from the editor
Skilled Iowa makes strides in first year Suddenly, Skilled Iowa is no longer a new concept. The program celebrated its first anniversary at the end of July, with its leaders reporting having already made impacts across every one of Iowa’s 99 counties. To date, more than 6,500 Iowa businesses have signed on in support of the initiative, and over 27,000 Iowans have certified their skill sets through the National Career Jim Offner Readiness Certifiis the Courier cate, officials said. business “While Skilled editor. Contact Iowa has made trehim at mendous strides jim.offner@ across the state, wcfcourier. Iowa is still dealing com. with a skills gap affecting the middle skill jobs,” officials at Iowa Workforce Development said. “Continued partnership across the state is critical to ensure
Iowa has a skilled workforce to meet the demands of growing industries.” Coincidentally, that’s what this issue of Cedar Valley Business Monthly examines: How far has the program come across the Cedar Valley? How can employers get involved? How important is it for them to see a certified — and younger — pool of job applicants ready to replace the largest generation of workers in history? Skilled Iowa boasts numerous components, but perhaps the most important is its internship program, which links workersin-training and potential full-time employers and gives the former a chance to showcase their skills under real-world conditions. It also gives the young workers an opportunity accumulate invaluable on-the-job training and decide if the match is a good one. The workers receive a new skill through an internship that provides job-relevant training in conjunction with basic skill development while maintaining un-
employment benefits at the same time. That’s a considerable benefit when layoffs hit. Although interns are not guaranteed a job at the completion of the program, nearly 55 percent of the interns have received a fulltime employment offer. As the initiative moves into its second year, Skilled Iowa will further focus efforts on connecting high school students with “expansion-oriented industries” across the state, IWD says. To date, the Skilled Iowa Initiative has provided access to National Career Readiness Certificate testing to all high schools in the state. Skilled Iowa has particular relevance in the Cedar Valley, where the economy relies heavily on technology and manufacturing. It was no surprise the state formally launched the program in Waterloo last year. Des Moines County was the first area to become a Skilled Iowa Community, and a half-adozen other areas are working to
become the second Skilled Iowa Community, according to IWD. To do that, a community must meet the following metrics: 10 percent of the employers covering at least 20 percent of the area’s employment must be Skilled Iowa members, 5 percent of the current labor force has achieve the NCRC certification and 20 percent of the transitioning labor force must receive the NCRC certification. Two new publications that detail the changes in the middle skills employment sectors and a detailed analysis of the NCRC credentialing in Iowa are available at www. iowaworkforce.org. More information is available at www.skillediowa.org. Skilled Iowa is a major step toward building a stable work force for years to come. Employers are recognizing the value of the program and educational institutions are gearing up to implement it. It’s a key component in helping the Cedar Valley maintain its strong position as a crucial piece in Iowa’s economic mosaic.
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Volume 7 No. 10
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From the Cover Mark Pfalzgraf works on a weld at Hawkeye Community College in Waterloo.
page 6
HAWKEYE COMMUNITY COLLEGE Back-to-school shoppers do their homework on smartphones.
page 4
UNIVERSITY OF NORTHERN IOWA Everyone has a role in creating ethical organiztions.
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Cedar Valley Business monthly
SEPTEMBER 2013
Technology
Back to
school
Shoppers relying on mobile devices As summer fades, families head to the stores for back to school shopping. According to Piper Jaffray, most families spend over $634 to get K-12 age children ready for classes. And those shoppers are using their smartphones (47 percent) and tablets (54 percent) to shop for barCherie Dargan gains on clothes is associate and electronics professor of or check informacommunications tion like school at Hawkeye supply lists. Community The good news College in for retailers is that Waterloo. while the survey Contact her at found shoppers (800)670-4769, do a lot of their ext. 1701. research online, almost half will still head out to local department and discount stores. All that shopping adds up to an estimated $26.7 billion spending by families of K-12 students. By comparison, the National Retail Federation found families with college students spend $836.83 on average, with total spending estimated at $45.8 billion. That’s a total of $72.5 billion. Not surprisingly, back-to-school sales are a sizeable chunk of retail sales for many stores, only topped by holiday shopping. What are they buying? K-12 students need clothes, shoes, school supplies and electronics. Children need haircuts and physicals, some need school uniforms and others need items for extracurricular activities. Many college students are furnishing a dorm room or apartment, so they are buying housewares, bedding and small appliances. Many families are also buying
SEPTEMBER 2013
Cedar Valley Business monthly
smartphones, tablets and laptops. This is a popular time of year to upgrade cell phones and make sure that students have the tools they need to work on assignments and keep in touch with mom and dad. According to Laptopmag.com, the top three top smartphones are the Samsung Galaxy S4, the Apple iPhone 5 and the HTC One. The top tablets are the iPad and iPad mini, Galaxy Note 8 and Kindle Fire. Web traffic is rapidly moving to mobile devices as people look for information on the go. Searchenglineland.com reports that mobile traffic accounted for about 15 percent of Web traffic in the last quarter of 2012. The trend is moving toward mobile devices much faster than experts predicted. Popular website Yelp reports 55 percent of its searches are done on mobile devices. Amazon leads the way with over 50 million smart phone users visiting its website. Demographics also play a role, as the Piper Jaffray survey revealed: “In a 2013 survey, 79 percent of teen females and 76 percent of teen males said that they shop online. And cell phones are the main access to the Internet for 25 percent of people between the ages of 12 and 17. The majority of teenagers own mobile devices, too, as 48 percent own an iPhone and 58 percent have some type of tablet.” If your company has a website, is it friendly to mobile devices? Can people quickly navigate to find what they need? Google found that 61 percent of mobile users leave sites when they can’t find what they need and aren’t likely to go back. As teens grow into adulthood, they will expect to find information, products and services on mobile devices. Companies that cater to mobile devices are going to do well with teens and young adults. cvbusinessmonthly.com
How are people using smartphones or tablets? While some are making purchases directly on mobile devices, not everyone is comfortable with that yet. Here is how they are using those devices to do pre-shopping activities: ■ Comparing products at two or more stores. ■ Getting basic information about store hours and location. ■ Looking at customer reviews. ■ Using apps that help comparison shop. ■ Checking for discounts and coupons. Once in the store, teens and adults alike are using smartphones to comparison shop and redeem coupons, so be sure it is easy to locate those on your mobile site. How else can companies make sure their websites work for consumers’ mobile devices? ■ Use social media to connect with consumers: Invite them to sign up for text alerts with special discounts and coupons. ■ Use text messages to target consumers with coupons and special deals. ■ Make sure that mobile websites have the most important informa-
tion easily available, such as location, hours, product and price details, and a way to redeem coupons. ■ Don’t make consumers hunt for information on shipping and sales tax. Instead, make it available early on in the checkout process. ■ Use QR codes in print advertising (and in the store) to help people get to your website easily. Target is a great example of doing it right: It recently sent out a colorful, oversized magazine, “College 2013,” with products for dorm rooms and apartments. The publication featured a photo of a smartphone with the Target app (for making a shopping list or checking Target’s checklists), a list of social media sites you could use to follow Target and a page of coupons. It also included a QR code you scan with your smartphone to jump right to the Target mobile website, which looks great on my iPhone, iPad and Galaxy S4. Shoppers love mobile devices, and according to the Meeker report, check them up to 150 times a day. Can they find your company’s website? How does it look on a 4- to 5-inch screen? Your mobile site can ensure that people know about your products and services.
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cover story
Skill Set JIM OFFNER jim.offner@wcfcourier.com Licensure isn’t new in the professional world. Teachers, lawyers, doctors, truckers, electricians and other specialized trades all have to have the proper credentials in order to ply their trades. Now the concept is spreading into manufacturing, as employers worry about having enough skilled workers available to replace an aging baby-boom work force. The Pew Research Center points out that 10,000 people turn 65 — the traditional retirement age — every day, a trend that will continue through 2029. According to the U.S. Bureau of Labor Statistics, 25.2 percent of the U.S. labor force will be composed of older adults by 2020, compared to 13.1 percent in 2000 and 19.5 percent in 2010. By 2020, the median age of the work force is expected to be 42.8, up from 39.3 in 2000 and 41.7 in 2010.
With projections like those in mind, Iowa Workforce Development launched Skilled Iowa last year, starting in Waterloo-Cedar Falls. The idea is to provide an alternate career path for young workers looking to bypass a fouryear college education and jump right into the labor pool. It’s not just Iowa. Since 2006, Iowa City-based ACT has offered National Career Readiness Certificate, a portable credential that demonstrates achievement and employable skills in applied mathematics, locating information and reading for information. Skill certification, Skilled Iowa planners say, helps young workers get the training they need and get national certification. “The NCRC credential serves as an industry-recognized credential that certifies essential skills for student entering the skilled trades,” said Linda Allen, president of Hawkeye Community College in
Certification program a boon to employers, young workers Waterloo. “This credential may also be used by high school students to demonstrate skill levels prior to enrolling in a college-level technical training program.”
Advantages
The program plays an important role in two ways, Allen said. First, workers can earn certification to demonstrate workplace readiness. And employers are asked to recognize certification and to use it to evaluate job candidates. That’s invaluable to employers, said Pam Wright, Hawkeye’s business development manager for business/community education. “Hawkeye’s vision is that businesses will determine a successful benchmark within their operations and partner with us to provide training plans to eliminate any skill gaps between the credential and the on the job performance expectation,” Wright said. Allen points out that the NCRC
reduces training costs and turnover by assuring potential employees have the right skills. “The NCRC has been used by colleges and training programs across the U.S. to verify essential skills in problem solving, critical thinking and applied mathematics,” Allen said. “Instructors can use the NCRC as a pre-test for students entering their program and as a post-test to certify skills attainment.” Job candidates can use their scores as a benchmark and choose an educational program to improve those scores, Wright said. ACT provides a library of occupations indicating median, minimum and maximum skill level scores.
Attracting businesses
The NCRC could help attract new businesses to the area, and that could require new programs at Hawkeye, Allen said. Hawkeye’s business and industry department has worked in
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partnership with IowaWorks and Greater Cedar Valley Alliance & Chamber to spark interest in the NCRC assessment for nearly a year, focusing on the advanced manufacturing industry, Wright said. “From the community college standpoint the program is proactive as we will seek to provide traditional students with an additional credential to complement their certificate or degree program,” Wright said. It can also provide the unemployed, underemployed and nontraditional students with noncredit learning experience, Wright said. Skilled Iowa is uniting diverse businesses around the need for future talent, said Britt Jungck, director of business services and workforce development with the Alliance & Chamber. “For us, Skilled Iowa is proving to be a tool that allows employers from all industry backgrounds to unite around issues of workforce preparedness in a way I haven’t seen in years past,” Jungck said. “This collaboration allows our community to voice an opinion about what is needed in our candidates to make our businesses successful.
Timing is right
MATTHEW PUTNEY Cedar Valley Business Monthly
Colin Wiltse of Waverly works on making a machine punch with a hand crank CNC machine during class July 18 at Hawkeye Community College. This level of communication has the power to motivate our job seekers and our educational systems that are preparing our emerging workforce to enter the market.” Jungck said Skilled Iowa has become “the banner program” for discussions about skill levels candidates now have and possible paths to improve those skills, including customized training at postsecond-
ary institutions. “As the economic development organization for the Cedar Valley, we see an additional value-add for our community for being involved in Skilled Iowa,” Jungck said. “It communicates to outside communities that we take workforce development very seriously. This is important in attracting new business to the area.”
The timing of Skilled Iowa is right, said Steve Brustkern, executive director of Black Hawk Economic Development Inc. in Waterloo. “It’s helping to qualify employees for jobs, since there remains a shortage of skilled workers in Iowa,” Brustkern said. “Any system we can put in to address solutions is the way we’ve got to go.” Mark Hanawalt, president of United Equipment Accessories in Waverly, said employers fully support the goals of Skilled Iowa. “I think what it does for an employer is give you a comfort level of verification,” he said. “Especially if I was unemployed or in a transition job or trying to change a skill level, if you go through this certification program, it basically allows you to walk into an employer and show you’re capable of doing those jobs.” That’s a far cry from a candidate simply telling an employer what he or she can do. “To me, that’s where it really is an advantage to an employer or applicant, where everything is verified and the skill level is there,” Hanawalt said.
This is my Wartburg story.
What’s yours?
I have taught at many great institutions in my lifetime — Boston University, Harvard, Juilliard, and other prestigious schools around the world. You can get just as fine of an education right here at Wartburg College as you can at any one of those schools. Big institutions are wonderful, but the tight-knit atmosphere allows students to have personal contact with their professors. I work privately with many students, which gives me the opportunity to share what I learned working with 90 conductors and singing more than 100 roles in opera. It’s a very special college. — Simon Estes Distinguished Professor Artist in Residence
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Ethics symposium set at UNI for all organization types Ethics are important for individuals as well as organizations. One definition of ethics is: standards for thoughts and actions that constrain a person to do what is right and good, rather than what is simple, comfortable, or self-serving). There is a debate among educators about whether ethics can and should be taught, and if so, how. Katherine The Josephson Cota-Uyar Institute’s Center is associate for Youth Ethics director and has several proinstructor of entrepreneurship grams designed to teach ethics at the John and character to Pappajohn Entrepreneurial students. Many Center at the parents are faUniversity of miliar with the Northern Iowa. Six Pillars of Contact her Character. These at 273-5732 or katherine.cota@ are trustworthiness, respect, reuni.edu. sponsibility, fairness, caring and citizenship. Cedar Valley Character Counts has been working with schools and other organizations to help instill character concepts in youths. Additionally, the organization annually recognizes individuals and organizations which exhibit good character. Ethics and character are not just for youth populations. Entrepreneurs and businesses are not exempt from the ethics and character debate. Many professions or professional organizations have codes of conduct or ethical standards. The entrepreneur needs to make sure to promote an ethical orientation in her business. The ethical orientation is the practices the business uses to promote an ethical business and personal culture including role models, codes of conduct, reward systems, eval-
uations systems and policies and procedures. Some entrepreneurs may not know how to create an ethical culture in an organization or be aware of the ethical dilemmas or challenges employees may face in the workplace. To help address these issues, Cedar Valley Character Counts has joined with Allen College UnityPoint Health, Hawkeye Community College and the University of Northern Iowa to address these issues. An Ethics in Organizations Symposium will be held on Oct. 18 on the UNI campus with sessions on creating an ethical culture, ethical dilemmas in the workplace and preparing students for ethical challenges in the workplace. The symposium will feature several presenters including: UNI President William Ruud, Michelle Temeyer (Black Hawk County Extension), Renee Christoffer (Veridian Credit Union), Mark Witmer (North Star Community Services), Eric Kooy (Target Distribution Center), Rich Johnson (John Deere), Craig Van Sandt (UNI professor and chairman in business ethics), Victoria Robinson (UNI professor), Francis Degnin (UNI professor), Laura Terlip (UNI professor), Denise Pralle (Allen College professor) and Judy Ruud (UNI). Organizers encourage all levels of business, community organizations and academic institutions to attend the symposium. It has been designed for attendees to attend all or part of the day. Continuing professional education credit is available for some professions. Registration is required as space is limited. There is no cost to attend. For more information on the symposium or to register, visit www.uni.edu/rsp/ethics-organizations-conference. Finally, a great resource for more information on Character Counts is www. charactercountsiniowa.org. cvbusinessmonthly.com
training
Get maximum impact from training dollars The Cedar Valley is blessed with a low unemployment rate of 4.1 percent compared with the national rate of 7.6 percent. This rate has to do with how much success employers have when recruiting applicants to apply for jobs and the overall quality of these applicants. Recruitment, however, can be the easy part. It is retention, attrition and productivity that become the proverbial sharks in the office. When the new employee is plunked into the office pond, how can we keep the employee happy, productive and satisfied at their job? With workplace training and a continuing education program, managers can enhance an employee’s morale, job skills, and work performance over a short time period. According to human resource experts, companies should hire based on the interviewee’s potential and character, and then groom them for job-specific skills through training. Training is an easy way to let the trainee know the company values their skills and development. The 2012 Towers Watson Global Workforce Study noted continuing education and job training were in the top five attributes luring candidates to a company and in the top two attributes in terms of advancement and retention. Also, a 2012 Employee and Job Satisfaction and Engagement report by the Society of Human Resource Management asked respondents about job-specific training, career development and tuition reimbursement and how important they viewed this benefit to job satisfaction. Of the respondents, 86 percent reported job-specific training and the company’s commitment to professional development to be important, and 81 percent valued the importance of professional development, while 71 percent deemed tuition reimbursement to be important, especially females. Training leads to other benefits and can boost productivity. Giving employees a competency checklist along with training lets the employee and their superior measure progress. This also helps in performance management and setting training and job expectations cvbusinessmonthly.com
Barry Groh
is business development manager at Kaplan University in Cedar Falls and Mason City. Contact him at 243-2908 or bgroh@kaplan. edu.
Kimberly Babcock Mashek
is director of library services at Kaplan University in Cedar Falls. Contact her at 243-2935.
that are reasonable and achievable. One trainer says, “If you don’t train your people, you establish no basis for performance management.” By boosting productivity through training, the business gets more bang for its buck. Establishing a training program does not have to take a lot of effort to rake in dividends. One way is to outsource the training to educational facilities that conduct trainings at your workplace or have courses that meet job-training requirements. This allows training to take place after work hours or when it is convenient for the employee. You may find great trainers inside your company. Most employees would be open to giving a presentation on a topic that they are seen as an expert on. Topics could include a presentation on leadership, a Microsoft application or good customer service. Using current employees’ talents saves on time and budget costs, but also shows the employee you appreciate what they bring to the table. Money is not always the motivator in the work force. Investment in training and developing employees speaks volumes. Workplace training increases the human capital of the company and its productivity. It is a crucial investment a company needs to make to keep a competitive advantage. The benefits of job training on retention and job satisfaction make it an appealing option and a promotional tool for those recruiting new hires in this everchanging job market.
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SEPTEMBER 2013
wellness
Wellness program a smart choice Corporate America is changing, and so is health care, including employee health and wellness. Unhealthy employees increase health care claims, have an increased risk of work-related injuries and call in sick more often. Stefanie Employee health Niemann is corporate and wellness has relations liaison changed. In the past could with Wheaton employees Occupational stay fit performing manual labor on Medicine & Wellness in the job and eating Waterloo. family dinners each Contact her night. As the years at 272-2380 have passed, comor stefanie. panies have become niemann@ automated with less wfhc.org. manual labor. Automation reduces work-related injuries, improves safety and keeps production costs
down. However, more automation means less physical activity for many employees. Unfortunately, physical activity and exercise outside of work does not necessarily pick up the slack. Families are busier than ever. Taxiing children to activities can take a lot of time away from living a healthy lifestyle that included regular exercise and family dinners. Many times, the quickest option is a drive through or an easy boxed meal for dinner. This lifestyle can encourage unhealthy habits. For the first time in history our children have a lower life expectancy than their parents. If the parent is living an unhealthy lifestyle, chances are the kids are, too. Many employees spend the majority of their waking hours in the workplace, making it a natural venue for investments in health. Worksite wellness programs can be as simple as offering healthy
“Many employees spend the majority of their waking hours in the workplace, making it a natural venue for investments in health. food in vending machines, providing walking routes at the worksite and offering stress management programs. Worksite wellness is a growing trend, and with the Affordable Care Act incentives for wellness programs in group health coverage, it’s not slowing down. One in two adults has had at least one chronic illness. Employees affected by chronic illness spend about 48 minutes out of each work day dealing with their condition. And 70 percent of chronic illness is preventable. Obesity is a gateway to other
chronic illness such as heart disease, stroke and diabetes. Medical expenses for obese employees are estimated to be 42 percent higher than those of people of healthy weight. Encouraging a culture of wellness from top management on down is important for success. Investing in worksite wellness programs to begin combating chronic illness as well as high health care claims and insurance coverage is the right approach. Scheduling a meeting with your insurance broker to discuss incentives for wellness programs in group health coverage is a great start. Partnering with a local corporate wellness program that has health care resources and is available at your worksite throughout your program is also advantageous. Building a strong relationship with a local provider can make a difference in creating a healthier and happier workplace.
ork with… w u yo rs o b h g ei n e ar There … neighbors you share family traditions with. And then there are neighbors you trust with your life. It’s wonderful to have caring neighbors. But having neighbors who are experts at caring… is truly a great place to be. We’re committed to the health of the community and to the area’s employers and their employees. Our Wheaton Occupational Medicine & Wellness team offers area employers a comprehensive disease management program customized to fit your company’s health care needs. Our program is local with real face-to-face interaction between our wellness and health professionals and your employees. Our wellness staff provides work-site wellness programming for employers including, but not limited to, group health screenings, health risk assessments, educational sessions and work-site weight loss programs. Nurse Health Coaching can provide one-on-one health coaching, develop individual health plans and offer valuable education about positive health changes your employees can make every day.
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Experience the Local Difference l Wellness professionals available at your work-site l Connection to health care resources and clinical staff Programs are customized to fit your company’s health care needs to help reduce absenteeism, lower health care claims as well as increase productivity and employee morale. Schedule your consultation visit today! For program information contact Merriam Lake, Health Promotion Facilitator, at merriam.lake@wfhc.org or 319.272.2284.
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Please contact Sheila Kerns to post your business card. (319) 291-1448 or sheila.kerns@wcfcourier.com
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MANUFACTURING
Campaign advances manufacturing JIM OFFNER jim.offner@wcfcourier.com Some groups are working to change perceptions about careers in manufacturing as a way to bring a new generation of workers into the field. In early August, the Iowa-Advanced Manufacturing Consortium and Iowa Association of Business and Industry launched a campaign to promote careers and educational pathways in advanced manufacturing. The “Elevate Advanced Manufacturing” campaign begins by addressing the public perception of manufacturing and educating Iowans on the opportunities that exist within this industry, organizers said when they launched the initiative. By 2018, there will be a shortage of 6,672 skilled workers in the advanced manufacturing sector, and the available jobs will offer attractive pay and benefits packages, organizers said. According to the Bureau of
Economic Analysis in 2011, the average manufacturing worker made $77,060 annually, including pay and benefits, while the average worker in other industries earned $60,168, organizers noted. “When you ask the average Iowan about advanced manufacturing, they think of an outdated image — a dirty, unsafe work environment,” Mike Ralston, president of ABI, said in a news release. “That simply is not the case. Iowa has strong, innovative companies that produce cutting-edge products and are well-regarded as leaders in their industry.” A website www.elevateiowa. com was launched to support this campaign with the use of video testimonials, self-assessment career guides, job search tools and training information. “Iowa’s 15 community colleges offer a range of training opportunities within advanced manufacturing,” said Stephanie Ferraro, project manager of I-AM Grant.
“With the I-AM Grant building capacity for these programs, many schools have developed plans for industry-influenced curriculum, embedding industry credentials and the purchase of state-of-the-art equipment. Now is the ideal time for those considering careers in manufacturing to begin their training at their local community college.” Manufacturing contributes the largest share of Iowa’s gross domestic product at an annual level of $27.6 billion, more than 18 percent of the state’s economy. As of March 2012, Iowa manufacturing firms supplied 215,600 jobs, representing 14 percent of the state’s total employment, project organizers said, and the numbers are growing. In order to make a lasting impact on the state of Iowa’s economy, many sectors have combined efforts, including industry, government and education. Key players include ABI, the I-AM Consortium, a collaboration of
all 15 Iowa community colleges and various programs including the governor’s STEM initiative, Iowa Workforce Development’s online Job Bank and more. Elevate Advanced Manufacturing’s message and efforts are underway, including: ■ A website will feature video testimonials, a self-assessment for potential career pathways, career search tools (powered by Iowa Workforce Development), information on training opportunities (at Iowa’s 15 community colleges), and ways for industry to get involved. Visit: www.elevateiowa.com. ■ Educational opportunities and curriculum integration with K-12 schools involving advanced manufacturing tours, speakers and demonstrations. ■ Statewide media campaign using testimonials from skilled employees and manufacturers in Iowa. ■ Statewide events including exhibits at the Iowa State Fair.
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50 Volunteers calling on Alliance & Chamber Investors! Securing sponsorships • Recruiting new investors Secure your sponsorship now by calling 319-232-1156
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Allen College, 1990 Heath St., Waterloo, IA 50703
Open to up to 100 local college students (UNI, HCC, Wartburg, UIU, Kaplan) currently interning with a Cedar Valley company. Transportation to and from the event, refreshments, bowling and shoe rental are provided at no cost. Sept. 27, 2013 @ 9:00 p.m. Maple Lanes Employers & students send RSVP to gcva.intern@cedarvalleyalliance.com
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2013 Diversity & Inclusion Summit Greater Cedar Valley Alliance & Chamber
Friday, September 13th
Registration & Breakfast: 7:30am Program: 8:00am-1:30pm Tama Hall, Hawkeye Community College 'LYHUVLW\ ,QFOXVLRQ :KHUH :H *R 1H[W .H\QRWH 6SHDNHU -RH *HUVWDQGW 7KH UG $QQXDO 'LYHUVLW\ ,QFOXVLRQ 6XPPLW LV VKDSLQJ XS WR EH WKH EHVW \HW 2WKHU VSHDNHUV LQFOXGH
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Application Submittal: Sept. 16-27 Voting: Oct. 7-11 Announce Finalists: Oct. 15 Pitch-Off: Nov. 7 The Dream Big Grow Here grant contest is an opportunity for Iowans to fulfuill their dreams of self-employment or expansion of their current firm. Entrants compete online for a chance to win a $5,000 regional grant, and then become eligible to compete for a chance to win a $10,000 grand prize. Check out the How It Works section for official contest rules.
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Look for the October Business Education Series October 9, 16, 23 – Hilton Garden Conference Center, Cedar Falls, 7:30-10:30 a.m. Contact Bette Wubbena for more details, bwubbena@cedarvalleyalliance.com
TOPICS:
Developing engaged leaders representing our diverse communities. Class size limited. Registration ends Sept. 25th. • Talent Recruitment & Retention • Healthcare 2014 • Digital Storefront – Social media, SEO & more
personal finance
Six steps to financial success After watching the stock market soar to record highs over the first four months of the year, many investors are wondering if they should make changes to their investment portfolios. Perhaps, but not because of what the stock market has G. Bret done. Investment Trasamar decisions based on is a financial short-term market associate moves are often with Thrivent short-sighted. A Financial for better approach is Lutherans in to stick to a longWaterloo. Contact him term strategy built at 232-2321 or on proven investbret.trasamar@ ment fundamenthrivent.com. tals, and aligned with your goals and objectives. Here are six simple steps that can help put your financial plan on the right track.
1. If your employer offers a 401(k) plan, use it. For a variety of reasons, it is often going to be your most attractive investment opportunity. Most employers will match a portion of your contributions, making your effective returns higher. If you contribute $1,000 to your plan, for example, and your employer matches that at 50 cents on the dollar, your contribution is actually worth $1,500. A 401(k) also offers tax advantages on contributions and investment gains. Finally, it puts your contributions on autopilot via systematic payroll deductions. That makes it less likely you’ll skip contributions, and also lets you take advantage of the powerful benefits of dollar-cost averaging*. Simply put, your regular, fixed-dollar contributions buy more shares when prices are low, and fewer when they’re high. 2. Understand your investment horizon. Many people underestimate how long their retirement
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savings will need to last, which can lead to a host of mistakes. Some invest too conservatively, making it hard for their portfolios to keep pace with inflation. Others draw down their assets too quickly in retirement, boosting the odds that they’ll run out of money in old age. The average 65-year-old in good health today can expect to live about 20 more years. Your investment strategy should reflect the possibility that you will not only meet, but perhaps exceed, the life expectancy averages. 3. Don’t underestimate the corrosive effects of inflation — even at low levels. At a rate of just 2 percent, inflation cuts the buying power of a dollar by a third in about 20 years. At 3 percent, it does the job in 14 years. Make sure your portfolio includes some assets, like stocks, that historically have outperformed inflation over long periods of time. 4. Diversify your investment portfolio, but understand that you
will need to do more to mitigate longevity risk. Diversification is the simplest and most effective approach to managing investment risk, but is ineffective at managing many other threats to your financial security. Longevity risk, for example — the risk of outliving your savings — is best managed by pooling your risk with other investors. One way to do that is with an annuity contract issued by an insurance company. Certain annuity contracts work like old-fashioned pension plans, paying a fixed income for life. Some include escalation clauses that increase your payout over time to keep pace with inflation. Knowing that you have provided for your basic living expenses with an annuity can provide the reassurance you need to take a long-term perspective on stocks and other growth-oriented investments—the ones your portfolio needs to keep pace with inflation.
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Study: Jobs will be plentiful, but … 5. When investing in stocks, don’t confuse where a company is headquartered with where it earns its money. Many people are looking to capitalize on investments in the fast-growing emerging economies of Asia, Latin America and Eastern Europe. Often, though, emerging-market companies are not fueled by growth in their own economies. Many are mining or other natural resources firms whose results are driven by global commodity prices. Rather than investing directly in emerging markets, a better alternative may be to invest in U.S. companies that do business globally. Many of these companies have brands that are household names in
emerging markets, and some even earn more overseas than they do in the U.S. In fact, a large share of the profits of the companies in the Standard & Poor’s 500 Stock Index is generated outside the U.S. Bottom line, you already enjoy substantial global diversification with U.S. stocks. 6. Don’t be afraid to ask for help. The ever-expanding array of alternative investments can seem overwhelmingly complex, and may require frequent and ongoing attention. Rather than trying to do it yourself, consider working with a financial professional. Getting their advice on matters critical to your financial well-being will usually make good fiscal sense.
The Atlanta Journal-Constitution Weekly and monthly, we get indications of what the job market looks like nationally, and from time to time we get data on the best employment prospects and the know-how needed to land a job in the hottest industries. Georgetown University is the latest to paint a portrait job growth and education requirements through 2020. Its research focuses on which fields will create the most jobs, education requirements and the skills that employers will covet the most. The good news is job opportunities will be plentiful. On the downside, the country will be short by 5 million workers who have the education that will be needed to fill the openings. “If the U.S. Congress can deal with budgetary challenges, we are on schedule for recovery,” said Anthony P. Carnevale, director of the center, a nonprofit research and policy institute. “But we will still face
a major shortage of collegeeducated workers especially as baby boomers retire.” Here are Georgetown’s findings: ■ There will be 55 million job openings in the economy through 2020: 24 million openings from newly created jobs and 31 million openings due to baby boom retirements. ■ By educational attainment: 35 percent of the job openings will require at least a bachelor’s degree, 30 percent of the job openings will require some college or an associate’s degree and 36 percent of the job openings will not require education beyond high school. ■ STEM (science, technology, engineering and math), health care professions, health care support, and community services will be the fastest growing occupations, but also will require high levels of post-secondary education. ■ Most jobs will require some type of post-secondary education, and individuals that only
“The country will be short by 5 million workers who have the education that will be needed to fill the openings.” possess a high school diploma will have fewer employment options. ■ Employers will seek cognitive skills such as communication and analytics from job applicants rather than physical skills traditionally associated with manufacturing. ■ The United States will fall short by 5 million workers with postsecondary education — at the current production rate — by 2020. The Georgetown study, based on data from the U.S. Bureau of Labor Statistics, is a follow-up to its 2010 research, “Help Wanted: Projections of Jobs and Education Requirements Through 2018.”
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Vacation up; sick leave isn’t Los Angeles Times Americans workers get more vacation time today than a decade ago, but far fewer paid sick days, according to new government data. The average full-time worker at a private company gets 10 days of vacation a year, up from eight days in 1993, according to the analysis by the Bureau of Labor Statistics. That expands over time, with the
tions is being more than offset by a pronounced reduction in paid sick days off. For the average full-timer who’s been at his or her company for a year, paid sick time has dropped to eight days from 10 days in 1993, according to the BLS. That’s the exact reverse of the increase in vacation. And the gap between now and the past widens the longer a work-
average employee getting 14 vacation days after five years (compared with 13 days in 1993) and 20 days after 20 years (versus 18 days in 1993). This is good news considering the widespread advice from researchers about the psychic and professional benefits of taking vacations. However, the boost in paid vaca-
er is at a company. The average person today gets eight sick days after five years (versus 13 in 1993). That rises to 10 paid sick days after 20 years. But that’s down from 17 days a decade ago. And don’t count on making it up at Christmas or other holidays. The average worker gets eight holidays off a year, down from 10 a decade ago.
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management
Culture trumps tools every time I’m frequently asked, especially by prospective clients, on the relative importance of tools and culture to a successful Lean implementation. This is a topic of an ongoing debate throughout the many facets of business (manufacturing, health care, finance, government) that are using Lean to improve. As a Lean pracRick titioner, it’s also Brimeyer is the president something I think of Brimeyer about frequentLLC, an ly. My answer independent has been steadily management consulting firm evolving. Perhaps a decade baed in Ames. ago, I would have Contact him at 515-450declared tools and 8855 or rick@ culture as equal brimeyerllc. partners in ensurcom. ing success. Over time, my assessment of that 50-50 relationship has moved through 80 percent culture, 20 percent tools and today stands at 90-10 culture. Ask me again in the near future and I wouldn’t be surprised to hear myself saying that Lean success is 99 percent dependent on a healthy culture. That’s unfortunate, because attaining tools is a relatively straightforward task. But it also explains why the vast majority of Lean initiatives fail to realize hoped-for results. Lean isn’t unique in that respect. It’s just the way life works. If simply buying weight loss pills and the amazing abs master got the job done, we’d all look like Brad Pitt or Angelina Jolie. Perhaps the best analogy I can give as to the relative importance of culture and tools involves fish-
ing (something else that I’ve been thinking about frequently this summer). No matter how much is invested in high-tech fishing poles, line and shiny lures (all great tools), disappointing results are assured if one is casting into a cesspool (lousy culture). On the other hand, it’s surprising what can be used to catch fish when fishing a wellmanaged lake and sitting on top of a school of hungry lunkers. This explains why choosing the right consultant is so important. There are a lot of very capable tools salespersons out there. But, as mentioned previously, tools are the easy part. Transforming the mindset of your organization so that management and employees will work together to embrace those tools is an entirely different matter. That’s the tough part because it almost always involves behavioral change, starting with management. The right consultant possesses a proven track record for managing the critical relationship with management. That includes both the ability to diagnose the current culture, the skill to prescribe actions to improve it, and the fortitude to hold management accountable for changing. The latter has no doubt led to the dismissal of some good consultants over the years. But don’t worry about them. They were almost certainly relieved to be free of a no-win situation. Because they were successful, they likely had a nice backlog of work awaiting them. And since they were disciplined Lean practitioners, they almost certainly tweaked their future client selection process to flag out management teams that were only interested in purchasing tools.
Sentences repeated in August article
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Correction Due to an editing error, two sentences were inadvertently repeated in the Heather Stahl column head-
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Local women’s funds create philanthropic opportunities The role of volunteer and giver is a traditional one for women, yet few women have traditionally thought of themselves as philanthropists. Fewer still have understood their potential as philanthropists. Women have made great strides in leadership roles in business, government, science, athletics and professional endeavors, and they have continued to be involved with the causes they believe in. ToAli Parrish day, women direct the majority is Black of philanthropic dollars in the Hawk County United States, and research inDevelopment dicates women give for many Director at the different reasons than men and Community they do not expect the same Foundation kind of recognition as men. of Northeast Iowa. Contact According to a 2009 study by her at 287Sondra Shaw-Hardy and Mar9106 ext. 12 tha Taylor of the Women’s Phior aparrish@ lanthropy Institute, women tocfneia.org. day have six basic motivations for giving, called the “Six C’s”: ■ Create — Women want to create new solutions to problems and like to be entrepreneurial
with their philanthropy. ■ Change — Women give to make a difference and are less interested in providing unrestricted support to preserve the status quo of an organization or institution. ■ Connect — Women prefer to see the human face their gift affects and want to build a partnership with people connected with the project they fund. ■ Commit — Women commit to organizations and institutions whose vision they share and often give to the organization for which they have volunteered. ■ Collaborate — Women prefer to work with others as part of a larger effort and seek to avoid duplication, completion and waste. ■ Celebrate — Women seek to celebrate their accomplishments, have fun together and enjoy the deeper meaning and satisfaction of their philanthropy. A 2011 study called The Impact of Women’s Giving Networks by The Center on Philanthropy at Indiana University states that the growth in women’s philanthropy is a key trend in 21st century philanthropy.
See WOMEN, page 24
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Flirting at work isn’t a great idea Jena McGregor Special to The Washington Post Consultants have given us the term “strategic advantage.” Public relations folks offer “strategic communications.” And now, the academic world has bestowed upon us “strategic flirtation.” At last month’s Academy of Management conference in Orlando, Fla., researchers presented a paper that uses that term to discuss how much workplace flirting happens in different organizational cultures — and its consequences. The paper is based on survey responses from 281 female lawyers at 38 law firms in the Southeast. Each
lawyer responded to questions about how often they engage in “socio-sexual” behaviors to get ahead in the office, such as “I smile flirtatiously at certain men at work” or “I sometimes try to play dumb or act like I need help from a male at work.” They also answered questions about how masculine or feminine their work environment would be described and how they were treated on an everyday basis. A law firm was described as masculine not by how many men worked there, but by whether the women described it as aggressive, competi-
tive, ambitious or risk-taking. Meanwhile, a firm’s culture was described as feminine if terms like sensitive, loyal, warm and empathetic could be used. The more masculine the culture, the researchers hypothesized, the more common the flirting would be. They were right: “A workplace that emphasizes the masculine norms of competition, ambition and assertiveness will encourage employees to aggressively seek to use their assets to ‘win’ at whatever cost.” Where they were wrong, however, was in judging how flirtation
would be treated. They thought such behavior would be forgiven in both aggressive and sensitive organizations — masculine cultures would tolerate it, while the more compassionate feminine cultures would keep flirts from being mistreated. As it turns out, the more competitive cultures weren’t so forgiving. While their environments may have encouraged women to flirt, they didn’t shield coy coworkers from judgment. Bottom line: Flirting at the office — even if it’s common in some cultures — isn’t such a good idea.
WOMEN
Women’s funds are one example of these networks. Hundreds of women’s funds now exist in community foundations and as standalone foundations across the U.S. today, and the number is growing. Women’s funds offer women a unique opportunity to shape the future in their communities and meet a dual mission of serving charitable causes and encouraging philanthropy in women.
Women’s funds come in various shapes and sizes, but typically, a women’s fund is an endowed fund that will increase the financial resources available to programs and organizations for women and girls in a community or region. For example, the Community Foundation of Northeast Iowa’s Women’s Fund is a permanently endowed fund administered by CFNEIA’s Women in Philanthropy members, who rec-
ommend annual grants of $10,000 to projects and programs benefitting women, girls and families in Black Hawk County. Women’s funds encourage women to think of themselves as philanthropists and give them an opportunity to share their philanthropic values with others. They enhance and expand leadership opportunities and enrich the quality of life for people in a community.
From page 22 Additionally, a feature of the changed landscape for women’s giving is the creation of networks of women philanthropists, which affords women more leadership and engagement opportunities than in more traditional philanthropic settings.
business loans
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consumer protection
Money transfer scams common The stories are countless and convincing, but they all have something in common: a stranger or caller you think you know wants you to wire money through money transfer companies such as Western Union or MoneyGram. These stories often end the same way: you Tom Miller lost the money you is attorney wired. general for Wiring money Iowa. Contact can be like leavhis office at ing an envelope (515) 218-5926. of cash on a table. Once you send money and a stranger picks it up, you can’t get it back. Recipients can almost always pick up the cash at multiple locations in foreign countries, making it very difficult—if not impossible—to trace. Never wire money to someone you don’t know or haven’t met in person—even if you think you
know the person who called you with a convincing story—even if it sounds like a personal emergency. Never agree to wiring money after depositing a check.
Common scams
■ Work at home scams: The ad says you can be your own boss as a “secret shopper” who evaluates a money transfer company’s customer service. Someone sends you a cashier’s check. You’re supposed to cash it, wire a lesser amount, and keep some for yourself for your time and efforts. Although the check appears to be legitimate, days later you find out it isn’t—and your bank holds you responsible for the lost funds. ■ Lottery and sweepstakes scams: Someone contacts you by phone, through the mail, or via the Internet, and claims that you’ve won a lottery or contest. You’re supposed to deposit a check and pay a processing fee or taxes through a wire transfer. Again, the check may appear legitimate—but you’ll soon
find out it isn’t and you’re on the hook with your bank for the lost money. ■ “Grandparent” scams: A frantic caller — who tries to convince you they’re a relative, government official or even a defense lawyer — says there’s been an accident or incident that landed your loved one in jail, the hospital or some other sort of jam. They tell you they need you to wire money immediately. No matter how bad it sounds, take time to verify the story. Ask personal questions that only your loved one would know. Try to contact other family members, a close friend or even law enforcement to help you gather the facts. ■ Overpayment scams: Someone responds to an ad you placed, writes a check for more than you asked for and asks you to wire the difference. Or they may say they have reconsidered and want you to deposit their check and wire a refund. The check will bounce and you will be out the money.
■ Rental scams: You respond to an ad that advertises a place to rent for a low price. The “landlord” claims to be out of the country on business or missionary work. You wire them the first and last month’s rent. They’re gone, your money is gone and so is the place you wanted to rent (which wasn’t theirs to rent to begin with). You should only deal with local landlords, be suspicious of below-market rental rates and don’t wire money. If you wired money and fear you’ve been scammed, contact the wire transfer company immediately to report it. You can report suspected fraud to Western Union’s fraud hotline at (800) 448-1492, or MoneyGram at (800) 666-3947. Unfortunately, it may be too late to stop or reverse the money transfer but make every effort. You should also file a police report, and file a complaint with the Federal Trade Commission at www.FTC.gov. You can also file a complaint with the Attorney’s Consumer Protection Division.
Plenty to Smile About When Dr. Lucas Boe wanted to move to the Cedar Valley and purchase an existing orthodontic practice, he needed a financial partner that could work with him from a distance. First National Bank came highly recommended. “The bank knew a lot about the practice, and they demonstrated trust in the business model and in me. By the time I moved to town, we had already developed a strong working relationship— which made the transition much easier.” – Lucas Boe, DMD, Zwanziger & Boe Orthodontics
Waverly Cedar Falls Plainfield 319-352-1340 • 319-266-2000 • 319-276-4469
www.MyFNBBank.com 26
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35657 67' 8 6 3267$*( PAID 3(50,7 1R :DWHUORR ,$
David P. Wilson, CCIM
Jack E. Jennings, CCIM
Medical/Professional Office Building ding
Dustin W. Whitehead, CCIM
Light Industrial Ligh
PRICE REDUCTION
845-847 W 4th Street, Waterloo • • • •
Listed well under assessed value $399,000 $6.00/sf NNN 12,431 sf of total finished area
• Split-level construction • Sale includes lease to 2,720 sf oral surgeon • In CURA & Enterprise Districts
ludes lease to 2,720 sf oral n prise Districts A & Enterpr
Light Industrial
17075 Market Avenue, Holland • • •
$585,000 One story pre-engineered metal/steel frame light industrial building 20,400 SF built in 2002 & updated in 2007
• •
Storage mezzanine over the 1,520 SF office area 24’sidewalls, 2 docks and 1-14’x14’ overhead door
Monroe Street, Waterloo 1225114 W Ridgeway Avenue, Waterloo • $165,000 • Great opportunity for a small auto repair or work shop • 14’Overhead doors
• Pit to change oil and a wash bay • Additional +/- 1.34 acres available at $95,000
Multi-Family amily Investment PRICE REDUCTION
202 Cedar Avenue, Waverly • $3,490,000 • 58 apartment units ranging from 1-4 bedrooms • 73.37 AC zoned Commercial & Ag
• 16 garage units • On-site leasing office & laundromat • 9.4% cap rate