Welcome to the Small Business Run Down. Each day, we bring you stories that impact small business owners and their workforce.
Today we shine a solar-powered light on the ITC and how it’s helped small businesses in the green energy industry. Plus, a look at another way hiring managers show unconscious bias … followed by a chance to reflect on your management style and how it could be impacting your employees!
ITC set to fade, casting shadows over solar small biz landscape
Big name companies might make the headlines, but small businesses are where it’s at when it comes to the growing solar industry — and the solar Investment Tax Credit (ITC) has played a huge role in the success of these companies. The ITC is set to begin stepping down at the end of the year, causing concern among small-biz solar companies who see the credit as a big part of their long-term success.
The Number: 200,000. The ITJ has contributed to job creation, creating 200,000 solar careers across the country and spurring billions in private investment.
The Quote: “We are a small business trying to have a big impact in a power market dominated by an entrenched fossil fuel industry that enjoys hundreds of permanent benefits written into the tax code.”
Ivy league studies finds hiring managers favor candidates from higher socioeconomic background
Researchers at Yale University performed a series of 5 studies examining some of the ways that unconscious bias affects managers during the hiring process. Their findings: that recruiters are more likely to believe that the people they perceive to be from higher socioeconomic backgrounds are more qualified for the job.
The Number: 7. The studies examined how accurately people are able to detect someone’s social class after hearing a few seconds of their speech. The researchers found that people could accurately identify the speaker’s social background after hearing then say only 7 random words.
The Quote: “While most hiring managers would deny that a job candidate’s social class matters, in reality, the socioeconomic position of an applicant or their parents is being assessed within the first seconds they speak — a circumstance that limits economic mobility and perpetuates inequality.”
Managerial types: teacher, cheerleader, connector, “always on”
Interested in boosting productivity, improving employee morale and lowering workplace stress? Take a few minutes to consider your leadership style and how it helps — or hinders — your employees achieve their goals and enhances your organization’s workforce.
The Number: 4. According to one leadership expert, there are only 4 true types of leaders. Take the quiz to find out which type best describes you.
The Quote: “One of these types is toxic — and it likely isn’t the one most would guess.”