Category: Financial Planning

By Jerome Chiaro

Free restaurant employee handbooks from trustworthy online sources provide the freedom and convenience that small restaurant owners need to save money and time in running their business. However, there are certain risks in using free restaurant employee handbooks without crosschecking whether the generic policies fit the needs of your restaurant business.

Before you publish your employee handbook, consider the following points:

1. Have you consulted a lawyer or a law firm to verify the contents of your employee handbook?

It seems easier to just download templates of free restaurant employee handbooks, and then, chop up the sections you need and reassemble them together. However, keeping the text in your employee handbook generic might present a problem in the future.

The additional expense of hiring a lawyer is worth it when you find your business in jeopardy over a labor dispute. The words you choose will determine the way your employees understand your work policies.

Your lawyer will also counter check your policies against those required by your state as well as additional sources, such as city ordinances and the policies set by the US FDA regarding food handling and sanitation.

2. Are you practicing at-will employment?

Employing at will may seem practical for a small business, but it also leaves you vulnerable to disputes, such as wrongful termination charges. This limitation is under the implied-contract exception, which is one of three exceptions to the at-will employment rule.

Although you hired an employee without a written and signed contract, the presence of a restaurant employee handbook translates into a binding contract within the following conditions:

a. When you state that an employee can be terminated due to “just cause,” you cannot fire any of your restaurant staff without the presence of just cause, which defies the nature of at-will employment.

b. When the employee handbook explicitly states the standard procedures for employment termination, and you suddenly fire one of your employees without due process, then you are liable for breach of contract claims.

c. Avoid using binding language, such as referring to a job as “career” or providing policies for promotion and demotion, which are not possible in at-will employment.

3. Have you made provisions for cultural competency in your restaurant employee handbook?

Most workplaces today are multi-cultural and multi-lingual. In recognition of this diversity, your employee handbook as well as postings in your restaurant should be translated into one or two other languages. The most common foreign languages include Spanish and Chinese.

Aside from tri-lingual translations, your restaurant employee handbook should also include provisions for holidays usually observed by other cultures. For example, Halloween may not usually require absence from work, but the Day of the Dead does. Visiting graves and participating in a procession are traditional practices for this special day in November.

Free restaurant employee handbooks are practical options compared to buying ready-to-use handbooks, but before you can use one of them as your own policy manual, you will have to tweak the content to strengthen the document’s legal validity and to adhere to accommodate diversity in the workplace.

About the Author: Jerome Chiaro is a Restaurant Owner & Consultant out of Orange County, CA. Did you know that 95% of restaurant owners and managers spend over 55 hours per week slaving away at their restaurant! He can help you WORK LESS and PROFIT MORE… Claim your copy of his Free Restaurant Forms Toolkit. Success doesn’t happen alone! Join a mastermind of restaurant owners and a wealth of resources, at his Free Restaurant Forms Blog.

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By Carrie Reeder

Refinancing a home loan with poor credit is a great and effective way to resolve some of your credit problems. Individuals with poor credit are likely unable to pay creditors on time or have many past due credit accounts. To fix credit problems, most people simply need extra cash to payoff debts. With this said, homeowners hoping to improve their credit should consider refinancing their mortgage.

When Is Refinancing a Good Idea?

Although there are numerous benefits to refinancing, each situation is different. To gain the most from a refinancing, the circumstances must be right. For example, if you have a high interest rate, refinancing is ideal for obtaining a lower rate. Secondly, homeowners with an adjustable rate mortgage may decide that now is the time to lock in at a fixed rate. Whatever the reason for refinancing, make sure it’s worth the closing fees.

Refinancing creates a new home loan. Thus, the procedures are comparable to attaining the original mortgage. If the purpose of refinancing is to payoff debts, opt for a cash-out refinance. This will add to the total amount owed on the mortgage. Before accepting this option, make sure your income can accommodate a higher mortgage payment.

Getting Approved with a Low Credit Score

If you have bad credit, getting approved for certain types of loans or lines or credit is difficult. However, because homes and automobiles are deemed secured loans, these are easier to acquire with poor credit. Hence, refinancing a home with a negative credit rating is realistic.

Needless to say, there is a disadvantage to accepting a loan with bad credit; and it has a lot to do with interest rates. Those who gross a sizeable income are likely unconcerned about interest rates. On the other hand, if you earn a modest income, getting the lowest rate is perhaps a major concern.

Lower rates amount to affordable monthly payments. To get the lowest rate possible with bad credit, homeowners should attempt to boost their credit score a few points. This requires little effort. Simply submit timely payments to creditors and attempt to reduce debts.

Sub Prime Refi Lenders

Another tactic for getting a low-rate refi with bad credit is using a mortgage lender that offers bad credit or sub prime loans. Your current mortgage lenders may offer these types of loans. If not, contact a mortgage broker and complete a quote request. Brokers are perfect for locating a suitable bad credit lender to handle your mortgage refi.

About the Author: Go to abcloanguide.com/lessthanperfectcredit.shtml for more information on Poor Credit Mortgage Refinance.

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