US workers' pay and benefit growth slowed in the final quarter of last year, according to the Labor Department. The Employment Cost Index increased 0.9% in the fourth quarter, down from 1.1% in the previous quarter. Year-over-year labor costs increased 4.2%, down from 4.3% in the previous quarter, marking the slowest gain in two years.

According to new research from Zero100, companies that hire talent with AI expertise are more likely to have higher profit margins and the technology can improve contract lifecycle management. "There's a lot of low-hanging fruit and value to be claimed not just in the efficiency for sourcing professionals in writing contracts and getting them out more quickly, but also in the back end of being able to manage supplier performance compliance and savings opportunities," says Lauren Acoba, Zero100's principal researcher.

Private sector companies added 107,000 workers to payrolls in January, according to ADP, down from 158,000 in December and less than the Dow Jones had estimate. ADP reported a 5.2% annual gain in wages.

Businesses seeking to reduce the cost to pick and pack items are investing in solutions to enhance warehouse efficiency by streamlining order processing from various ecommerce channels, writes Linnworks CEO Chris Timmer. Choosing the right system can enable real-time inventory tracking, barcode scanning, batch picking and packing and integration with shipping carriers, Timmer writes.

The industrial internet of things represents a technological evolution in industrial sectors, employing sensors, analytics and automation to connect and optimize physical operations. Industry leaders say it can enable real-time environmental monitoring, predictive maintenance, and enhanced safety measures, leading to significant cost reductions, increased efficiency and more sustainable operations.

Third-party vendors with access to an organization's data can cause breaches in regulatory laws, supply chain disruption, fraud and customer service issues if the vendor gets hacked or compromised, writes Helga Labus. Some best practices for third-party vendor risk management are screening vendors thoroughly, regularly re-evaluating the risk of each vendor and off-boarding those who are no longer used.

Business-to-business digital sales increased by 10% from 2022 to 2023, per Digital Commerce 360 research, and the key priority for B2B marketers this year should be providing a digitally-driven, omnichannel buying experience, Mark Brohan writes. Brohan offers four recommendations for an effective digital purchasing experience, including a mobile-responsive ecommerce site and maximizing B2B marketplaces.

Videos running 15 seconds or less are preferred by 85% of viewers and short-form videos yield 2.5 times more engagement than long-form counterparts, per a Munch report. Popular and viral videos typically feature a speedy average of 150 words per minute, have two or three speakers and include diverse viewpoints.

Confidence among American consumers rose in January to its highest level since late 2021 amid easing concerns related to the economy, jobs market and inflation. The Conference Board's sentiment gauge reached 114.8, up from 108 a month earlier, while a measure of current conditions was the highest since March 2020. However, separate confidence data shows consumers planning to rein in spending on major purchases such as cars and larger household goods.

Your team is a "group" if they only feel accountable to you but not to each other, writes CEO coach Sabina Nawaz, who recommends leading with curiosity to learn about their experiences without judgment and repeating what you've heard them say to check your understanding. "With a newfound understanding of our collective and individual frustrations, we can empathize with each other, learn to work better together, and shift from being a group to a team invested in a shared outcome rather than individual agendas," Nawaz writes.

Interested in membership with NAW? Reach out and let us know how we can help you.