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4 Ways to Boost Employee Engagement

A company that has high employee engagement is bound to be more successful because there is an emotional commitment. This is much different than employees that simply come to work to earn a paycheck. A team that’s highly engaged will be far more enthusiastic about the work that’s performed. Needless to say, employee engagement should always be a priority. Below are four ways you can boost employee engagement in your organization.

Have Social Gatherings

Social gatherings really aren’t about having fun. While they can and should be a good time, they are really for the purpose of building personal relationships. When people socialize together, they foster more positive relationships, which can improve their ability to coordinate and work together as a cohesive and fully engaged team.

Cultivate a People-Focused Culture

Sometimes the leaders of a company will forget that employees are their number one asset. Without the right talent, you will struggle to achieve your goals. Likewise, when a business is people-focused, they spend time meeting the needs of employees and customers. This is something that doesn’t usually go unnoticed and can contribute to much higher employee engagement.

Establish Clear Goals

It’s always easier to hit a target when you can see it, which is why clear goals are so important. When employees are unsure about daily priorities and long-term goals, it can create uncertainty and a lack of focus, which are detrimental to employee engagement. It’s why you should constantly endeavor to set clear goals.

Promote Authenticity

Work is necessary to earn a living. Quite frankly, if most people could stay home and still earn a paycheck, they would. Yes, there are some people who are passionate about their job and would go to work even without a paycheck, but that’s certainly not the majority of people in the workforce. With that being the case, it takes effort to promote authenticity when building business relationships. Nevertheless, it’s important since employees are more highly engaged when leaders are authentic.

Boosting employee engagement should be a priority because it has bottom line implications. It should also be a priority simply because it’s the right thing to do.

from Mike Plumlee Financial Advisor | Business https://ift.tt/2XtQNDE
via IFTTT

What is a Contingent Beneficiary?

When an individual authors a will or plans how their estate’s final affairs are to be handled, many issues must be resolved. One such consideration that often arises is the designation of beneficiaries (persons who receive the decedent’s assets). During the process of designating beneficiaries, someone might need to identify a contingent beneficiary.

A Contingent Beneficiary Defined

An individual designated a contingent beneficiary receives the proceeds of a deceased person’s assets in the event the primary beneficiary cannot.

People who hold monetary assets such as banking, investment, and retirement accounts are typically given the liberty to name a primary beneficiary or beneficiaries who will receive the contents of these accounts upon the owner’s passing.

The Reasons Why Contingent Beneficiaries Might be Designated

In certain instances, circumstances might arise where the primary beneficiary is unable or unwilling to access or accept the financial reward said individual was chosen to receive.

For example, a primary beneficiary might die before the account holder. In other cases, the primary designee might not accept the reward. Such occasion might arise if primary designee and account holder had a personal falling out and are no longer on speaking terms.

The Importance of Contingency Beneficiary Designation

If the primary designee cannot or will not accept the funds or assets, the future of the decedent’s personal property might be decided by individual state courts and be subjected to a legal process known as probate, which could last for many months or years depending upon the size and complexity of the deceased individual’s estate.

Individuals Eligible to Receive Contingent Beneficiary Designation

There are few restrictions regarding who an account holder can name as a contingent beneficiary. In many instances, a primary beneficiary will be a spouse or child. Contingent designees can be any individual over 18. Additionally, a contingent designation may be bestowed upon estates and trusts.

Amending Contingent Beneficiary Designation

Typically, most financial institutions will allow an account holder or asset bearer to change such designations. That said, the amendment will need to be made in writing by completing the institution in questions mandatory forms.

from Mike Plumlee Financial Advisor | Financial Planning https://ift.tt/35e9LAO
via IFTTT

4 Ways to Boost Employee Engagement

A company that has high employee engagement is bound to be more successful because there is an emotional commitment. This is much different than employees that simply come to work to earn a paycheck. A team that’s highly engaged will be far more enthusiastic about the work that’s performed. Needless to say, employee engagement should always be a priority. Below are four ways you can boost employee engagement in your organization.

Have Social Gatherings

Social gatherings really aren’t about having fun. While they can and should be a good time, they are really for the purpose of building personal relationships. When people socialize together, they foster more positive relationships, which can improve their ability to coordinate and work together as a cohesive and fully engaged team.

Cultivate a People-Focused Culture

Sometimes the leaders of a company will forget that employees are their number one asset. Without the right talent, you will struggle to achieve your goals. Likewise, when a business is people-focused, they spend time meeting the needs of employees and customers. This is something that doesn’t usually go unnoticed and can contribute to much higher employee engagement.

Establish Clear Goals

It’s always easier to hit a target when you can see it, which is why clear goals are so important. When employees are unsure about daily priorities and long-term goals, it can create uncertainty and a lack of focus, which are detrimental to employee engagement. It’s why you should constantly endeavor to set clear goals.

Promote Authenticity

Work is necessary to earn a living. Quite frankly, if most people could stay home and still earn a paycheck, they would. Yes, there are some people who are passionate about their job and would go to work even without a paycheck, but that’s certainly not the majority of people in the workforce. With that being the case, it takes effort to promote authenticity when building business relationships. Nevertheless, it’s important since employees are more highly engaged when leaders are authentic.

Boosting employee engagement should be a priority because it has bottom line implications. It should also be a priority simply because it’s the right thing to do.

What is a Contingent Beneficiary?

When an individual authors a will or plans how their estate’s final affairs are to be handled, many issues must be resolved. One such consideration that often arises is the designation of beneficiaries (persons who receive the decedent’s assets). During the process of designating beneficiaries, someone might need to identify a contingent beneficiary.

A Contingent Beneficiary Defined

An individual designated a contingent beneficiary receives the proceeds of a deceased person’s assets in the event the primary beneficiary cannot.

People who hold monetary assets such as banking, investment, and retirement accounts are typically given the liberty to name a primary beneficiary or beneficiaries who will receive the contents of these accounts upon the owner’s passing.

The Reasons Why Contingent Beneficiaries Might be Designated

In certain instances, circumstances might arise where the primary beneficiary is unable or unwilling to access or accept the financial reward said individual was chosen to receive.

For example, a primary beneficiary might die before the account holder. In other cases, the primary designee might not accept the reward. Such occasion might arise if primary designee and account holder had a personal falling out and are no longer on speaking terms.

The Importance of Contingency Beneficiary Designation

If the primary designee cannot or will not accept the funds or assets, the future of the decedent’s personal property might be decided by individual state courts and be subjected to a legal process known as probate, which could last for many months or years depending upon the size and complexity of the deceased individual’s estate.

Individuals Eligible to Receive Contingent Beneficiary Designation

There are few restrictions regarding who an account holder can name as a contingent beneficiary. In many instances, a primary beneficiary will be a spouse or child. Contingent designees can be any individual over 18. Additionally, a contingent designation may be bestowed upon estates and trusts.

Amending Contingent Beneficiary Designation

Typically, most financial institutions will allow an account holder or asset bearer to change such designations. That said, the amendment will need to be made in writing by completing the institution in questions mandatory forms.

5 Ways To Make Your Office Eco-Friendly

Having an eco-friendly office is not just good for the environment, it’s also good for your bottom line. There are a variety of ways to incorporate eco-friendly practices in an office environment that will reduce your expenses. Take a look at the five tips below.

Provide Recycling Bins

There’s usually a lot of paper used in a business environment, which means there are many opportunities to recycle. This is best achieved by providing recycling bins coupled with communications that encourage employees to use them. While paper is what’s most often recycled in an office, there are other items like cardboard boxes that can become part of the recycling program.

Select Eco-Friendly Products

Fortunately, there is an expanding list of eco-friendly products on the market that can be used in the work environment. From recycled paper to natural cleaners, you’re likely to find environmentally friendly office products if you look for them.

Reduce Consumption of Energy

While most people remember to turn off lights and equipment when they leave home, they don’t always remember to do so when leaving work. By establishing internal procedures and initiatives that promote conserving energy, you’re likely to save a substantial amount of money throughout the year.

Decorate with Plants

A great way to improve the quality of the air in your home is by adding plants. So much time is spent in the home environment that optimizing the air quality is imperative. There are indoor air purification systems that can help, but they tend to be costly, Plants are a great way to enhance the air that you breathe in your home.

Choose LED Lights

LED lights can significantly reduce the consumption of energy in an office. In fact, some studies have shown the reduction to be more than 75 percent. This ends of being cost effective in more ways than one because LED lights last longer, which means they don’t need to be replaced as quickly.

The key to making your office eco-friendly is getting everyone on board. It’s not something that will happen overnight, but it’s still worth the time and effort it takes to promote sustainability.

from Mike Plumlee Financial Advisor | Business https://ift.tt/324MCj4
via IFTTT

The Top Forgotten Questions to Ask Your Financial Adviser

Everyone who has a financial adviser should be asking them some questions. It is important for the client to think about their investment portfolio and plans every year.

Fees

The first thing to do is to ask the financial adviser how much fees they are charging. People who use a financial adviser should ask about fund, account and transaction fees. A client should determine how fees are changing their returns.

Employer Contribution

It is important to take advantage of any retirement plans, savings accounts or other financial benefits from an employer. A financial adviser should help a client determine how their 401(k) fits into their retirement plan and how to leverage other financial plans available from an employer. These may include medical savings accounts and employee stock purchase plans. If the employer offers contribution matching a 401(k), that should be fully taken advantage of. Another benefit is that the amount the employer contributes does not count toward the annual Internal Revenue Service contribution limit.

New Tax Laws

The Tax Cuts and Jobs Act passed in 2017. The law started last tax season, but a lot of people are still trying to adjust to the changes. A financial adviser should be able to advise on the new tax law. Here are some of the changes:

    • Most tax brackets have been reduced.
    • The child tax credit has increased.
    • Alimony payments are no longer deductible from taxable income.
    • The allowance for itemized medical expenses deductions increased.
    • Inheritance tax exemptions have significantly increased.

Risk

Be sure to understand how much risk is currently appropriate with finances. A financial adviser should be able to help their client determine how much risk is appropriate based on age, finances, the general level of risk aversion and goals. As circumstances change, how much risk is appropriate should be re-evaluated every year.

Other Services

Ask the financial adviser what other services are offered at their firm. They may offer estate, legacy, tax, banking and other services. All of those services are important for financial plans.

Final Words

Asking a financial adviser these important questions may prevent their client from making huge mistakes. The financial adviser should be able to optimize finances that will benefit their client.

from Mike Plumlee Financial Advisor | Financial Planning https://ift.tt/30YqPYU
via IFTTT

The Top Forgotten Questions to Ask Your Financial Adviser

Everyone who has a financial adviser should be asking them some questions. It is important for the client to think about their investment portfolio and plans every year.

Fees

The first thing to do is to ask the financial adviser how much fees they are charging. People who use a financial adviser should ask about fund, account and transaction fees. A client should determine how fees are changing their returns.

Employer Contribution

It is important to take advantage of any retirement plans, savings accounts or other financial benefits from an employer. A financial adviser should help a client determine how their 401(k) fits into their retirement plan and how to leverage other financial plans available from an employer. These may include medical savings accounts and employee stock purchase plans. If the employer offers contribution matching a 401(k), that should be fully taken advantage of. Another benefit is that the amount the employer contributes does not count toward the annual Internal Revenue Service contribution limit.

New Tax Laws

The Tax Cuts and Jobs Act passed in 2017. The law started last tax season, but a lot of people are still trying to adjust to the changes. A financial adviser should be able to advise on the new tax law. Here are some of the changes:

  • Most tax brackets have been reduced.
  • The child tax credit has increased.
  • Alimony payments are no longer deductible from taxable income.
  • The allowance for itemized medical expenses deductions increased.
  • Inheritance tax exemptions have significantly increased.

Risk

Be sure to understand how much risk is currently appropriate with finances. A financial adviser should be able to help their client determine how much risk is appropriate based on age, finances, the general level of risk aversion and goals. As circumstances change, how much risk is appropriate should be re-evaluated every year.

Other Services

Ask the financial adviser what other services are offered at their firm. They may offer estate, legacy, tax, banking and other services. All of those services are important for financial plans.

Final Words

Asking a financial adviser these important questions may prevent their client from making huge mistakes. The financial adviser should be able to optimize finances that will benefit their client.