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Determining Fair Compensation for Your Remote Workers

  • Some businesses have moved to a location-based model for employee compensation, reducing pay for workers in lower cost areas
  • Surveys show that employees are often willing to accept pay cuts in order to continue working remotely, but the practice also presents the risk of lower morale and disengagement
  • Employers have three broad options to choose from when deciding to set location-based pay rates
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Connecticut Business Makes Comparbly’s Best Compensation Rankings

  • Beiersdorf North America, a skin care products company based in Wilton, is among the top-ranked small and midsize businesses for employee compensation as ranked by Comparbly
  • Workers at the top-ranked companies were more likely to report satisfaction with their salaries, benefits, and raises
  • Comparbly also released rankings of companies with the best work-life balance
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ADP Report: Private Payrolls Grow by 568,000 in September

  • ADP report shows private payroll job creation of 568,000 positions in September
  • 63,000 positions created at companies with fewer than 50 employees
  • Leisure and hospitality leads job creation, followed by education and health services and professional and business services
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Business News Roundup, Oct. 6, 2021

A new warning on the debt ceiling, filibuster reform considerations, Biden expresses confidence in the Federal Reserve chairman, alternative building materials, and layoffs at a Connecticut drone manufacturer are among the top business news items this morning. National The White…

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Federal Reserve Data Shows Nontraditional Lenders Gaining Ground on Banks in Business Lending

  • Analysis of Federal Reserve report shows banks losing ground in commercial and industrial lending to alternative lenders
  • Bank and nonbank share of commercial debt expected to be roughly equal in fourth quarter of 2021
  • Banks could form partnerships or expand offerings to remain competitive
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CBIA: Labor Shortage is Top Issue Facing Connecticut Employers

  • CBIA’s 2021 Survey of Connecticut Businesses shows a slight improvement in optimism among business owners
  • Labor challenges are the most commonly identified barrier to growth, typically due to a lack of necessary skills
  • Most businesses have not established their own COVID-19 vaccine requirements, although a slight majority is in favor of a government mandate
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Commerce Department Establishes “Early Alert” System for Semiconductor Supply Chains

  • Commerce Department establishes early alert system to proactively address microelectronics and semiconductor supply chain disruptions
  • Department asking businesses and manufacturers to voluntarily submit information about disruptions
  • Semiconductor shortages have presented a major problem for several companies as production has not kept up with industry demand
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How Employers Can Manage a Return to the Office Amid Renewed COVID-19 Concerns

  • While many companies expected to return to in-office work around Labor Day, a new surge of COVID-19 upended these plans
  • Gallup officials discuss the issues facing employers as remote arrangements remain common
  • How companies can more forward as flexibility becomes a more crucial benefit for employees
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Restaurants Faring Worse Now Than They Were Three Months Ago, Survey Suggests

  • National Restaurant Association survey finds most restaurant owners saying business conditions have not improved for them
  • Delta variant, labor shortages, and higher costs identified as key issues
  • Trade group is lobbying for more direct relief to the food service industry and opposing some Biden administration proposals
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Business News Roundup, Oct. 5, 2021

A debt ceiling warning, advocacy for a shortened work week, small business challenges in implementing COVID-19 vaccine mandates, greater Connecticut bank profits, and a boost to Connecticut GDP are among the top business news items this morning. National Treasury Secretary…

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