Companies big and small are using freelancers more than ever. And because they are classified as independent contractors, they don’t have full employee rights.
In this week’s roundup, one of the articles looks at the blowback of the passage of California Assembly Bill 5 (or AB5) from freelancers and other independent contractors. The California Trucking Association, the American Society of Journalists and Authors and the National Press Photographers Association some of the organizations suing the new law. And as more states are looking to pass similar bills, their independent workers and freelancers will undoubtedly also resist.
Speaking of workers, another article points out the difficulty in recruiting people from social media. According to a report from Clutch, one in four companies say social media is the least effective method of recruiting.
Keeping with the HR theme, do you know what to expect when you hire Zoomers and Millennials? Even though they might be close in age, the Pew Research says their experiences, needs and actions are diverse enough to pay attention to before you hire them.
The weekly roundup covers a wide range of issues. Take a look at what is in this week’s offering.
Employment
How Employers and Independent Contractors Remain Independent under CA AB5
California sought to make it more difficult for businesses to hire independent contractors with the passage of California Assembly Bill 5 (or AB5). But the gig economy shows no sign of slowing down. A new study from Mastercard predicts double-digit annual growth for the industry over the next five years. It projects gig economy transactions will reach $455 billion by 2023.
Management
What to Expect When Hiring Zoomers
Can’t stop confusing your Zoomers and millennials? When it comes to hiring, the differences matter. According to Pew Research, millennials were born between 1981 and 1996 which makes them 24 to 39 years old in 2020; Zoomers (or Zers or Generation Z) were born starting in 1997, so the oldest turn 23 this year.
Marketing Tips
Free Book Excerpt: Ignore Your Customers (And They’ll Go Away)
Businesses all agree: you must serve customers well. But in today’s always-on digital ecosystem, this has been ramped up to the umpteenth degree. If you ignore your customers on the many different channels in which they communicate, they might just go away — for good. Micah Solomon’s book, Ignore Your Customers (And They’ll Go Away), hammers this point home.
Small Business News
1 in 4 Companies Say Social Media is the Worst Place to Recruit Talent
One in 4 companies (24%) say that social media is the least effective method of recruiting. 80% of businesses believe that interviews are an essential way to hire the best talent. However, 21% of companies say they regret relying on interviews alone in the hiring process, and instead say they had wished they had also tested candidates’ skills.
Pompeo Visits Ethiopian Co-working Space Promoting Entrepreneur Liberation
U.S. Secretary of State Mike Pompeo visited Ethiopia this week trumpeting a message of entrepreneurial liberation. Pompeo Visits Ethiopia On Wednesday, Pompeo spoke at the African Union, addressing government and business leaders from across the continent.
Big Bank Lending to Small Business Hits Record High
Are you struggling to secure a loan from a small bank? If yes, then it is time to reach out to a big bank. According to the latest Biz2Credit Small Business Lending Index™, small business loan approval rates at big banks ($10 billion+assests) reached a new record high in January 2020. The loan approval percentage for small businesses at big banks touched 28.
71% of Consumers Prefer Buying from Companies Aligned with Their Values
Seventy one percent of consumers prefer buying from brands that align to their values. This statistic was unveiled by 5W Public Relations’ 2020 Consumer Culture Report. Brand Values Alignment Millennials find buying from companies that share their values even more important. In fact, 83% of this demographic stress the importance of value alignment.
FTC Stops Deceptive Advertising Sales to Small Businesses
Two media production companies based in Oregon and their owner have agreed to settle Federal Trade Commission charges. This follows a court hearing. The commission says the companies mislead small businesses about “exclusive” advertising placements.
Social Media
What is Social Commerce?
If the past holiday season was any indication, social commerce is set to surge in the 2020s. According to research from Smartly.io, a social media advertising automation platform, consumers are now shopping via social media. And social advertising influences their purchases.
Startup
This Company Says It’s the Airbnb of Boats
GetMyBoat, is a startup that calls itself the “Airbnb of Boats.” This app lets interested people rent boats in many different countries. Small Business Trends contacted Val Streif, marketing manager for GetMyBoat, to find out what makes this enterprise successful. He started by making some big claims.
How One Entrepreneur Went from Getting Robbed to Being a Millionaire
AquaVault is a portable outdoor travel safe that protects your valuables while you swim on vacation. Small Business Trends contacted Jonathan Kinas, Co-Founder/ Managing Partner, Aqua Vault Inc, to learn the story behind this product. Like a lot of great products, Kinas pointed to the old adage that necessity is the mother of invention.
Everything You Need to Know About a Mastermind Group
People have used mastermind groups for as long as they have communicated with each other. But it was Napoleon Hill in his best-selling book Think and Grow Rich who provided clear definitions and popularized the concept. Napolean Hill called the mastermind principle “the master key to the attainment of your major purpose in life”.
Why Thinking Small Will Get You Closer to Your Ultimate Goals
There’s no lack of people telling you to go find your passion and dream really big.
Technology Trends
How to Clean Your Computer – And Why It’s So Important
Your computer is probably one of the most important tools you use for running your business. So you need to do everything you can to keep it in quality shape for as long as possible. Something as simple as cleaning can dramatically impact the performance and longevity of your device.
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