Small businesses bore the brunt of the economic damage caused by the COVID-19 pandemic. According to data collected by the U.S. Census Bureau in the last week of May 2021, 26.2% of U.S. small business owners report that the pandemic had a large negative effect on their company, and an additional 42.7% state that the pandemic had a moderate negative effect on their business.
Business leaders must possess a level of professionalism and business acumen to help their organizations grow, as well as inspire those who work for them. Poor leadership can have a negative financial impact on an organization, decreasing its yearly revenue by up to 8%, according to Brandon Hall Group’s 2018 study “Reinventing and Democratizing Leadership Development.” Effective leadership, on the other hand, can help prevent employee turnover by 32%, the study reports.
Even in the very best of times, it’s no secret that higher education can result in better career options, higher salary, and less chance of unemployment. True to this scenario, for 2019, it was reported that workers with graduate degrees had the lowest unemployment rates and the highest earnings.