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Cyber Hygiene Best Practices
Cyber hygiene refers to habitual practices that ensure critical data and digital systems are handled safely and protected from cyberattacks. Cyber hygiene is increasingly vital for organizations of all types and sizes, not least because almost 30% of businesses experienced a cybersecurity breach in 2022, according to a Canadian Internet Registration Authority report. Organizations that…
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Family Business Succession Planning: Best Practices and Common Pitfalls
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. In the dynamic world of business, continuity is essential. For family-run businesses, continuity often revolves around the pivotal process of succession. However, transitioning a business from one generation to the next is no small feat. Many family enterprises fail…
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5 Risks You Need to Consider in the Construction Industry
Construction owners and contractors face a myriad of risks that are inherent to the industry. To help ensure safe and productive operations, they need to understand common exposures so they can take proactive steps to address them. While each operation’s specific exposures may vary, the construction industry, as a whole, faces five pervasive risks: Identifying…
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The Risk of Shadow IT
Cloud-based services are rapidly growing. With new growth comes new challenges, and shadow IT is one area of concern. Shadow IT refers to the use of IT-related hardware—including cloud applications—without the approval of IT or a security group. Specifically, employees have become comfortable with downloading and using cloud applications for work but often do so…
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Preventing Workplace Bullying
Removing fear is key to facilitating a psychologically safe and inclusive workplace. As it relates to workplace bullying, that means removing the fear of being bullied and the fear of speaking up about it. Preventing workplace bullying requires ongoing effort and commitment from everyone in the organization. By creating a respectful and inclusive workplace, employers…
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Five Reasons the Independent Lending Industry is Growing
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. Independent lending in Canada is growing in a big way — in fact, it’s anticipated the sector will be worth more than $100 million CAD by 2025. There are many compelling reasons business owners are reconsidering where they’re building lending relationships. So, we sat…
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What Does an Insurance Broker Do?
Understanding the Role of a Trusted Insurance Professional Navigating the world of insurance can seem like a daunting task. From understanding the different types of policies available to comparing insurance quotes, there’s a lot to consider. For many, the question arises: what does an insurance broker do? This article explains how insurance professionals help clients…
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Cybercriminals Are Weaponizing Artificial Intelligence
Artificial intelligence (AI) has become increasingly popular in recent years, offering functions that simulate human intelligence. While AI technology offers numerous benevolent applications, cybercriminals can also weaponize it. In an experiment conducted by cybersecurity firm Home Security Heroes, an AI tool was able to crack 51% of common passwords in less than one minute, 65%…
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The Benefits of Telematics Software for Commercial Fleets
Managing a commercial fleet and drivers can be challenging, particularly given the potential for accidents, employee injuries, liability concerns and increased costs associated with vehicle upkeep. Nevertheless, your fleet plays a significant role in the success of your business. Taking a proactive approach to fleet management is crucial. Many businesses have started utilizing telematics—a form…
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Combating the Rising Threat of Financial Fraud for Older Adults
*This post is from CMB partner Finuity Wealth. Find out about group benefit solutions here. In 2021 alone, 67,815 Canadians fell victim to financial fraud, losing more than $380 million, according to the Canadian Anti-Fraud Center. Disturbingly, fraud stands as the No. 1 crime against older Canadians. This issue isn’t isolated to Canada. That same…
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Better Understanding Quiet Quitting
“Quiet quitting” is not a new concept to employers. It occurs when employees become less invested or engaged in their work and only perform their core duties without going above and beyond. While these employees continue to perform their primary responsibilities, they’re less invested overall. Quiet quitting can indicate that a worker is unhappy in…
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How to Spot AI Voice Scams
The advancement of artificial intelligence (AI) has created many opportunities for both individuals and organizations, but this technology may also help criminals develop new methods of stealing. AI voice scams are a rising threat and generally entail a perpetrator using software programs to impersonate someone in an attempt to extort another party. Specifically, if criminals…
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Addressing Imposter Syndrome in the Workplace
Imposter syndrome, a pervasive psychological phenomenon, affects individuals across various professions. Despite their accomplishments and competence, those experiencing imposter syndrome doubt their abilities constantly and fear being exposed as frauds. This internal struggle can undermine productivity, hinder career growth, and contribute to feelings of stress and inadequacy. To create a supportive work environment that encourages…
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Safety & Your Insurance Costs
Did you know 75% of your insurance costs are tied to your loss history and anticipated losses? What would your insurance program look like if you proactively addressed the factors that drive price and coverage? In today’s competitive trucking industry, ensuring safety compliance and managing insurance costs are paramount. As your dedicated allies in risk…
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Tips for Home Maintenance in the Fall
As we head into fall, it’s time to think about getting our homes ready for the cooler weather and shorter days. But don’t worry, it’s not all chores and maintenance! Fall gives us some nice weather to work outside and get our properties all set for winter. Get a head start on your home maintenance…
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Five Truths About Interest Rates
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. Lately, we’ve heard from many customers who have questions about interest rates. As the economic outlook continues to be uncertain, businesses in the energy, construction, and transportation sectors have especially felt the burden of securing financing in a tightening lending market. And…
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Deepfakes Explained
Deepfakes are sophisticated forgeries of an image, video or audio recording using artificial intelligence (AI). As technology has evolved, deepfakes are now able to alter media so well that it’s often difficult to detect that any manipulation has occurred. Alarmingly, the proportion of deepfakes in all types of fraud increased by 4,500% in Canada from…
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The Importance of Career Ladders
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. Navigating the professional world requires a clear vision, and for employees, that often means understanding their potential trajectory within an organization. Career ladders serve as that guiding compass, ensuring both employers and employees benefit from a transparent framework for…
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Leveraging AI in Employment Decisions: Balancing Benefits and Risks
Organizations are increasingly utilizing artificial intelligence (AI) in employment-related decisions. According to the Society for Human Resources Management, around 25% of organizations use AI technology for HR processes, such as recruitment, hiring, performance evaluations and retention determinations. Although AI technology can offer several benefits (e.g., improved efficiency, objectivity and decision-making), it also presents challenges related…
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New Climate Change Handbook for Employers
The Canadian Centre for Occupational Health and Safety (CCOHS) has released a comprehensive handbook to help workplaces tackle the challenges increasingly posed by climate change. Climate change concerns have risen this year as Canada witnessed its worst wildfire season on record. Approximately 10.2 million hectares of land have been affected by wildfires in 2023, which…
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Ransomware Attacks in the Construction Industry
As the construction industry continues to increase its use of technology, the risks of cyberattacks also rise. Furthermore, certain aspects of the construction industry make it vulnerable to attacks, such as the older systems still in use and the prevalence of inadequate cybersecurity systems. Even with robust prevention systems, businesses are susceptible to malicious cyber…
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Understanding the Difference: Internal vs. External NSC Audits
*This post is from CMB partner Strategic HSE. Find out more about transportation safety and compliance solutions here. Let’s shed some light on a crucial aspect of our organization’s operations – audits! Specifically, we’ll delve into the differences between a Strategic HSE Internal Audit and an External Audit. Internal Audit: An Internal Audit is an…
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Study Finds Nearly 80% of the Canadian Workforce Is Disengaged
A recent study by global analytics and advice firm Gallup revealed nearly 8 in 10 Canadian employees are currently disengaged in the workplace. In fact, Gallup’s 2023 State of the Global Workforce study found just 21% of employees across all sectors are engaged. Although global employee engagement and job opportunities have been on the rise,…
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Why We Care So Much About Character
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. Essex Lease Financial customers are used to hearing us talk a lot about “character.” As one of the 5 C’s of Credit, character comprises a primary factor independent lenders like Essex use to make lending decisions. But it’s important to know that…
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Trenching and Excavation Safety Considerations
Trenching and excavation work involves some of the most dangerous activities in the construction industry, as an unprotected trench can significantly increase the risk of employee fatalities on-site. One of the largest hazards is the risk of cave-ins. Specifically, unstable trenches or excavations can collapse, trapping or suffocating workers. Such incidents are particularly hazardous since…
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Thriving in a Rising Interest Rate Environment
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. Understanding the Cost and Cash Flow Implications The financial landscape is ever-changing, and the interest rate is one of the most impactful components. As interest rates rise, borrowers must prepare for potential increases in their loan costs. Understanding the…
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Summer Safety Tips for Truck Drivers
Warm summer temperatures can take a toll on vehicles, increasing the likelihood of breakdowns. Specifically, high temperatures can overheat engines, and hotter road surfaces may result in tire blowouts. Furthermore, fluctuating weather conditions, increased traffic, and sun exposure only add to the hazards during the summer months. Truck drivers must act cautiously and consider preparedness…
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How Artificial Intelligence Impacts Workplace Safety
Preventing workplace injuries and fatalities is crucial for organizations of all sizes and sectors. Without safety initiatives, organizations could experience increased incident rates, reduced productivity, and diminished staff morale. Fortunately, various technological solutions can help organizations mitigate potential hazards and protect their employees from harm. In particular, artificial intelligence (AI) has emerged as a valuable…
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Global Cyberattacks Grow by 8%, Report Finds
Weekly cyberattacks have increased by 8% globally compared to a year ago, according to a Cyber Attack Report by software company Check Point. Specifically, the report found that the average number of attacks per organization per week reached 1,258 in the second quarter of 2023—representing a year-on-year increase of 8%. This increase is significant, considering…
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Your One-stop Shop for Health, Safety & Transportation Compliance
*This post is an article about CMB Strategic Partner, Strategic HSE Systems Inc., that was published in Move Up Magazine. Find out more about transportation safety and compliance solutions here. Building a thriving business in the health and safety industry was an unexpected accomplishment for Samuel Elkins. Originally from the Maritimes, he moved to Peace…
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Potential Exposures During Flowback Operations
Although worker safety hazards in the oil and gas extraction industry are well-known, there is very little published data regarding occupational health hazards, such as the types and magnitude of risks for chemical exposures. This article describes flowback operations and addresses potential exposures during the process. Flowback refers to process fluids from the wellbore that…
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Case Study: More Than Rates—How a Flexible Lender Can Make or Break Your Business
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. The Business: Ascent Transport—A specialty hauling and mechanical solutions organization serving Western Canada. The Challenge: Ascent Transport was only six years old when it entered a period of transition in 2020. Spurred by the pandemic, the economy, and lack of onsite work,…
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Fuel Efficiency Best Practices for Fleets
Improving the fuel efficiency of a company’s fleet of vehicles can have many financial and environmental benefits, especially with rising fuel prices. Fuel can be one of the most significant and challenging expenses to predict and control. Therefore, vehicle fleet managers need to conserve fuel, maximize efficiency and reduce vehicle emissions by implementing fuel-efficient policies,…
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How to Prevent Employee Fraud
Employee fraud—when an employee knowingly lies to, steals from, or deceives their employer to make personal gains—frequently occurs among Canadian businesses. 80% of employers reported being victimized by employee fraud, according to a study by professional services organization Ernst & Young. Worse yet, small businesses face a higher risk of employee fraud than large corporations….
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Incorporating Life Insurance into Shareholder Agreements
*This post is from CMB partner Finuity Wealth. Find out more about group benefit solutions here. When starting a business or forming a corporation in Canada, it’s important to have a shareholders agreement in place. This legal document outlines the rights and obligations of the shareholders, as well as how the company will be managed…
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Creating Gen Z-friendly Workplaces
Employee expectations are evolving rapidly, and many Generation Z (Gen Z) workers are leading the revolution. Gen Z refers to those born between the late 1990s and early 2010s. Employees from this age group now make up an estimated 20% of the workforce. Today, these workers—many of whom observed older workers suffering from burnout—demand greater…
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Staying Safe and Compliant with Strategic HSE
*This post is from CMB partner Strategic HSE. Find out more about transportation safety and compliance solutions here. In August 2021, two Canadian-based businesses came together for a common cause. The safety & compliance-based solutions supplier, Strategic HSE, joined forces with fleet management system provider, Titan GPS, to ensure that companies in the transportation sector…
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Managing Cyber Risks in a Down Economy
During an economic slowdown, businesses often experience decreased sales and profit margins stemming from changing consumer behaviours, prompting them to reduce spending to avoid issues such as bankruptcy. In addition to these adverse effects, a down economy can also create heightened cybersecurity risks. Cybercriminals have historically capitalized on social and economic crises by leveraging public…
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Protecting Subcontractors: The Importance of Installation Floater Insurance
We know that as a subcontractor, you face many risks. From handling materials and equipment to transporting them to job sites, your property is constantly on the move and potentially exposed to unforeseen dangers. While commercial property insurance may not fully cover your assets once they leave your premises, there’s a solution that can offer…
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Farm Benchmarking Best Practices
Benchmarking is a technique used by businesses to compare their performance to others. Within agriculture, benchmarking can be used to monitor revenue, expenditure and farm operations data—including crop yields and animal performance—critical for business success. Benchmarking can offer a lens for decision-making by providing you with up-to-date facts and figures to use when making informed…