Diversity, equity, and inclusion (DEI) training is an educational course or program within a company that allows employees to learn about and experience the backgrounds and cultures of their colleagues. This type of initiative promotes awareness, inclusion, and understanding of the diverse backgrounds of all individuals. Diversity, equity, and inclusion in the workplace are defined…
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Recruitment Funnel: What It Is, How It Works & Metrics to Track
What Is a Recruitment Funnel? A recruitment funnel is a structured process that guides candidates through seven stages, from awareness to hiring. This funnel begins by attracting potential candidates and narrows down to selecting the most suitable ones for the job. The recruitment funnel works by filtering out unqualified candidates at each stage, ensuring that…
The 7 Common Types of Collateral For Loans
There are forms of collateral that are more common than others, which are often associated with the loan type you choose. We’ve compiled the most common types of collateral that may be requested when applying for a business loan: real estate, cash, investments, blanket lines, equipment, inventory, and invoices. 1. Real Estate For mortgages, the…
What is a Balloon Payment & How Does It Work?
A balloon payment is the final amount due following a repayment structure that has a series of smaller monthly payments, with a larger lump sum due at the end of the loan term. Monthly payments can be interest-only or include principal, and the remaining principal amount is to be repaid in full with the last…
At-will Employment: Ultimate Guide for Small Businesses
Employment at-will allows employers to terminate employees without cause (meaning for any legal reason or no reason at all), provided that the termination doesn’t violate anti-discrimination or other employment statutes. It also allows employees to leave a company at any time, for any reason, provided there are no other restrictions on their employment. This gives…
Do You Need a Business Savings Account? 7 Key Benefits
Creating a dedicated business savings account is a great way to start building funds for emergencies, taxes, and other business goals. Business savings accounts are Federal Deposit Insurance Corp. (FDIC)-insured to keep your money safe and offer higher interest rates to help grow your balances. Without a savings account to separate your savings from your…
What Is the Cash Ratio & How to Calculate It?
The cash ratio measures a company’s ability to pay its short-term debts using only cash and cash equivalents. It’s one of many financial ratios that investors and lenders use to measure the health of a business and the risk of lending it additional money. The cash ratio is calculated by taking the sum of a…
What Is a Deposit in Transit on a Bank Reconciliation?
A deposit in transit is a cash deposit that a business has recorded in its books but the bank hasn’t processed it and posted it to the corresponding bank account. Think of it like a package you’ve shipped. Once you hand it over to the shipping carrier, it’s “in transit” until it reaches its destination….