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Say you have a succession plan in place, and have identified an owner, price, and date of transition. That one scenario points to the importance of "what ifs" to consider in any succession plan. That's why a well-rounded succession plan also addresses business continuity. Those contingencies include: Income: What accommodations will provide income if you need to take a leave before a succession transition is complete? What accommodations will provide income if you need to take a leave before a succession transition is complete?
Persons: Patti Bell, Price, Bell, You'll, SIPC Organizations: Partners, Insider Studios, Kiplinger, National Life Insurance, Life Insurance, Inc, Principal Funds, Securities, Principal Securities, Financial Services Locations: NY, Des Moines
Business succession is one of the top priorities for business owners, according to the 2023 Principal® Business Owner Insights survey1. Yet 39% of these business owners lack a succession plan. A thoughtful, thorough succession plan benefits you — helping you figure out retirement income, for example. Here are six key steps to creating your succession plan. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®.
Persons: Patti Bell, it's, Bell, doesn't, SIPC Organizations: Insider Studios, National, Insurance, Life Insurance, Inc, Principal Funds, Securities, Principal Securities, Financial Services Locations: NY, Des Moines
Yet only 54% of all businesses say they have a business continuity and disaster recovery plan for a cyberattack. 2 2022 Small Business Profile, U.S. Small Business Administration Office of Advocacy. https://cdn.advocacy.sba.gov/wp-content/uploads/2022/08/30121338/Small-Business-Economic-Profile-US.pdfCyber Readiness Institute (CRI) is not an affiliate of any company of the Principal Financial Group®. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. ©2023 Principal Financial Services, Inc.
But employee benefits costs? Ask employees what they're missingYou may think your employees are satisfied with the benefits you offer, but it's worth investigating if that's still true. Add access as an employee benefitLet's say there's a potential benefit your employees want, but it's outside your employee benefits budget. "For example, maybe they just want to buy extra life insurance," Schelhaas said. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company®.
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