3.13.20

Friday Five Business Briefing – March 13, 2020

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Here’s news to help you run your business better, including how Michigan manufacturers are handling supply chain challenges brought on by the coronavirus; how to prepare an emergency remote-work plan for your team; and movies to inspire your entrepreneurial spirit.

  1. Creative supply chain solutions in the face of coronavirus outbreak — West Michigan manufacturers are looking closer than ever at their supply chains and preparing for the worst at all times. Even before the coronavirus outbreak, trade tariffs forced manufacturers to seek solutions. One tactic is dual-sourcing, which some companies use to hedge against risk, especially with critical components. Read more.
  2. Speaking of viruses, what’s your company’s emergency remote-work plan? Disruptions from widespread illness could result in travel restrictions, suspension of mass gatherings or the need for employees to work remotely. Harvard Business Review offers five steps to help your organization respond to potential disruption. Even if you don’t have to put your plan into action because of a health emergency, you’ll be better prepared for any event that challenges operational continuity.
  3. The cost of ignoring the ADA — The Americans with Disabilities Act requires employers to go through an interactive process when determining what reasonable accommodations might be made for employees. Inflexible leave policies that require employees to be 100% healed and 100% fit could set up a company for a lawsuit. Learn more about how to comply with the ADA rules on reasonable accommodation.
  1. Competing for talent? Focus on wellness — Health and wellness benefits are becoming a top priority for employees when it comes to choosing where to work. Discover five benefits of wellness in the workplace in addition to attracting talent.
  2. Movies to inspire entrepreneurs — Recharge your batteries this weekend with these seven movies on Netflix that will entertain and provide insights that could help you run your business better.

Thank you to our Friday Five sources: MiBiz, Harvard Business Review, Inc., Boss Magazine and Entrepreneur.

Do you have business banking questions? Contact our knowledgeable commercial loan officers or call 800-991-2221. We’re here to help you grow your business!

 

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Consumers business services

Do you have business banking questions? Contact our knowledgeable commercial loan officers. We’re here to help you grow your business!

Learn more

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