3.29.19

Friday Five Business Briefing – March 29, 2019

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Here’s news to help you run your business better, including how Michigan’s new Paid Medical Leave Act works, an effective way to increase employee retention, and how the popular social media app TikTok works.

  1. If you have 50 or more employees, you must know about Michigan’s New Paid Medical Leave Act — Starting today, employers are subject to a new law that specifies employees accrue 1 hour of paid sick leave for every 35 hours worked, up to 40 hours per year. Read the summary for more details on how the new law works.
  2. Selling in 2019 vs. 1999 — People skills are still important, but today’s most successful entrepreneurs use technology and data to drive sales. Watch how here.
  3. This one change could boost employee retention — At CollegeWise, employee turnover is nearly zero. CEO Kevin McMullin attributes their success in employee retention to a different concept for one-on-one meetings where managers come only with questions, and it’s their job to empathize and learn. Get the full story.
  4. Sleight of hand(writing)? — A study at Ohio State University found that handwritten fonts can make food seem healthier and make solo diners feel less lonely. Read how fonts affect restaurant customers here.
  5. TikTok moves in on Snapchat territory — If young people are your market, you need to know about TikTok, the Chinese-owned app with 500 million monthly active users and growing. (For comparison, Twitter has 326 million). Get up to speed on this popular app with The Clueless Parent’s Guide to Understanding TikTok.

Thank you to our Friday Five sources: Michigan Chamber of Commerce, Entrepreneur, Inc., Food & Wine, CNBC and The Next Web.

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

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