Tag: US Economy

Staying connected while working from home

Munear Ashton Kouzbari Offers Bosses Direction on Managing a Team Working from Home

Posted on by scott.hodges

Most of us spend a substantial portion of our waking hours at our workplace. Or at least we did before the corona pandemic upended our lives and forced us to spend all our time at home. Managers and employees, CEOs and support staff, are all navigating this new reality. Munear Ashton Kouzbari offers insight for bosses and administrators looking to weather the transition to remote employment successfully.

Have your Resources Ready

The 21st century is ready for working from home. There are so many free or low-cost options to establish and maintain a virtual office team.  Sit down with your tech crew and review your specific needs. Then you can select the set-up that is most suitable for you and your employees. Some managers mistakenly believe that they can rely exclusively on email to communicate with workers. You’ll want to use some kind of chat platform for regular check-ins and maintain an “administrator only” channel for updates.  Make sure that all the internal platforms and files that employees need to do their jobs are available outside of your office network.

Munear Ashton Kouzbari recommends the best tools for your business

This whole work-from-home thing happened very quickly. Few employers had time to properly train staff on using all the remote tools. Tech support will likely need to do some online training sessions, or even one-on-one calls, to guide people through the new processes. It will take time, but it is worth the investment.

Also, if practical, let employees take office equipment home. Laptop computers might be obvious, but office chairs, screens, keyboards, and even desk lamps can greatly enhance the home office experience.

Be Clear and Reasonable

Just because your team is now scattered, it doesn’t mean you should not be clear about what is expected of them. Set well-defined parameters of acceptable behavior and gently remind everyone that working from home is not a pseudo vacation. If you had weekly meetings in the office, maintain that schedule in a virtual forum (zoom, workspace, etc.). Attendance, and reasonable attire, should be mandatory.

BUT, keep in mind that many of your workers will also be juggling childcare during the pandemic. While most workers can stay task-focused while in the office, school and daycare closures have most parents struggling to find a work-life balance. When scheduling online meetings and calls, give plenty of advanced notice and ask for optimal times. Give as much leeway as possible on deadlines and understand that most parents will be putting in a lot of late-night hours once the kids are asleep.  

Maintain the Positive Office Environment

One of the reasons social distancing is such a struggle for most of us, is because we are social beings. As bosses, it is important to maintain a friendly and positive office culture so that employees enjoy coming to work and spending time with their colleagues. Now that working from home is the reality, your teams are probably missing each other, which can have a tangible impact on output. Use the tools mentioned above not only for work-related meetings but also to simulate kitchenette camaraderie.  Encourage colleagues to connect and consult with one another.

Encourage everyone to work together, even when they are apart

Communicate Regularly

When you and your staff are working remotely, keep the lines of communication open. Now that they can’t just pop their head into your office, make sure they know how to find you—and that you want to be found. Touch base with each member of your team on a regular basis. Whether you call by phone, ping them on a workplace platform, or initiate a video chat, take the time to genuinely express interest in how they are doing. This reality isn’t easy for anyone. Show them that you care about more than just the bottom line.  Your workers are likely to surprise you with their resilience and motivation to do well in this less-than-optimal situation. Use this time to uncover hidden talents or interests in your employees that didn’t necessarily come across in the regular work environment.

As we all figure out how to work through the current corona crisis, it is worth viewing this period of working from home as an opportunity rather than a challenge. Digital teams and communities are effective. Productivity, engagement, and even business growth can be obtained, even remotely, when managed correctly.

Small Business See Major Growth in 2018

Posted on by scott.hodges

American small businesses are thriving, and investors prefer them over larger companies this year. The Russel 2000 index, which includes largely the shares of smaller businesses, is up 7% this year and trading at an almost all-time high. Other indexes, including the Dow and S&P 500, which include major stocks such as Apple, Coca Cola and Boeing, have only increased by 1% or 2%, each approximately 5% below record highs.

The shift is a result of several factors, including some changes within the US economy itself. First, smaller businesses like those in the Russel 2000 are growing profits at a much faster rate than larger corporations, with projections of another 40% increase this year and an additional 23% in 2019. According to Nationwide chief of investment research Mark Hackett, “President Donald Trump’s tax cut and deregulation policies favor smaller companies over large, multinational blue chips.”

Indeed, the companies in the Russell 2000 are supported primarily by the American economy, while global corporations like Coke generate revenue from all over the world.

Small businesses have also paid higher taxes in the past, so recent corporate tax cuts have had a greater impact on them than on their larger counterparts.

Small businesses can also be considered lower risk, as they are influenced less by international market fluxes. US-China trade talks and global growth have little to do with local American businesses.

“A lot of large caps stumbled earlier this year and there has been volatility. People are looking to small caps. There are just more opportunities,” said Dave Harden, president and CIO at Summit Global Investments.

Analysts believe smaller businesses will continue to grow in the U.S. in the coming years, carving a new, permanent space in the stock market.