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Daily Dash - April 16, 2008

Daily Dash: Wednesday

April 16, 2008

The Latest Business Headlines from WWJ Newsradio 950

Michigan Bankruptcy Rate High | A report from The American Bankruptcy Institute lists Michigan among 10 states with the highest per-capita rates of bankruptcy filings. | Story

Delphi Chief Optimistic | Delphi Corp. Executive Chairman Steve Miller says the auto parts maker's turnaround plan is generating $20 billion to $30 billion per year in new business. | Story

Study Supports Smoking Ban | A report released by a former Michigan lawmaker says smoking bans in other states don't have any net economic effect on bars and restaurants. | Story

House Passes Auto Insurance Bills | The Democrat-led state House has passed legislation supporters say could make auto insurance more affordable for some Michigan residents. | Story

U.S. Home Foreclosures Soar | The onslaught of homes facing foreclosures has yet to ebb, a research report shows. | Story

Stocks Make Modest Gains | The main indexes pushed back into the upper half of the session's trading ranges. The Dow and Nasdaq finished the session with gains of 0.5 percent each | Story

Stories marked with have a related podcast at WWJ.com.
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This Week in 'Your People'

Keep workers in place, productive by keeping them engaged.

Few workers fire on all cylinders, survey finds.

Generations view work in much the same way, study says.

Employers work hard to keep employees saving.

Economy, home prices make workforce less mobile.

Workplace obesity costs high.

Today's Worldwide Automotive Report podcast.

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KEEPING EMPLOYEES ENGAGED, HAPPY CAN PAY BIG DIVIDENDS FOR BUSINESSES

Boosting the engagement of employees might seem like an impossible mission in an era when corporate cutbacks and talk of recession are common. But experts say there are steps that you can take – regardless of the stormy economic climate – to help retain top talent and keep employees enthused about work.

Why do it? Employee engagement is always important, experts say. But it's especially critical during tough economic times. The talent shortage is real, and even in a recession, top performers can and do leave companies if they aren't happy at work. And most workplaces – especially after a company downsizing – cannot afford to lose star performers.

"In the worst-case scenario, your best employees walk out the door," said Judy McLeish, president of Toronto-based McDaniel Partners, a firm that helps companies increase employee engagement in the workplace. "You have to remember that even in the worst economic times, there's still a market for your best people." More...

Survey Reveals Low Employee Engagement in U.S. Workforce

When it comes to engaging employees, employers have a lot of work to do according to a survey from Skillman, N.J.-based BlessingWhite, a human resources consulting firm.

"The State of Employee Engagement 2008," which will be released April 21 and made available on the company's Web site in May, shows that only 29 percent of employees are "engaged" – meaning that they are enthused and "in gear" to impact your bottom line. Another 19 percent are actually disengaged from their jobs. Disengaged employees typically just go through the motions, do the bare minimum, and have no real emotional stake in the mission of the company.

For more about the survey, including a list of highlights, click here.

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WORKPLACE DIFFERENCES BETWEEN GENERATIONS SMALL: New research dispels the myth that younger employees tend to be less engaged in the workplace and that Gen X employees are the most cynical of the bunch. The findings, from the recently released by Purchase, N.Y.-based Sirota Survey Intelligence, show that despite common perceptions, only small differences exist between the generations when it comes to attitudes toward work and in employee engagement. More...

TAX LEGISLATION WOULD HIKE HSA COSTS: Employers and employees may have to pay higher health savings account (HSA) administration fees under newly proposed legislation that would increase scrutiny of expenses distributed from the tax-free funds. Last week, the House Ways and Means Committee approved the legislation (H.R. 5719), which some say could have a chilling effect on HSAs. The provision would require banks and other HSA trustees to prove that distributions from individual accounts are for health care expenses only. More...

EMPLOYERS WORK TO KEEP EMPLOYEES SAVING: For many employees, the recession and immediate cash flow concerns have pushed saving for retirement into the background, Workforce Management reports. But an increasing number of companies are trying to get employees back on the long-term savings track by teaming up with their 401(k) providers to help educate workers. Diversified Investment Advisors, for example, is busy educating employees at Novi-based Trinity Health Services about saving for retirement. More...

ECONOMY, HOME PRICES MAKE WORKFORCE LESS MOBILE: Slumping housing prices and perennial for-sale signs sitting in front of homes everywhere are having a chilling effect on America's normally mobile U.S. workforce. Under normal conditions, more than 5 million people, or 4 percent of the workforce, move annually for job transfers or new career opportunities, according to the New York Times. But many would-be movers are finding themselves in a holding pattern, unable to unload their real estate to move elsewhere. In addition to slowed housing sales, economic conditions are requiring many to move where the jobs are – creating more than just financial headaches. In some instances, families have to divide time between two houses and live in different states. To read more, click here.

ABUSE OF LEAVE TOPS COMPANIES' FMLA CONCERNS: In a recent survey, nearly half of human resources professionals said potential or suspected employee abuse of the Family and Medical Leave Act (FMLA) makes administration of the regulations difficult – especially when it comes to intermittent absences. In the survey, conducted by the nonprofit WorldatWork, 42 percent of the 450 HR professionals polled said that suspected or potential abuse of FMLA leave tops their list when it comes to concerns about the act. More...

EMBRACE 'GREEN' ECONOMY APRIL 22: On Earth Day, WWJ Newsradio 950 is partnering with Michigan's University Research Corridor for a business breakfast discussion about the opportunity to grow the state's economy by developing renewable energy technologies. This "Our Michigan, Our Future" project is called "Embracing a Green Michigan." The April 22 event takes place at Wayne State University's Community Arts Auditorium. In addition, WWJ will be broadcasting live on-site from 5 a.m. until 7.p.m., featuring live interviews and feature stories throughout the day highlighting the research being done at Michigan's three major research universities and at Next Energy. For more information about the business breakfast, click here.

OBESITY CARRIES HEFTY PRICE TAG FOR EMPLOYERS: Extra pounds on your employees may be eating into your bottom line. Obesity costs U.S. employers an estimated $45 billion every year in medical costs and work loss, according to a recent report by The Conference Board. The report, “Weights and Measures: What Employers Should Know about Obesity,” examines a number of issues related to obesity in the workplace, including some financial and ethical questions about how U.S. companies should tackle the issue. More...

NORTHWEST/DELTA MERGER FACES OBSTACLES: Angry labor unions, politicians and federal regulators are among the hurdles faced by the merger of airlines Delta and Northwest, The Detroit News reports. More...

DELPHI PAYS PENSION FUND: According to The Detroit News, Delphi Corp. paid $46 million into its pension fund, far short of the $369 million required under federal law. The company's executive chairman vowed Delphi will emerge from bankruptcy "months" from now, not weeks. More...

SNEAKERS MAY PREDICT LEADERSHIP POTENTIAL, STUDY SAYS: How many sneakers are in your closet? If you answered more than three pairs, you just might be a natural born leader. It may sound farfetched, but a Mindset Media survey of 7,500 people found that 61 percent of people who annually purchase three or more pairs of sneakers are more likely than the rest of the population to show leadership qualities. The study also found that the same sneaker-loving set also tends to be highly assertive and spontaneous. More...

WORLDWIDE AUTOMOTIVE REPORT PODCAST: We hear from Delphi Corp. Chairman Steve Miller about the company's bankruptcy and his new book. The presidential candidates debate the auto industry again. Is Chrysler about to cut a deal with Fiat?


Editorial Staff:
The Daily Dash - Wednesday edition is written and edited by James Melton, Jenny Cromie, Ed Coury, and Matt Roush

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