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The Evolution of Human Resources

The function of Human Resources has changed drastically over the past 10 years. Most people think HR is just hiring and firing, but having been in the HR arena for 25+ years, I can safely say it’s a lot more than that.

What is Human Resource Management (HRM)?

It is the process of managing employees in a company and it can involve recruitment, hiring, firing, training, performance management, benefits and motivating employees. The Society of Human Resource Management (SHRM) breaks it down to these 6 components:

  1. Business Management & Strategy
  2. Workplace Planning & Employment
  3. Human…

Construction Financing for your Business

Are you considering building your own building or doing a major renovation to your current building? If so, this article provides insight on the process of working with a bank to fund your project.

When providing funds to support construction financing, the bank assumes the risk associated with the customer’s ability to successfully complete a proposed project on time and within budget. To monitor each project’s progress, costs and loan disbursements, the bank has an established construction loan administration process. This process is essential to effectively controlling construction risk and providing the client, contractor and bank with a predictable and…


Protecting Your Assets

You have worked hard building your business into the success it is today. Unfortunately, there are fraudsters and criminals working just as hard to take what you have earned away from you. Thankfully, your bank can assist you in understanding how your business is at risk and the services that can help protect you and your business.

Four major areas that pose significant risk are:

  • Wire Transfers
  • Email and Network Security
  • Check Fraud
  • Internal Fraud

Wire transfers are a common target for potential fraud. As such, they are closely monitored by regulation. In…


Risky Business – Does Your Broker Speak Straight?

For 15 years, I was the president and owner of a gourmet dog treat manufacturing company. I know firsthand that the demands of running a business can make dealing with insurance low on the list of priorities. While businesses know it is a necessity, most do not spend much time on securing business insurance. I know for me, when it was time for my annual review it was often difficult to even locate a copy of my policy.

My experience as a business owner has been very helpful in dealing with my current clients and prospects. The mistakes I made…


Foreign Exchange 101

For many, Foreign Exchange is, well, foreign to them. Foreign Exchange, also referred to as Forex or FX, is the exchange or the conversion of one currency to another. Given the globalization of the economy, Forex transactions total more than $5 trillion daily making the Forex Market the most liquid in the world.  The U.S. Dollar (USD) is the most widely traded currency followed by the Euro, the Yen and the British Pound.  Forex rates are used to convert one currency to another and create parity between the currencies.

How Does Forex Work?
Let’s start with a simple example of a…


Tips to Improve Employee Retention

According to a 2018 report from the U.S. Bureau of Labor Statistics, employees are quitting their jobs in record numbers, reaching levels that we haven’t seen since 2001. This should make it clear that retaining talented and skilled employees should be one of your company’s TOP priorities.

Studies on the cost of employee turnover are all over the board. Some studies (such as SHRM) predict that every time a business replaces a salaried employee it costs six to nine months’ salary. For a manager making $40,000 a year, that’s $20,000 to $30,000 in recruiting and training expenses.

Another interesting statistic –…


Hedge Against Rising Interest Rates

Several times in my career, I have been asked by a client to provide a long-term fixed-interest rate for a commercial real estate purchase or refinance. Clients have asked why they are able to obtain a 30-year fixed-rate loan on a residential home purchase, but are limited to a 5- or 7-year fixed-rate loan for commercial real estate financing. The simple answer to this is interest rate risk.

For a bank, there is risk associated with providing long-term fixed-rate financing on a loan with variable-funding costs (deposits). Consider this example, a bank provides a commercial loan with an interest rate…


Small Business Spotlight: Chestnut Hill Brewing Company

Small businesses are at the heart of every community. At Univest Bank and Trust Co., we have the privilege of working with local entrepreneurs. Whether they are starting a new business, growing their existing business or expanding to a new facility, we’re honored to be their partner and help on their journey to success. That’s why we’re highlighting a few of our small business customers. They discuss what inspired them to take the leap and start their own business, bumps they hit along the way and advice they have for other entrepreneurs.

Making Your Dreams a Reality
Lindsey Pete and Nick…


Businesses – Save with Section 179

If you’re looking to acquire equipment in the near future or are a supplier looking to save your customers money, act now and save with Section 179. Utilizing Section 179 could have a significant impact on the effective after tax cost of equipment/software purchased and put into service in 2018.*

  • Covers new and used equipment/software^
  • Maximum deduction limit of $1,000,000

Take the full tax benefit now and spread your expense over a multi-year financing term to considerably reduce your true cost of ownership. For a limited time only, you can stack your deductions with our ‘No Pay Till Tax Day’…


It’s Time for a Business Check-Up

Just as we should go to our doctor once a year, an annual business check-up is a good practice to implement. Although the economy is currently strong, economic activity seems to be leveling off as we enter 2019. There are many headwinds that could affect your business next year.

Doing a check-up now will help you determine what things to continue, what things to stop, and what things to try. Many of you do this already, so use this as a reminder that the end of the year is a good time to review your processes and activities. The following…

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