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bacc2work
news & updates
May 12, 2022
"Inflation is taxation without legislation."

Milton Friedman
Featured Event
Community member fundraiser - Open to the public!
#harperstrong
June 10th, 6pm - 11pm
"The comeback is always stronger than the setback."
Annual Economic Outlook
May 23rd, 11-12:30

Open to community!
Hear from 2 powerful speakers and market experts, and learn how to plan for inflation and see what legislation might be coming. Our speakers are:

Leah Robinson, Director of Tax Policy and Legislative Affairs for the Michigan Chamber of Commerce

Josh Yafa, Vice President and Portfolio Advisor for Wellington Management

This is sponsored by the BACC and Edward Jones - Alicia McGovern.

Agenda:
10:30 - 11:00 Registration
11:00 - 12:00 Speakers
12:00 - 12:30 Q&A, Networking

Registration is free, you need you to register ASAP - we will run out of spaces!

Why 1 Million women are missing from the workforce
Companies of every size and industry and across every state are facing unprecedented challenges trying to find enough workers to fill open jobs. The latest data shows that we have 11.3 million job openings in the U.S., and six million unemployed workers.  

One contributing factor to the ongoing worker shortage crisis is that many women have not returned to the workforce in the wake of the pandemic. In fact, there are an estimated one million women missing from the labor force compared to February 2020.  

To help make sense of the impact of women leaving the labor force our Data Deep Dive: A Decline of Women in the Workforce explores the latest data on women in the workforce and the impact of childcare breakdowns.
What’s Causing Women Not to Work? 

There are several factors contributing to the slower return of women to the workforce. All of them are helping to fuel a workforce shortage that is unsustainable for the American economy and will disadvantage women in the long run.  
News | Advocacy | Information
The office environment has fundamentally changed!
The global pandemic forced most employers to send their employees home to work remotely, and companies had to go from zero to 60 to figure out how to run their businesses with their teams indefinitely out of the office. We should keep in mind that this seismic shift in the modern workplace occurred in just over two years.

Overall, though, our modern offices have changed very little over time. Here is how our offices have evolved in the last 70 years:

A Quality Retirement Plan is a Top Priority for Employees
Latest statistics!

  • 91% of workers value a 401k or similar retirement plan as an important benefit.
  • 84% of workers say retirement benefits offered by a prospective employer will be a major factor in their decision whether to accept.
  • 71% of Millennial workers say they are likely to switch employers for a nearly identical job with a similar employer that offered a “retirement plan or a better retirement plan.”

With our SBAM Strategic Partnership, you can offer your team a 401K program at reduced costs!

Stock Market Wrap
Coming into May, here's what we knew:
  • Inflation is running too hot for comfort.
  • The Fed is in the early stages of a tightening campaign aimed at curbing those inflation pressures.
  • The underpinnings of the economy are reasonably sound, supported by a historically tight labor market and healthy consumer finances.
  • Corporate America is holding up fairly well, with profits expected to rise at a decent clip this year.
  • Stocks are under pressure amid an increasing fear that the Fed is going to topple the economy into recession.
  • Bonds are enduring similar pressure amid sharply higher interest rates.
Motivation vs. Consequences
You layout the new policy … your team will adapt their daily work habits and put it in place. If they do this the company will have; higher efficiency, more effectiveness, improved customer satisfaction, and they all will be treated to an additional week off with full pay after the results are in at the end of the quarter.

Great, we have a new motivator … but what are the consequences if the team doesn’t perform? What if they already have 8-weeks off with pay? Sure you can suspend or fire people for not meeting expectations, but in today’s overwhelmed workplace that only puts pressure on the rest of the team. Managers and leaders are caught between a rock and a hard place … damned if they do, damned if they don’t. If you don’t call out bad behavior as you see it, the rest of the team notices that too.
Thanks to our sponsors, bigger and better is what is planned!
Member Events | News | Activities!
You don't want to miss this ...
Yes, it is a featured event and yes it is also listed here ... You don't want to miss this annual event. With inflation higher than it has been since Carter was president, the market losing over 15% this year, this event is well worth your time! Find out how this can impact you, your business, your retirement, and more ...

Rotary Golf Outing
Download your form to play or sponsor the annual Rotary Club of Belleville's Golf Outing!

Do we need a museum?
Take the survey, and join the visioning session ... What is the purpose of the museum? Is it needed? What should be there? Does it need to be in the same building it is now?

Remember, government works for you - it's YOUR wishes that count ... give them your opinion.
Volunteers needed
The Salvation Army is in need of volunteers on the dates in the flyer!

Looking to help one of the great service organizations in our area? Have a few hours? Pitch in, contact them ASAP and see what you can to do help!
Congratulations!
Our corporate Networking Sponsor - Genisys, has received another award! Genisys Credit Union has been named 14th in the Top 50 of “Top-Performing” Credit Unions in the United States by S&P Global Market Intelligence. They would like to extend a thank you to their members for choosing Genisys as their trusted financial partner.

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Thanks to our Corporate Members
Belleville Area Chamber of Commerce | bacc2work.org
248 Main Street - Belleville, MI 48111
(734) 697-7151