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Small businesses search for solutions amid crisis

Kevin Reynolds Business Management, Services & Risk Management

With each succeeding daily briefing from White House and governors’ offices across the country, small businesses are taking more and more of a blow. As sweeping new safety measures are enacted to curb the coronavirus pandemic, businesses have been left to wonder what comes next. A business environment that was very recently reaching 50-year-lows in unemployment, according to the U.S. Department of Labor, is now teetering on the edge with the economy grinding to a halt.

An employer’s guide to COVID-19: Top 5 strategies for keeping your…

Candice Gottlieb-Clark Business Management, Services & Risk Management

Business owners and leaders, there is no doubt that these are challenging times. COVID-19 has required you to change business practices overnight. Teams that normally buzz with momentum are now separated, and you must hope are still able to work effectively to get things done. Technology that was once optional for getting things done is now essential, whether your employees feel ready or not. While fear and stagnancy may be unavoidable in the first few days of change, this process is not going to be a short one.

5 ways leaders can stop people from panicking

Simma Lieberman Business Management, Services & Risk Management

If I get one more email from someone telling me "don't panic," I'm going to freak out. There are other ways of helping people calm their fears. I don't know about you, but whenever someone tells me not to panic or be afraid, I become more frightened. I feel that the person uttering those words is either not hearing me or trivializing my concerns. The coronavirus has interrupted our lives and businesses as we know it. As a leader, I want to share five ways you can help people remain calm and be present in their lives.

Eyes on the prize: Ideal leadership skills to harness for business growth

Indiana Lee Business Management, Services & Risk Management

We’ve all seen it happen. A million-dollar business idea. An extraordinary product. A service like no other. But it just didn’t work. It seems like the company was shuttered before they’d even opened the doors. But why did it happen? And how can you protect your business from a similar fate? The simple fact is, no matter how great the product, a company is only as strong as its leadership. So, what are the skills you need to cultivate in your own leaders to help your business thrive for years to come?

Studies: Older workers’ wages are declining

Grace Ferguson Business Management, Services & Risk Management

Since age brings experience, it’s easy to believe that older workers command more pay than their younger counterparts. But studies show a grimmer reality. According to The Wall Street Journal, "Americans under 35 report being happier with their paychecks than people over 55 for the first time since 2011." This conclusion is based on 2018-19 research by The Conference Board. The increased satisfaction among younger workers may be due to millennial and Gen Z workers experiencing faster wage growth than the general population.

Infographic: Burnout and chronic stress in the workplace

Brian Wallace Mental Healthcare

In the U.S., 77% of professionals — and 84% of millennials — have experienced burnout at their current job. A majority, 51%, have felt burned out more than once. Furthermore, almost 1 in 3 Americans visited a doctor about something stress-related in 2018. If you happen to be facing burnout, don’t despair. Find out how you can fight burnout and chronic stress with tips from this infographic.

Accepting the new virtual reality

Linda Popky Business Management, Services & Risk Management

As the coronavirus crisis escalates, more and more restrictions are being put in place: no large gatherings, no in-person classes at school, no sporting events, avoid air travel, cancel unnecessary meetings, etc. Many employers have closed their campuses and required employees to work from home — when they can. Many industries, like retail, hospitality, and personal services, can't just be packaged up and run remotely. But there are many others that could provide remote services — but have just never made it part of their offerings.

The groundhog effect for associations

Bob Harris and Sarah Gustafson Association Management

In the film "Groundhog Day," Phil Connors relives the same day, over and over, until he eventually gets it right. So many associations endure a similar situation without rectifying the repetitive scenario. The groundhog effect is when an association does the same things but treats the activities as if they are new and never been done before. Imagine the frustration of volunteer on the conference planning committee. They are assigned responsibilities for menus, speakers, and registration. They begin by asking, "Is this the first time this conference has been planned or are their records from last year’s committee?"

How (and why) businesses are ensuring employees become financially literate

Tory Barringer Business Management, Services & Risk Management

A worrying trend has emerged in the past decade since the global financial crisis: Even with a world of information available at our fingertips, Americans' financial literacy is dismal and only getting worse. A recently concluded study by the FINRA Investor Education Foundation found that only about one-third of Americans surveyed were able to correctly answer a majority of questions when quizzed about interest rates, inflation, financial risk and mortgage rates, down from 42% in 2009.

What small businesses need to know before filing tax returns

Seth Sandronsky Business Management, Services & Risk Management

What does the Tax Cuts and Jobs Act of 2017, perhaps President Trump’s signature legislative achievement, mean for businesses? We turn to the Urban-Brookings Tax Policy Center (TPC), located in Washington, D.C. "TCJA allowed businesses to deduct the full cost of qualified new investments in the year those investments are made (referred to as 100 percent bonus depreciation or 'full expensing') for five years," according to the TPC. But this is not a permanent change to the tax code.

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