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SBA Accepting Public Comment on Proposed Size Standard Changes to Increase Access to Agency’s Loans

  • U.S. Small Business Administration accepting comments on proposed rule changes aimed at expanding access to its loan programs and contracting opportunities
  • One change would modify the averaging period for calculating a small business’s number of employees
  • Another modification would allow businesses to choose a longer averaging period to calculate annual revenues
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Connecticut Adds Another 5,300 Jobs as Unemployment Rate Falls to 6.4 Percent

  • Connecticut adds 5,300 jobs in October, while September’s gains are revised upward
  • The state has seen 10 consecutive months of job growth and has recovered 72.8 percent of the jobs lost at the outset of the COVID-19 pandemic
  • State officials say the data shows economic strength, though Connecticut’s unemployment rate also remains above the national rate
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Business News Roundup, Nov. 19, 2021

Initial approval of a major social policy and environmental bill, this legislation's impact on the deficit, support for COVID-19 vaccine booster shots, consumer plans to respond to inflation, a strategy shift from a major pharmacy chain, and a groundbreaking for…

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SBA Lending Hits Five-Year High in Connecticut

  • Lending through the U.S. Small Business Administration’s traditional programs hits a five-year high in the 2021 fiscal year
  • The bulk of the funds provided came through the 7(a) program, where the SBA helps guarantee loans
  • Connecticut SBA district director joins commitment to improve equitable access to the agency’s financing options
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Employees in Need of Mentorship Often Don’t Seek It; How Your Company Can Broaden its Approach

  • Study looks at impact of mentorship on productivity and retention of employees
  • Researchers conclude that broader mentoring programs yield better results than efforts targeted at individual employees
  • Optional mentoring programs may have limited reach due to factors such as employees’ shyness or overconfidence
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CTNext Extends Governor’s Innovation Fellowship Deadline to Dec. 15

  • Program to pair recent graduates with innovative Connecticut companies extends its deadline to Dec. 15
  • Governor’s Innovation Fellowship was established as a pilot program and has been extended statewide for the spring 2022 cohort
  • Participants receive benefits such as a growth-track position and a $5,000 grant,
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OSHA Suspends Implementation and Enforcement of COVID-19 Vaccine Mandate, For Now

  • Occupational Safety and Health Administration awaiting further court action before taking any further implementation or enforcement steps on an emergency temporary standard regarding COVID-19 vaccinations in the workplace
  • Decision follows federal appeals court decision to uphold a temporary stay on the rule
  • Employers no longer bound to OSHA deadlines to establish the rule, though the White House is encouraging companies to set up their own mandates
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Don’t Be Passive About Employee Turnover; How You Can Keep Workers From Walking Out

  • Gallup data shows that most departing employees think their company or manager could have done more to retain them
  • Checking in with employees more frequently can help clue you in to frustrations and aspirations
  • Managers can also take an active role in recognizing achievements and making workers aware of advancement opportunities
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Meetings Have Surged Since the Start of the Pandemic, and May Be Contributing to Employee Burnout

  • Report finds that meetings have grown substantially since the start of the COVID-19 pandemic, with one-on-one consultations skyrocketing
  • Increase in meetings is meant to improve collaboration, but can also impede productivity, lengthen workdays, and lead to employee burnout
  • Leaders should pursue a strategy that adequately balances one-on-one check-ins with work-life balance
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