Small investments in employee training, recognition and benefits improves morale and the bottom line
Most of us know intuitively that the human element is what differentiates us from other businesses. It is easy to lose sight of it at time when we get wrapped up in a new piece of machinery, a new process or technique. We know that anyone with a bank account can buy the technology. It takes more than money to build, motivate, and manage a team whose job it is to identify customer needs to create innovative cost-effective processes to meet those needs and to deliver the product or service to the customer.
In this issue, we focus on the human side of business. Jerry Davich shares some best practices from several local businesses that are recognized one way or another as good places to work. Being recognized as a company where people want to be has financial benefits. Studies show that businesses whose employees feel they are treated well are rewarded with financial returns between two and three times higher than average, with 50 percent lower turnover, and with higher customer satisfaction.
The demographics of the Region is changing. The overall population for NWI is shrinking, aging, and becoming less White and Black and more Hispanic and Asian. As the demographics change, so does the local workforce. Bob Moulesong talks with local leaders who share their data and perspective on how the local economy is adapting to the changing workforce.
Technologies come and go, but the need for a well-trained workforce is constant. Lauren Caggiano talked with local experts who offer programs and assistance to employers who want to find new workers and retrain their current workers. Training helps employees of all ages feel confident they can learn, even mid-career, preventing them from becoming stuck in a role without any opportunity to advance.
Indiana’s unemployment rate has been under the national average for the last several years creating a job seekers market. Lesly Bailey shares ideas for employers who what to update their benefits packages with a focus on lowering their turnover and recruitment costs by retaining and promoting their current workers.
Also in this issue, Carrie Napoleon introduces us to some wellness activities that include a chance to socialize and relax afterward with a drink or two. Jerry Davich profiles CPA firm Swartz Reston and tells us why they are older than they think. John Cain and Jack Walton update us on things to do and see in NWI and South Bend. Sol Estrada and Andriana Cattan explain how the SLYCE leadership program is making a difference in their lives as they strive to make a difference for others. Larry Avila takes a look at high school football and how victories leads to fans and more funding. Finally, Dr. Vanessa Allen-McCloud president of the Urban League of NWI reminds us that courageously speaking out against injustice can lead to change.
Thank you for reading this issue of Northwest Indiana Business Magazine! Click to read more from the Aug-Sep 2018 issue.