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US economy gains 245,000 jobs; unemployment rate drops to 6.7%

Seth Sandronsky Business Management, Services & Risk Management

U.S. employers added 245,000 nonfarm jobs in November after 638,000 new hires in October and 661,000 in September, according to the federal Bureau of Labor Statistics. November’s unemployment rate dropped to 6.7% from October’s 6.9% and September’s 7.9%. The November federal jobs report reflects an easing of COVID-19 restrictions to slow coronavirus transmission, which have been unsuccessful as local and state governments resume restraints on gatherings of businesses and public places. November’s national nonfarm jobless rate has decreased 8.0 percentage points from an April high. However, November’s rate is 3.2 percentage points higher than February’s figure.

Optimizing your business’ ability to pivot

Indiana Lee Business Management, Services & Risk Management

2020 has been a challenging year for everyone, businesses and individuals alike. What makes it so unusual is that the impact has been universal. Every nation around the world has been impacted by COVID-19 and the economic uncertainty that followed. What has become clear is that companies need to be more agile and flexible than ever. You never know what challenges will come, and a business’s ability to pivot can mean the difference between success and failure. How do you optimize your company’s ability to stay competitive in challenging situations? Here are some tips you can use.

Quantitative risk analysis: Strengths and weaknesses

Dr. David Hillson Business Management, Services & Risk Management

Many people view quantitative risk analysis with a mixture of fear and awe. It’s clearly a very powerful technique in the risk professional’s toolkit, but it seems to be hard to use. As we decide whether it’s appropriate for us to include quantitative risk analysis in our risk approach, we should consider the strengths and weaknesses of this technique, so that we can make a balanced judgment.

How subscription-based marketing can be a key tool in your digital strategy

Lisa Mulcahy Marketing

As a digital/social media marketer, you know that an especially crucial task for your brand, as it moves through the pandemic and beyond, is customer retention. Your goal in this respect is to engage your existing demographic's interest in your products and services so they stay loyal and give you the repeat business you need. You also want to keep attracting new eyeballs to what you have on offer. An excellent way to accomplish all of this is with a subscription-based marketing strategy.

Study: Number of adults seeking additional education surges

Sheilamary Koch Education

Interest in pursuing additional education is greater now than prior to the pandemic, according to results of a recent poll. This trend foresees an exciting year ahead for the savvy education marketer, teacher or even prospective student. In a study of more than 1,200 adults by the higher education marketing and research firm SimpsonScarborough in conjunction with LinkedIn, 47% said their interest in furthering their education has increased since the onset of COVID-19 while 67% said they currently are actively researching education options and 53% plan to enroll within the next 6 months.

Why the federal ban on diversity and inclusion training is bad for business

Simma Lieberman Business Management, Services & Risk Management

A September executive order by the White House bans diversity and inclusion training for the federal government as well as for contractors and anyone who does business with the federal government. The letter that accompanied the order calling for a halt to any scheduled diversity training described it as divisive, propaganda and unpatriotic. We live in a diverse society, our workplaces continue to be more diverse, and business continues to be global. In order to do business on a global level and provide the best products and services to a diverse customer base, organizations need to help their employees learn the right skills.

Infographic: The psychology behind naming your business

Demetrius Harrison Business Management, Services & Risk Management

A business isn't complete without a fitting name. Luckily, achieving a strong business name is only a few steps away. First, take the opportunity to mention any keywords and phrases in your brand's name. If you need help with this, think about how you do business, and who you do business for. Continuing on, consider how you will brand your business name, and check whether or not it's available on social media platforms. Find out more of the best steps to take with this infographic.

Signs that your business may scream, ‘I’m cheap!’

Anne Rose Business Management, Services & Risk Management

People assume that your public image matches the product or service you’re offering. How else could they gauge your quality if they don’t know you? The visible image should reflect the invisible. If you have a cheap or unprofessional image, the public will assume your product is likewise cheap and unprofessional. That’s not a good scenario if you’re trying to sell high quality. Here are some of the ways your professional business is accidentally screaming, "I’m cheap!" despite your protestations to the contrary.

The smart strategy that’s helping women become CEOs

Gail Short Business Management, Services & Risk Management

Recently, Fortune Magazine reported that women made the biggest gain ever in capturing CEO positions this year. Thirty-seven chief executive officers on the Fortune 500 list for 2020 are women. However, the number is still puny compared to men. The problem is that public companies tend to hire CEOs with prior CEO experience. That puts many women at a disadvantage since, unlike men, they are less likely to have CEO experience. But in a study published in the Harvard Business Review last year, two researchers reported that for many women, the path to becoming CEO may lie with serving on corporate boards.

A look at the benefits of getting an MBA

Amanda Kowalski Business Management, Services & Risk Management

In business, sometimes it’s hard to stand out from the crowd. You work hard, but so do a lot of your co-workers — and they are looking to get ahead just like you are. Maybe an extra degree will push you over the top for that promotion. According to U.S. News & World Report, the National Association of Colleges and Employers say that the average starting salary for Master of Business Administration (MBA) graduates is $79,043, more than $20,000 higher than those graduating with a bachelor’s degree in business. And it’s not just the first year that salaries are higher for MBA grads. The returns multiply over time like any good investment.

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