Did you know that JPMorgan, the largest U.S. bank, has decided to exit the student loan business because they see no meaningful growth there? There have been many new updates to business world news this week. If you run a business or want to become more involved and knowledgeable about the business you do, then here are three important updates via online business news.
1. The Benefits of Employee Training
Continual training is important for business profit. New studies show that training is a high leverage activity, and can save employers the equivalent of hundreds of hours of work in increased efficiency and productivity. Did you know that 50% of start up businesses fail by their fourth year, and one of the leading reasons is a lack of financial and record keeping knowledge? When everyone in a business understands how their actions and planning affects financial outcome, companies fare better.
2. Profits for Automobiles Surge
Global automakers are likely to make even larger profits for the rest of the decade owing to growing demand from China. China is likely to account for the largest growth by 2020, comprising about half the entire market. U.S. sales have been picking up and have returned to pre recession levels. The auto industry is often a key indicator of overall economy strength, and influences many other industries.
3. New Employee Training Videos
Did you know that about 43% of employees would not agree to a large extent that they have the training needed to perform their job effectively? Instead, they either have no training, or only some. Training is incredibly important for businesses in establishing a uniform experience that customers have, and a clear set of expectations for employees to follow. New employee training in the form of videos can sometimes be helpful since it eliminates the risk of forgetting certain instructions.
What updates have you read in online business news? Let us know in the comments!