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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.

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.

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.

Plan for 2021 looking on the bright side

Lloyd Princeton Business Management, Services & Risk Management

Mostly sunny with intermittent clouds and showers. That’s my forecast for 2021. It may seem overly optimistic at the moment, what with talk of more shutdowns in the weeks ahead and the standoff in Washington. I am confident, however, that this too shall pass, the ship will get righted, and we will enter calmer waters as the new year gets underway. Having gone through so many months of uncertainty and reversals this year, why should I expect the situation will improve in the next? Despite the recent resurgence of COVID-19 cases in many countries, we are making progress on preventing and treating the virus as well as on producing an effective and safe vaccine.

6 ways to finish strong at your spa in 2020

Elizabeth Donat Retail

With Thanksgiving and the holiday season just days away, it's time to make a plan to finish your year strong at your spa or medspa. We've experienced a year of ups and downs, and it has certainly shown us that with planning, tenacity and a lot of patience we can continue to do the work that we love. Follow my six tips in this article to finish 2020 on top and start the new year off right with some fun and festive ideas.

Do the restaurants of the future still need a dining room?

Linchi Kwok Travel, Hospitality & Event Management

It does not seem the coronavirus will be leaving us soon, although we have seen great progress recently for developing a vaccine. In recent weeks, many places have reported a surge of new COVID-19 cases. Some even resumed lockdowns and mask mandates, forcing restaurants to shut down indoor dining services again. As a short-term remedy, restaurants immediately shifted their offerings to curbside pickup and delivery services. Meanwhile, restaurants are testing new concepts to embrace the contactless self-service trend for the future. Here are some examples.

Experts hope plant-based burgers will reduce the need for factory farms

Scott E. Rupp Food & Beverage

Want fries with that? With that plant burger? That’s soon going to be a question for millions around the world at McDonald’s. The upcoming launch of McDonald’s vegan "McPlant" burger could feed many millions. Some think McDonald’s move to veggie burgers (along with many other chains making similar moves) could reduce dependence on factory farming, specifically beef production. In addition to "beef"-like veggie patties, the chain is testing chicken alternatives. The fast-food chain is behind the curve when it comes to rolling out plant-based products.

Changing suppliers: When it’s time to cut the ties

Anne Rose Business Management, Services & Risk Management

After some time in business, you’ve likely developed strong relationships with a certain set of suppliers. You know what they can do for you and when, you know their policies and procedures, and you’re comfortable that your goals and values are congruent. All well and good, but unless you periodically analyze the status of your relationships, it’s too easy to fall into complacency and make assumptions that are no longer valid. Then you risk misplaced loyalty. So, here are signs that it is time to critically assess your loyalty to long-standing suppliers, perhaps cut those ties, and look afield for new suppliers.

Sustainable food gains more popularity due to COVID-19

Bambi Majumdar Food & Beverage

The COVID-19 crisis shows that America is hungry for sustainable food systems — more than ever before. According to a report from The Business Research Company, COVID-19 has steadily pushed up the demand for local, sustainable, and organic food production. Consumers are more concerned about how food is raised and prepared. They are leaning towards organic, which emphasizes environmental protection, consumer health, and animal welfare. With the disruption that businesses have faced, there is a lot of focus on supporting local brands as well.

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