Wednesday, June 22, 2022

About those insane gas prices

Buckle up: Borrowing costs are only going higher. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
INC. THIS MORNING
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About those insane gas prices

Good morning,

For the first time, a gallon of regular gas now costs $5 on average nationwide. That's bad news for employers, on many accounts, especially if they’re looking to get workers back into the office. Energy experts estimate that every penny increase in the price of gasoline costs Americans an extra $4 million a day. With inflation driving up the costs of food and housing, Americans are already feeling strapped for cash.

That's where companies can turn high-cost gas into an advantage: covering commuting costs will not only help get workers back to the office, it may be an incentive to help them stay around during a tight labor market. When it comes to helping front the bill, the options range from cash and gift cards to salary raises and reimbursements. Choosing the right strategy will depend largely on the number of employees you have and how far they need to commute.  

Check out these tips on what you can do now:
 
 
 
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A MESSAGE FROM tripactions
State of Business Travel and Expense: Q1 2022
Business travel and expense is back—and TripActions has the data to prove it. Check out this report to see first hand data on 2022’s return to travel.
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Here's what else I'm reading today:
Here are three tips for bringing an invention to market--and protecting it with a patent strategy. –Inc.

Every business ought to keep toxic content off its platform. These A.I. tools can help. –Inc.

Tea helped this founder beat addiction. It inspired him to launch a now thriving company. –Inc.

Whether in a downturn or when things are flush, the compensation that start-up founders give themselves always sends some kind of message. –NYT

Resilience is not a fixed personality trait. It’s a state any employee can attain with enough organizational support. –HBR
One more thing:
Buckle up: Borrowing costs are only going higher. –Inc.
 
 
This newsletter was written by Inc. associate editor Brit Morse. How are we doing? Send us ideas and feedback on Twitter.

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