Here’s news you can use in a constantly changing business environment, including how Michigan compares to other states in economic growth, what the change in minimum and tipped wages means for restaurants, Barbara Corcoran’s 7 tips for succeeding against all odds and more.

5. Room for economic improvement — Michigan’s growth rate is lower than 30 other states, in part because states like Utah, Colorado and Texas are growing so quickly. One thing the mitten state needs to improve to become more competitive is labor force participation. In October 2022, only 60% of Michigan’s eligible workers held a job, compared to 62.2% nationally. Learn more about Michigan’s sluggish economic growth.
6. Monumental shift for restaurants — Michigan’s minimum and tipped wages increased on January 1, and many restaurants are expected to shift their service concept. Changes will likely include a move toward more teamwork, more QR codes for ordering and fewer servers. Check out more information about this monumental shift for restaurants.
7. Wellness benefits trends — Companies with less of a physical footprint are looking at benefits in new ways to address the needs of remote workers. Discover how to build the best wellness package for your workforce.
8. Your team doesn’t need you to be the hero — As a leader, do you instinctively try to fix a crisis yourself? A U.S. Army colonel advises you to curb this tendency if you want your team to flourish. Learn how to trust your team in times of crisis.
9. The lessons Barbara Corcoran learned — A long-time icon of entrepreneurship still leans on lessons she learned early on. Explore Barbara’s 7 tips for succeeding against all odds.

Thank you to our Friday Five sources: Bridge Michigan, MiBiz, Employee Benefit News, Kellogg Insight and Inc.

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