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Home   Membership   Education   Events   Resources   External Affairs      June 10, 2014

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Build a culture of prevention in your business
Fast Company
Recent events make it seem as though companies are putting profits over safety: The mining disaster in Turkey, the missing Malaysia Airlines jet, and the sinking of the South Korean ferry Sewol have highlighted widespread safety transgressions and prompted leaders to rethink their nations' entire safety systems. And even here in the U.S., General Motors is being blasted for their "broken safety culture" after a massive recall and unprecedented $35-million fine. Whether it's a corporation or an entire country, building a culture of prevention should be on the top of every leaders' priority list.
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3 mistakes to avoid with accounts receivable management
By Scott Wolfe
Almost anyone running or managing a company, or working in a finance function within a company, knows the challenges with managing accounts receivables. When you pull a cash statement on your business and get to the receivables line, you're just staring at money owed to you, but not in your pocket. The consequences of this are expensive. The following are the three most common mistakes construction companies make when managing their A/R.
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States, cities 'ban the box' in hiring
A criminal record is such a stumbling block to employment that many states, cities and counties are passing laws to remove the question from applications for government jobs. Increasingly, some are forcing private employers to ban the question, too. So far this year, Delaware and Nebraska have passed legislation to "ban the box" from application forms for most state, city and county jobs. In the past five years, California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New Mexico, Minnesota and Rhode Island and the District of Columbia have banned the box for most state jobs. Hawaii was the first state to ban the box in 1998.
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Resolve to get employees involved in wellness programs
Compliance with safety and health regulations is your duty under the law. While there are no comparable laws governing diet, exercise, and stress, many employers agree that these factors play a role in keeping employees healthy and productive and preventing illness.
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Missed last week's issue? See which articles your colleagues read most.

    The power and peril of predictive analytics (Human Resource Executive Online)
Firing staff could present a security risk for your business (Business 2 Community)
Creating a corporate e-discovery readiness program (Inside Counsel)
Reputational risk is the No. 1 concern for UK CEO's (The C Suite)

Don't be left behind. Click here to see what else you missed.

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Pinpoint reputational risk to prevent brand damage
Brands are increasingly focused on listening for online activity involving their organizations. But they have put an emphasis on measuring audience sentiment to firefight instances of negative brand perception, especially those expressed over social media channels. Is that really enough to protect them from the reputational risks and other business risks stemming from the broadening online landscape? No.
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Extended supply chain risk: Questions to ask suppliers about their supplier management practices
Spend Matters
In recent years, manufacturing organizations have moved on from pursuing often narrow programs tackling supply risk focused on first-tier supplier financial viability to looking at broader risk areas such as environmental, weather, labor, corporate social responsibility, and environmental health and safety – including but not limited to tier-one suppliers. Taking into account the extended supply chain as part of supplier risk management is often an order of magnitude more complicated than just looking at the immediate supply base.
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  Experienced Insurance Counsel
MMM is a full service law firm with a strong national presence in insurance, corporate and regulatory matters. Our attorneys are experienced in all matters related to the industry from the creation of insurance companies and captives to liquidation of entities. We also represent an array of insurers/reinsurers in complex litigation and arbitration matters.

How can you drive returns on your business continuity plan?
Business 2 Community
If you are aware of what business continuity planning is all about, then you might also have heard that it is just another expensive insurance plan you need to keep paying for until the real need arises and doesn't come with any return on investment. Have you? In fact, this is what most business leaders conclude business continuity planning is. According to a survey by Continuity Central, 38 percent of business continuity professionals responded that due to lack of budget, funds, and resources, BCP is likely to be a major problem in 2014.
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Healthcare social media policies: Why is the NLRB looking at my employee handbook?
Government Health IT
Healthcare providers are accustomed to dealing with privacy issues regarding medical information. And because they have the dual role of provider and employer, they often implement policies prohibiting disclosures by members of their workforce. Policies, indeed, that frequently show up in employee handbooks.

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Companies taking reputation risk management more seriously
The Holmes Report
Reputation risk management is moving up the corporate agenda, with almost two-thirds (63 percent) of senior executives — including communications directors, heads of legal, CEOs and risk managers — indicating that they are dedicating more time to the discipline than they did two years ago, according to new research from UK law firm Schillings.

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Employers crack down on social media abuse
Business Management Daily
While the initial explosion in social media usage took employers (and their attorneys) off guard, more organizations now have clear employment policies — and they're not shy about flexing them. In fact, more than 70 percent of employers have disciplined employees for on-the-job misuse of social media sites like Facebook, Twitter and Instagram, according to a new survey by the Proskauer law firm.

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Crisis management and the growing role of social media
Facebook and Twitter are already used to disseminate information about breakdowns and crises. Public service organizations have begun to use them to as part of their PR strategy for good crisis management. Now there's a move to use social networks, Twitter in particular, for communication in the opposite direction. In the UK, the London Fire Brigade announced Twitter as an acceptable channel for reporting fires. This is a bold move as well as a potentially lifesaving one. It's bold because it opens up the challenge of sorting out relevant messages from irrelevant ones that could include hoaxes. Is there a companion solution to separate the grain from the chaff?
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Minimizing risk in a privately-held business
Steve Parrish writes, "A private equity firm's financial officer discussed possible target acquisitions at a meeting I attended recently. When asked about whether his firm would acquire an operation in a particular industry, he bluntly stated, 'No, we need a 15 to 20 percent return or it's simply not efficient to invest.' I found his answer somewhat of a shocker. He was shutting out consideration of many profitable industries and businesses — all based on a high hurdle rate. Maybe this is good news for people who own, and want to continue to own, their businesses. They are not at risk of being taken over. This means, however, that small owners must take steps to protect their businesses in other ways."
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Making executives a part of disaster recovery solutions
Midsize Insider
Disaster recovery is more than just an IT problem, according to Mary Shacklett of TechRepublic. Every department in the company should have a hand in system recovery and in practicing and preparing for outages and hiccups. All plans must emphasize company-wide continuity. C-level executives should bridge the gap between departments and ensure that all sectors are on the same page, Shacklett writes. Disaster recovery should ultimately be the responsibility of executives, not IT.
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