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Luring them in
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Chippewa Valley employers up pay, boost benefits to attract workers in tight labor market
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2 | BUSINESS LEADER • January 29, 2018
f f f U h G a
CONTENTS COVER COMMUNITY FEATURE STORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 PROFILES . . . . . . . . . . . . . . . . 8, 16 STORY . . . . . . . . . . . . . . . . . . . . . . . . .
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Party supply business grows globally.
Chippewa Valley employers raise pay, benefits to compete in tight labor market.
Lingerie shop caters to all women.
GUEST COLUMNS Jeff West . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kate Noe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CALENDAR . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-22 BY THE NUMBERS . . . . . . . . . . . . . . . . . . . . . . . . . 23 DIRECTORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
EDITOR’S NOTE Bemoaning the labor shortage is so 2017. This is the year that employers need to act. A labor shortage has been forecast for years by the simple demographic fact that baby boomers are retiring and following generations aren’t as large. Unemployment has continued falling to historically low levels in Wisconsin. The Great Recession is in the rear-view mirror and is fading from sight.
EDITOR
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BOOK REVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Apprenticeship program use jumps, giving more students a taste of a career.
Andrew Dowd andrew.dowd@ecpc.com @ADowd_LT 715-833-9204
GRAPHIC DESIGN & LAYOUT John Balgaard
MAGAZINE ADVERTISING & DISTRIBUTION COORDINATOR
Edie Litzkow - edie.litzkow@ecpc.com 715-833-9239
State and local surveys of business leaders last year showed that a worker shortage is a growing concern. So, what are they going to do about it? Workers, especially those with highdemand skills or in fields that have grown with the economy, have more options out there. During the recession, the attitude that workers should just be happy to have a job was passable. But those with that mindset now are likely just happy to have any applicants apply for their openings. It’s time for companies to seriously
examine their wages, benefits and other workplace perks. For those that have fallen behind the competition, they’ll need to do better to attract quality candidates. The cover story of this issue explores what several Chippewa Valley employers are doing to step up to the challenge of a worker shortage. Another article shows how apprenticeships sow the seeds of a future workforce, while also providing some labor to local companies. Enjoy all that and more in the first Business Leader of 2018.
Published four times per year by the Leader-Telegram advertising department. Copyright 2018 Eau Claire Press Co., 701 S. Farwell St., Eau Claire, WI 54701. All rights reserved. 800-236-7077. leadertelegram.com
COVER STORY
Perking up Staff photo by Steve Kinderman Student Transit uses a school bus parked near the intersection of Clairemont Avenue and Menomonie Street to advertise its search for drivers. The Eau Claire-based employer recently raised its starting pay for school bus drivers.
Employers learn it takes more than a “now hiring” sign to fill positions in a tight labor market By Eric Lindquist, Leader-Telegram staff
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utchinson Technology Inc. in Eau Claire recently raised its starting pay for production positions. TTM Technologies in Chippewa Falls added an onsite health center to cut workers’ health care costs. Student Transit of Eau Claire transformed a big yellow school bus into a giant employee recruitment billboard. Across the Chippewa Valley, employers are responding to an extremely tight labor market by pulling out all the stops to attract new workers. With the November unemployment rate in the Eau Claire metropolitan area at 2.5 percent — the lowest since 2000 — and the latest Eau Claire Area Economic Development Corp. survey revealing that 85 percent of area employers report having difficulty filling some positions, regional workforce officials agree the tight labor market represents a major challenge for businesses hoping to grow. “The competition for labor has become so much more fierce that a lot of companies are looking for new ways to attract talent,” said Scott Hodek, regional labor market economist for the state
4 | BUSINESS LEADER • January 29, 2018
Department of Workforce Development. One tried-and-true method of attracting workers is by raising pay. “Employers are doing surveys and figuring out where their wages need to be to attract workers, and because of that wages are going up,” said Steve Blodgett, DWD’s area workforce development director at the Eau Claire Regional Job Center. But other employers are trying different ways to make their workplaces appealing, Hodek said. That can include offering flexible scheduling, more vacation time, better health care benefits, on-site day care, shorter probation or benefits vesting periods, or even transportation or housing assistance, local workforce experts said. “Businesses are trying to be as creative as they can to make sure their work environment is optimal for both the employee and the employer,” said David Minor, president of the Eau Claire Area Chamber of Commerce. “The creativity now is about employers doing what they can, without giving away the ship, to make it easy for employees to come over to them.”
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Feeling the pressure The tight labor market has affected temporary employment agencies in two distinct ways — they, too, are finding it harder to recruit applicants and yet more companies are seeking their help to fill job vacancies. In mid-December, Manpower was recruiting for well over 100 unfilled positions between its Eau Claire and Chippewa Falls offices and for more than 1,000 open positions in western and central Wisconsin, said Candi Geist, market leader for the two local branches. “That’s an extreme change from when I started with Manpower 8½ years ago,” Geist said, explaining that initially the offices always had more applicants than job orders, but now that situation is reversed. She pointed out that applying at a temp agency is an efficient way for workers in this market to fill out one application and be considered for positions at several area employers. Doherty Staffing Solutions in Eau Claire has increased advertising and its use of social media and started coldcalling people and holding recruitment events to grow its applicant pool, said staffing specialist Ancilla Walter. “We’re basically recruiting from anywhere we can find people,” Walter said.
and expanded its use of social media for recruiting. The company is recruiting workers for production, technician and engineer openings. “We’re confident we can get the message out about the opportunities we have available and meet the staffing needs for our growth,” Pautz said.
Healthy perk
TTM Technologies launched its employee health center in November. “It is a difficult labor market. I hear about it on the radio, I see it in the newspaper, I see signs posted at all the businesses when I drive to work,” said Sheridan Welch, general manager of TTM’s Chippewa Falls plant. “At TTM we’re looking at differentiating ourselves from everyone else by what we’re providing employees when they get here.” The health center is the most visible step in that direction. The center offers its nearly 800 employees 45-minute appointments five days a week with a licensed nurse practitioner, a medical assistant or a physical therapist and allows all fulland part-time workers to attend those sessions during their shifts. The facility offers preventative exams, sick care, physical therapy and health coaching. Adding “The feedback incentives we’ve gotten has been tremendous. Staff photo by Spencer Nickel HTI has taken a It’s just so Components training specialist Marcia LeCleir points out procedures recently while training new employees, number of steps from left, Rodney Mikkelson, Karen Bohn, Steve Duchesneau and Andrew Kirschling at the HTI plant in Eau Claire. convenient. They to find enough don’t have to leave work and they don’t have to take workers to expand production since it completed a vacation,” Welch said, noting that appointments cost merger with TDK in October 2016. a fraction of the price of traditional doctor visits. Beyond increasing starting wages and the premium She is confident the center will serve as a good tool for it offers for employees working night shifts, the recruiting new employees and retaining existing ones. company changed its policies to make new workers Welch said TTM also has made a concerted effort immediately eligible for paid holidays and health, to support community organizations and promote dental and paid-time-off benefits, said Connie Pautz, recreational activities for employees — all part of a vice president of human resources. push to make it a fun place to work that people can be HTI also has ramped up its recruitment efforts on college campuses, implemented a program in which employees can earn a bonus for referring new workers
See page 6 January 29, 2018 • BUSINESS LEADER | 5
from Page 5
proud to call their employer. The plant, which builds printed circuit boards, also recently raised starting wages. “You need to be competitive,” Welch said. So far, the strategies appear to be working, as the company has been able to fill open positions. It was advertising for an additional 20 to 30 workers in December.
Big banner Eau Claire-based Student Transit recently raised its starting wage to $15 an hour to aid recruiting for new school bus drivers and monitors — folks who accompany children on early learning program routes and those with medical or other special needs. “We realize we’re going to be competing with newcomers to the market for employees, so we figured it was time,” said Marty Klukas, general manager. The company trumpeted the news with a large banner attached to a yellow school bus parked near the intersection of Clairemont Avenue and Menomonie Street. “The sign on that bus is our main recruitment tool,” Klukas said. Student Transit also offers stipends for employees who refer new workers, pays out bonuses for drivers based on attendance, provides all training in-house and permits drivers to bring their children on the bus with them.
“The biggest benefit is this place absolutely rocks,” Klukas said. “It’s a great place to work and you get to have an impact on young people.” Menards is another major local employer that recently offered incentives to attract workers. A recent classified ad in the Leader-Telegram listed a wage increase and $1,000 sign-on bonus for some new production employees. “We hope that our highly competitive wages, profit sharing program, vacation pay, employee discounts, weekend premiums and other benefits will continue to draw people to Menards,” said company spokesman Jeff Abbott. “We are expanding here in the Chippewa Valley and have new, exciting career opportunities opening up that we are filling reasonably well.”
Staff photo by Spencer Nickel New hire Rodney Mikkelson logs on to the HTI website for his training at the Eau Claire plant.
More competition
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6 | BUSINESS LEADER • January 29, 2018
Manpower’s Geist said some of the upward pressure on wages and other recruitment and retention incentives are in response to new employers entering the market and ratcheting up competition for workers. “The Mills Fleet Farm distribution center has a lot of employers nervous right now,” she said. Company officials are expected to hire at least 239 full-time employees by September to work at the 1.1 million-square-foot distribution center in Chippewa Falls. Geist said she has talked to business leaders recently who have made available flexible scheduling options, added retention and attendance bonuses, shortened waiting periods for benefit eligibility and even offered employees who leave the opportunity to reclaim their seniority, compensation and benefit levels if they return within 30 days. “Right now,” she said, “is a great time for anybody looking for work or looking to move up in a company.” Contact: 715-833-9209, eric.lindquist@ecpc.com, @ealscoop on Twitter Hodek Minor
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- Guest Article -
FINDING THE
RIGHT EMPLOYEE FOR YOUR BUSINESS
Employers today are struggling to fill vacant positions that are needed to meet customer needs. The struggle is a combination of finding potential employees with the skills needed for the particular position and with the skills that make a good worker, such as the ability to work in a team environment and use good communication skills and common courtesy toward others. It’s not easy to find the right combination in a world where employment opportunities are plentiful and candidates are looking for employment that fits their personal needs and expectations. Employers need to first understand what the expectations are for many candidates both young and old. Applicants for positions are looking for work flexibility and a challenging work environment with an opportunity to grow in a position and have opportunities for challenges and job advancement. This means that employers need to look at the jobs that they have created and make sure that they have done everything possible to provide both work flexibility and the chance for job growth in a challenging environment. Employers also need to think about the benefits that they offer as part of an employment package. There has to be a balance between future job security, benefits for retirement, and work schedule flexibility to allow employees time off when needed. Another attraction that employers must consider is developing and implementing family friendly policies in the workplace. Family friendly policies are designed to support employees when dealing with the pressures of family life whether it be time off for attending school parent-teacher
conferences or being available to attend well-baby visits for a newborn child. Part of the recent tax law changes allows an employer to deduct the cost of providing paid family and medical leave for an employee in order to encourage these types of family friendly policies that are attractive to employees of all ages. While the business expense deduction for this paid benefit is limited, it does provide some return for the business that wishes to provide a limited paid benefit for its employees. The business deduction starts at 12% of the amount paid to the employee for a limited amount of time off, but represents a first step to encourage companies to provide some level of paid leave benefit for its employees. Other employers are working with their employees to help employees understand how to address family issues by providing resources for employees to consider such as different resources for caregiving services that can help an employee address family situations. Creating different resource groups in the work setting also provides ways for businesses to help their employees address day care and family care
situations and hopefully provide a workforce that can be dependable and available when needed in today’s busy business climate. Employers are also spending more time reviewing their employee handbook or personnel policies to ensure they are in full compliance with state and federal laws but more importantly that the work policies being used by the Company serve as a selling point to attract new employees to the company. It is important for employers to spend the time explaining their benefits and the company policies that would apply to someone’s employment in a way that will show that the company is a preferred place for employees to work. This includes reviewing maternity/ paternity leave policies and the level of benefits that employees receive for their commitment to the company. An employee handbook that shows a commitment to employees is an excellent tool that the company used to recruit employees to their workplace. Businesses need to think outside the box to address their employment needs going forward. Relying simply upon a wage level without considering other benefits and needed flexibility in the workplace will place the employer at a disadvantage when recruiting employees to meet their business needs. Attorney Dean Dietrich, Ruder Ware
847427 01-29-18
January 29, 2018 • BUSINESS LEADER | 7
COMMUNITY PROFILE
Life of the party
Staff photos by Pamela Powers Scott and Sherri Yukel, co-owners of Big Dot of Happiness in Menomonie, credit the digital marketplace for the success of their custom party supply business that has grown to about 70 employees.
Big Dot of Happiness credits Amazon for taking the business out of the basement and around the globe By Pamela Powers, Leader-Telegram staff MENOMONIE
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he Big Dot of Happiness wants to be the life of the party. From fiestas, to woodland creature-themed baby showers and birthday parties, to bashes celebrating the 1980s and 1990s, the Big Dot of Happiness is in the custom party supply business to help people enjoy life’s celebrations and make memories. The Menomonie-based company was started in 1999 by co-owners Sherry Yukel and her husband, Scott, in their basement. Sherry designed a web page on her own to help sell the custom character towels she made. “It was terrible,” she said of the website. “I really just started this because I was home and I wanted to have some spending money.” Big Dot of Happiness continued to grow, moving in 2008 to its current 20,000-square-foot site in the Stout Technology Park. The building was designed with the atmosphere of a party in mind and planning life’s special occasions. Multicolored lights and brightly colored rooms are part of the building. 8 | BUSINESS LEADER • January 29, 2018
Each room has a unique, humorous name, which is part of the company’s branding designed to make it stand out from other manufacturers. Customer service is known as “the Expert, Experts.” The printing room goes by “the Superheroes.” Assembly and warehouse areas are called “the Dotifiers.” Product development carries the moniker “the Designer of Dots.” And the marketing people are nicknamed “the Fanatics.” Even the lunchroom has a special name, “the Spunkitudinality Lounge.” The company has grown to 70 employees working two shifts to meet the growing demand for some 12,000 products the company produces. “It’s a good problem, a very good problem,” Scott said.
Growing destinations
In 2012 the company became an Amazon retailer. The unique party supplies go across America, Canada and the United Kingdom. A new destination, Australia, is a market the company will start sending to in the first quarter of this year.
The ’80s inspired another collection of par ty decorations and trinkets that the business sells.
Amazon really opened the doors to the online marketplace because the Big Dot of Happiness could expand their markets. Amazon warehouses store additional products that are usually shipped within two days to customers, Scott said. “We used to see orders Mondays through Fridays – during the days when people were at work with their computers,” Sherry said. “Now people can order from their mobile phones whenever they want.” Scott credited the company’s growth to Amazon. “Without Amazon we wouldn’t be this size of company,” he said, noting none of Big Dot of Happiness’s products are in storefronts. Yet over 95 percent of the products are made in Menomonie. From custom invitations to labels for wine, water bottles or cupcakes, all types of party supplies are available through Big Dot of Happiness. There are unique stock items as well as options to have products customized. For the future, the couple plans to expand more into wall décor and sign-making, including lawn and business signs.
Brenda Knutson of Eau Claire has been with the company just over 10 years as the customer service manager. For Knutson’s 10–year anniversary Sherri hired the UWStout band to play for Knutson to celebrate the milestone. Knutson loves the family atmosphere of the business, but also respects the mission. “We are not just about parties,” Knutson said. “We are making memories.”
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Celebrations at work
Getting into the party favors business just fit with the Yukels’ belief in celebrating life. “It started because I was throwing friends baby showers,” Sherri said. “We really like to go all out when it comes to celebrating something special or someone special that we care about. We like them to feel special. People want their party to be different and to look different.” Because the company is owned by the Yukels, they are able to talk to lead team members and make decisions quickly to follow trends in parties, Sherri said. “We are able to shift gears quicker,” she noted. “Our job is to stay on top of the trends.” The employees are also a big part the company’s success. Bev Merton of Boyceville has worked at Big Dot of Happiness for six years in assembly. “It is truly like a family,” she said.
Nostalgia for the 1990s is a theme for one line of party decorations and favors produced by the Menomonie company.
Children 12 & under are free
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Disco fever lives on in another line created by Big Dot of Happiness.
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CEO SPEAK
Accountability starts with yourself Start by finding the things you truly enjoy doing at your business
Jeff West is the owner of Bear Down (beardowninc.com), an executive and executive team coaching company based in Eau Claire. He was a founder and CEO of Silicon Logic Engineering. He also chairs Business Partners peer groups in Northwestern Wisconsin. West can be reached at: 715-559-2195 or jeffatbeardown@gmail.com.
“Ninety-nine percent of all failures come from people who have a habit of making excuses.” GEORGE WASHINGTON CARVER, AMERICAN BOTANIST AND INVENTOR By Jeff West
Is accountability an issue in your business? Do you get frustrated when things don’t get done on time or done correctly? Are you tired of the excuses? Accountability is one of the common themes with many of the companies I work with. When it surfaces as an issue, I ask my clients how they hold themselves accountable first. The typical response is, “Accountable to what?” to which I expertly reply, “Exactly.” Unless we know what we want from our business, what our purpose is, we have nothing to hold ourselves accountable to. That puts us on really weak footing when trying to hold others accountable. ••• I’ll often ask clients — hardworking people with a lot of impressive skills — why they do what they do. The answers tend to be around the theme of wanting a better life for themselves, their family, employees, customers etc. As their company grows though, they find their responsibilities grow as well. At some point they often realize they’re working harder than ever and for some reason a lot of the fun has disappeared. They often have a lot of nice things to show for their hard work but find they have less and less time to enjoy it and the people they care for. I actually had the founder of a successful company that’s been in business for more than 25 years tell me that he hated it when he turned the lights on in the morning. His work-life balance had turned into a joke, and his sense of fulfillment for his original idea was nowhere to be found. There’s an old line that speaks to this. It says, “You’ve changed from a human being to a human doing.” Does this sound at all familiar? If it does, answer the following two simple yet powerful questions: 1) What do I want out of life? 2) Is my business helping me get it or keeping me from it? ••• In his book, “Accountability,” author and businessman Greg Bustin says it’s easy to describe what we do: CEO, CFO, GM, engineer, HR, sales etc. However it’s much more difficult to describe what we want to be. So what do you want to be that causes you to do what you do? 10 | BUSINESS LEADER • January 29, 2018
Do you do it for the money? Sure, money is important, but what drives you? What’s your purpose? What fulfills you? Many times we find we’ve wrapped ourselves up in a web of responsibilities we don’t enjoy doing to the point we’ve left little time for doing the things that energize us. Which ironically are usually the things we’re best at and why we were successful in the first place. When you think about it though, unless you know what you want and hold yourself accountable to your purpose for doing what you do, it’s very hard to hold anyone else accountable. ••• So how do you get back to a life of fun and fulfillment? First, stop doing the things you don’t like doing and get back to doing the things you do. It might be hard at first. Change usually is. We often won’t consider changing until the pain of doing the same thing over and over again becomes unbearable. Second, work with people you enjoy working with and create a company that everyone cares about. Both take effort, but the results are worth it. Give some thought to the things you’re willing to do, the things you want to do and the things you can do. It’s at the intersection of these three things that fulfillment is found. ••• Hold yourself accountable to yourself. Don’t settle for anything less than leading a fulfilling life. Dream big and get back to doing what you love to do!
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- Guest Article -
YOU’RE HIRING. BUT WHO’S LOOKING?
Article submitted by Security Health Plan.
It wasn’t that long ago that the entire country was embroiled in the Great Recession. In early 2008 there was a sharp decline in economic activity and rural markets like Northern Wisconsin were among those hit the hardest. Everywhere you looked it seemed companies were struggling financially. Layoffs were rampant and unemployment began to rise. Fast forward to today, and, wow, how things have changed. In November 2017, according to U.S. Bureau of Labor and Statistics, unemployment for Wisconsin statewide was only 3.2 percent. The labor pool has tightened dramatically and competition for employees is fierce. Companies determined to take advantage of the economic boom are realizing that doing so is difficult if you can’t find and keep good employees.
Their benefits benefit you. Study after study reveals that employees are placing increasing value on health plan benefits. And those companies winning the recruitment and retention war are rethinking their approach to health care as an investment, rather than an expense. In a recent Harvard Business Review article, researchers identified health care benefits as the No.1 benefit of importance to employees, by a landslide. And we’re not just talking the over-50 set. Millennials place a huge value on health plan benefits and rank these benefits in a way that mirrors the values of Boomers. For companies looking to attract women to the workforce, females typically place a 30 percent greater value on health benefits than males across all ages.
Want to gain? You’ve got to retain.
Get healthy. Get strategic.
During the recession, companies found it easy to become lazy regarding labor market strategies because the supply of employees outstripped the need. Simply put, most companies could afford to be picky. But now those days are gone. Today, retention is the new recruitment strategy. And successful retention starts with understanding what matters most to your employees.
If you don’t offer health benefits, and many small employers don’t, now is the time to re-evaluate the market and make a calculated trade-off between the money you spend on taxable wages and health benefits. If you offer health benefits, it might be time to evaluate how you can improve your benefit package, including taking a look at whether your health package is actually helping you be competitive in a tight labor market.
Staying healthy in a tight labor market. Face reality
We are in one of the tightest labor markets Wisconsin has ever seen. Despite a growing labor pool, unemployment in some communities is as low as 2.5 percent.
Benefits matter
Employees place great value on benefits when deciding to take a new job or stay in their current one. Health benefits are at the top of the list employees value most.
Know your data
Take the time to not only understand your current costs of providing benefits, but understand which benefits actually improve retention and recruitment for your company. Invest more in those.
Communicate, communicate, communicate
All your efforts to provide a great benefits package are for naught if no one knows. Take the time to tell your employees the value of their health benefits in plain language and what you’re doing to make a good benefit even better. BLR-2314-10 846143 01-29-18
January 29, 2018 • BUSINESS LEADER | 11
FEATURE STORY
Staff photos by Spencer Nickel Dylan Bush, 16, attaches a bit to a machine that will mill down a piece of metal. Machine Tool Camp has brought in three apprentices since 2016, teaching them to use machinery and computer programs used in modern manufacturing.
Getting an early start Apprenticeship program grows while employers deal with labor shortage By Lauren French, Leader-Telegram staff
D
ylan Bush held a small electronics board in his hand in early January and pointed out all its tiny, colorful knobs and wires. With ease, he explained how the object — called an Arduino — can help tinkerers build devices that interact with the physical world. It’s become a favored tool of his throughout his work as a youth apprentice at Machine Tool Camp in Chippewa Falls. At 16 years old, Bush is getting a firsthand look at how the manufacturing industry operates. Where other high schoolers might be earning cash in retail or fast food, Bush is learning computer coding and how to make 3D models. He’s paid for his time, and he receives credits at Chippewa Falls High School, where he is a junior. “I thought it was a great idea,” Bush said as he sat on a chair over checkered floors at Machine Tool Camp, where he works two to four evenings a week. “It’s a job, for one, and they’re teaching me how to use real-world skills for future jobs.”
12 | BUSINESS LEADER • January 29, 2018
t
“Tie that together with all the different incentives Bush is one of 407 students in the Chippewa we’ve had from Gov. (Scott) Walker,” Goodman said, Valley who participate in the Youth Apprenticeship “it’s been a no-brainer to participate because they’re program. Hosted through Cooperative Educational getting substantial dollars for these YA kids.” Service Agency 10, the program connects high school Industries struggling the most with workforce students with area businesses to expose them to shortages in working life after the state are graduation. manufacturing As Wisconsin and health care, faces workforce Schraufnagel said. shortages The YA program across multiple offers student industries, Youth apprenticeships Apprenticeship in 11 industries: organizers hope agriculture, food the program helps and natural students get a resources; jump-start on a architecture and career. construction; “People don’t art, audio-visual realize that technology and when baby communications; boomers retire, finance; they’re leaving health science; a gap,” said Bush works on a 3D rendering at Machine Tool Camp in Chippewa Falls. The high school junior works a hospitality, John Goodman, few evenings a week through an apprenticeship at the company that makes industrial equipment. lodging and Chippewa tourism; Valley Youth Apprenticeship coordinator. “If every one of our high information technology; manufacturing; marketing; science, technology, engineering and mathematics school kids graduated and went into the workplace, (STEM); and transportation, distribution and logistics. we still can’t completely replace the baby boomers” Of those, the most popular are agriculture, health science, manufacturing and hospitality, Schraufnagel Growth on the horizon said. Started in 1991, the Youth Apprenticeship program had not seen major spikes in participation until the last three years, said Glen Schraufnagel, Youth ‘Everyone can win’ Apprenticeship consultant for the Chippewa Valley. Business owners find benefits in hosting youth Compared to this year’s 407 student apprentices, apprentices, too. last year drew 184 students, Schraufnagel said. The Mary Kauphusman, co-owner of Machine Tool year before that, there were just 78. Camp, said she got her business involved in 2016 When he considers the reasons for the increase, Schraufnagel points to word of the benefits spreading, See page 14 as well as schools placing more emphasis on career planning in the wake of a statewide workforce shortage. “Everyone can win,” Schraufnagel said of apprenticeships. “The students win by getting out and exploring some careers. The school wins financially.” Schools get a $350 grant through CESA 10 for each student apprentice they have. Additionally, students who successfully complete their apprenticeship program could earn their district up to $1,000 each, Goodman said. Successful completion of the program involves 450 apprenticeship hours for a one-year program; 900 hours for a two-year program; and two semesters of related classroom instruction. 847585 1-29-18
January 29, 2018 • BUSINESS LEADER | 13
from Page 13
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because she thought it could land a couple more employees for the business. She received more than she expected. “We kind of thought we were doing it to be a good citizen of the community,” Kauphusman said. “It actually turned out to be an amazing source. (The students) are really contributing back. We were pleasantly surprised.” Machine Tool Camp, which manufactures industrial equipment, has hosted three youth apprentices since joining the program. Two are currently working there, and the third has since graduated high school and is still on board while he is attending his first year of college, Kauphusman said. While working at Machine Tool Camp, she said, students have a chance to explore the mechanical side to the business, as well as software, coding and 3D modeling. “When they find their home within the company, then we start to build off that,” she said. We train them on everything that we have.” Apprenticeships allow the business to cultivate the labor it would like to see, Kauphusman added. “You have access to these kids before they go out into the world,” she said. For Bush, that ability to explore the industry is making him second-guess his early aspiration to work in video game coding, he said. His exposure to the working world at Machine Tool Camp is making him consider a career in that field, he said. While on a shift at Machine Tool Camp, Bush receives job assignments from Kauphusman and learns how to use the equipment there. He also helps visitors who pay to use the company’s equipment to work on their own personal or professional projects. “I would say, ‘Do it,’ “ Bush said of the YA time commitment. “There’s no point not to.” Bush said many students at Chippewa Falls High School are unaware the YA program exists. But that’s changing, said Laura Bushendorf, career and technical education coordinator for the Chippewa Falls school district. Like the YA program at large, the Chippewa Falls school district has seen program participation growth in its schools the last few years. That growth is good for more than financial returns, Bushendorf said — it’s about community connections, too. “It’s one thing for our kids to leave and go across to Minneapolis to work,” she said, “but it’s another to have them work right here.” Contact: 715-830-5828, lauren.french@ecpc.com, @LaurenKFrench on Twitter
14 | BUSINESS LEADER • January 29, 2018
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847334 1-29-18
January 29, 2018 • BUSINESS LEADER | 15
COMMUNITY PROFILE
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Fit for all women Chippewa Falls native opens lingerie shop to serve a broad audience
By Chris Vetter, Leader-Telegram staff CHIPPEWA FALLS
L
arissa “Lacey” Ashwell began dreaming of opening her own lingerie boutique when she was in high school. Ashwell, 29, has been a stay-at-home mom for the past three years and decided it was the time to move forward. “I decided I had to pursue this dream,” she said. “I wish I had done it sooner.” Ashwell has opened her store, “Lacey’s Lingerie,” at 101 N. Bridge St. in downtown Chippewa Falls. She began renovating the 4,000-square-foot storefront in September and officially opened for business Dec. 1. “It’s been awesome,” she said. “I’m glad I have brought a unique business to downtown.” The building has sat empty for a couple of years. Ashwell, a Chippewa Falls native who graduated from Chippewa Falls High School in 2006, knew 16 | BUSINESS LEADER • January 29, 2018
the location well and believed it was the perfect place for her shop. “The deciding factor is it’s in my hometown,” she said. “Chippewa is the spot I had to be.” Ashwell has distributors providing clothes not only from across the country, but also England and France. She boasts she has several lingerie lines that won’t be found elsewhere nearby.
Fitting all women
On the wall of the shop are pictures of three family members who have died from cancer. That helps drive her to one of the things her shop specializes in – serving women who have undergone breast cancer surgery. “I want them to feel like a woman while shopping here and not like a patient,” she said. “I hated that they didn’t feel they had as many options.”
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in her new shop, Lacey's Lingerie, which opened on Dec. 1.
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< Larissa â&#x20AC;&#x153;Laceyâ&#x20AC;? Ashwell shows off clothing
Staff photos by Chris Vetter
Laceyâ&#x20AC;&#x2122;s Lingerie, 101 N. Bridge St., Chippewa Falls, is open 10 a.m.-6 p.m. Tuesday-Saturday.
Ashwell said among her goals is to provide clothing options for women who have had a mastectomy, and need specially-fitted bras that have pockets for prosthetic inserts. She is working to become a trained mastectomy fitter.
Ashwell also wants to provide lingerie options for women of all sizes and body types. â&#x20AC;&#x153;We really want to promote body positivity, and we want you to be comfortable with the skin youâ&#x20AC;&#x2122;re in,â&#x20AC;? she said. â&#x20AC;&#x153;I want people to love their bodies.â&#x20AC;? While shopping for clothes online has become trendy, Ashwell believes women will still want to go to a store to try on lingerie to make sure it fits. Lacey's Lingerie has changing rooms that Ashwell had acquired and repurposed from the defunct Kmart store in Eau Claire. Chippewa Falls Main Street executive director Teri Ouimette praised Ashwell for how she set up the shop. â&#x20AC;&#x153;She is just so enthusiastic,â&#x20AC;? Ouimette said. â&#x20AC;&#x153;Sheâ&#x20AC;&#x2122;s more than accommodating. And the cool part is sheâ&#x20AC;&#x2122;s made her store male-friendly. She is a bright, shiny, glittery girl.â&#x20AC;? Ouimette said sheâ&#x20AC;&#x2122;s pleased the storefront, located at the entrance to downtown, is now filled. â&#x20AC;&#x153;This is another great piece of the puzzle,â&#x20AC;? Ouimette said. Ashwell has long-term plans to hold a fashion show next October, and she wants to create a â&#x20AC;&#x153;pinupâ&#x20AC;? calendar with local women featured, with the proceeds benefitting a local cancer survivor. Contact: 715-723-0303, chris.vetter@ecpc. Ouimette
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January 29, 2018 â&#x20AC;˘ BUSINESS LEADER | 17
GUEST COLUMN
Simple ways to boost financial well-being in 2018
Kate Noe, APMA®, CLTC®, is a financial advisor and managing partner at River Prairie Wealth Partners, a private wealth practice of Ameriprise Financial Services, Inc. The practice has its office at 2423 Rivers Edge Drive, Altoona.
By Kate Noe
It’s that time of year again — time to make promises to yourself for what you’ll achieve in the new year. It isn’t surprising that improving financial well-being tops the list of new year’s resolutions each year. If you’ve ever tried to make and keep a new year’s resolution, it’s likely you fell short of success. Studies suggest 80 percent of us ditch our resolutions by February. Perhaps we set our sights too high, jumped in too deep or simply lacked motivation. Before we start making promises to ourselves we’re unlikely to keep, it’s important to emphasize that the key to successful change starts with getting to the root of why. Knowing our values and what drives us at the core can help us stay focused on goals that will ultimately fulfill us on a much deeper level. After you’ve defined your goals and understand your why, you can focus on how. Whether your goals are lofty or tiny, remember to take small steps and keep your values and purpose in focus. Below are some simple and thoughtful ideas on improving your financial well-being in 2018. Good luck and cheers to the new year! 1. Gather your data and know what you have. Collect and inventory all things financial in your life including your income, expenses, assets, retirement accounts, liabilities, insurance policies, income tax returns, wills, trusts and other estate planning documents. Web-based tools such as Mint.com or Total View by Ameriprise Financial help organize and aggregate your financial picture in one location. 2. Get on the same page. Over the last decade, I have found that most couples are not on the same page financially speaking, and it’s now more common for couples to keep finances somewhat separate. Make this the year that you sit down with your partner and lay everything out on the table. Get clarity on what your partner has in savings, investments and debt. Make sure you have common goals and a consistent strategy. 3. Determine exactly how much you’re saving. It’s common for even the most financially savvy to lack a clear understanding of how much they’re contributing to their retirement plans and what their employer is matching as a percent of their income. Far too often, I meet with successful and intelligent clients who are not taking full advantage of their employer match, and in return, are leaving free money on the table. Make sure you’re contributing at least up to the employer match. 4. Understand all your employer benefits. You might have benefits and perks available you don’t even 18 | BUSINESS LEADER • January 29, 2018
know about, such as supplemental life insurance, subsidies on gym memberships, etc. Ask your employer for a “statement of benefits” outlining what options are available to you. 5. Save half of every pay increase. Every time you receive a raise, take half and direct into your savings. Because you’re used to a lower paycheck, you likely won’t even notice, and your future self will thank you. 6. Schedule automatic increases to retirement savings. Ask your employer if they offer the option to automatically increase your retirement savings by a certain percent each year. Start small — perhaps 1 percent per year. 7. Open an additional IRA or Roth. You may not be aware that you can fund a traditional IRA and/or a Roth IRA in addition to your employer retirement plan. In some cases, it may make sense to fund your employer plan (401(k), 403(b), etc.) up to the employer match and direct the rest of your retirement savings into a separate IRA plan. Doing so may allow you to have more control over contributions and in most cases, offers infinitely more investment options. 8. Try the 52-week savings plan. The first week of the new year, save $1, the following week $2, then $3 a week later, until you get to 52 weeks. It’s simple, doesn’t require much effort and you save $1,378 by the end of the year. This is a fantastic way to start an emergency, travel or Christmas fund. 9. Snowball your debt. List all your debts from smallest to largest and throw all your excess funds at the smallest balance, while making the minimum payments on all your larger loans. Once the smallest balance is paid off, start putting that extra money toward the next smallest debt until you pay that one off, and so on. Eliminating smaller balances will free up more dollars to throw at your larger debts and loans. 10. Attach your own oxygen mask before assisting others. While helping your children with their education is a noble cause, it can be extremely damaging to your personal goals. Your children can take out loans for education, but you can’t do so for retirement. If helping foot the bill for higher education is something you value, consider making a deal with your college-bound children: they take out their own student loans and when they graduate and become gainfully employed in their field, you will help repay a part (or all) of their loans. This allows for them to have skin in the game and helps motivate them to successfully complete their degree.
BOOK REVIEW
Manners in mind Business newbies may benefit from etiquette manual, but experienced people can skip this one Title: “Excuse Me: The Survival Guide to Modern Business Etiquette.” Author: Rosanne J. Thomas. Pages: 269. Publisher: Amacom (c.2017).
By Terri Schlichenmeyer The Bookworm
Please. Thank you. Mom always called them “The Magic Words.” One opens doors at the front of a request; the other leaves them open at the end. Please. Thank you. If only life were so easy. For sure, as you’ll see in “Excuse Me” by Rosanne J. Thomas, business is not. “Do unto others as you would have others do unto you.” Chances are, you grew up hearing those words so often that they’re tattooed on your soul, but that saying “falls short” in business today, Thomas writes. The prospective taken in the Golden Rule is one of self. The new “Platinum Rule” – to treat people as they would like to be treated – takes the view of others into consideration. And therein lies the way to get along and to use etiquette in today’s workplace: by practicing civility, respect, “esteem or deference.” Those things have become a necessity because business is no longer 1950s-homogenized; instead, your office may consist of men and women from four different generations, single and married, gay and straight, and of various ethnicities. That, and technology has revolutionized the way businesses are run. Hiring processes may now be launched online and include more than a dozen different interviews. Luddites should therefore learn to use the internet, at least as much as they’ll need to land and keep a job – and that includes the etiquette needed to communicate well online, Thomas writes. Always be aware of your personal brand (yes, you have one!). Keep a positive attitude and a “professional presence.” Don’t exist in a bubble or treat security or janitorial staff as though they’re “invisible.” Learn to modify your voice to fit every situation you may encounter in a business setting. Never email when you’re angry and avoid “text-based” communication. Remember that social media posts can come back to haunt you, so be careful. Know that business dining is “rife with risk” but that it comes with enormous opportunities. And finally, remember that you can live without your smartphone.
The first thing you need to know is this: “Excuse Me” is not a bad book. It’s just not exactly about what you might think it’s about. Please and thank you are important, but this book is more about getting a job, keeping a job, and dealing with problems you might encounter on the job. Yes, that can involve etiquette but the focus here seems to be lower on pleasantries and higher on personal job management. Still, there’s no denying that author Thomas offers wise advice. Her chapter-opening stories are worth reading, but they more resembled those you’d find on an ING HR-based, confess-all website. Entertaining, yes. Etiquette, not much. So what can a reader come away with here? ING If you are in need of some get-along basics, this book has them. If you’re a new grad or are re-entering the workforce, it may please you. For established businesspeople, though, what’s in “Excuse Me” may already be ingrained, thank you.
BUILD DREAMS…
BUILD TRUST…
BUILDING FRIENDSHIPS.
Chris Becker
The Bookworm is Terri Schlichenmeyer. Terri has been reading since she was 3 years old and never goes anywhere without a book. She lives on a hill in Wisconsin with two dogs and 15,000 books.
715-308-4722 www.CandMRealEstate.com 847390 1-29-18
January 29, 2018 • BUSINESS LEADER | 19
CALENDAR
February - April Feb. 10: Business Recordkeeping 101 class, 9 a.m.-noon, Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $29, discount available for incomeeligible people. Info/register: SuccessfulBusiness.org.
Feb. 2: Business ‘n Breakfast — Breaking Down the New Tax Code, 7:15-8:30 a.m., The Fill Inn Station, 104 W. Columbia St., Chippewa Falls. Cost: $10 to Chippewa Falls Area Chamber of Commerce members, $20 for nonmembers. Info/register: chippewachamber.org. Feb. 6: Business QuickBooks (online version) class, 6-9 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $99, discount available for incomeeligible people. Info/register: SuccessfulBusiness.org. Feb. 7: Powerful Business Writing class, 8:30 a.m.-3:30 p.m., Room 204A, Chippewa Valley Technical College Applied Technology Center, 2322 Alpine Road. Cost: $119. Info/register: cvtc.edu. Feb. 8: Capital Funding workshop on business plans, noon-1 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $20, includes lunch. Info/ register: SuccessfulBusiness.org. Feb. 8: Safety Day conference with workshops on regulatory expectations and best practices, 7:30 a.m.-3:30 p.m., commons room, CVTC’s Chippewa Falls campus, 770 Scheidler Road. Cost: $74. Info/register: 715-874-4676, cvtc.edu. BUSINESS LOANS & SERVICES
Feb. 13: Microsoft Excel Basic class, 8:30 a.m.-3:30 p.m., Room 100, CVTC Neillsville campus, 11 Tiff Ave. Cost: $124. Info/register: cvtc.edu. Feb. 13: Business Plan Basics class, 6-9 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $29, discount available for income-eligible people. Info/register: SuccessfulBusiness.org. Feb. 20: Building Employee Accountability - The Critical Role of Leadership workshop, 1-4 p.m., Classroom 124, CVTC Manufacturing Education Center, 2320 Alpine Road. Cost: $79. Info/register: cvtc.edu. Feb. 20: Microsoft Excel Basic class, 8:30 a.m.-3:30 p.m., Durand High School, 604 Seventh Ave. Cost: $124. Info/ register: cvtc.edu. Feb. 21: Eau Claire Area Chamber of Commerce Sales Conference, 8 a.m.-2:30 p.m., The Florian Gardens, 2340 Lorch Ave. Cost: $79 for chamber members, $109 nonmembers. Info/register: EauClaireChamber.org. Feb. 21: Creating an Online Sales Funnel workshop, 6-8 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $29, discount available for incomeeligible people. Info/register: SuccessfulBusiness.org. Feb. 22: Microsoft Excel Intermediate class, 8:30 a.m.-3:30 p.m., Room 204A, CVTC Applied Technology Center, 2322 Alpine Road. Cost: $124. Info/register: cvtc.edu.
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Feb. 22: 10th Annual Downtown Eau Claire Awards reception and dinner, 5 p.m., The Halls at the Lismore Hotel, 333 Gibson St. Cost: $35. Info/register: DowntownEauClaire.org. Feb. 22-23: Supervisory Management: Compliance to Commitment — Empowering Others to do Their Best, 8:30 a.m.-4 p.m. each day, Citizens State Bank, 375 Stageline Road, Hudson. Cost: $600, includes meals, materials. Info/ register: 715-836-3636, ce.uwec.edu.
WESTconsin Credit Union is proud to be a chosen SBA Express delegated lender by the U.S. Small Business Administration (SBA). Our local business loan professionals are experienced, friendly, knowledgeable and ready to serve you and your business needs.
Feb. 27: Microsoft Excel Basic class, 8:30 a.m.-3:30 p.m., St. Croix Innovation Center, 1091 Sutherland Ave., River Falls. Cost: $124. Info/register: cvtc.edu. Feb. 28: Dealing with Difficult People class, 9 a.m.-noon, Classroom 109, CVTC Neillsville campus, 11 Tiff Ave. Cost: $49. Info/register: cvtc.edu.
(800) 924-0022 | westconsincu.org 20 | BUSINESS LEADER • January 29, 2018
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See page 22
2
- Guest Article -
SUCCESSION PLANNING AND THE FAMILY-OWNED BUSINESS By Brian Koopman, CFP®, CPA, Senior Vice President, Wealth Management Group, Trust Point, Inc.
John and Jane Smith are 60 years old and are the owners of ABC Company, which they started 30 years ago. They would like to reduce their hours in the business as they contemplate retirement. They have three children; two of which are in the business. They would like to keep the business in the family while ensuring a secure retirement for them. They want to treat all of their children fairly in their estate plan. This scenario is a fairly common one for family-owned businesses. The fact the Smiths’ have started to discuss their goals puts them ahead. Nevertheless, their work is only starting. They must consider a number of factors as they formulate and implement their succession plan.
CONSIDER EXIT STRATEGIES
Even if their goal is to keep the business in the family, it will depend on whether any of their children have the qualifications and desire to take it over. They also should examine what the best exit strategy for the family would be from a financial point of view. This could mean selling to an outside party or to a group of key employees.
TAX IMPLICATIONS
Without proper planning, ownership transfer of a business can have negative tax consequences. Losing 30% or more to taxes can severely impact the Smiths’ desire of a secure retirement. It is important to analyze each exit strategy, along with the type of transaction (outright sale, installment sale, part gift/part sale, etc) to obtain a tax-efficient result.
COMMUNICATE
When developing a succession plan, communication with both family members and key employees is the surest way to avoid problems down the road.
Discussing the plan helps avoid uncertainty surrounding the future of the business. In a number of situations, Trust Point, as the family’s advisor, has assisted in the presentation and communication with these groups to help provide an objective view.
COORDINATE WITH ESTATE PLANNING
One of the key issues John and Jane need to address is the transfer of assets to their children. With respect to the company, there are three basic options: 1) Transfer a third of the voting stock to each child. 2) Create non-voting stock to transfer to the child who isn’t involved in the business, and transfer voting stock to the other two. 3) Transfer liquid assets (now or at a later time) to the child not involved in the business. The question John and Jane need to answer is, are they trying to treat their children fairly or to treat them equally? If the goal is to treat the kids equally, voting stock should transfer to all three. If the goal is to treat them fairly, the last two options deserve some thought. Regardless of the
decision, there could be implications for the Smiths’ estate plan. Both plans need to be coordinated if fairness is to be achieved.
CONSULT WITH ADVISORS
As the succession plan is being formulated, John and Jane need to bring their team of advisors into the planning process. Trust Point’s team of experienced professionals brings insights to a variety of wealth-related issues. We have the ability to leverage resources and coordinate with outside advisors on the clients behalf. For over a century our clients have experienced the confidence in knowing that their advisory team is serving as their advocate. For more information on how Trust Point can help with your family’s financial goals, visit our website at www.trustpointinc.com. *This article was written for educational purposes only. The information contained is not legal, financial, or tax-advice. Please seek additional advice from qualified individuals or visit www.trustpointinc.com for more information.
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January 29, 2018 • BUSINESS LEADER | 21
from Page 20
March 1-2: Supervisory Management: Learning to Lead, 8:30 a.m.-4 p.m. each day, Holiday Inn South, 4751 Owen Ayres Court. Cost: $600, includes meals, materials. Info/register: 715836-3636, ce.uwec.edu.
March 27: Business Tax Chat advice session on small business tax preparation, 6-8 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $10. Info/register: SuccessfulBusiness.org.
March 2: Junior Achievement Business Challenge competition for high school students mentored by business professionals, 8 a.m.-3 p.m., CVTC Business Education Center, 620 W. Clairemont Ave. Info/register: 715-835-5566, bit.ly/ JABusinessCh.
April 3: Eau Claire Area Chamber of Commerce Human Resources Conference, 8 a.m.-3:30 p.m., The Florian Gardens, 2340 Lorch Ave. Cost: $89 for chamber members, $119 nonmembers. Info/register: EauClaireChamber.org.
March 8-9: Supervisory Management: Learning to Lead, 8:30 a.m.-4 p.m. each day, Citizens State Bank, 375 Stageline Road, Hudson. Cost: $600, includes meals, materials. Info/register: 715-836-3636, ce.uwec.edu. March 10: Understanding Fundamental Business Financial Statements class, 9 a.m.-noon, Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $29, discount available for income-eligible people. Info/register: SuccessfulBusiness. org.
April 4: Cashing in on Your Potential: How to Make Money Doing What You Love workshop, 1-4 p.m., Black River Area Chamber of Commerce, 120 N. Water St., Black River Falls. Cost: $29, discount available for income-eligible people. Info/ register: SuccessfulBusiness.org. April 5: Strengths-Based Leadership class, 8 a.m.-noon, St. Croix Innovation Center, 1091 Sutherland Ave., River Falls. Cost: $189. Info/register: cvtc.edu.
March 13: Effective Writing for Technical Professionals class, 8:30 a.m.-3:30 p.m., St. Croix Innovation Center, 1091 Sutherland Ave., River Falls. Cost: $119. Info/register: cvtc.edu.
April 5-6: Supervisory Management: Orientation, Time Management and Delegation, 8:30 a.m.-4 p.m. each day, Holiday Inn South, 4751 Owen Ayres Court. Cost: $600, includes meals, materials. Info/register: 715-836-3636, ce.uwec. edu.
March 13: Lunch & Learn: Learn about the Chippewa/ Coulee Wage Survey, noon-1 p.m., Eau Claire Area Chamber of Commerce, 101 N. Farwell St. Cost: $20 for chamber members, $40 nonmembers. Info/register: EauClaireChamber.org.
April 12: Business QuickBooks (online version) class, 6-9 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $99, discount available for income-eligible people. Info/register: SuccessfulBusiness.org.
March 15: Business Plan Basics class, 6-9 p.m., Western Dairyland Community Action Agency, 418 Wisconsin St. Cost: $29, discount available for income-eligible people. Info/register: SuccessfulBusiness.org.
April 17: Build Productive Teams Through DiSC Workplace class, 1-4 p.m., Room 100A, CVTC Business Education Center, 620 W. Clairemont Ave. Cost: $99. Info/register: cvtc.edu.
March 22-23: Supervisory Management: Emotional Intelligence and Empowerment, 8:30 a.m.-4 p.m. each day, Holiday Inn South, 4751 Owen Ayres Court. Cost: $600, includes meals, materials. Info/register: 715-836-3636, ce.uwec. edu. March 27: Microsoft Excel Advanced class, 8:30 a.m.-3:30 p.m., Room 204A, CVTC Applied Technology Center, 2322 Alpine Road. Cost: $124. Info/register: cvtc.edu.
April 18: Food Entrepreneurship Roundtable, noon-1 p.m., Forage, Suite 212, Building 13, Banbury Place, 930 Galloway St. Cost: $15, lunch included. Info/register: SuccessfulBusiness.org. April 19-20: Supervisory Management: Orientation, Time Management and Delegation, 8:30 a.m.-4 p.m. each day, Citizens State Bank, 375 Stageline Road, Hudson. Cost: $600, includes meals, materials. Info/register: 715-836-3636, ce.uwec.edu.
847528 1-29-18
22 | BUSINESS LEADER â&#x20AC;˘ January 29, 2018
4.9%
Spending increase by U.S. shoppers during the holiday season compared to the prior year, according to data from MasterCard SpendingPulse.
3
Rate hikes projected this year by the Federal Reserve due to a strong labor market and rising economic activity.
$295 million
Value of construction projects that took out building permits in 2017 in the city of Eau Claire. That beats the previous record set in 2009 by almost $100 million.
$170,000
Median home price during 2017 in Eau Claire County, which is 9.7% higher than 2016, based on Wisconsin Realtors Association statistics.
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Median household income in Eau Claire County according to the Census Bureau American Community Survey responses from 2012-2016. That’s less than a 1% increase on what households made in 2007-11 amid the Great Recession and early recovery.
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