Business Monthly - May 2013

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Nobody envisions a spank-ing-new college gradu-ate entering a recruiter’s

office, plopping two feet on the host’s desk and saying, “Show me the money.”

Launching a ca-reer remains as nerve-wracking and angst-ridden as ever, accord-ing to many young workers on the cusp of gradua-tion.

However, the landscape seems a bit more stable these days than it was just a couple of years ago, re-cruiters say.

That puts at least a sliver of power in the hands of graduates that their recent prede-cessors may not have had.

As Becky Kolub, senior recruiter with insurance company Trans-america Corp. described it, the dy-namic has shifted in favor of stu-dents in the last year or so.

“Starting in 2008, it was more of an employers’ market, and we could be a little bit more selective in the types of students that we were hiring at that time, the high-est GPAs,” she said.

This month, as a fresh crop of graduating seniors hits the job market, employers find themselves having to compete harder for top candidates.

It’s a topic that has been much on the mind of employers and eco-nomic development leaders in the Cedar Valley in recent months.

The Greater Cedar Valley Alli-ance & Chamber hosted a couple of events in recent months tailored to giving area employers some insight on communicating with graduates more effectively and to keep candidates from leaving for

potentially greener pastures else-where.

Britt Jungck, director of busi-ness services with the Alliance & Chamber, said graduates know they have more leverage these days.

“I think it means that they have a better chance of actually finding the career that’s right for them,” Jungck said. “There’s been genera-tions of us who had to settle to get a paycheck. Your loans and bills were starting. Your health insur-ance was ending. If you didn’t have a job, you knew you were going to have to keep bagging groceries, cleaning houses or nannying kids. Now, there’s an excitement that all this money they just spent on their education is going to make them happy.”

The outlook is perceptibly bright-er, Jungck said.

“There’s been four years of doom and gloom, and you see a new confidence in a lot of them,”

Jungck said. “Although there’s still anxiety, I’m sure, they’re confident there is something out there for them.”

Employers are sensing this, too, and they’re feeling new heat from competitors. This month, the Ce-dar Valley Business Monthly takes a look at their concerns and how they plan to step up their recruit-ing strategies.

The Alliance & Chamber has conducted several events designed to give employers new ways of thinking about the old game of re-cruiting. Another event is sched-uled for 9 a.m. to 3 p.m. May 30 at the Waterloo Boat House. The event is focused on giving employ-ers insights into modernizing their workforce and environments in a way that connects with new grad-uates.

In all, graduates find themselves in an enviable position. Now, it’s employers’ turn to up the ante and market themselves.

Jim Offneris the Courier

business editor. Contact

him at jim.offner@ wcfcourier.

com.

Employers see recruiting rules change a bitfrom the editor

Cedar Valley Business Monthly is a free monthly publication direct-mailed to more than 5,300 area businesses.

Contact us at (319) 291-1448 or P.O. Box 540, Waterloo, IA 50704.

EDITORIAL STAFF

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UNIVERSITY OF NORTHERN IOWANew grads must be entrepreneurs, even if they're working for someone else. page 10

contents

BRANDON POLLOCK Cedar Valley Business Monthly

COVER STORY

Students and employers attending job fairs this spring find the employment market has shifted.

page 6

CeDAR VAlley BuSiNeSS MONtHly may 2013 �

WARTBURG COLLEGEStudents must provide employers with evidence of motivation. page 12

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Cedar Valley Business monthly mAy 2013 �

Guidebook proves useful at conferenceLess than three years after

their arrival, iPads have transformed many of our

lives. People use them to read books, post on social media, work on online classes, do work proj-

ects, play games and enjoy pho-tos.

At a library technology con-ference in St. Paul over spring break most of the present-ers were using iPads, and sev-eral sessions were geared for iPad users. The proliferation of exotic iPad cas-es and Bluetooth keyboards was obvious. There were few lap-tops among the approximately 450 participants.

For another conference in

Ames, the conference agenda was available through a new app called Guidebook. The Guidebook app is available for a variety of platforms, from iPhones, iPads, Android phones to Kindles. It is a mobile app ideally suited for events, places and organizations. Use Guidebook to develop your document listing the program for a trade show, the list of sessions for a conference or products and services available at a business. Changes to the document will be reflected in users’ guidebooks.

The California-based company website explains, “More and more people are relying on their smart-phones and tablets for informa-tion about what’s going on and how to get the most out of the ex-perience once they get there. For-ward-thinking organizations have realized this and are trying to make the transition, but it can be a daunting task to create an app from scratch. Guidebook makes it simple and inexpensive to go mo-bile.”

Users can search for guidebooks where they download apps. Once

downloaded, there is also a social element; you can share guides through Twitter, Facebook, text or email. If you do a search for “Guidebook” in the Apps store, you will find a variety of titles, such as Guidebooks for EMS workers, a HazMat reference and emergency response guide and Guidebooks for travelers to many cities.

As mobile devices increasing-ly become our devices of choice, we find ourselves in a new fron-tier — some websites are mobile friendly while others are not as functional.

Why should businesses care about how their websites look on smart phones and tablets? Mobile browsing is quickly taking over.

Geoff Duncan pointed out a startling statistic in December on his website, digitaltrends: He cited research that 45 percent of web browsing was now done on mobile devices running iOS and Android, with only 35 percent of browsing being done on conven-tional Windows machines — PCs and laptops.

The research, done by Mary Meeker, projects that approxi-mately 2.9 billion people will use mobile devices by 2015. Meeker reported that 10 percent of Web traffic was coming from mobile devices in May 2012, and when Duncan posted his report he not-ed that had already jumped to 13 percent in the space of a few months.

Leaders in commerce, govern-ments, nonprofits, community or-ganizations and higher education must rethink their websites.

Users will increasingly view the Web on mobile devices, so be ready.

Cherie Dargan

is an associate professor of

communications at Hawkeye Community College in Waterloo.

Contact her at (800) 670-4769,

ext. 1701, or cherie.dargan@hawkeyecollege.

edu.

The Guidebook app is available for a variety of platforms. Use it to list the program for a trade show, the sessions for a

conference or products and services available

at a business.

technology


cover story

� mAy 2013 Cedar Valley Business monthly

You’re hired!Competition for new grads fiercer this spring

BRANDON POLLOCK Cedar Valley Business Monthly

Paul Fochtman, left, with the Frankfurt and Weisbaden International Schools, greets Ben Rengstorf during the University of Northern Iowa Overseas Recruiting Fair at the Five Sullivan Brothers Convention Center in Waterloo on Feb. 1.

Jim oFFner [email protected]

As the seasons change and temperatures climb, em-ployers are feeling more

heat as they compete for May col-lege graduates.

That is a change from the last few springs.

“With lower unemployment, you’re seeing a decreased num-ber of people looking for work and more jobs available,” said Brandon Dunford, staff manager with Rob-ert Half International, a staffing recruitment firm with an office in Cedar Rapids.

Dunford talked about the chang-

ing dynamic of the job market dur-ing the University of Northern Io-wa’s spring career fair in February. Nearly 1,000 students attended.

The career fair drew plenty of employer interest, too, likely a ba-rometer of the improving climate for job seekers, said Kristin Cahill, employer relations coordinator at UNI.

“This year, we had 126 com-panies registered compared to 112 last year,” she said. “A lot of the companies are looking for all majors and not specific majors, which is great for all the students that way. It’s a great sign that the economy is back up and people are

starting to do more hiring.”Dunford acknowledged the

game has changed a bit. Job can-didates have more leverage, espe-cially in competitive fields. Iowa’s relatively low unemployment rate only heightens the competition.

“Iowa is one of the best places to be as a recent graduate,” he said.

Becky Kolub, senior recruiter with Transamerica Corp., has not-ed the changes. The 2008 econom-ic downturn allowed employers to be selective, but the improving economy is changing things.

“We’re starting to see it lean more toward an employee market again, so it’s easier for our students

to find internships and opportuni-ties” Kolub said.

That means recruiters have to find unique ways to connect with students, particularly since poten-tial recruits are formulating job-hunting strategies as early as their freshman year. Her company has developed programs like iLEAD (integrated leadership, education and development), a two-day lead-ership event.

“We bring in freshmen and sophomores, and we give them an opportunity to network with our hiring managers and offer intern-ships out of this program,” she said.


Mike Engler, systems administrator with Hy-Vee, the West Des Moines-based grocery retailer, agreed. “Basically, we have to remain competitive, offer a lot of things that some com-panies don’t.”

A stronger handStudents can be a bit more assertive in find-

ing the right employer fit, even when it comes to pay, Kolub said.

“But I think employers are also more familiar with what everybody else is offering, and we’re taking a look at what the public accounting firms are paying and what real estate firms are paying, and we’re offering similar compensa-tion packages,” she said.

Potential recruits say they like the options they have these days.

“I do see a lot of opportunities. I also see a lot more students that are looking for the same sort of thing,” said UNI junior Jeremy Wrage, a marketing major from Traer.

Job hunters still have to do their part, though, said Eric Geiskemper, a senior marketing major from Earlville.

“With all the students coming through, you really have to set yourself apart from other peo-ple. So, trying to learn different aspects of the jobs, you can definitely reach in and set yourself apart.”

Erin Schon, a marketing/finance major from Cedar Rapids, is scheduled receive his diploma in December. He hopes a double-major is the

ticket to a better position.“I’m hoping that in December, since more

people are coming to career fairs, that there’s more of a chance for me finding a job,” he said.

Staying the courseThe ups and downs of the economy don’t affect

the recruiting strategies of every employer.“We know what we’re looking for — leaders

who can come in and motivate,” said Dave Fish-er, store team leader at the SuperTarget in Water-loo, who was seeking potential managerial candi-dates. “It really doesn’t make any difference.”

Other companies work to find the perfect fit.“We are looking for employees that would be

loyal to us and we can put some time and effort into them and keep them for the long term,” said Amy Pingel, communications and marketing coordinator at Fort Dodge-based New Coop-erative, which has 22 locations in north-central Iowa. “Once we get you in, we hope you stay for the length of your career.”

And keener competition for applicants isn’t necessarily a bad thing. Michelle Bennet, Iowa City-based market president for Skogman Realty, was looking for candidates to sell real estate.

“I think it’s good on our side of things, because there are people who are more confident jump-ing into something where there’s a little more risk,” Bennet said. “There isn’t as much worry about layoffs and what might be changing in the marketplace. People have more confidence going into this business now.”

This is myWartburg story.What’s yours?

I was actually hesitant aboutWartburg. I worked with a lot of alumniwho were orange to the core and I grew weary of hearing how greatWartburg was.

However, upon stepping on campus and immersing myself in itsethos, I completely understood the pride and allegiance to theinstitution.

Wartburg students are passionate about what they do. They arecompetitive, they appreciate the learning process, they are notsatisfied with mediocrity, they value making a difference in theircommunity and helping people, they live to serve and lead, they areinnovative and progressive. I value helping them reach their potential.

—Dr. Bill Soesbe IIIAssistant Professor of Education

Leadership. Service. Faith. Learning.��

Viewmore stories and share your ownatwww.wartburg.edu/ourstory

Erin Schon, right, talks with Brooke McLaughlin of TransAmerica during the University of

Northern Iowa career fair at the McLeod Center in Cedar Falls on Feb. 18.

CedAr VAlley BuSineSS monthly mAy 2013 �

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GET YOUR LIFE UNDER CONTROL

university of northern iowa

Grads need to be entrepreneursIt’s May, and another group of

student entrepreneurs will be graduating from our classes

and launching businesses out of our incubator. It is a good time to look at the stu-dents who will be entering the business world as employers or em-

ployees.According to

Matt Nuese, as-sociate direc-tor of career services at the University of Northern Iowa, “Many UNI stu-dents want to stay in Iowa, and eighty-five percent do. Many remain in the Cedar Val-ley or go to Des

Moines or Cedar Rapids.”

Some of the top hiring organiza-tions for UNI graduates, according to Nuese, are: Deere & Co., Wa-terloo and Cedar Falls Commu-nity Schools, Wells Fargo, Target and Principal Financial. One of the most interesting options ranked No. 9 on UNI Career Services’ 2012 graduate report: self-employ-ment. Since the John Pappajohn Entrepreneurial Center is engaged in developing student entrepre-neurs, we are especially proud of this figure.

That entrepreneurship ranks so high is not really surprising when we look at the skills employers are most seeking in future employees. Many of the skills employers de-sire are the same skills entrepre-neurs must possess.

The skills the career services re-port mentioned include the ability to work in a team; verbal commu-nication; decision-making/prob-lem-solving; obtain and process information; plan, organize, and prioritize work; ability to analyze quantitative data; technical knowl-

edge related to the job; proficiency with computer software; creating and editing written reports; and the ability to sell or influence oth-ers. It is as if the list were written to describe an entrepreneur.

UNI students excel in environ-ments with 10 to 20 employees. They are good at smaller com-panies, where they can be entre-preneurial. They enjoy taking on projects and are good workers, according the Nuese. Further, they stay at their first company 3 1/2 to 4 1/2 years on average.

Given this information on new graduates, what should Cedar Val-ley companies know?

Graduates want to see a pro-gression in their career path. They want increased responsibili-ties with the potential for promo-tion. They also want mentors. Pay is rarely a reason students do not take a job. Most students are look-ing for interesting work that pro-vides increased responsibility.

Employers can do a few things to find and retain new graduates.

One is to send their best represen-tatives to recruit students. Next is to follow up on communication. Also, offering a good training and/or mentoring program is im-portant. This is necessary because UNI educates students; we do not “train” them for a job.

Finally, do not focus on the grade point average. A good GPA in UNI’s College of Business Admin-istration is just under 3.0 because of the rigor of the education.

To learn more about hiring UNI students, register for the employer summit being offered in June. Kris-tin Cahill, UNI’s employer relations coordinator, can provide more in-formation at 273-6857.

We at the entrepreneurial center are sad to see our student entre-preneurs leave UNI but are proud of each of our UNI graduates who launches a business or goes to work for an entrepreneurial com-pany.

We also know that the fall will bring a new group of UNI entre-preneurs to the Cedar Valley.

Katherine Cota-Uyar is associate director and instructor of

entrepreneurship with the John

Pappajohn Entrepreneurial Center at the University of

Northern Iowa. Contact her

at 273-5732 or katherine.cota@

uni.edu.

10 may 2013 Cedar Valley Business monthly


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Cedar Valley Business monthly mAy 2013 11

Beyond the

with

BOAR

DRO

OM

We’ve heard you are a “Par-rothead.” What is a Parrothead? A Parrothead is usually described as an avid Jimmy Buffett fan.

When did you become inter-ested in Jimmy Buffett music? When a friend invited me to a Jimmy Buffett concert in Chicago. A fellow concertgoer describes it as “a party with 20,000 of your closest friends, and Jimmy Buffett just hap-pens to be singing.” I love that Jimmy appeals to all ages and everyone is generally in a good mood. And what hap-pens at Jimmy stays at Jimmy!

How many Buffett concerts have you attended and where?

■

■

■

Hmm, good question! My first Jimmy Buffett concert was in 2001. I’d estimate that I’ve attended about 15 concerts since then. Most of them were in Chicago (Tweeter Center or Toyota Park) and Milwaukee (Alpine Valley) with a couple in Min-neapolis and Des Moines. I’d love to attend one in Key West or someplace tropical in the future.

If you ever met Jimmy Buf-fett, what would you want to talk about?I’d like to discuss his succes-sion plan. I’m concerned that he may be retiring before long.

What is your favorite Jimmy Buffett song?Oh, I can’t choose just one. I like them all. My favorites would include the oldies of “Cheeseburger in Paradise,” “Margaritaville” and “Changes in Latitudes, Changes in At-titudes.”

If we were to visit your office would we have a clue you are a Parrothead? Well, I do have a picture on my desk with a Jimmy Buffett theme. Also, I’m inclusive, so while not parrots, you’d find a beautiful pair of pink flamin-gos.

Where is paradise for you? Paradise for me is on the beach in San Diego with my son Nate and friends.

■

■

■

■

is the CEO/Chief Inclusion Officer of Veridian Credit Union.


snoitarepO oolretaW ereeD nhoJ

12 mAy 2013 Cedar Valley Business monthly

Classroom isn’t the only place grads can shineWe’re seeing lots of em-

ployers who are look-ing at people in terms of

motivation,” said Derek Solheim, associate direc-tor of the college’s Pathways Center for Career Servic-es. “These employ-ers say they can train for some of the technical skills, but they can’t train someone to work hard.

“There is still the standard of prob-lem-solving, strong communicat ion skills in a written format, presenting information in a variety of different ways and analyzing data. But involve-

ment outside the classroom can be the difference maker.”

Wartburg students largely are taking advantage of those oppor-tunities. Nearly a third (600) par-ticipate in intercollegiate athletics, while a quarter (450) are involved in music ensembles. Student gov-ernment, student media and ser-vice experiences abound.

“With student athletes on cam-pus, for instance, employers love that ability to successfully balance time, along with the competitive-ness and the drive to do better,” Solheim said. “The same thing is true with our student leaders. They’re looking for people who can be future team leaders.”

About 55 percent of Wartburg students will have worked as in-terns — consistent with the nation-al average. Classroom research projects also can elevate a student, Solheim said.

“What I hear is that students have to find a way to stand out, just because there are so many talent-ed people out there,” he remarked. “It’s amazing their level of involve-ment when they talk about their

work, classroom experience and co-curricular experiences. For me, it’s a matter of taking that involve-ment and showing them how it’s relevant to an employer.”

On the other hand, students also may need a reality check.

A recent poll by the National As-sociation of Colleges and Employ-ers, which connects campus re-cruiting and career professionals, asked members if today’s college students “have realistic expecta-tions about the job market.”

Ninety-two percent said “no.” “Employers are finding that some

of today’s graduates want every-thing right now, when it takes mul-tiple years to work your way up,” Solheim said.

Millennials, though, are about to benefit from a generational shift as baby boomers retire en masse. That may accelerate their climb up the ladder. NACE found employers anticipate hiring 13 percent more college graduates than last year.

A March report by Iowa State economist David Swenson cited the implications of the trend. “The youngest group can be considered the skill-acquiring work force, and the latter, older group can be con-sidered the skill-applying work force,” he wrote.

Solheim explained the problem.“We’re seeing a mass exodus of

key senior leadership who have developed skills over a number of years, and we’re going to be left with young leaders,” he said. “You think of the importance of senior leadership mentoring someone — essentially grooming that indi-vidual for certain tracks within the company — that’s where I think we’re really going to fall flat.”

He added, “I’m amazed at the life skills some students lack. How to budget? How to save for my fu-ture? How do I find an apartment? That health insurance doesn’t just come from Mom and Dad. Compa-nies are running into that.”

wArtburg college

Saul Shapiro is director

of news and community relations at Wartburg College.

Contact him at (800) 772-2085.

See WARTBURG, page 13


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It’s not an isolated perception of a generation raised in great part by enabling parents.

San Diego State University psy-chology professor Jean Twenge, author of “Generation Me,” sur-veyed 1.2 million millennials and

determined they are distinguished by assertiveness, self-importance, narcissism and high expectations.

On the positive side, she wrote, they find great satisfaction in help-ing others and in being involved in social causes. They also have great belief in tolerance and equality.

Surprisingly, she found them to be less likely to conserve energy and be environmentally conscious.

“Three times as many millenni-als as boomers said they made no personal effort to help the environ-ment,” Twenge wrote in the Atlan-tic.

So, for employers, the boomers’ offspring are a decidedly mixed.

They are multitaskers, whose parents involved them in every ac-tivity imaginable. Those “helicop-ter parents” also hovered around

to meet all their needs while some-times cultivating an undue sense of self-esteem.

Meanwhile, the millennials learned by watching their parents’ lives transformed by corporations and economic circumstances that no longer rewarded loyalty. So it is not surprising that they may be primarily motivated to put them-selves first.

WARTBURGFrom page 12

Know your risk tolerance when building a portfolio

Before you can identify which investments are suited to your financial

goals, you need to determine your risk tolerance. This is your level of comfort with mar-ket volatility and/or the degree to which you are willing to risk the loss of your principal for a potentially greater return.

Some people worry about daily or weekly price fluctua-tions, but others do not. Some have more discretionary in-come and are less affected by a market downturn than others.

There is no right or wrong when it comes to your attitude

toward risk. It’s important, however, to be aware of your feelings in order to work within your own comfort zone. There are five general categories of risk tolerance. They are:

Very conservative — These investors tend to like invest-ments that are less likely to fluc-tuate and will forgo potentially higher rates of return in ex-change for safety of principal. Retirees who are concerned about the impact of a market downturn on their ability to comfortably take retirement income typically prefer a very conservative portfolio.

■

Conservative — Such in-vestors tolerate some risk as they seek a reasonable rate of return. Investors nearing re-tirement tend to move toward more conservative portfolios.

Moderate — These investors tend to like a balanced portfolio of lower risk and higher risk in-vestments.

Aggressive — These inves-tors are more comfortable with higher risk for potentially high-er returns. They tend to have investment goals with longer time horizons.

Very aggressive — These in-vestors are willing to take a sig-

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nificant amount of risk for po-tentially higher returns. Young people who do not need access to their portfolio holdings for a long period of time may be more comfortable with very aggressive portfolios.

Of course, these levels fall on a spectrum, and you may be somewhere in between one category and another. Your portfolio may include a mix of investments in different risk categories. For more help iden-tifying your risk tolerance, use the free risk assessment tool at ameriprise.com or talk with your financial professional.


your money

Larry K. Fox is a private

wealth adviser with Ameriprise Financial

Services Inc. in Waterloo.

Contact him at 234-7000.


Whether you’re a small business owner, planning for your retirement, evaluating your estate planning strategies, or starting your kids on the right foot, we can help you plan to reach your fi nancial goals through a personal, comprehensive fi nancial planning approach.

Larry K. Fox & AssociatesA fi nancial advisory practice of Ameriprise Financial Services, Inc.

3404 Midway Drive, WaterlooPhone: 319.234.7000

www.larrykfox.comAmeriprise Financial cannot guarantee future fi nancial results. Ameriprise fi nancial services, inc., Member FINRA and SIPC

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It’s not an isolated perception of a generation raised in great part by enabling parents.

San Diego State University psy-chology professor Jean Twenge, author of “Generation Me,” sur-veyed 1.2 million millennials and

determined they are distinguished by assertiveness, self-importance, narcissism and high expectations.

On the positive side, she wrote, they find great satisfaction in help-ing others and in being involved in social causes. They also have great belief in tolerance and equality.

Surprisingly, she found them to be less likely to conserve energy and be environmentally conscious.

“Three times as many millenni-als as boomers said they made no personal effort to help the environ-ment,” Twenge wrote in the Atlan-tic.

So, for employers, the boomers’ offspring are a decidedly mixed.

They are multitaskers, whose parents involved them in every ac-tivity imaginable. Those “helicop-ter parents” also hovered around

to meet all their needs while some-times cultivating an undue sense of self-esteem.

Meanwhile, the millennials learned by watching their parents’ lives transformed by corporations and economic circumstances that no longer rewarded loyalty. So it is not surprising that they may be primarily motivated to put them-selves first.

WARTBURGFrom page 12

Know your risk tolerance when building a portfolio

Before you can identify which investments are suited to your financial

goals, you need to determine your risk tolerance. This is your level of comfort with mar-ket volatility and/or the degree to which you are willing to risk the loss of your principal for a potentially greater return.

Some people worry about daily or weekly price fluctua-tions, but others do not. Some have more discretionary in-come and are less affected by a market downturn than others.

There is no right or wrong when it comes to your attitude

toward risk. It’s important, however, to be aware of your feelings in order to work within your own comfort zone. There are five general categories of risk tolerance. They are:

Very conservative — These investors tend to like invest-ments that are less likely to fluc-tuate and will forgo potentially higher rates of return in ex-change for safety of principal. Retirees who are concerned about the impact of a market downturn on their ability to comfortably take retirement income typically prefer a very conservative portfolio.

■

Conservative — Such in-vestors tolerate some risk as they seek a reasonable rate of return. Investors nearing re-tirement tend to move toward more conservative portfolios.

Moderate — These investors tend to like a balanced portfolio of lower risk and higher risk in-vestments.

Aggressive — These inves-tors are more comfortable with higher risk for potentially high-er returns. They tend to have investment goals with longer time horizons.

Very aggressive — These in-vestors are willing to take a sig-

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nificant amount of risk for po-tentially higher returns. Young people who do not need access to their portfolio holdings for a long period of time may be more comfortable with very aggressive portfolios.

Of course, these levels fall on a spectrum, and you may be somewhere in between one category and another. Your portfolio may include a mix of investments in different risk categories. For more help iden-tifying your risk tolerance, use the free risk assessment tool at ameriprise.com or talk with your financial professional.


your money

Larry K. Fox is a private

wealth adviser with Ameriprise Financial

Services Inc. in Waterloo.

Contact him at 234-7000.


When you choose First National Bank for all of your family’sbanking needs, you reinvest in everything we love about the CedarValley. Because when you work with a local partner you know andtrust, your money stays right here in your hometown—helpingyour neighbors, friends and family build a better community.Together, we’re making a difference in the Cedar Valley first.

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TIFFANY RUSHING Cedar Valley Business Monthly

alliance & Chamber dinnerCommunity leaders from Waterloo and Cedar Falls gathered for the annual Cedar Valley Alliance & Chamber Recognition Dinner at the Five Sullivan Brothers Convention Center in Waterloo on March 7.

Clockwise from top left, Jim Waterbury, left, and Bob Hellman take time to catch up.

Jim Coloff of 93.5 The Mix and 1650 The Fan greets attendees.

Waterloo Mayor Buck Clark, left, and Waterloo Schools Superintendent Gary Norris talk during the social hour.

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Financial AwardsCedar Valley Business Monthly honored the area’s top financial leaders with a reception and award presentation March 26 in the Courier Building, 100 E. Fourth St. The magazine presented the awards for the second time.

Financial Award winners from left to right, were Michaela Vandersee, Renee Rasmussen, Rod Duroe, Lisa Gates and Mark Weak, pictured here in the lobby of The Courier Building.

MATTHEW PUTNEY Cedar Valley Business Monthly

18 mAy 2013 CedAr VAlley Business monthly


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Tax credit benefits donors to charitiesThe Endow Iowa Tax Credit

Program offers generous tax incentives to make it easier for

Iowa taxpayers to give more for less. Those who give to a permanently en-dowed fund at a qualified commu-nity foundation or affiliate organiza-tion are eligible to receive 25 percent tax credits for their gifts in conjunction with federal tax de-ductions.

The Endow Iowa Tax Credit:

S t r e n g t h -ens communities through philan-thropy. Endow Iowa endorses the importance of phi-lanthropy and en-courages all Iowans to invest in their

communities through endowment funds. These funds are permanent resources that build the capacity for communities to become self-suffi-cient by providing financial support to charitable projects and commu-nity betterment programs now- and in the future.

Develops local community lead-ership. Endow Iowa encourages leaders to mobilize community orga-nizations and encourage charitable contributions. Community endow-ments help citizens promote, plan and prepare for the future and mani-fest their own community visions.

Creates philanthropic vehicles in communities of all sizes. Wealth has often been seen leaving Iowa’s communities and counties because there were no vehicles in place to receive gifts. Endow Iowa creates and provides the tools and vehicles in communities of all sizes to create endowment funds while strength-ening existing community founda-tions. To date, nearly $29 million in Endow Iowa Tax Credits have been awarded leveraging more than $115 million in permanent endowment gifts.

Encourages contributions that provide support now and in the fu-ture. Endow Iowa establishes com-

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munity endowments that create eternal financial sources to fund community betterment. To date, more than 130 community founda-tions/affiliates have been formed to provide long-term endowment ve-hicles for good.

Keeps dollars in Iowa and in-vested in Iowa’s future. Annually, Iowans transfer more than $4.9 bil-lion through probate estates, with each estate averaging $274,425. Collectively, if Iowans would gift even 5 percent of their estates annu-ally into endowment funds at com-munity foundations, we would see more than $245 million each year reinvested into community based endowment funds.

Prepares Iowa for the golden age of philanthropy. The nation is about to embark on a great wealth transfer; more dollars are going to transfer hands in the next 50 years — an estimated $41 trillion — than ever before. As one of the leading states with citizens 75 years and old-er, Iowa cannot afford to miss this wave.

Provides a new opportunity for collaboration. Endow Iowa relies on existing infrastructure and commu-nity foundations (confirmed in com-pliance with national standards) to incubate funds and mentor commu-nities on growing and managing en-dowments. These endowment funds may be unrestricted for broad com-munity needs, could be scholarships for local high school graduates, may be designated for a specific area of interest in the community such as environment or economic develop-ment, could be an endowment for a specific nonprofit organization or could be a donor advised fund al-lowing families to teach the value of giving to young Iowans.

Endow Iowa was created to en-hance the quality of life for the citi-zens of Iowa. Learn more about how you or your business can benefit by contacting your community founda-tion or visiting www.iowacommuni-tyfoundations.org.

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nonprofits

Ali Parrishis director of development

at the Community Foundation of Northeast Iowa. Contact

her at (319) 287-9106 or [email protected].

“Annually, Iowans transfer more than $4.9 billion

through probate estates.”


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cedAr vAlley Growth Fund

Fund aids local projectsEntrepreneurs, startups

and established busi-nesses all face challeng-

es. Today’s small businesses are especially vulnerable to failure

for many rea-sons — economic downturns, natu-ral disasters, for-eign competition and/or govern-ment regulation. The Cedar Valley Growth Fund I, the area’s new-est economic de-velopment initia-tive sponsored by Black Hawk Economic Devel-opment Inc., was designed to help businesses navi-gate those chal-

lenges. The fund rose from the ashes of

a legendary Waterloo employer. The Rath Packing Co. opened for business in November 1891 in

Waterloo, and by its 50th anni-versary was the largest packer in the nation. But by the 1970s, the four-story Rath facility had be-come obsolete, and competition was much greater. The company was no longer profitable.

In 1978, a group of Rath em-ployees and community lead-ers were determined to save the company. The group created Black Hawk Economic Develop-ment Inc., one of the area’s first economic development organi-zations. The group received a $3 million federal grant of working capital for the company. Despite the assistance, Rath operated at a loss from 1981-83 and ceased operations in 1985.

success storyBut the group supporters cre-

ated to try to save Rath became a successful economic develop-ment organization. Black Hawk Economic Development Inc. now has a 34-year track record of pro-viding over $125 million in small

business financing for startups, expansions and retention proj-ects. Its programs have resulted in more than $400 million of capi-tal investment in the Cedar Val-ley, and other communities.

The Rath Packing Co. was the first company assisted by BHED, but was far from the last. With the remaining $1.7 million from the Rath grant, BHED estab-lished a revolving loan program. It is now a $3.7 million fund and continues to help new and ex-isting businesses. BHED staff worked to develop and sponsor the Cedar Valley Growth Fund I, a 501(c)(3) not-for-profit corpo-ration. In addition to its venture capital features, this resource can be utilized to provide financial and technical assistance to small businesses.

For more information, con-tact Black Hawk Economic De-velopment Inc. at 235-2960 or [email protected] or the Cedar Val-ley Growth Fund I at 883-3010 or www.cvgf.net.

Linda Laylin is executive

director of the Cedar Valley Growth Fund I in Waterloo. Contact her at

883-3010.

Women make better Ceos, research findsLos Angeles Times Women make better corporate leaders than men because they are more likely to make fair decisions when competing interests are at stake, a new study says. The study, published in April in the International Journal of Business Governance and Ethics, was based on a survey of 600 board directors.

Women in leadership positions are more likely than men to consider competing interests and take a cooperative approach when making decisions, according to the study, conducted by researchers at A.T. Still University in Arizona and McMaster University in Canada.

Women leaders are more inquisitive than men and tend to see more than one solution to a problem. This leads to decisions that are more likely to be in the best interests of a company, researchers said.

Globally, women make up about 9 percent of corporate board members, the study said. The study cited research that has found that companies with at least one female director were 20 percent less likely to file bankruptcy. And those with higher representations of females on their boards had better financial performance.


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Cedar Valley Business monthly may 2013 21

Volunteering builds resume Do employers give weight

to a new graduates’ vol-unteer work during their

college years? Vo l u n t e e r i n g will always give a person skills that will be ben-eficial to their life in the work-ing world. Vol-unteering gives college students experience they might not gain through paid e m p l o y m e n t . That experience could encourage an employer that the volunteer is the right person for the job.

Work experienceWork experience is a form of

volunteering. However, many colleges provide students with

work experiences they do not want at places that don’t inter-est them. Many workplaces ac-cept students because they feel obligated and have little concern about whether they can actually use these students. When this occurs, the work experience is of no benefit to the student or the employer. But work experi-ence where the student is actu-ally given useful work to do and learns skills that can be used in the workplace is valuable, and employers will view it positively in interviews.

internshipsInternships are similar to a

work experience. The value of an internship has been diminished by some companies that take ad-vantage of students who are ea-ger to work and take on for free jobs for which they should be paid. However, internships can be valuable and held in high re-gard by employers. Internships

show motivation to learn the business. They can also be a set-ting for innovative thinking.

outside the workplaceNot all volunteer or service

work needs to be work-based. Volunteering away from the workplace shows many posi-tive characteristics to employers, like a desire to help others. Vol-unteering can be spoken about in interviews. Volunteering not only teaches students new skills, it shows would-be employers a graduate is a well-rounded per-son with numerous interests out-side of work.

The rise in corporate social re-sponsibility has made it easy for employees of big firms to show they are willing to help others. A new grad can demonstrate cre-dentials through volunteerism. It illustrates initiative and motiva-tion paid work does not. Volun-teer efforts on your resume set you apart.

Anne Nass is

communications coordinator with

the Volunteer Center of Cedar Valley. Contact

her at 272-2087 or anne_nass@

vccv.org.

nonprofits microsoft ads attack GoogleThe Associated PressMicrosoft is skewering Google again with scathing ads that say as much about the dramatic shift in the technology industry’s competitive landscape as they do about the animosity between the two rivals.

The missives launched last month mark the third phase in a 5-month-old marketing campaign that Microsoft Corp. derisively calls “Scroogled.” The ads, which have appeared online, on television and in print, depict Google as a duplicitous company more interested in increasing profits and power than protecting people’s privacy and providing unbiased search results.

This time, Microsoft is vilifying Google Inc. for sharing some of the personal information that it gathers about people who buy applications designed to run on smartphones and tablet computers powered by Google’s Android software. Earlier ads have skewered Google’s long-running practice of electronically scanning the contents of people’s Gmail accounts to help sell ads and attacked a recently introduced policy that requires retailers to pay to appear in the shopping section of Google’s dominant search engine.

Google says it shares a limited amount of information to ensure customers get better service and faster responses.


» Four out of five UNI graduates stay inIowa after graduation

» Three out of four enter the workforceand 14 percent continue their education

» More than 150 organizations attendUNI’s fall career fair

UNI graduates are well-prepared withthe skills and expertise to help makeyour business vibrant and successful.

Learnmore atuni.edu/careerservices

When you’re ready tohire, UNI Career Servicesis here to help!

personal finance

Financial security within reach of recent graduates

Taking control of your fi-nances is one of the most important things you can do

after college. Starting right away can help you to get ahead and stay ahead. Here are some basic ways to manage your finances respon-sibly.

Find the right solutionYou have so much to think about

when you start a new job, what you are going to wear on your first day, where you will sit, and how you will fit in. The last thing you should have on your mind is wor-rying about service charges or a mini-mum balance re-quirement at your financial institu-tion. Shop around for a bank or sav-ings and loan that offers free check-ing.

Set a budgetSetting a budget

helps you create a plan for your fi-

nances and can help you save for unexpected events. The first step is to figure how much money you will make each month and then deter-mine what your bills and expens-es will be. Don’t forget to budget for a little bit of “fun money” each month. That’s important.

Manage credit scoreWe’ve all heard the dangers of a

bad credit score; it can make it hard to get a job, a loan or even an apart-ment. One key to protecting your credit score is paying bills and stu-dent loans on time. It is also impor-tant to manage your debt, paying down the debt that has the highest interest rate first. Credit cards typi-cally carry 14 percent interest rates, while student loans carry interest rates around 7 percent.

SaveWe all know the importance of

saving, but it can be hard, especial-ly when you are out on your own for the first time. One trick you can try is setting up an automated transfer from your paycheck to your savings account. When you don’t see the money go into your checking account, you don’t realize it existed, and you learn to get by without it.

Another way to save is taking ad-vantage of your employer’s retire-ment plan, or 401(k), especially if they offer a match.

Even though retirement is the last thing on your mind when you are starting a new job, saving just a little bit now can make a big finan-cial difference in the long run.

Besides saving for retirement, it is also important to build an emergency fund that can get you through three to six months of liv-ing expenses.

Put this in a separate savings ac-count and only touch it if you have a financial emergency.

Rachael Andresen is a customer

service associate with First

National Bank in Waverly.

Contact her at 352-1340.

Rachael.Andresen@myfnbbank.

com

Help with socially responsible investingSeveral websites offer insights about socially responsible investing. Here is a sampling:

cfa institutewww.cfainstitute.org/about/press/release/

Pages/06172008 — 16417.aspx Features 10 tips, including setting goals, and investigating SRI vehicles.

the forum for sustainable anD responsible investment

ussif.org/resources/sriguideOffers informative guide to socially responsible investing.

Green americawww.greenamerica.org/socialinvesting/

whattoknow.cfm

Provides overview of social investing, in question and answer format.

investopeDiawww.investopedia.com/ask/answers/07/

socially-responsible-investing.asp Offers brief description of socially responsible investing, with links to further SRI topic reads.

tiaa-crefwww.tiaa-cref.org/public/advice-planning/

education/socially-responsible-investing/strategies

Spotlights different SRI strategies and how they work.

— McClatchy-Tribune Services

22 may 2013 Cedar Valley BuSineSS MontHly


We tend to love our ve-hicles when they run, but when we drop

them off to the repair shop we can’t help but worry about the ex-

tent, cost and qual-ity of the work. You’ll worry a lot less if you choose the right repair shop and make sure to get written estimates.

Taking the time to find the right repair shop is time well spent and may save you money.

A coupon, ad-vertisement, or website touting its low-price mainte-nance work and repairs may seem like a great deal, but not if it’s a less-than-trust-

worthy shop.Advertised maintenance spe-

cials may save you money, but watch out for repair shops that recommend surprise and possi-bly unnecessary repairs. If some-one from the shop tells you that you’ll need expensive or compli-cated repairs, consider seeking a second opinion.

Word-of-mouth advertising is often the most reliable way to find the right place.

You can also check with the Consumer Protection Division or the Better Business Bureau to see if anyone has filed complaints and how the business or mechanic re-sponded.

If you’re wondering about a shop’s or mechanic’s level of ex-pertise, find out whether they are “ASE certified.”

The nonprofit National Institute for Automotive Service Excel-lence works to improve the quali-ty of vehicle repair and service by testing and certifying automotive professionals.

Certification alone, however, does not guarantee good or hon-est work, and there are also good

mechanics who are not certified.Under Iowa’s Motor Vehicle

Service Trade Practices Act, you have certain rights to help you avoid higher than expected repair charges:

You have the right to receive a written or oral estimate for any repair that is expected to cost more than $50, and shops must notify you of this right. Make sure to request a written estimate.

The shop generally may not charge you a price that’s more than the estimate, unless it con-tacts you with a higher estimate and you approve the additional cost.

The repair shop may not charge you for any repairs that are unnecessary or that you did not authorize.

The repair shop must disclose in advance if it charges for dis-assembly, reassembly, partially completed work, or any other work not directly related to repair or service.

If the repair shop works with an outside repair or service sup-plier, the shop must provide, if you request one, an itemized re-ceipt from the supplier.

The repair shop may not use aftermarket crash parts without first disclosing it in the written estimate.

Disputes may come up even if you follow these tips. Try to re-solve your problem directly with the repair shop.

You will have a much better chance of success if you docu-ment your complaint, so be sure to keep copies of all estimates and invoices.

To file a complaint or for more information, contact the Iowa At-torney General’s Consumer Pro-tection Division.

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800-894-9599www.MIDAMERICANENERGY.com

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programs place the power to control your business’senergy costs in your hands.

Through incentives and rebates, EnergyAdvantageprograms promote the early adoption of high-efficiencyspace and water heating equipment, central airconditioning, lighting and other measures incommercial and industrial buildings.

The installation of energy-efficient equipment savesmoney on energy bills and can make your businessmore comfortable for customers and employees.

Contact MidAmerican Energy now to put the powerof EnergyAdvantage programs to work for your business.

THE

POWERTO LOWERBUSINESS COSTS

You have rights on auto repairs

Tom Miller is Iowa

Attorney General.

Contact his office toll-

free at (888) 777-4590. The

website is: www.Iowa Attorney

General.gov.

consumer protection


“If someone from the shop tells you that

you’ll need expensive or complicated repairs,

consider seeking a second opinion.”


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management

24 may 2013 Cedar Valley Business monthly

Hiring mistakes managers makeMost managers have at least some hir-

ing responsibilities, and if you’ve made even one hiring decision, you

probably know that selecting the right person out of a pool of candidates is anything but simple.

Some managers hire quite regularly and may have learned some lessons along the way, im-proving their odds of hiring the right person.

However, if you’re one of the many making hiring decisions only sporadically, make sure you’re not falling into any of the seven hiring traps that follow.

You hire someone because you can relate to them.

It’s easy to fall into the trap of hiring the most “likeable” can-didate.

If you’re drawn toward some-one in this way, consider why you find that individual likeable. Is it because the person is like you? Hiring someone because you can identify with him or her over other candidates is not

usually a wise move. If you suspect you might be leaning toward

someone who is like you, consider reviewing job candidates’ qualifications again and involv-ing other employees or managers in the hiring process for more objective feedback.

You overvalue cultural fit. Whether an applicant would fit into your

company culture is an important consideration, but it’s certainly not the only one.

Remember that while many employees can be taught specific skills, some won’t have the ap-titude you require. This will depend heavily on the nature of the position in question.

Additionally, when considering cultural fit, don’t count out the value of diversity; it may not be the best move to hire an individual who is very similar to your existing employees.

You let applicants come in without a good understanding of the job.

Applicants who don’t fully understand the job can’t ask the right questions and won’t be prepared to show you their relevant qualifica-tions.

If the interview must include clarification on what a job entails (because the informa-tion hasn’t been delivered earlier), you’re likely wasting your time with an applicant pool that isn’t as qualified as it could be.

You rely on the interview to choose a can-

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didate. Interviewees may be nervous and may not

present their best selves. They’re also dying to tell you precisely what you want to hear, wheth-er it’s the absolute truth or not.

While the interview is important, focus on evi-dence of past behavior. Hiring decisions should consider equal parts interview, listed qualifica-tions, reference checks, and any other factors relevant to your company.

You ask questions with no idea of the “right” answers.

If you don’t have an idea of what you hope to hear from candidates in response to particu-lar questions, you might be sitting down for a polite chat without getting any indication of the individual’s potential.

You choose the lesser of the evils.While the cost of keeping a position open for

another week or two may be high, it’s probably not as high as hiring the wrong person, train-ing him or her, and then finding out weeks (or months) later that your instincts were right and the individual was never the right fit.

If you aren’t happy with any of the candidates you’ve interviewed, consider postponing your decision until you’ve had time to conduct a wid-er search.

You aren’t objective. There’s something to be said for a gut feel-

ing, but if you don’t have some kind of objec-tive criteria (a numerical score or some kind of ranking system), you’re likely to give unneces-sary weight to factors unrelated to the job (such as how much you personally like or dislike the candidate).

Job-related tests can also help you stay objec-tive.

Everyone makes mistakes, but choosing the wrong applicant to fill a position is one of the more costly errors you can make as a manager.

Experts routinely cite a cost of two to three times the salary of a position to replace an indi-vidual when a bad hire is made.

Beyond the financial cost, hiring the wrong person can do serious damage to the morale and productivity of other workers, so you’ll want to do whatever you can to get it right the first time.

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Katie Loehrke is a human resources

subject matter expert and editor with

J. J. Keller & Associates,

Inc., a nationally

recognized compliance

resource firm.

Everyone makes mistakes, but choosing the wrong applicant

to fill a position is one of the more costly errors you can make

as a manager.


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mAnAgement

Getting the most out of meetingsWhat to do about meet-

ings? Employees pro-test about too many

meetings. Yet the almost univer-sal complaint of “lousy communica-tion around here” trumps it. What’s a manager to do?

The problem isn’t too many meetings, but too many lousy meetings.

So what’s the se-cret to productive meetings? The first step is to clearly de-fine the meeting’s purpose.

Let’s start with a status meeting. This should be a regu-lar crisp, stand-up meeting located in front of the team’s visual scoreboard.

A standing agenda item is essential with typical topics consisting of:

Yesterday’s numbers (or signifi-cant accomplishments).

Summary of new orders re-ceived and backlog (or measure of incoming work).

New or unexpected barriers that may impact the day and the current plan for dealing with them.

Appropriate recognition for in-dividuals including notable accom-plishments, employment anniver-saries, or birthdays.

Short questions are allowed to ensure information is fully under-stood. In-depth discussion regard-ing issues, however, should be taken offline and involve only im-pacted participants.

That’s it. My first experience with a daily stand-up meeting was ob-serving Hach’s dozen or so man-agers relate in 10-15 minutes the status of their 300-employee orga-nization. The meeting reminded me of a well-run track meet with each participant prepared and sharing just the necessary facts. The meet-ing started on time. I left thinking “these folks know their business!”

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Decision-making or brainstorm-ing meetings add layers of com-plexity. The goal is to actually pro-duce an idea or decision.

The meeting facilitator’s skills are vital, as is preparation. What do you want to accomplish with this meeting? Be specific.

Who should participate? Diverse thinkers will likely enhance the quality of ideas generated.

When inviting participants, less is more. In general, boss and sub-ordinate should not be involved in the same meeting. The need to in-volve both may be an indication of an over-controlling supervisor or an incompetent employee.

Where and when should the meeting be held? Does this meet-ing need to be held off-site to avoid interruptions? When will partici-pants most likely be focused and productive?

Envision the successful meeting. Document and share the agenda and the required preparation of participants. Identify potential risks to success and take actions to mini-

mize them before the meeting.Running a successful meeting is

akin to protecting growing crops. Tangent discussions are the weeds of meetings. Aggressive comments by members that turn off others are insects. Both can destroy yield if not promptly identified and ad-dressed.

Preparation can head off these issues by spending a little time upfront clarifying ground rules. A hand-held “DETOUR” placard placed on the table can be a use-ful tool for any member to identify when the conversation is straying.

Bring the meeting to a fruitful conclusion. Be deliberate.

What did we decide? Write it down.

Who is doing what and when?Is everyone committed to the

decision? Ask participants one at a time.

Finally, distribute documentation of your agreement. You and your team have spent too much time to lose your efforts to poor memo-ries.

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Rick Brimeyer is president of Brimeyer

LLC, an independent management

consulting firm in Ames. Contact him at (515) 450-8855 or rick@brimeyerllc.

com.


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The Associated Press

The ailing personal computer market is getting weaker, and it’s starting to look like it will never fully recover as a new generation of mobile devices reshapes the way people use technology.

The latest evidence of the PC’s infirmity emerged last month with the release of two somber reports showing unprecedented declines in the sales of desktop and laptop machines during the first three months of the year.

As if that news wasn’t’ troubling enough, it appears that a pivotal makeover of Microsoft’s ubiqui-tous Windows operating system seems to have done more harm than good since the software was released last October.

“This is horrific news for PCs,” said BGC Financial analyst Colin Gillis. “It’s all about mobile com-puting now. We have definitely reached the tipping point.”

First-quarter shipments of PCs fell 14 percent from the same time last year, according to Internation-al Data Corp. That’s the deepest quarterly drop since the firm start-ed tracking the industry in 1994.

Another research firm, Gartner Inc., pegged the first-quarter de-cline at 11 percent.

The deviation stemmed from the firms’ slightly different definitions of PCs.

No matter how are things parsed, this is clearly the worst shape that the PC market has been in since IBM Corp. released a desktop ma-

chine in 1981.In an attempt to keep the PC rel-

evant, Microsoft released a radical new version of Windows last fall. Windows 8 has a completely new look that’s similar to the design of the software running the most popular smartphones and tablet computers. The overhaul requires a relearning process, a leap that

many consumers and corporate buyers aren’t ready to take.

All signs so far point to Windows 8 being a flop.

In its tally, IDC excludes tablets, even if they run PC-style software. It also excludes any device that has a detachable keyboard. With the release of Windows 8, PC makers have been reviving experiments with tablet-laptop hybrids, some of which have detachable keyboards. Consumers are likely to have shift-ed some of their buying away from traditional laptops and toward these new devices, which means the total sales decline of Windows-based devices may not be as dras-tic as IDC’s numbers suggest.

Hewlett-Packard Co., the world’s largest maker of PCs, saw a 24 per-cent drop in shipments in the first quarter compared with the same period a year ago.

The industry’s No. 2, China’s Lenovo Group, is benefiting from sales to first-time buyers in China and other developing countries.

As a result, it held sales steady, alone among the world’s top 5 PC makers, according to IDC’s fig-ures.

PC sales plunge as Windows 8 flops

AP PHOTO

A woman walks past laptop computers running Microsoft Windows 8 operating system during its launching ceremony in Hong Kong in October.

DustinW.WhiteheadCCIM

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Documents

Business Monthly - May 2013