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Finding workers isn't the only challenge

Finding workers isn't the only challenge

A reminder to Wellesley voters: Today (March 7) is town election day. Polls are open until 8 p.m. Details
 
Newton Opts-In to tougher building code, Wellesley could be next
 
The Newton City Council voted last night to join Watertown and three other communities by adopting the state’s Opt-In Specialized Stretch Code, a set of net-zero building standards that will dictate how new residential and commercial developments are built.
 
And Wellesley could be next.
 
Among other requirements, the Opt-In Code requires new construction to be fully wired and insulated as a net-zero building but it does not ban fossil-fuel installations.
 
However, last night's unanimous council vote could also set up Newton to become part of the state’s “ten communities” pilot program. That pilot would ban fossil fuel hookups in new construction and substantial renovations, with some exceptions for labs and hospitals. (GBH has an update here.)
 
(In order to participate Newton will also need to meet the state’s 40B affordable housing standards by September, something city officials believe is possible.) 
 
The new Opt-In standards begin in Watertown, Brookline, Cambridge, and Somerville on July 1. Newton's adoption would be effective Jan. 1, 2024, pending Mayor Ruthanne's Fuller expected approval. 
 
Wellesley Town Meeting will consider joining the other communities (also with a Jan. 1 start date) this spring. Needham’s Select Board is expected to begin discussing possible adoption later this year.
 
Here’s the video from the chamber's recent Stretch Code webinar. Green Newton has a concise explainer here.
 
Mass. residents pay the largest share of income taxes in the U.S.
 
Massachusetts residents will pay the nation's largest share of their income in taxes this spring, according to a new study from the personal finance site FinanceBuzz. 
 
The average American will pay 19.68% of their income in taxes this year. But Bay State residents filing as individuals can expect to pay 24.07% of their income in taxes this year. Couples filing jointly will pay 23.47 percent.
 
And those numbers only refer to 2022 taxes. They don’t take into account the Millionaires’ Tax which became effective Jan. 1, 2023, which will add a 4% levy on individuals’ income over $1 million to taxes.
 
Newton businesses also pay some of the state’s highest property taxes
 
Meanwhile, Newton commercial and industrial property owners pay among the highest property tax rates in the Commonwealth.
 
Due to the city’s split tax rate, commercial property is taxed generally 175% more than residential properties.
 
The city’s residential property tax rate ranked 300th out of 352 cities and towns in Massachusetts in Fiscal Year 2022 (in the bottom 15%), while its commercial property tax rate ranked 96th out of 352 (in the top 28%).
 
Newton's tax bills could go even higher pending the results of next Tuesday's override election. That's one of the reasons why the chamber is asking City Hall to hold a line on its spending next year and encouraging voters to say "no" to Question 1.
 
 
Watertown plans aim to guide future growth
 
Watertown officials will present the draft of the city’s updated Comprehensive Plan and Open Space and Recreation Plan at an open house Thursday at 6:30 p.m. at the Watertown Free Library.
 
On March 22 at 9 a.m., the chamber will host a virtual presentation of the Comprehensive Plan (RSVP here)
 
The plan is designed to provide a road map for making decisions about land use, economic development, transportation, circulation, and parking, with an emphasis on Watertown Square and other commercial districts.
Other Need to Knows
 
  • Danish pharmaceutical giant Novo Nordisk is bringing more than 200 jobs to the area, including some to its site in Watertown, as it shifts its U.S. R&D operations to Greater Boston. Last year, the company spent $1.1 billion to acquire Watertown-based Forma Therapeutics, which is developing drugs for blood disorders and cancers. (BBJ)
 
 
  • The Massachusetts Small Business Development Center Network provides free, confidential, one-to-one business assistance and free and low-cost training to prospective and existing small businesses. Details
 
  • The Wellesley Diversity, Equity, and Inclusion (DEI) Task Force, Babson College, and the League of Women Voters of Wellesley are hosting “Bigger Than Racism: Understanding Racialization and Structural Advantage in Wellesley and Beyond,” a Zoom workshop next Tuesday, March 14 at 7 p.m. Details.
 
 
  • Want to watch former Newton City Councilor and news site publisher Amy Sangiolo in action on her day job? The supervising consumer specialist in the attorney general's office leads a webinar today at 10:30 a.m. on changes to the state sanitary code and "how to get your landlord to address code violationsRegister
 
Finding workers isn't the only challenge
 
Hiring continues to be a problem for many retailers
 
But a new Harvard Business School study identifies another challenge for merchants:  Employee lateness and absenteeism.
 
Researchers examined 25.5 million employee shift time cards covering more than 100,000 employees across more than 500 U.S. retail grocery store locations over four years.
 
They found that a 1% increase in lateness and absenteeism is associated with a 2.3% decline in daily sales. The study also suggested that lateness and absenteeism can weigh down the employees who have to pick up the slack.
 
"Employee lateness or absenteeism can [also] have spillover effects, said Caleb Kwon a doctoral student involved with the study.
 
“Specifically, one employee being late or absent can negatively affect not only store operations, but also their coworkers by making them stay to make up for the lost labor."
 
Other findings included:
 
  • Employees who were late on average by 21 minutes.
  • Employees missed the start of morning shifts—between 6 a.m. and noon—most.
  • Part-time workers struggled most with coming in on time.
  • One employee’s lateness or absenteeism can increase the probability that coworkers will need to work longer.
 
The authors also offered this tip for managers: Address the problems through better training and scheduling practices. Reduce elements of surprise and give employees certainty about expectations.?
 
"If they call people on Monday and say, 'Hey, you gotta work on Tuesday,' there's a higher likelihood they might not show up for work," said HBS Professor of Business Logistics Ananth Raman.
 
"Maybe they can't find daycare for a child, or maybe they have another job because you only employ them part-time to avoid paying for healthcare benefits."
 
Development provides homes for seniors in the middle
 
Housing developer 2Life Communities broke ground on a unique 174-apartment complex adjacent to the JCC in Newton yesterday.
 
The facility will be home for seniors with too much money to qualify for income-restricted housing but not enough to comfortably afford the vast majority of homes that are being built these days, Greg Ryan at the BBJ explains.
 
“We go where the market fails, and we figure out how to make it work, no matter what it takes. We don’t give up,” 2Life CEO Amy Schectman told Ryan. “Because it's not a market opportunity, it's a moral imperative. And when it's a moral imperative, you just bang your head against the wall until you figure it out.”
 
Nearly every one of the units has been pre-sold.
 
GBH’s Tori Bedford was there too.
 
Look who just joined your chamber!
 
February was a short month. But our amazing membership team still welcomed a long list of new and reinstated members to your chamber.
 
 
Still trying to decide if belonging to our fast-growing community of businesses and nonprofits can be beneficial to your company or career? 
 
Reach out at 617-244-5300 or membership@charlesriverchamber.com.
That’s what you need to knows for today – Purim  --unless you need to know about the 71-year-old Newton man who loves to hang out on the summit of Mount Washington on the absolutely coldest days of the year.
 
See you Friday.
 
Greg Reibman (he, him)
President
617.244.1688
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