Businesses, nonprofits and governments eligible for Family Friendly Business Award™

The City of Farmington and the City of Albuquerque have joined the State of New Mexico in receiving the Family Friendly Business Award™ in recognition of their family friendly workplace policies. Farmington and the State of New Mexico received Platinum level recognition (the highest), while Albuquerque was recognized at the Gold level. The awards are bestowed by Family Friendly New Mexico, a nonprofit organization that recognizes New Mexico businesses, governments and organizations that implement policies deemed friendly to working families.

Offering flexible work schedules is one method employers can support working families. Other family friendly policies include employer sponsored healthcare and retirement plans. Policies like telecommuting and job sharing have also been shown to help working families while at the same time provide employers with cost savings through lower real estate costs and reduced turnover.

In fact, studies show that employers benefit significantly when they take a family friendly approach. A recent study by Microsoft Japan demonstrated that productivity increased 40 percent after employees took advantage of an offer to work their typical weekly hours over a four-day week while still earning their five-day pay. Other research indicates that increased productivity more than makes up for the costs associated with implementing family friendly policies.

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Cash Flow: WESST Workshop Teaches Business Essentials

Julianna Silva is Managing Director of the WESST Enterprise Center. Article by Sandy Nelson.

Keeping track of the money flowing in and out of a business is challenging even in the best of times — when cash is flooding in and the outflow is a comparative trickle. But any business that wants to stay in business needs to master cash flow management.

To help small-business owners get a handle on this essential skill, WESST in Albuquerque is conducting a workshop, “Learn the Language of Your Business Finances,” that includes demonstrations of how businesses can manage their finances, including cash flow, by having participants work with a spreadsheet for a fictitious venture.

The exercise gives tangible examples of the costs that businesses can expect to pay —advertising, supplies, raw materials, loan payments, payroll, rent, insurance premiums, and so on — and the revenue they can anticipate for a given period. The hypothetical example shows trouble looming as bills come due and the revenue falls short of what’s needed to meet obligations. Continue reading