This coverage protects against claims that a product caused harm or injury to a customer.

No matter if it’s a defective product, an issue with packaging, or inadequate instructions, product liability insurance helps cover the costs of legal fees, settlements, and damages.

Ultimately, it’s essential to ensure that your products meet safety standards and that you’re covered if something goes wrong.

  1. Workers’ Compensation Insurance

As your startup grows, you may hire employees to help run your business. As such, workers’ compensation insurance is required by law in most states.

This type of insurance covers medical expenses and lost wages for employees who are injured or become ill while on the job. Workers’ compensation protects your employees and minimizes the risk of lawsuits related to workplace injuries.

Also know that even if you don’t yet have employees, workers’ compensation can provide protection for yourself if you are injured while working in your business.

  1. Commercial Property Insurance

Commercial property insurance covers your business property—whether you own or lease a space.

This insurance protects against losses caused by damage to your building, equipment, inventory, or supplies due to incidents like fire, theft, vandalism, or natural disasters.

For startups that rely on physical assets, such as offices, warehouses, or storefronts, this insurance can safeguard against financial setbacks caused by unforeseen events.

  1. Business Interruption Insurance

Even with proper planning, unexpected events can disrupt your operations (just think of what the pandemic did to businesses—big and small—across the country).

Business interruption insurance covers the loss of income that occurs when your business is forced to temporarily close due to circumstances like a fire, natural disaster, or equipment breakdown.

This insurance will address operating expenses, such as rent and payroll, while your business is closed. It confirms that your startup can recover and resume normal operations without significant financial loss.

  1. Cyber Liability Insurance

In today’s digital world, cyberattacks and data breaches are growing concerns for businesses of all sizes.

Cyber liability insurance protects against losses resulting from cyberattacks, data breaches, or other online threats.

If your startup stores sensitive customer data, handles financial transactions, or operates online in any capacity, you should carry this type of policy. It helps cover costs related to data loss, legal fees, notification to affected customers, and damage to your business’s reputation.

Why You Need an Insurance Specialist

As a startup entrepreneur, securing the right insurance coverage is essential to protect your business and its future.

Don’t leave your company’s financial well-being to chance—partner with an insurance specialist like the professionals at FullHR. We can help you identify your risks and craft an insurance strategy that meets your needs. Let our team guide you through the process, ensuring your business is adequately protected against the uncertainties of the entrepreneurial world.

Is your office culture helping or hindering productivity? Too often, companies chase trends or fall for myths, ignoring the proven strategies that truly drive success.

With debates swirling around remote work, office setups, and the role of technology, it’s easy to get off track about what truly drives employee performance. At FullHR, we’ve worked with organizations of all sizes to cultivate flourishing office cultures, and here’s what we’ve found: productivity isn’t about ping-pong tables or micromanaging attendance. It’s about creating an environment where employees feel empowered, engaged, and valued.

Let’s debunk some common myths and explore five key traits of a thriving office culture.

  1. Trust Trumps Oversight

Myth: Productivity requires constant monitoring of employees.
Reality: Productivity flourishes when trust is the foundation of workplace relationships.

Contrary to the belief that remote work stifles collaboration and efficiency, studies show that employees who feel trusted to manage their time and tasks are more engaged and productive. Instead of relying on surveillance software or rigid schedules, cultivate a culture of accountability and autonomy. Give employees clear goals and the freedom to achieve them in ways that work best for them.

  1. Collaboration Doesn’t Require a Cubicle

Myth: Real collaboration only happens in person.
Reality: Collaboration increases when supported by intentional communication and the right tools, regardless of location.

Stop blaming remote work for communication breakdowns. The issue isn’t where people work but how they’re set up to connect. Thriving office cultures use technology to bridge gaps, foster real-time collaboration, and ensure team alignment. Hybrid meeting solutions, virtual brainstorming sessions, and asynchronous tools like Slack or Microsoft Teams enable employees to work together seamlessly.

  1. Well-Being is a Business Strategy

Myth: Perks like gym memberships and snacks are enough to keep employees happy.
Reality: True employee well-being requires a holistic approach.

A great office culture prioritizes mental, physical, and emotional health. Flexible working hours, access to wellness programs, and a genuine focus on work-life balance contribute to happier, healthier employees. Leaders should model these behaviors, reinforcing that downtime isn’t a luxury—it’s a necessity for sustainable productivity.

  1. Recognition Beats Competition

Myth: Productivity is driven by internal competition.
Reality: Teams thrive in environments of mutual support and recognition.

Employees perform better when they feel their contributions are valued. Instead of promoting a competitive atmosphere, implement programs that celebrate individual and team achievements. Peer-to-peer recognition platforms, shoutouts during meetings, and transparent feedback channels can create a culture of appreciation that drives results.

  1. Leadership is the Catalyst

Myth: Culture is organic and doesn’t need management.
Reality: Great cultures are nurtured by intentional leadership.

Leaders play a critical role in shaping office culture. They set the tone by embodying company values, encouraging open dialogue, and making inclusivity a priority. Leadership training and ongoing support for managers ensure that they can inspire and guide their teams effectively.

Creating a Culture that Drives Results

Thriving office cultures don’t happen by accident—they are built through deliberate actions and a clear focus on people, not just policies. Productivity myths, especially those scapegoating remote work, distract from what really matters: building trust, collaboration, and well-being.

By adopting these five traits, organizations can create environments where employees and businesses thrive together. Want to know how your organization stacks up? Contact us at FullHR for a culture assessment today.

Monday, 02 December 2024 09:30

Tops Tips for Open Enrollment Communications

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The window for the open enrollment period is ever shrinking—with December 15th being the last day to enroll or change plans for coverage starting January 1, 2025, and January 15th serving as the last day on the calendar for enrolling in or changing a plan with a February 1st start date.

This is a critical period for both employers and employees, which makes clear communication practices that stress the urgency of this time of year even more important. Employees must be able to make informed decisions about their benefits.

As such, here are some top tips to follow at your company to ensure communications are paid attention to and benefits engagement is maximized.

Minimize Confusion

As the clock ticks on the end of open enrollment, make sure your communication calendar still delivers a steady flow of information, and stress last-minute reminders.  Also, encourage employees to approach your HR team if they are unclear about benefits information and have questions. Time might start to feel limited, but you don’t want employees to feel rushed or frantic.

Simplify Complex Information

Benefits information can feel overwhelming to many employees, especially when it involves making coverage changes, understanding premiums, or truly absorbing the differences between plan options. Therefore, break down the information into bite-sized, digestible pieces. Use bullet points, infographics, or short videos to explain key points, including:

  • What’s new in the 2025 benefits package?
  • Deadlines and steps for enrollment.
  • FAQs about coverage options.

Clear, concise, jargon-free communication will enable employees to understand their options and minimize the chance that costly mistakes are made.

Leverage Varied Communication Channels

Employees consume information in different ways, and your approach to connecting with them on open enrollment shouldn’t be one-size-fits-all. Use a mix of communication channels to guarantee everyone is reached in time. Consider the following:

  • Email campaigns for detailed updates and reminders.
  • Intranet portals for easy access to benefits guides and resources.
  • Text messages for quick reminders.
  • Live or recorded webinars to promote interactive Q&A.
  • Printed materials for employees who prefer physical copies or don’t have digital access.

Truly, by leveraging varied communication platforms, you ensure a multi-generational approach to boosting benefits enrollment at your company.

Evaluate and Improve Open Enrollment Each Year

The open enrollment process should be tweaked and modified from one year to the next and should never remain static. Always welcome employee feedback and seek to improve processes to ensure everyone feels accommodated and happy with the open enrollment season.

The team at FullHR would love to consult with you to learn what open enrollment challenges you have faced, and help you make the process become more efficient. Reach out to us today.

Friday, 25 October 2024 10:46

Take Stock of Your Succession Plan

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Succession planning is mission-critical for companies of all sizes and spanning all industries. Simply put, a succession plan ensures that, when an important decision-maker or senior-level leader leaves the company, your organization isn’t caught flat-footed. A succession plan allows you to identify key roles, to recognize promising new talents, and to ensure future leaders are well-prepared to assume new roles as they become available.

Succession planning isn’t a one-and-done kind of activity. On the contrary, it’s wise to review your organization’s succession plan on a regular basis, and to revise it as necessary.

How to Evaluate Your Succession Plan

As you try to take stock of your succession plan, here are a few questions that may help you to think critically, analytically, and systemically.

1) Does your succession plan account for each member of your leadership team?

Succession planning probably doesn’t need to encompass your entire team; for example, you are unlikely to need a succession plan for an entry-level sales rep. But neither is succession planning meant to encompass the CEO only. Every leader or executive should have a succession plan in place, ensuring continuity for if and when they leave the organization.

2) Are you preparing your up-and-coming leaders?

Your plan should help you to identify potential leaders, and to ensure they’re ready for success before they are promoted. Professional development is a critical aspect of any good succession plan.

3) Do your leadership candidates know they’re being considered for advanced positions?

It’s difficult to prepare future leaders for success without actually communicating with them about the opportunities that lie before them. Make sure your succession plan includes a communication plan.

4) Are you hiring to get a diversity of views, or just to replicate the boss?

A common succession planning error is looking for a successor who is, for all intents and purposes, just a clone of the current boss. Make sure you’re recruiting and hiring with the goal of bringing in a wide range of mindsets and perspectives. Your organization will be richer and more robust because of it!

5) What tools are you using to evaluate your talent pool?

From CVs to 360 performance reviews, there are numerous tools available to help you size up future leaders. Are you using all the tools and resources at your disposal to ensure an informed decision?

6) Are you challenging your up-and-coming leaders?

One way to ensure your top talents are ready for a promotion is to challenge them with new projects or expanded scopes of responsibility. Rather than allowing anyone to “fail forward,” provide employees with opportunities to prove themselves.

Is Your Succession Plan Sufficient?

These and similar questions can help you appraise your current succession plan. If you’d like to talk more about the role of HR in ensuring a viable succession plan, reach out to the FullHR team at your convenience!

Friday, 20 September 2024 02:21

How to Protect Your Middle Management

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At larger companies, middle management serves an important function. Simply put, middle managers play a vital role in liaising between executives and entry-level employees, ensuring strategic alignment and operational efficiency.

Lately, studies have shown that middle management is actually in jeopardy, with more and more employees eschewing these mid-level positions. Many reasons have been given for the decline of middle management, including workplace burnout, inadequate work-life balance, or a lack of clarity about expectations.

All of this raises a question: What can HR leaders do to ensure that their middle managers are well cared for? We have a few suggestions.

Taking Care of Middle Management

Consider a few guidelines to keep your middle managers happy and engaged.

Reduce Reporting Requirements

One thing that quickly drains time and energy from your middle managers is the need to file seemingly endless operational reports, sharing their intel with executives on a monthly or even a weekly basis. Consider cutting back on reporting requirements (or using AI to automate some of your reports), or even getting rid of the reports that don’t really get read. Free more time for managers to interact with their team members or to do meaningful creative work.

Provide More Autonomy

Nobody likes to be micromanaged, and that includes the people you have in middle management positions. One way to reduce micromanagement is to come up with a clear set of guardrails: Determine, as a department or as a company, which areas require more oversight, and which areas can accommodate more freedom and independence.

Allow Middle Management to Air Their Concerns

Something else to consider is that many middle managers feel like they lack a safe space to share their fears, struggles, or concerns. Make sure your middle managers know where they can turn when they need to process or troubleshoot issues, without fear of finger-pointing. Make sure the lines of dialogue remain open and unencumbered.

Explain Why Their Roles Matter

The “mushy middle” sometimes struggles to identify their import in the workplace. Provide middle managers with regular reminders of how their role fits into the big picture, and how their daily activities promote team goals and core business objectives. Do everything you can to keep middle management from feeling like they’re just doing “busywork.”

Provide Training That Makes a Difference

While nobody likes wasting time in training sessions that feel pointless or disconnected from daily realities, everyone wants to feel supported in their professional development. Provide opportunities for your middle managers to get additional training and collect feedback to ensure the sessions offered are actually meaningful.

Safeguard Middle Management

The bottom line: Employees who work in middle management play an important role in keeping your company running smoothly and effectively. Protect these important positions however you can. And with any questions, reach out to FullHR directly.

Monday, 12 August 2024 10:18

Why Employee Happiness Matters

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Most businesses place a big emphasis on maintaining happy customers… and rightfully so. But what if having happy employees is just as important?

The argument for employee happiness goes something like this: The only way you can provide a really rich and satisfying customer experience is through team members who genuinely like what they do and see the value in helping to achieve broader organizational goals. An employee who is disgruntled is seldom going to go the extra mile to serve their customers joyfully and enthusiastically.

In other words, promoting employee happiness can lead to customer happiness. And that’s just for starters.

The Benefits of a Happy Employee Base

Consider a few additional reasons to prioritize the happiness of your team members.

Enthusiasm is contagious. One reason to focus on happy customers is that doing so can help you convert your customers into brand advocates. When your team members use enthusiastic and emotive language to describe the organization they work for, it’s much easier for their love and passion to seep into the way customers describe the organization, particularly to their own family and friends.

Valued employees = valued customers. If your employees are genuinely happy in their day-to-day work, that’s a pretty clear indicator that they feel valued. And only employees who feel valued can help customers feel valued.

The way you treat employees affects how employees treat customers. This is sort of a variant of the Golden Rule: Do unto your employees how you would have them do unto customers and clients. The way you treat the people who work for you provides them with a model for how they should treat the folks they interact with day in and day out.

Happiness helps you sell your brand values. Another angle to consider: If you can’t sell your own people on the value or the greatness of your brand, you shouldn’t expect to sell it outside, either. Learning how to translate your organizational vision into real satisfaction starts with your employees, then extends out to your customer base.

Happiness and engagement go hand in hand. Employee happiness is not quite the same thing as employee engagement, but the two certainly go hand-in-hand. The employee who feels genuinely happy about their work is more likely to be detail-oriented, to invest in excellence, and to do everything with a good attitude.

Be Intentional in Cultivating Happy Employees

It’s not uncommon for businesses to say that customer happiness is their #1 priority. While having happy customers is obviously desirable, this may be an example of putting the cart before the horse. Working to ensure your team members are happy may be paramount. And that’s an area where HR can show tremendous leadership and initiative.

Questions about the role HR can play in cultivating employee happiness? We’d love to chat with you further. Reach out to FullHR any time!

There have always been challenges with rallying your employee base around a shared vision or a common set of values. Those challenges have been exacerbated by the era of hybrid work, with fewer and fewer companies having their full personnel in the same geographic location each day. When your employees are working remotely, at least part of the time, it presents some real obstacles to culture-building.

What, if anything, can HR leaders do to ensure a strong sense of culture for their dispersed, decentralized teams? In this post, we’ll share a few ideas.

Why Culture Matters

First, it may be helpful to know why building culture amongst a decentralized workforce even matters.

There are a number of benefits to robust culture-building, but we’ll focus on just two. First, the lack of a shared culture can make it more difficult for employees to find common ground for communication and collaboration, which may result in a less effective, less productive team.

Second, culture is a major factor in employee satisfaction and loyalty. Your team members will be more likely to commit to your company if they feel like they are part of something bigger than themselves. In this way, a strong culture can help you minimize turnover.

Creating a Process for Centralized Culture

With that said, how can HR teams create a culture in which even remote and hybrid workers can thrive? Consider a few suggestions:

  • Introduce values early on. Your employees shouldn’t be hearing about the company culture and values for the first time when they’ve been on the job for a few months. Instead, you should introduce these principles during the recruiting process, sharing your cultural touchpoints with potential hires and asking them for their reactions.
  • Improve the onboarding process. The onboarding process itself offers ample opportunity to expose new employees to your company’s values. For example, providing chances to meet key leaders, and to discuss the company culture in a one-on-one setting, can be huge.
  • Provide clarity from day one. Make sure every new hire is provided with a written statement of your culture and values, and that you connect the dots between the culture and their particular role. Ensure that each employee knows from the outset how their work contributes to the big picture.
  • Plan ahead. As you bring new employees into the fold, be planning ways to engage with them beyond the first few weeks. Create a routine of team-building events (even if they are remote), check-ins, and cultural refreshers that extend beyond the initial 90 days of employment.

Create a Culture That Brings Employees Together

Even if your employees are working from different locations, a shared culture can unite them. Follow these guidelines to ensure your company culture remains central. And with any questions, reach out to FullHR directly.

Wednesday, 19 June 2024 14:07

Talking with Employees Who Are Underperforming

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Sooner or later, every manager encounters an employee who is talented and knowledgeable yet fails to meet workplace expectations. Initiating conversations with these employees can be difficult, and many managers feel ill-equipped to deliver negative feedback.

When handled appropriately, however, these conversations can not only improve relationships between managers and employees, but potentially result in significant improvements to the employee’s performance. Here are some tips to help guide these conversations

Tips to Talk with an Underperforming Employee

Set the Right Tone

When you first sit down with the employee, be clear and candid with them about the nature of the conversation. Demonstrate right from the get-go that you’re on the same team, and that the goal is for a constructive and collaborative discussion. Say something like: “My goal for this conversation is to have an open and honest dialogue, to provide clear feedback, and to work together on a plan for your performance development.”

Invite Self-Reflection

It’s often helpful to provide the employee with a chance for self-assessment. Ask them to take a moment to reflect on their performance, and to evaluate whether they have met their own personal goals and expectations. Also ask if they have anything they might wish they could change or improve.

Connect Performance and Goals

One way to motivate employees is to connect their current performance with their long-term career goals. For example, you might ask them to reflect on how their current role contributes to their professional development, or to inquire about the kinds of skills they hope to develop.

Provide Clear Feedback

When delivering constructive feedback, clarity and specificity are essential. Rather than speaking in generalities, offer some concrete examples of the issues or inefficiencies that you’ve noticed. Leave no room for ambiguity. Also make sure you seek comments from other leaders or managers, ensuring the feedback isn’t only coming from you. This makes it harder for the employee to blame you personally, or to assume it’s an interpersonal misunderstanding as opposed to a real issue with performance.

Demonstrate Vulnerability

Empathy goes a long way in these conversations. You can convey empathy by sharing relevant personal experiences. For example, if your employee struggles with organization, you can share about a time when you messed something up due to poor organization, then highlight some of the steps you took to address the problem.

Offer Positive Reinforcement

It’s also important to provide some positivity. Reiterate that you value your employee. Enumerate some of their strengths. And underscore your sincere desire for them to do well.

Be Clear About Expectations

Before you conclude the meeting, be very clear and deliberate about expectations moving forward. Ensure your employee knows the benchmarks you’ll be using to assess their performance improvement.

Ask Questions

Finally, provide the employee with a chance to weigh in on the feedback they have received. Often, this will lead to some healthy self-reflection and accountability. Also ask what steps they think they might take to better align their performance with the expectations you have provided.

Be Prepared to Coach Underperforming Employees

Managers must be ready to have candid conversations with employees who are struggling. These tips should provide the parameters for healthy feedback and effective coaching. With questions, reach out to FullHR at your convenience.

No matter what kind of business you’re in, you need insurance coverage to manage your financial and legal risk. In fact, most states require small businesses to maintain certain types of coverage, including workers comp insurance.

As you seek adequate insurance coverage, there are a number of considerations to make, including the type of coverage, the limits to your coverage, the agent or broker you purchase from, and beyond. And then there’s the question of timing. Simply put, there are certain times when it is especially beneficial to purchase coverage or to review the terms of an existing policy.

When to Shop for Business Insurance

Some of the most advantageous times to consider your business insurance needs include:

  • When your current policy hits its renewal period. This is an excellent time to shop around, compare rates, and ensure that you’re still getting the best kind of coverage you need.
  • When you hire or lay off employees. As your workforce changes and the scale of your company evolves, you may determine that you need more or less insurance.
  • When you relocate your business. You may need to change insurance coverage to ensure compliance with local laws, or simply to accommodate the needs of a new facility.
  • When you buy new equipment, or when you get rid of old equipment. Any change to your business resources can involve a change in insurance needs.
  • When you expand your product line. You may need new insurance to cover liability risks associated with a particular product.
  • When your revenues take a sharp increase or decrease. You may need more or less insurance as your business income changes.

What’s the Best Time of the Year for Buying Business Insurance?

Insurance offers year-round protection for your business, but there may be certain seasons where it makes more sense to make your insurance purchase.

Remember that, when you choose a certain month to buy insurance, that’s when your renewal process will occur each and every year. As such, it can be wise to look at your fiscal calendar in order to determine the time of year best suited for buying insurance, taking into account your cash flow and the price of your insurance premiums.

When Should New Businesses Invest in Insurance?

A final question: Let’s say you’re launching a brand-new business entity. Is insurance something you need from the get-go, or can it wait until your business is more firmly established?

There are certain types of insurance, including general liability, that you’ll probably want from the very beginning. After all, as soon as you start your business, you begin courting risk. A good broker will be able to tell you more about the types of coverage best suited for your new business.

Something like workers comp may be able to wait until you start bringing on employees, assuming you don’t have personnel on staff from the very beginning.

Is Now the Time to Buy Business Insurance?

If you’re ready to move forward with business insurance, or simply have questions about the timing of the process, reach out to us directly. At FullHR, we are always happy to address questions about small business insurance coverage, and to help our clients get the insurance they need at rates they can afford.

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