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Survey: 43 Percent of Workers Believe Advancement, Mobility Opportunities Are Lacking at Their Workplace

  • Poll finds that 43.2 percent of employees don’t believe their company offers opportunities for internal mobility
  • The survey highlighted a disconnect between employees and employers, who often said they were looking to hire internally
  • Findings suggest a contributing factor to the “Great Resignation,” as workers expect they need to look outside their company for advancement
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Banking Groups, Republicans Pushing Back Against SBA Direct Lending Proposal

  • Build Back Better Act includes several U.S. Small Business Administration initiatives, including one allowing the agency to make direct loans through the 7(a) program
  • Proponents say the expanded ability will help close gaps in capital access and help underserved entrepreneurs
  • The provision has received pushback from Republicans and banking groups, who argue that it is less efficient than private lending and more vulnerable to fraud
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SBA Emphasizes Support for Women Entrepreneurs by Elevating Office of Women’s Business Ownership

  • U.S. Small Business Administration announces that it will elevate its Office of Women’s Business Ownership to report directly to the SBA administrator
  • Move aims to strengthen the SBA’s support for women-owned businesses, which have grown substantially in recent decades
  • Office coordinates programs and Women’s Business Centers that support women entrepreneurs
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Is a Fully Remote Work Model Harmful for Your Employees?

  • Remote work has become more popular as a result of the COVID-19 pandemic, with employees enjoying benefits such as avoiding a commute
  • Author specializing in employee engagement and workforce leadership cautions that fully remote work arrangements come with significant downsides as well
  • Lack of interpersonal connection can eliminate more spontaneous interactions, create less of a sense of belonging at a company
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Study: Managers Are Often Unaware of How Their Team Completes Its Work

  • Research finds that managers are unaware or could not remember 60 percent of the work their teams are doing
  • Managers surveyed for the study said they thought they should be able to account for 80 percent of their team’s work
  • Researchers suggest that machine learning algorithms can help close the gaps in understanding
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Business News Roundup, Dec. 7, 2021

Easing market disruptions related to the Omicron variant, a sharp dip in U.S. productivity, shrinking household savings, climbing COVID-19 hospitalizations in Connecticut, and a reminder on Connecticut's tax amnesty program are among the top business news items this morning. National…

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First Deadline on OSHA COVID Vaccine Rule Arrives; How Should Businesses Respond?

  • Emergency temporary standard set by Occupational Safety and Heath Administration set first deadline for this week
  • However, OSHA has suspended implementation and enforcement related to the standard as it faces a challenge in court
  • Businesses can familiarize themselves with the rule’s requirements in case the standard is upheld in court
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Connecticut DOL Labor Shows Smaller Firms Lost Proportionately More Employees in the COVID-19 Pandemic

  • Data from the Connecticut Department of Labor shows an annual drop of 9.9 percent in the state’s workforce between Q2 2019 and Q2 2020
  • Smaller businesses lost proportionately more employees than larger ones due to the impact of COVID-19
  • However, Connecticut’s small business losses were also less pronounced compared to neighboring states
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Record Share of Small Businesses Report Labor Quality Challenges in NFIB Report

  • Record share of small business owners in National Federation of Independent Business survey cite labor quality as their top concern
  • More than half of small businesses overall say they are having trouble finding qualified applicants
  • A strong share of small business owners was also increasing their compensation in an effort to attract talent
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OSHA Extends Comment Period on Rulemaking Regarding Heat Hazards

  • Occupational Safety and Health Administration extends comment period on proposal to address extreme heat hazards
  • Comments will be accepted through Jan. 26
  • OSHA is stepping up efforts to address workplace heat hazards, which it estimates have resulted in considerable economic losses
Read more
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