3.3.23

Friday Five Business Briefing – March 3, 2023

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Consumers business services

Do you have business banking questions? Contact our knowledgeable commercial loan officers.

Here’s news you can use in a constantly changing business environment, including the effects of irregular schedules on workers, why layoffs are counterproductive, how coaching leads to success and more.

  1. The effects of unpredictable schedules — A Harvard Kennedy School survey shows that employees working jobs with irregular scheduling experience increased economic security, decreased access to affordable childcare and heightened levels of stress and exhaustion. Read more about the survey results.

 

  1. When layoffs are counterproductive — Financial accounting distorts the value of human capital as well as hiring, training and benefits. Accounting rules that treat human capital as an expense to be cut rather than an asset to protect are behind the problem. Learn about the hidden costs of this practice.

 

  1. Coaching leads to success — Coaching employees pays off for organizations and individuals. HR professionals in strong coaching cultures report 60% above average revenue. Individuals working with a leadership coach lead to 70% improved work performance. See more stats on this infographic.

 

  1. Which way is the economy headed? Easing inflation and strong employment numbers are good news, but many CEOs are wary that high interest rates and potential layoffs will diminish consumer spending power and slow the economy. Get more details from the CEO poll by the Detroit Regional Chamber.

 

  1. Anyone can learn anything they want — While initial knowledge varies substantially across students, learning rate is “astonishingly” similar across students. The key is practice, and it takes on average seven sessions to master a particular knowledge component. Learn more about the rule of 7.

Thank you to our Friday Five sources: Fortune, Michigan Department of Labor & Economic Opportunity, Impact Group, Detroit Regional Chamber and Inc.

Do you have business banking questions? Contact our knowledgeable commercial loan officers online or call 800-991-2221. We’re also available to help in person at your local Consumers office.

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Consumers business services

Do you have business banking questions? Contact our knowledgeable commercial loan officers.

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