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Big I Buzz - September 29, 2021

Posted By IIAW Staff, Tuesday, September 28, 2021

Today is National Coffee Day! It's always a good day when you start it off with a cup (or three) of coffee. 

In this week's Big I Buzz, we are discussing how a few changes in your office can support productivity, how Wisconsin bars and restaurants are bouncing back post-pandemic and why millennials are buying more life insurance than other generations. 

8 Ways to Redesign Your Office to Support Productivity - Independent Agent

Independent Agent has put together a list of do's and don'ts to creating a space that encourages a productive work mindset. These are 8 things to consider when designing (or redesigning) your workspace to optimize productivity as workers return to the office: 

1. Look for bottlenecks. Review the layout for your workplace to determine if the setup you currently have is best suited for your team. Do you have two departments that often work together? Consider moving them closer to each other to avoid the back and forth. 

2. Room acoustics - sounds that are within a 20-foot radius have the most impact on employee concentration levels. Consider adding acoustic panels to reduce the noise in an open office space and ultimately, decrease distractions. 

3. Eliminate distractions - Independent Agent suggests polling your staff as to what distracts them the most. There may be a lack of sunlight or too much space to congregate, keeping them from staying focused. 

4. Offer opportunities for movement - According to the Fellowes Workplace Wellness Trend Report, around 87% of employees say they'd like healthier workplace options, including wellness rooms and ergonomic chairs. Other options include allowing a space to pace while brainstorming or encouraging time to walk during the work day. 

5. Encourage breaks - The average person can work nonstop for about 20 minutes before losing focus. A good way to ramp up productivity is by encouraging frequent breaks. Add a calendar reminder every 20 minutes to either switch projects or just to get up and move around for a few minutes to encourage productivity. 

6. Declutter the space - Those who are more organized than others may find another person's mess distracting from their work. Try to remove any unused items from common areas, or even within offices. 

7. Prioritize workflows - Review your workplace workflow. Recognize the areas where tasks are taking longer and invest in any technology that may help to automate repetitive tasks. 

8. Reassess frequently - As your business scales up, review these items to see whether these changes are continuing to improve your processes or see where you can make changes. 

Read more here

Wisconsin Bars and Restaurants Are Bouncing Back, But Not To Pre-Pandemic Levels

Wisconsin Policy Forum has released a new report finding low employment is holding the industry back from a full recover to pre-pandemic levels. According to Wisconsin Public Radio, "Food service has been one of the hardest-hit industries during COVID-19, with employment at bars and restaurants plummeting by nearly 50% in April 2020. According to last week's report, employment was still down 8.8 percent in August compared to pre-pandemic levels in August 2019. 

What makes this situation even more difficult is that business is booming. As many customer flock back to restaurants and bars, the establishments are struggling to keep up with the influx of customers. "This boom in sales should help restaurants and bars recover from a difficult year and a half, but it's not. Owners must contend with supply chain shortages, and any increase in sales revenue has to cover much higher food costs and increased wages." 

The report found that 39.1 percent of Wisconsin workers in accommodations and food services industry filed initial unemployment claims between March 15 and July 5, 2020. Unfortunately, that hasn't led many restaurants to receive workers back as they reopen. Some restaurants interviewed for the WPR story, told reporters that they had to run on only half of the employees they had pre-pandemic, with many restaurants forced to be closed some days so they can give those employees a day or two off each week. 

Read more here

COVID-19 Driving More Millennials to Buy Life Insurance Than Gen X & Boomers, Study Finds

A recent study from the 2021 Insurance Barometer Study found that more Americans will purchase life insurance over the next year due to the pandemic. Millennials said they're now more likely to buy life insurance coverage because of the pandemics. Compared to the Baby Boomers and Gen X individuals surveyed, millennials far exceeded those who would do the same. 

According to Fox Business, "While the impact of the pandemic has been tragic, it has also taught younger generations the value of financial decisions like purchasing life insurance, the study showed.... Just 52% of the American adults reported having life insurance coverage in 2021, but 73 million Americans (59%) said they need life insurance. About 29 million policyholders say they need to increase their current life insurance coverage, according to the study." Read more about the study here

For more news, check out the Action news section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list. We hope that everyone has a great rest of their week!


Tags:  insuring Wisconsin  wisconsin independent insurance association  wisconsin insurance agency help  wisconsin insurance blog 

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