Monthly Archives: May 2012

Everyone Needs a Vision… Including Indiana

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Categories: Chamber News, Indiana Vision 2025

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Indiana Vision 2025 is hitting the road. If you’re not already familiar with Indiana Vision 2025, it’s a long-range economic development plan for the state, a follow-up to the successful Indiana Chamber-led Economic Vision 2010 initiative.

Where is the road leading? In the next three weeks, to regional forums in Merrillville, Fort Wayne, Sellersburg, Evansville and Indianapolis. Approximately 40 business, community, government, non-profit and education leaders in each area will learn about the plan and, more importantly, share their own regional challenges and opportunities. Many areas of common ground are expected.

The mission statement reads: "Indiana will be a global leader in innovation and economic opportunity where enterprises and citizens prosper." Initiatives are grouped under four driver areas: Outstanding Talent, Attractive Business Climate, Superior Infrastructure, and Dynamic and Creative Culture.

Indiana Vision 2025 was developed over the course of 18 months by a 24-person task force of statewide leaders. The Indiana Chamber is coordinating, working with a number of other organizations. The focus now is to gather widespread support and begin the work toward enacting as many of the goals as possible for the benefit of as many Hoosiers as possible.

Check out the current version of the full plan and ask yourself one question: What can I do to help make Indiana the absolute best it can be?

Finding Workers is Tough, Especially in These 10 Areas

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Categories: Human Resources

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The bad news is that there is a talent mismatch — many of the unemployed don’t have the skills necessary to fill the numerous job openings. The even worse news is experts expect the problem to deepen before it improves.

The ManpowerGroup recently conducted its seventh annual talent shortage survey and identified the 10 most difficult jobs to fill (more on that in a bit). Melanie Holmes, a vice president with the company, explains.

During the recession, employers made broad, deep cuts to their workforces. They learned to do more with less, she explains. “People who remained employed expanded their roles; they picked up new skills, they added responsibilities.”

As a result, many of the jobs that were cut during that time are not coming back. They have morphed into higher skill and higher paying positions. Consequently employers are more selective about the skills they require for an open job.

“They are looking for people who have multiple skill sets and varied backgrounds, and those individuals are hard to find, especially among individuals who have been out of the job market for an extended period of time,” adds Holmes.

Two more numbers from the survey: 49% of employers are having a hard time filling vacant positions; 55% of those cite a lack of qualified applicants.

Now for that top 10 list of where, oh where, are these skilled workers:

  1. Skilled trades
  2. Engineers
  3. Information technology staff
  4. Sales representatives
  5. Accounting and finance staff
  6. Drivers
  7. Mechanics
  8. Nurses
  9. Machinists and machine operators
  10. Teachers

More from Holmes:

“Many skilled tradespeople are older and beginning to retire. As we’re losing workers to retirement, we’re finding that there is not enough young talent to fill the ranks. We have seen less emphasis on steering youth toward vocational and technical programs over the last 20 years, and now we’re feeling the impact.”

Part of solving this problem involves changing the mindsets of parents and young people and bringing honor back to the skilled trades, she says. Careers in areas like plumbing and welding offer a lot of opportunity and family-sustaining wages.

It turns out geography also plays a significant role. Skilled trades workers may be in short supply in one region but find it tough to find a job elsewhere. The same goes for engineers (No. 2), machinists (No. 9) and teachers (No. 10). 

Ranking the Best to Invest for 2011 Around the Globe

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Categories: Tax/Finance

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Site Selection magazine is well known for its tracking of business projects and rankings of economic activity. One of its newest projects (in its fourth year) is Best to Invest ratings. Half of the evaluation is based on its comprehensive database of new and expanded facilities, with the other 50% an analysis of business environment, business risks, foreign direct investment and infrastructure.

Here are top countries in five global regions. The metro rankings in these regions are based on similar factors as above, but with a slightly different weighting formula.

Western Europe

  • Top five countries: Ireland, United Kingdom, Germany, Austria and (tie) Switzerland and Italy. Top five metros: Dublin, Ireland; Frankfurt, Germany; Edinburgh, Scotland; Birmingham, England; and (tie) Belfast, Northern Ireland and Paris, France.

Eastern Europe

  • Countries: Hungary, Poland, Slovak Republic and (tie) Estonia and Czech Republic. Metros: Budapest, Hungary; Moscow, Russia; Bucharest, Romania; Prague, Czech Republic; and Warsaw, Poland.

Asia-Pacific

  • Countries: Singapore, Australia, (tie) Malaysia and South Korea, Vietnam. Metros (first three in China and last two in India): (tie) Beijing and Shanghai; (tie) Chongqing and Chennai; and Bangalore.

Africa and the Middle East

  • Countries: South Africa, Bahrain, United Arab Emirates, Saudi Arabia and Qatar. Metros: Port Elizabeth, South Africa; (tie) Nairobi, Kenya; Cairo, Egypt; and Kinsasha, Congo; and Casablanca, Morocco.

Latin America

  • Countries: Mexico, Brazil, Costa Rica, Chile and Argentina. Metros: Sao Paulo, Brazil; Rio de Janeiro, Brazil; Mexico City, Mexico; (tie) Guadalajara, Mexico and Monterrey, Mexico.

 

Nearly 600 to Benefit From Insurance Refunds

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Categories: Business News, Health Care, Human Resources

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Small businesses and their employees can certainly use some good news in these still unsettled economic times. It came for nearly 600 organizations and their workers from what might be termed a nontraditional source — the Indiana Department of Insurance (IDOI).

The relief comes in the form of $2.75 million in refunds from the subsidiaries (Time Insurance Company, Union Security Insurance and John Alden Life Insurance Company) of Assurant Health. The reason: the Assurant companies were charging small businesses rate increases since October 2010 that had not been approved by IDOI.

IDOI Commissioner Stephen W. Robertson says, "Small businesses everywhere already struggle to provide health insurance to their employees because of the cost. I am pleased we were able to negotiate a settlement that makes employers whole."

The reason for the problem, according to IDOI, which has authority from the Indiana General Assembly to review health insurance rates.

In reviewing rates, the Department considers the rate justification provided by the company and determines independently if the company’s filing is sound and justified. Because Assurant’s policy forms had been on file since 2007, Assurant believed that its renewal rates were not subject to review by the Department. After being contacted by the Department about its concerns, Assurant worked out this agreement which ensures employers will promptly receive refunds.

IDOI encourages consumers and business owners to visit the Rate Watch web site to monitor rate filings in order to be more engaged with the process, submit comments, budget and plan for health insurance costs. Questions or concerns can be addressed online or by calling (800) 622-4461.

Kudos to IDOI, as well as Assurant for doing the right thing when the problem was discovered. 

IBJ: Changes at Speedway Help Businesses, Bottom Line

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Categories: Business News

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The Indianapolis Business Journal’s blog, The Score, posted an interesting piece today, contending the many changes at the Indianapolis Motor Speedway have things moving in the right direction. Among those, its focus on giving more value and opportunity to its corporate partners is targeted as a momentum shifter. What’s more, it mentions that our former chairman, Andre Lacy, is now playing a prominent role on the Speedway’s board.

We’re excited to see IMS racing toward a bright future — not just because it’s an Indiana Chamber member, but because it’s such an instrumental figure in the history and future of our great state. IBJ writes:

Tony George is no longer head of the operation. But he is on the board. This is a board that has in recent years decided to significantly expand itself beyond familial borders.

Shortly after George was replaced by Belskus in 2009, several board members were added to the mix, notably LDI Chairman Andre B. Lacy and former Anthem Chief Financial Officer Michael L. Smith. Before that move, the board was largely run by Mari Hulman George, her three daughters, and son, Tony.

Indiana Pacers President Jim Morris and Central Indiana Corporate Partnership CEO Mark Miles, who chaired the 2012 Super Bowl Host Committee and is former CEO of the ATP Tour, were added this year, as was Belskus.

When I asked Lacy why he had been added to the board overseeing the Speedway, he deadpanned: “Everybody needs a boss.”

It was clear, the inner circle had been broadened by a new thinking—and a new level of checks and balances.

At first, Belskus seemed awkward in public and uncomfortable with the media. Quickly it became apparent he was serious about following the new board’s primary objectives: Cut expenses and raise revenue…

Last year, Belskus hung corporate signage along pit lane. This year, he made the bold move to sell wall space in turns three and four to Fuzzy’s Ultra Premium Vodka and Shell Oil Co. It was the first time such ads were hung at the Brickyard.

Also this year, NTB, a national car service and retail outlet, will have signage in the grass at turn one and signage will be hung on the back of existing video boards. Also firsts at the vaunted Speedway.

IMS’ opening up of areas previously off-limits to advertisers has created a swell of interest among marketers. In addition to Fuzzy’s, Speedway officials signed new deals this year with Continental Tire, Nissan, Visit Florida, First National Bank of Omaha, 5-Hour Energy, Farmers Insurance, Nationwide and Banana Boat.

Belskus told IBJ he expects a strong double-digit increase in sponsorship sales this May at the track and a possible 10-percent plus increase in total revenue for this year’s Indianapolis 500 over last year.

IMS Chief Sales and Marketing Officer Mike Redlick said “there’s been a change in philosophy” at the track. At the heart of the change, said Speedway executives, is creating an event that is more friendly toward the track’s corporate partners.

Bicycle Built for Two… or 93, at Sheridan Company

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As it’s becoming more and more necessary for organizations to institute wellness initiatives and encourage employees to lead healthier and more productive lives, I’ve written a number of stories on the topic. And throughout the research and interviews for those stories, I’ve heard of a number of unique wellness programs.

But, I’ve never seen one like this: EMC Precision of Sheridan is celebrating a cost-saving achievement by giving each of its 93 employees a bicycle on June 1. Employees will be recognized with a company-sponsored cook-out that afternoon. (The company’s headquarters in Elyria, Ohio will have a similar celebration with bicycles for those employees as well.)

Each quarter, EMC Precision sets a theme and cost-saving goal. The first quarter of 2012 was “Eliminate Waste,” with a goal of employees submitting $150,000 worth of approved cost savings. The company exceeded that goal by double and now saves $300,000.

The precision machining company has a theme for each quarter and most recently the themes have focused on lean manufacturing. The second quarter theme takes it a step further and ties together being lean with being healthy, so the bicycles will come in quite handy. Each employee was also given a pedometer to track steps each day and every employee who reaches 10,000 steps a day will be entered into a drawing to give away 20 iPads.

EMC’s Travis Watson explains that the themes inspire the company as a whole – something that is often a challenge as the company grows.

“It sets the tone for the quarter and gives all the employees a central focus. We have a common bond of a goal that we’re trying to achieve,” he says.

For the previous quarter, Watson notes that employees submitted a wide range of ideas for cost-cutting: buying cheaper materials to make parts run faster, cutting down on outside operation costs, saving money on paper and more. He called the results “unbelievable.”

The company has partnered with Bicycle Garage Indy to secure the bicycles. Watson adds that if any employee does not wish to participate and receive a bicycle, those bicycles will be donated to a local charity that partners with Bicycle Garage Indy.

Splitsville: Facebook a Divisive Medium for Couples

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Categories: Technology

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Facebook has many great qualities. It allows us to keep in touch with friends — close and distant — via comments, emails and photos. However, it seems the flirting and rekindling going on in the medium is at least a factor in many divorces — more specifically, a third of them. Wow. SmartMoney has this unnerving report:

More than a third of divorce filings last year contained the word Facebook, according to a U.K. survey by Divorce Online, a  legal services firm. And over 80% of U.S. divorce attorneys say they’ve seen a rise in the number of cases using social networking, according to the American Academy of Matrimonial Lawyers. “I see Facebook issues breaking up marriages all the time,” says Gary Traystman, a divorce attorney in New London, Conn. Of the 15 cases he handles per year where computer history, texts and emails are admitted as evidence, 60% exclusively involve Facebook.

“Affairs happen with a lightning speed on Facebook,” says K. Jason Krafsky, who authored the book “Facebook and Your Marriage” with his wife Kelli. In the real world, he says, office romances and out-of-town trysts can take months or even years to develop. “On Facebook,” he says, “they happen in just a few clicks.” The social network is different from most social networks or dating sites in that it both re-connects old flames and allows people to “friend” someone they may only met once in passing. “It puts temptation in the path of people who would never in a million years risk having an affair,” he says. Facebook declined to comment.

Survey: Boomers Retiring on Time, After All

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Categories: Business News, Human Resources

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Been there, done that and now it’s time to have fun!

Retirement is coming early for Baby Boomers, according to a new study challenging the prevailing notion that seniors are postponing their workforce departures.

The MetLife report reveals that among individuals born in 1946 (the year the Baby Boom began), 59% were either partially or fully retired by age 65. Men (born in ’46) continued working, on average, until age 59.7. For women, the milestone was 57.2.

You know the famous “you’re only as old as you feel” expression? Most participants, on average, share that they won’t consider themselves old until they near 80 (age 79 to be exact). How cool is that?

Here’s one of the best findings, in my opinion: 96% of respondents are enjoying retirement at least somewhat.

Hooray! We may not have to keep our noses to the grindstone as long as we initially thought. And it’s encouraging to know that when we do bid our jobs a (hopefully friendly) farewell, the best may be yet to come.
 

Striving to Shrink the Red Tape for Companies

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Categories: Chamber News, Government

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The Indiana Chamber hosted Congressman Todd Rokita (4th District) on Monday for the one-year anniversary of the Red Tape Rollback program. Rokita and the Chamber teamed together in the spring of 2011 to strive to identify and do something about unnecessary and overly burdensome federal regulations that kill jobs and negatively impact the economy.

In the initial 12 months, 71 Hoosier companies and individuals contacted the congressman’s office about 41 different regulatory issues. The work of Rokita and his staff has yielded 18 Red Tape Rollback victories thus far, with efforts continuing on other issues.

An annual report outlines the concerns and the accomplishments. It’s not too late for you to let us know about federal regulations and their impact on your business.

In case you’re not convinced there is a problem, consider that the most recent edition of the Code of Federal Regulations consists of more than 101 million words. That compares to just over 4,500 words in the U.S. Constitution.