Saving Time and Money with Shipping Insurance

In some industries, you’re required to ship a lot of packages through the mail. Maybe you’ve got multiple factories that specialize in different parts of the same product before it’s completed, or perhaps you have a few clients that prefer to have their goods shipped directly to them from your office. Whatever the case might be, it often makes sense for businesses to run an account for shipping insurance when they’re going to be using shipping services on a regular basis.

The main benefit of having an account for PIC insurance is that you’re not going to have to worry about having to think about whether or not each package needs to have shipping insurance before you send it off. In any business, time is just as important as money, and in some cases, time can be even more important. Every second that you spend thinking about whether or not this package needs insurance or filling out the the required paperwork is time that you could be spending on other aspects of your business.

A second here or there might seem insignificant, but when added up together, they can really be costly. For example, let’s say you’ve got to fill an order that requires 50 packages, and you’ve got to fill out paperwork to get shipping insurance for each one of them. If each form takes you just 30 seconds to fill out, you’ve used up nearly a full extra half-hour on shipping your packages. Do that twice a week for a year, and you’ll have used up a full regular work week on nothing but shipping. Efficiency is one of the top keys to making money for a business while wasting time is the exact opposite.

Not having an account can also be costly in terms of money lost in not taking advantage of discounts. When you ship a lot of packages at once, you can often get a price break for larger amounts. These can be valuable, because every dollar saved is a dollar you can then invest back into your business. It’s a lot easier to grow a business when you can allocate other resources on hiring more qualified people instead.

Choosing an account for PIC insurance is a great way to get your business in prime position to ship items where you need them, while ensuring your reputation stays intact along with the goods you send. If you’re looking for a way to move your business toward getting ahead, this can be a great first step to take.

Increase Operations Efficiency in the Insurance Industry

After the economic challenges of the past decade, many companies are looking to streamline processes but are often not reaching their expected savings or fully commit to their proposed changes.

Operational efficiency is integral to maintaining profitability in a volatile market and economic climate, but it also responds to increased calls for transparency and faster access to important information. As communications become more dependent on the Internet over in-person calls, operational efficiency can also help companies meet their clients where they are at: online and researching their next major purchases.

Today’s insurance consultants strive to make insurance companies more profitable and agile, here’s how to do this with employee and operations management.

Four Effective Ways to Manage Your Employees
Operational efficiency starts with your employees. That makes operational management dependent on how you manage your employees. The right management can encourage your staff, get them better equipped for change and increase your profitability.

Encourage idea management: Your staff are your most knowledgeable and immediate resource into your business’ ins and outs. The best ideas will often come from your own staff. Working to ensure that your employees feel comfortable and encouraged to bring their ideas forward is a key to modern success, a strategy that has led to important changes in organizations like Toyota and GE.

Prioritize motivation and engagement: Employees who feel heard and engaged often show a 15-20 per cent increase in performance. So how do you engage employees? Focus on motivation, incentive programs and, of course, clear and open communication.

Incentivize your staff with fair and motivating rewards: Monetary compensation is just one way in which you can motivate your employees, but never underestimate the power of a pizza party and mentions of success in the company newsletter. These are often more cost effective and always appreciated by your team.

Change cost allocation: Flat, equal cost distribution is one of the least effective ways to improve operations, yet it is still a popular strategy. Instead, allocate costs based on consumption. It encourages people to use the resources in the organization and it saves money on expensive third-party solutions.

Four Ways to Achieve the Most Productive Organizational Structure
Look for inside hires: It pays to bring in an outside perspective, but always promoting from without instead of from within the company will leave your team feeling like they need to go elsewhere to grow. Growing leaders in-house and taking the time to mentor promising employees can help you retain valuable assets just when they may look to move, and will save you on hiring a more expensive expert from outside.

Streamline compensation: What people earn is quickly becoming more common knowledge and, with it, tensions around compensation. By streamlining your levels of compensation, you can ensure equal pay for equal work while rewarding those who deserve more for their efforts.

Reduce management layers: Modern businesses need to be flexible, agile and quick to respond to change. Having multiple levels of management can lead to the opposite: bureaucratic inefficiencies and communication structures that lose vital information. By reducing levels of management, you can increase your efficiency and better plan for those quick changes.

Get the right number of people: Too few or too many employees both present problems. One will burn out your staff, increase turnover and lead to operational “bottlenecks.” Too many employees unnecessarily increases costs while insufficiently leveraging your collected talent. This is where operations, contact centre and back-office benchmarks can drive operational efficiency.

The Assessments & Benchmarks Insurance Companies Need
If you are curious about how your company is operating and want to understand how to better streamline your operation, The Burnie Group has may assessments and benchmarks that can help your organization run better. They are even available across multiple channels, including:

Call/phone (including IVR)
Online (including chat and bots)
Mobile
Branch
Insurance benchmarks and assessments are also available across different business lines, such as:

P&C insurance
Individual life insurance
Group life insurance
Retirement
Investments
Insurance benchmarks and assessments can also help across different functions, including:

Sales
Services
Claims
Complaints
Loyalty and retention
Shared services (e.g. Workforce management)
Contact The Burnie Group today to learn more about how to drive operational efficiencies in your company to achieve better profit, happier employees, and streamlined process.

What is the efficiency of human resource management in a company

19 May 2018: The HR planning aims to fulfil objectives of requirements of human resources. Human resources planning of Tesco aims to link business operations and its strategy. Future needs, coping with change, recruitment of talented personnel, development of human resources and reduction in uncertainty are related to the significance of HR planning. Human resources planning assess the availability of future requirements of human resources within the organisation. The human resources planning apply the demand forecasting technique to determine the next human resources requirements for continuing the smooth operations of the business processes. HR planning department recruits potential candidates to fill the present and anticipated vacancies in the organisation. Then the human resources planning department imparts training to the employees so that their performances can be improved.

The critical stages of Human resource allocation that help a company

The process starts with reviewing the business objectives of an organisation and ends with the measurement of the progress of the defined planning process. In the first stage of the human resource allocation process, a business group has to carefully review its business goals to understand the organisation’s future priorities and directions clearly. In the next stage of the planning process, the internal, as well as external environments of the organisation need to be analysed.

By analysing the external environment, the organisation will be able to understand the responses of the domestic labour market and the country’s socio-economic conditions. The scanning of the internal climate helps the body to review the talents and skills it currently possesses and the future needs of abilities for the development of the organisation. The third stage is specially designed for conducting a gap analysis through which the gap between the organisation’s existing human resources and future human resource needs can be observed. In the fourth step, a plan for the organisation’s human resource management is usually constructed based on the organisation’s business priorities, future human resource needs, and budgetary capabilities.

The effectiveness of the reward system in a manufacturing company

Tesco usually pays the performance-based reward to teams or a group of employees. The company believes in team work, not in a particular person to give it. There are some benefits that Tesco derives from offering team-based rewards to its employees. Working with the team and working towards the same goal, it supports to prevent the minor faults and doing their job correctly. The most significant benefit of working with a team is inspirational, and every single result comes from the team discussion. In a teamwork, the company thinks the staffs and the team members feel confident with their suggesting ideas.