SEPTEMBER 2024 E-NEWSLETTER

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SEPTEMBER 2024 Q & A

Q: My husband and I approach investing differently. Is this the norm?

A: Quite often, it is. According to studies by the University of California, Berkley and Nerdwallet, more men (68%) hold stocks than women (48%), and men trade about 45% more often than women. Women are less likely to feel educated about and confident in choosing investments.

These findings don't mean men's approach to investing is better; it is just different. Women investors (66%) make up for lesser knowledge and confidence by seeking professional assistance.

They're also more risk-averse than men and hold their investments longer — traits that may potentially give women a leg up on consistent long-term returns.

Happy Employees Are Productive

The general business consensus is that happy employees are more productive. So, are most of today's employees satisfied with their employment? A Conference Board study conducted in late 2023 seems to give a resounding "yes."

A CLOSER LOOK

The survey found that 63% of workers are satisfied overall, the highest job satisfaction rating since the survey began in 1987. But this bright report has some dark spots. One is the significant gap in satisfaction between men and women, particularly related to the financial benefits of work, such as wages, benefits, and bonuses.

The survey also noted a never-before discrepancy. Satisfaction decreased across the first 26 questions compared to 2022. Those declines indicate that future job satisfaction overall may be at risk despite the record rating in 2023.

KEEP PACE

While wages and key benefits remain vital to job satisfaction and productivity, respondents focused more on positive work culture and experience than in previous years. This suggests you should prioritize and emphasize factors such as the quality of leadership, career paths, work/life balance, work-from-home and flex options, and workplace culture to drive employee retention, productivity, and job satisfaction. Also, be alert to areas of low satisfaction, such as mental health programs, education/job training, recognition, and workload, and address the gaps in male/female and short tenure/longer tenure satisfaction.

Women remained less satisfied than men in general. This suggests that employers should bolster efforts to provide benefits that better support working women.

Using AI to Add Value

Incorporating artificial intelligence (AI) for your small business may be a way to help you and your employees get through the workday more efficiently and add value to your business.

EMAIL

Today’s email clients can use AI to organize messages by type and priority. They can sort important messages to a primary inbox to respond to first and less important messages to another “box” to read later.

INFORMATION

An AI meeting assistant can transcribe and recap online meetings so you have a summary of the information covered afterward. You might also tap AI for basic information on an unfamiliar topic, ideas for articles and reports, or examples and statistics for your writing. However, be aware that AI information may not be 100% accurate or current.

TIRESOME TASKS

AI may relieve you of tedious tasks around the office, like invoicing.