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Pink Shirt Day is a day to spread awareness about the harmful effects of bullying. It is an employer's responsibility to protect the mental and physical health of its employees, including protection from bullying and harassment.
Help do your part by sharing this information with your employees and coworkers.
According to the Workplace Bullying Institute, almost 19 per cent of workers report having been bullied and another 19% have witnessed it.
Bullying can cause emotional and physical damage to employees; such damage often includes feelings of inadequacy and low self-esteem, which can lead to problems like anxiety, depression, hypertension, or migraine headaches.
Bullying can also financially damage your company. You may end up with legal fees if a victim makes a legal claim against the bully or your company.
You may need to send a victim to counselling to help with anxiety, stress, or depression. Or you may need to send your employees to classes for anger management, leadership training or sensitivity training to encourage a bullying-free workplace.
But bullying can cost you a lot more than legal fees or employee counselling. Here are ways workplace bullying can affect your company financially:
Bullying directly affects a victim's confidence and is likely to decrease his or her productivity at work. Victims may also experience high anxiety, which can be very distracting and even debilitating.
Reduced productivity is bad for business and can lead you to discipline the employee, take away responsibilities or possibly terminate him or her.
You may not realize the employee is being bullied, and therefore do not have the chance to offer any counselling or other assistance.
A bullied employee may go to great lengths to avoid a high-stress situation at work. Calling in sick or using a large amount of paid time off at once are common tactics used to avoid a bully.
Other employees may have to make up the extra work, possibly resulting in overtime, complaints or even more bullying behaviour.
An excessive number of lost working days benefits no one.
A 2014 survey by the Workplace Bullying Institute found that for 25 per cent of respondents, the best solution to stop bullying was to quit their jobs. Nineteen per cent of the respondents felt forced to quit when circumstances were made deliberately worse.
Each time an employee leaves the workplace, you have to recruit, hire and train a new employee.
An unstable work environment like that is expensive, time-consuming and can be exhausting to existing employees.
Workplace bullying also causes a decline in morale for employees who are not victims of bullying.
These employees may be less likely to interact with others out of fear of being bullied themselves, and this may create a hostile or uncomfortable work environment.
This could cause the workplace to have a higher turnover rate as employees throughout the company suffer the effects of a not-so-happy work environment.
Victims of bullying are likely to talk to friends or family about what is going on and how they feel about it.
This information can spread quickly and sour your company's public image.
A poor public image is especially destructive to a company that depends on the public for patronages, such as a restaurant or a landscaping company.
A negative image can also deter job-seekers from applying to your company, making it more difficult to recruit new employees.
You can control the risk of bullying in your workplace by following these tips.
Scrivens is your resource for handling workplace bullying and minimizing the effects it can have on your business.
Contact us today at 613-236-9101 or info@scrivens.ca to learn more and download our free Workplace Bullying Policy.
Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.
Financial planning is crucial for several reasons:
Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.
Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.
Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.
Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.
Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.
The specific responsibilities of a financial advisor can vary, but generally, they:
The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.
Common fee structures include:
Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.