Mission Statement:
"We are an organization that supports our business community. We provide resources for our members to stimulate their growth and make our business community a better place to conduct business"
Vision Statement:
"The Chamber is a recognizable and sought after resource for businesses in the New Berlin community"
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The Great Resignation? More like The Great Renegotiation
January 25, 20226:30 AM ET
There's been much hubbub in recent months about what's been dubbed "The Great Resignation." The popular phrase refers to the roughly 33 million Americans who have quit their jobs since the spring of 2021.
Some — pointing to the difficulty of businesses in recruiting workers and spectacles like the immense popularity of the "Anti-Work" thread on Reddit — have gone as far as to suggest this record-breaking trend is a movement of young, able-bodied Americans rejecting work altogether.
But it's pretty clear that, at least for the vast majority of Americans quitting their jobs, that's not the case. Americans are not en masse rejecting consumerism, moving off the grid, and living off the land.
Most still need money. Some of those quitting are older workers deciding to retire early in large part because their finances have been buoyed by surging stock and housing markets.
Others are secondary earners who have stayed home because they have had to take care of kids while schools have closed due to COVID-19 — or because, more simply, working face to face during a pandemic sucks.
Quitting to get better pay or treatment isn't unusual
However, most Americans quitting their jobs merely seem to be aiming to get better jobs.
While we are living in a bizarre pandemic economy with countless strange trends, this isn't necessarily one of them; it's pretty standard to see a swell of workers quitting their jobs for greener pastures when the job market is strong and there are lots of shiny opportunities available.
When the stars align as they're aligning now, workers gun for better pay, perks, flexibility, and treatment. Bargaining power has shifted in their favor.
That's why we at Planet Money think it might be better to call what's going on "The Great Renegotiation".
We coined this term in a recent episode called "No shortage of labor stories." In that episode we spoke with Karin Kimbrough, the chief economist of LinkedIn. Kimbrough approved of our rebranding, and she pointed us to her company's treasure trove of data to back it up.
"There are twice as many jobs on our platform as there were a year ago," Kimbrough said. With lots of open jobs, workers have greater power to negotiate a better position.
As for why the labor force participation rate remains significantly smaller than before the pandemic and it's still hard for employers to fill open jobs, Kimbrough said: "I think that the workers are there, but the terms haven't yet drawn them off the sidelines.
They are hesitating or being more choosy for a variety of really good reasons. They may say, 'I don't want to take the risk, and in order to make it worth my while to go out there and work again, you need to actually pay me a little bit more.'"
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Weren't able to join the 2022 State of American Business virtual event this week? Or, just want to watch it again? Click here to view the recording of the event and continue reading below to find links to recordings from key speakers.
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Hello Friends,
I've tried not to ask too much of our membership, however now I need to ask a personal favor. It is very important that we have good turnout for our February 10, Legislative Update Breakfast meeting. Let me explain.
First our main presenter, Ethan Helier from the US Chamber, is driving in From Minesota to address our members. A full house would let him know that his time and efforts are really appreciated by our chamber.
The same holds true for the rest of the presenters that have taken time out of their schedules to prepare and deliver a specific message for our members.
Second, and this is really important, it's the day when I officially hand over the reigns to my replacement - your new President CEO, Tina Conley. This marks the beginning of the next evolution of the New Berlin Chamber of Commerce. This is your first opportunity to meet the new leader and welcome her to the membership. Again, a full house would show support for her and make her feel welcome.
And You will learn from our speakers what's instore for New Berlin, Waukesha County, and the state of Wisconsin from the perspective of our elected leaders.
I realize that we are still impacted to some degree by Covid, and some of you may be working remotely. That being said, if at all possible, please make an effort to attend this event and show you support for our new leadership!
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Featured Stories: INC.
It Took Me 15 Years to Realize the Give-Get Rule Is the Secret Weapon of the Most Successful Business Leaders The way ahead in business - and life - is by reframing our interactions as give-get engagements. It's not selfish; it's how we grow.
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Over the course of my career, I've spent a lot of time with sales experts, business coaches, and leaders. Their goal is more or less the same: Grow.
Grow your client base, grow your revenue, grow your impact. Some have claimed to have the winning recipe for that growth -- never mind your industry or niche.
I never could pin it down it, though.
And then I figured it out. That's not to say I now have the secret to landing millions in sales or vaulting business through the stratosphere, but I observed a commonality among those who consistently grew; I just didn't see it at first because I was hyper-focused on the goal and not the journey.
In a nutshell:
Every one of the successful business people I met over the past 15 years applied the give-get rule in their relationships. The principle is simple. Incredibly simple. It goes like this: Whenever someone asks you for something, be willing to give it. But be sure you get something in return.
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Featured Stories:
Now You Can Rent a Robot Worker—for Less Than Paying a Human
Automation is reaching more companies, imperiling some jobs and changing the nature of others.
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POLAR MANUFACTURING has been making metal hinges, locks, and brackets in south Chicago for more than 100 years. Some of the company’s metal presses—hulking great machines that loom over a worker—date from the 1950s. Last year, to meet rising demand amid a shortage of workers, Polar hired its first robot employee.
The robot arm performs a simple, repetitive job: lifting a piece of metal into a press, which then bends the metal into a new shape. And like a person, the robot worker gets paid for the hours it works.
Jose Figueroa, who manages Polar’s production line, says the robot, which is leased from a company called Formic, costs the equivalent of $8 per hour, compared with a minimum wage of $15 per hour for a human employee. Deploying the robot allowed a human worker to do different work, increasing output, Figueroa says "Smaller companies sometimes suffer because they can't spend the capital to invest in new technology,” Figueroa says. “We're just struggling to get by with the minimum wage increase.”
The fact that Polar didn’t need to pay $100,000 upfront to buy the robot, and then spend more money to get it programmed, was crucial. Figueroa says that he’d like to see 25 robots on the line within five years. He doesn’t envisage replacing any of the company’s 70 employees but says, Polar may not need to hire new workers.
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Wisconsin Headlines:
Specialty drug legislation pits hospitals vs. insurers at state Capitol
Hospitals and patients vied against health insurers and businesses Thursday at a public hearing in the state Capitol over a bipartisan bill that would prevent insurers from choosing the pharmacies where hospitals buy some specialty drugs given in hospitals. Rachel Ver Velde, Director of Workforce, Education and Employment Policy with WMC, pointed to a study done for drug manufacturers that found most hospitals charge patients and insurers more than twice their acquisition cost for medications. “It is quite shocking that the legislature would consider giving hospitals a monopoly on these drugs and push other competition out of the market,” Ver Velde said in written testimony.
Evers administration expects ‘21-’22 tax revenues to come in ahead of projections
The Evers administration today predicted revenues for the 2021-22 fiscal year will come in higher than expected with collections from income, corporate and sales taxes all running ahead of projections so far. Department of Revenue economist Emily Camfield noted income tax collections will be impacted significantly in the coming months as the tax cuts and changes in withholding tables kick in.
Mental health bill passes Assembly
A bill aiming to provide Wisconsinites with increased mental health support passed the Assembly Thursday. The Psychology Interjurisdictional Compact Bill (PSYPACT) lets psychologists practice in other participating states in-person or through telepsychology, according to a news release. “The mental health needs in Wisconsin are great, and the COVID situation has increased the number of people in need of psychological services,” State Rep. Paul Tittl said.
Wisconsin unemployment hits record low 2.8%
Wisconsin's unemployment rate hit a record low of 2.8% in December, after tying the previous low of 3% in November. The state Department of Workforce Development reported the latest figures Thursday. The state rate is below the national unemployment rate of 3.9% for December. Wisconsin gained 5,300 private sector jobs in December. The number of people counted as unemployed in Wisconsin, 86,200, also hit a record low.
Wisconsin Assembly approve lowering working age in summer
The Wisconsin Assembly sent Gov. Tony Evers a bill on Thursday that would allow teenagers to work longer hours during the busy summer tourism months. The measure passed on a voice vote is backed by Republicans and the state’s hotel, restaurant and grocery industries, but opposed by Democrats and the Wisconsin AFL-CIO. The bill would allow employees under age 16 to work until 11 p.m. when they don’t have school the next day.
GOP lawmakers propose bills to address Wisconsin's workforce shortage
A group of Wisconsin Republican lawmakers on Tuesday introduced a package of bills they say will help address the state’s workforce shortage. “The Stronger Workforce Initiative” includes more than half a dozen individual bills that range from tying unemployment benefits to the state’s unemployment rate to prohibiting able-bodied adults without kids from turning down a job solely to remain eligible for medical assistance, Sen. Chris Kapenga (R-Delafield) said in a news release.
WRA board chair calls new sales record ‘remarkable’ given tight inventories
The chair of the Wisconsin Realtors Association Board says the state setting a new record for home sales last year is “remarkable” given tight inventories. “That we have been able to do this even as inventories tightened throughout 2021 is a true testament to the persistence of buyers and the hard work of [Realtors] to find buying opportunities, even in a strong seller’s market,” Board Chair Brad Lois said in a statement. A total of 89,936 homes were sold in the state through Dec. 21, 2021, which is 0.7 percent higher than the previous record.
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BUSINESS & FINANCIAL HEADLINES:
A more than $761 billion dilemma: Retailers’ returns jump as online sales grow
Retail returns jumped to an average of 16.6% in 2021 versus 10.6% a year ago, according to a survey by the National Retail Federation and Appriss Retail. That adds up to more than $761 billion of merchandise that retailers expect will wind up back at stores and warehouses. “As online sales increase, the return rate has also increased significantly, and I don’t think it’s a secondary problem anymore,” said Mehmet Sekip Altug, associate business professor at George Mason University.
Union membership, representation fell in Wisconsin in 2021
The number union members or workers who are represented by a union in the state fell in 2021, a year after both figures grew in 2020, according to data released by the U.S. Bureau of Labor Statistics on Thursday. Wisconsin had 215,000 union members this past year, down from 227,000 in 2020. As percentage of total workers, the state’s union membership went from 8.7% to 7.9% as the workforce covered in the data grew from 2.59 million to nearly 2.71 million.
Omicron, worker shortage disrupts US manufacturing
Generac Power Systems CEO Aaron Jagdfeld provided the insight during a live interview on "Varney & Co." and outlined the challenges his company has been faced with amid supply chain disruptions coupled with the "incredibly disruptive" surge in omicron cases, which he noted significantly interfered with the manufacturing process. "Since the end of December to today it’s just been interrupting our operations pretty severely," he told FOX Business’s Grady Trimble, speaking from his factory in Whitewater.
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That's all for this week. As always, I appreciate your taking a few moments to stay up to date. Have a great week!
Ed Holpfer
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NEW REVIEW!
2021-06-17
"The New Berlin Chamber of Commerce is SO helpful in getting your business name and service out to the community. Why would you NOT want to support and be a part of your local Chamber? The benefits are wonderful!"
— Cindy Haupt
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Shebesta Piano -John Shebesta
"I’m semi retired now but the New Berlin chamber of commerce has always been very helpful and easy to contact I wish I could plug-in more often"
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"Great group of people that genuinely car about the business's and people in our community."
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"Has been a great experience being a member of New Berlin Chamber of Commerce. Very helpful getting connected in the community and staying in the loop!
"
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"The New Berlin Chamber of Commerce has made me feel very welcome as a new business in the community. They are very polite, professional and knowledgeable. Thank you"
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"Didn't know the importance of being a chamber member till I joined, but wow is it critical, especially if you own a business in New Berlin!
I get a lot of value out of their timely, important updates but also from the chamber member community and meetings.
Strong connections with state and local representatives, local business leaders and the local community.
Everything you need to know and who you need to know are all here at the chamber!"
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Burt Robertson
"When we moved our Business to New Berlin the Chamber was one of our first stops. They have not failed to deliver. For answer questions, helping us meet other business owners, opportunities to help us get exposure, the Chamber has been a huge help.
Even through Covid the chamber was constantly proving timely information and help to our business about regulations, rules, shutdowns and financial assistance opportunities for many places.
We are so happy to be members of the chamber and regularly recommend it to others... If you are a Business owner/manager you should learn more, it doesn't matter if you are a homebased direct sales business or a owner/CEO of a large factory or store... there is something for you at the chamber.
If you are new to the area and are looking for help getting around and find places to shop, eat, have fun... check out the community guide book the chamber has it is really nice.
These pictures are from when we had the opportunity to be the business of the week at the Farmers Market...
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"They are a Great Chamber of Commerce that helps businesses in the community" ******.
Sherry Ament, Herculift
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