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Four Things You Should Know About Christmas Risks for Business

Posted Nov 30th, 2018 in Media, General, Insurance Tips, Commercial Insurance, Did You Know?, In the News

Depending on your type of business the holiday season can impact you in different ways. For some businesses, Christmas is the busiest time of year, while others experience a lull. Regardless, there are a variety of business risks you need to be aware of.  

Christmas Risks for Business, Youngs Insurance, Ontario

With the holiday season quickly approaching you need to stay informed on how you can avoid any business risks. The last thing you need is a headache during this joyous time!

The many Santa hats a business owner wears…

As a business owner, staying ahead of issues and being proactive is an invaluable quality to possess. We understand how busy the holiday season is and that’s why we’re here to remind you of potential risks to be aware of. When it comes to Christmas, there are many risks your business can encounter which can negatively impact production and overall business flow.

Helpful Tips To Avoid Christmas Risks for Businesses

We’ve outlined some typical risks business owners experience during the holiday season.

1 | Looming Deadlines

Christmas is one of the busiest times of year, with business owners doing their best to keep up with consumer demands. Employees often work late to finish orders or projects and on occasion, businesses cut corners during rush periods to meet deadlines. No matter the deadline, ensure safety precautions are still in place – the cost of a workplace accident is far greater than losing a sale.

2 | Seasonal Employees

Whether you’re hiring seasonal employees to cover your permanent employees who are taking vacation during the holidays or to cover the additional increase in business activity, training seasonal employees is vital. In an effort to avoid workplace accidents you need to follow complete procedures with regards to training temporary employees on all business and safety practices. In addition, it’s important you match seasonal employees to tasks within their skill level.

3 | Reputation Management

With the increase of demands throughout the Christmas season, on occasion errors happen.  For example, if you are in the delivery business, you could fall behind due to the increase in demand or in the distribution business you may not have enough product to fulfill orders.  Reputation management is imperative. Protect your reputation by communicating with your customers often, while being transparent about when they can expect to receive their order.

4 | Holiday Staff Party

Planning a Christmas party for your employees is a great way to say thank you and celebrate the holiday season together.  Unfortunately, when alcohol is mixed in, and a company doesn’t fulfill its due diligence, they can experience a wide variety of liability issues. You should follow our office holiday party ‘Dos’ and ‘Don’ts’.   

We hope your business doesn’t experience any of these risks this Christmas season. We wish you a very Merry Christmas and hope you enjoy some much-deserved time off during the holidays!

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