Almost daily we hear news of hacking attempts and data breaches, and most small businesses are left wondering how they can protect themselves from becoming a victim of cybercrime. This is a legitimate concern, because 58% of malware attack victims are categorized as small businesses and this stat appears to be on the rise. In fact, many SMBs see phishing scams and other malware attacks as the number one threat facing their business. While there are many tools that can prevent an attack from penetrating your business network, businesses often overlook the factor that makes them most vulnerable to attack – their people.
That’s right, people are the weak link in cyber security for businesses. Employee negligence is the main cause of data breaches, according to a state of the industry report by Shred-it, an information security company. In 2017, data breaches cost companies an average of $3.6 million globally, according to a separate report from the Ponemon Institute. For smaller organizations especially, that price tag could wipe out the business. Also, a data breach can also cheapen a company’s brand and negatively impact their ability to do work.
Despite this, approximately 65% of SMBs report having no employee training on cybersecurity. The research and advisory firm Gartner maintains that applied examples of cybersecurity awareness training easily justify its costs. According to their data, untrained users click on 90 percent of the links within emails received from outside email addresses, causing 10,000 malware infections within a single year. By their calculations, these infections led to an overall loss of productivity of 15,000 hours per year. Assuming an average wage of $85/hr, lost productive costs reach $1,275,000 which does not necessarily account for other potential costs such as reputational damage, remediation cost, or fines associated with breaches.
Information security training can change user behavior to stop handing over the keys to the kingdom. Cybersecurity awareness training, when it includes features like realistic phishing simulations and engaging, topical content, can elevate the security IQ of users, reducing user error and improving the organization’s security posture along the way.
Connecting Point can help your organization assess its exposure to information breaches and develop a security awareness training program to educate your employees. Please contact Connecting Point at 970-356-7224 to discuss Cybersecurity and employee training for your business.
The Windsor Independent Living Facility is conveniently located in the heart of Windsor at the corner of 14th and Main Street. The Windsor provides two different floor plans– one bedroom/one bath and two bedroom/two bath.
With only 31 apartments, the unique size offers an intimate and family-oriented living environment where friendships and connections are easy to make.
Apartments feature open floor plans with spacious living rooms and kitchens for entertaining and walk-out balconies or patios. Each unit is equipped with in-unit stackable washers and dryers. Other commons areas for residents use include; the Activity Room with full kitchen, Library, Exercise Room, Game Area, Private Dining Room, Sun Room, Beauty Salon, and General Store.
Residents can rest assured reception staff are awake and available in the facility 24 hours a day in case of emergencies. A varied activity and wellness program, seven days a week, encourages residents to remain active and engaged with cultural, educational, spiritual and social activities. Columbine’s van transportation is available for medical appointments, personal trips, and shopping. The restaurant-style dining room offers daily made-to-order breakfast and dinner. Weekly housekeeping and linen service are included for residents’ convenience.
A lifestyle with amenities is essential for older adults. Our goal for The Windsor is for our residents to enjoy quality services with ample flexibility to meet their individual needs. Our pet-friendly facility offers a lifestyle where housework, yard maintenance, snow removal, and meal preparation are a thing of past!
Also on the Windsor campus, residents have easy access to doctor’s offices and Columbine services including; outpatient therapy, home health, companion care, and medical equipment and supplies. Our Westwood Patio Homes, Columbine Commons Assisted Living and Health & Rehab are located on the same campus.
We look forward to providing you a tour as we will open in May 2019!
Statistics show that the average American waits until the latter stages of life to obtain an estate plan, and while we all hope to live long and healthy lives, many people are leaving themselves in less than ideal circumstances should tragedy strike. In fact, a staggering 78 percent of millennials (ages 18-36) and 64 percent of Generation X (ages 37 to 52) do not have an estate plan, many of whom have minor children.
While the main component of a complete estate plan, a well drafted will or trust, will effectively and efficiently distribute your assets upon death, it is also a vital instrument to name guardians for minor children. Should someone pass away with minor children and without a well-drafted will appointing a guardian, a judge will decide who will fill this role. The process of appointing a guardian can be extremely difficult for children and can lead to tension and emotional turmoil.
In addition to a will or trust, it is important to have general and medical powers of attorney. A general power of attorney appoints an individual to make financial decisions on behalf of the principal. This includes paying rent or a mortgage, depositing paychecks, and paying routine bills. Further, a medical power of attorney appoints an individual to make medical decisions when the principal is incapable of doing so. Without this position designated, loved ones will be unable to make medical decisions for the principal in urgent situations. Both powers of attorney are necessary for any legal adult since an individual’s parents or spouse do not have the authority to make legal decisions for the incapacitated person. Overall, a thoughtful and thorough estate plan is necessary for every adult regardless of individual circumstances.
Payroll & Workforce Services
While some tax obligations come with safety valves, such as the option of filing for an extension on income tax returns, there is no leeway with payroll taxes.
If you file your reports or make withholding deposits late, the meter on interest and penalties starts running immediately for failure to file, failure to deposit, and failure to pay.
Payroll is more than just issuing paychecks and filing a year-end W2.
You must also file monthly or quarterly reports with the IRS along with various state tax agencies, and money must be transferred from the business to the appropriate taxing agencies timely.
When you withhold taxes from your employees’ pay, that money no longer belongs to you. It is part of the employees’ pay and needs to be deposited on their behalf before the deadline.
The IRS does not look kindly at employers who treat the money they withhold from their employees’ pay checks as a cash flow cushion.
The argument for outsourcing payroll administration functions is strong, and it’s only getting stronger. Not only can you reduce your exposure to missed filing deadlines and the penalties they trigger, you stay compliant with ever-changing labor laws and tax regulations.
Outsourcing will free you up to devote more of your time to business-strategic activities and you’ll benefit from increased employee satisfaction and morale.
At Payroll Vault, our mission is supporting your success.
Visit us at www.payrollvault.com; we’d love to be your payroll partners!