Generation Z (Gen Z) accounts for a growing percentage of the global workforce. In the second quarter of 2024, this group comprised 18% of the U.S. labor force, and this rate will only continue to grow. These individuals, born between 1997 and 2012, range from 13 to 28 years old, making up nearly all of the current as well as the next wave of young professionals. The U.S. Bureau of Labor Statistics predicts that by 2030, Gen Z will constitute 30% of the workforce.
However, many individuals in this demographic feel disengaged or disempowered in the workplace. Research by analytics and advisory firm Gallup found that disengagement affected Gen Z more than other generations in 2024, as they were five percentage points less engaged than in 2023. Employers who take measures to engage with Gen Z workers and adapt to their needs may experience increased productivity and heightened retention and attraction of these workers.
This article explains how engaging Gen Z is important for organizations, outlines challenges employers face in these efforts and provides tips on engaging this demographic in the workplace.
Gen Zers are often socially conscious, digitally savvy and invested in career development. They are passionate about social causes and may choose to work for organizations with similar values over higher-paying positions. According to a survey conducted by Deloitte, 75% of Gen Z and millennial workers factor in an employer’s community engagement and societal impact when searching for employment.
This generation of workers tends to value honesty and transparency from employers, prioritize mental health and job flexibility, and seek opportunities for career growth. They are also more willing than previous generations to leave their jobs if they don’t offer what they desire. As such, they will likely remain loyal to employers offering development opportunities and internal support.
With Gen Z comprising almost a third of the global workforce by 2030, it’s clear that engaging this demographic is crucial for employee attraction and retention. It’s also essential for organizational productivity. Gen Z workers can bring fresh ideas and creativity to an organization; as digital natives, Gen Z can bring new talent and in-demand skills into the workplace, driving innovation and efficiency. Therefore, harnessing this potential can keep organizations ahead in a competitive market. Engaging this generation can help maintain a productive workforce and drive long-term organizational success.
Gen Z individuals are a growing percentage of the global talent pool. However, like every new demographic entering the workforce, these employees have unique needs and priorities. Employers who actively engage Gen Z may experience a competitive advantage when hiring and retaining these workers. These initiatives may also contribute to increased satisfaction and productivity.
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Put simply, Flawless Execution is about getting things done! The important and life-changing things. The things you dream about regularly, that seem impossible to deliver. The idea of flawless execution was born into the world of fighter pilots, where the consequences of losing are severe and the operational speed is incredibly fast.
So, let’s define Flawless Execution one word at a time!
Flawless: In a word, flawless means perfect. Arguably, there is no such thing. However, flawless execution is not about perfection! Instead, it is about the endless pursuit of the achievement of our goals! It is an obsession with failure, as both something to be avoided AND something to treasure for the learning that it provides. In a world full of complex systems, there can never be any guarantee of success. Yet, our failures can teach us how to succeed!
Execution: Execution means getting things done! But, what things? The right things, of course! The right things are those things we plan to do. We are not talking about processes here. We don’t plan to do processes. Instead, we plan to develop processes. From its inception, every organization begins as a plan. It grows and succeeds as the result of planning. At best, processes are only the product of planning. And, planning is the first step in Flawless Execution.
There a three commonly misused words that we will define in order to fully understand what Flawless Execution is trying to achieve. Those terms are simple, complicated and complex.
Simple: Simple can be defined as something with few or only a single part or process. For our purposes, simple is something easily comprehensible. Simple tasks are those things that can be easily taught and mastered by anyone, with little investment in time or pre-requisite training.
Complicated: Complicated can be defined as something with many parts or processes that requires significant technical knowledge to operate or manage. Complicated tasks and processes require specialized knowledge derived from considerable training and education.
Complex: Complex is vastly different from simple and complicated. Anything that is simple or complicated can, with sufficient technical skill, be mastered and produce predictable results. However, something that is complex means that its complexity arises from the collective interaction of simple, complicated or even other complex parts. The distinguishing mark of complexity is its unpredictability. Complexity is everywhere! It exists in all living things and their interaction with other living things.
Now that we understand the differences between simple, complicated and complex, there are two other related terms we must clearly understand. Those are process and system.
Flawless Execution in Business
Process: We define a process as a set of specific steps that converts a specific input into a specific output. Therefore, processes may be simple or complicated. But, they cannot be complex because the output of a complex process is not predictable or specific. It is for that purpose that we use methods like Six Sigma.
System: A system can be described as a complex process. A human being is a system. A company is a system. As is government or an economy. The global economy is a system of systems, a supra-system if you like, that is continually changing in unpredictable ways. Systems are interdependent of other larger and smaller systems. Everything is part of a system. Everything is affected by other systems.
So, if everything is part of a complex system that is unpredictable, then how is it that we can speak of predictable processes existing within unpredictable systems? Well, that is why we must define our next term, organization.
Organization: Organization is a broad term that originates from living systems. Its root comes from living systems and implies coordination and cooperation among other living things. In Flawless Execution, we use the term organization in two slightly different senses. First, we use it as a blanket designation for any business or company, government entity, association, and so forth. In that sense, an organization is an association of individuals for some coordinated purpose. Second, we use organization more specifically to describe the degree to which those individuals coordinate well. In that sense, then, organization applies to the quality and value of the processes utilized within an organization. Processes are developed within organizations to bind the problems and challenges it faces into more manageable and controllable tasks. Therefore, processes can be viewed as a rigorous attempt to shield an organization’s necessary functions from the dangers of complexity. Even then, an organization’s processes must still change over time in order to evolve under the assault of constant change.
There is just one final term to define, one that is commonly used in organizations today. It’s a powerful concept, one that has dominated the business world for decades. It is Continuous Improvement.
Continuous Improvement: Continuous improvement is a commonly used phrase to describe programs such as Total Quality Management, Six Sigma, Lean, etc. However, Continuous Improvement can only logically refer to the improvement of processes. It cannot refer to the improvement of organizations in a holistic way because organizations are complex systems. Systems either survive, thrive, and perform highly or they stagnate, decline, and possibly die. Therefore, organizations do not continuously improve. Instead, they improve their performance by adaptation and evolution within the larger system. Think of it this way, no process can be more than 100% effective, but an organization’s growth and success are unlimited!
Flawless Execution References –
ASQ. (n.d.). What is total quality management (TQM)? ASQ. https://asq.org/quality-resources/total-quality-management
White, S. (2018). What is six sigma? Streamlining quality management. CIO. https://www.cio.com/article/3237692/six-sigma-quality-management methodology.html#:~:text=Six%20Sigma%20is%20a%20quality,little%20to%20no%20variance%20throughout.
McLaughlin, E. (n.d.) Lean Management. Tech Target. https://searchcio.techtarget.com/definition/lean-management
ByMark C. Perna, Contributor. Mark C. Perna is a generational expert who covers education & careers.
Source: https://www.forbes.com/sites/markcperna/2024/06/25/why-tradespeople-are-satisfied-in-their-careers/
Job security in the age of AI, little to no education debt and fulfilling work all add up to record-high job satisfaction among skilled tradespeople. In the next twenty years, it’s estimated that some 47% of today’s jobs will become obsolete in the face of advancing artificial intelligence and automation. Of course, it doesn’t mean almost half the working population will be out of a job, but it does mean that those impacted will need to upskill in significant ways as the world shifts.
Not so the skilled trades, however. A recent Angi survey took the pulse of America’s skilled tradespeople in fields like construction, plumbing, electrical and HVAC—and the pulse is strong. Notably:
Yet for all this, the skilled trades are not immune to the skills gap. Today, we have one million fewer skilled tradespeople in America than we did in 2007. Thirty-nine percent of business owners are unable to find qualified workers to fill open positions, and 66% believe they could expand their company if they could only find more talent.
“If the skills gap in the trades continues to widen, it could result in a shortage of qualified workers to fill essential roles, leading to delays in construction projects, maintenance backlogs, and decreased productivity,” says Angie Hicks, Angi's co-founder. “Moreover, industries reliant on skilled trades may struggle to innovate and remain competitive, potentially hindering economic growth and development.”
“While an increasing number of young people are entering the trades, especially construction trades, it’s a drop in the bucket compared to construction’s chronic skilled labor shortage,” says Procore founder and CEO Tooey Courtemanche. “It’s imperative we encourage more people to consider this career path, across generations.”
Why people don’t choose the trades—and 3 reasons they should
Courtemanche believes that the skilled trades has a branding problem…a big one. “It’s so deeply ingrained in American culture that it’s perpetuated by our entire educational system,” he says. “As a result, societal pressure continues to push young people toward four-year degrees instead of careers in construction and related trade professions.”
Hicks also points to the obstacles keeping women—half the population—out of the skilled trades. “Historically, less women have entered the trades due to factors like stereotypes, stigmas and even a lack of visible female role models in the field,” she says. “Although, this is changing; in our 2024 Skilled Trades Report, 41% of pros said that they have seen more women enter the workforce as skilled tradespeople in the last 5 years.”
In today’s world, both Courtemanche and Hicks see three reasons why a career in the skilled trades can be a fulfilling one.
1. Job security.
As Angi’s survey indicates, most tradespeople don’t feel threatened by the rise of generative AI; in fact, they see it as a potential asset. “AI is transforming the work of tradespeople by automating routine tasks and increasing efficiency across various aspects of projects,” says Hicks. “This allows them to concentrate on more important responsibilities like problem solving, complex repairs and client communication.”
At the same time, Courtemanche points out that the trades are by no means averse to new technology. “Gen Z has expectations of working in tech-enabled environments, and construction is becoming more tech-enabled by the day,” he says. “Leading construction companies are embracing cutting-edge technology like AI, drones, AR/VR and more in their operations.”
2. Little to no education debt—and great earning potential.
Unlike a traditional degree program, training for a trade involves little to no debt. Often, you can even earn while you learn. “With the rising costs of college and concerns about student debt, a lot of young people are thinking more about practical options like trade schools and apprenticeships,” says Hicks.
Courtemanche agrees. “Most young people simply don’t understand that there’s another career path where they can earn a six-figure starting salary, all without having to take on college debt,” he says. “I’ve witnessed this firsthand in construction, an industry that offers skilled tradespeople a fast track to a high-earning, high potential career.”
He notes that the UN predicts that over the next 40 years, the world will build 230 billion square meters in new construction—equivalent to constructing a city the size of Paris every single week. “This staggering demand for construction indicates that job opportunities for skilled labor will persist in the years to come,” says Courtemanche. “As demand escalates and the shortage of skilled labor intensifies, the earnings potential within the construction sector will continue to rise.”
In today’s world, it's a return on investment that is increasingly appealing.
3. Tangible, satisfying work.
“Building something tangible in an increasingly virtual world can be highly rewarding,” says Courtemanche. “Construction touches all of our lives, every single day, from the homes where we raise our kids, to the hospitals where we receive care, to the airports we use to travel, to the infrastructure that powers and brings them all to life.”
In that light, the skilled trades offer a great opportunity for Gen Z to actuate their desire to make the world a better place. “Working in the construction trades affords the opportunity to contribute to something tangible, meaningful and lasting to our local communities and beyond,” adds Courtemanche.
An optimistic outlook
Surrounded by inflation, increased interest rates, home prices, tuition rates and more challenges, many Gen Zers are becoming disillusioned by the idea that a four-year degree is the key to success.
“Data shows that many individuals are questioning the traditional stigma surrounding the trades, opting instead for opportunities that offer greater earning potential without the financial burden of college debt,” says Courtemanche.
Hicks also believes there are encouraging signs that Gen Z is becoming more interested in trades careers. “They’ve been known to really value work-life balance and job satisfaction, which trades often offer with flexible hours and the rewarding nature of skilled work,” she says. “Plus, the cool tech that's being used in trades, like AI and automation, makes these jobs a lot more appealing to tech-savvy young people.
“Gen Z trade workers are even trending and gaining popularity on social media.”
The skilled trades represent a great job outlook—and it’s only getting better. “The skilled labor shortage continues to be the number one barrier our customers face in meeting the demand for construction,” says Courtemanche.
If they can tune out the outdated stigmas and college pressure, Gen Z could make a powerful, positive impact on the skilled trades—and their own career trajectory.
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Businesses can’t operate without risk. Economic, technological, environmental, and competitive factors introduce obstacles that companies must not only manage but overcome.
According to PwC’s Global Risk Survey, organizations that embrace strategic risk management are five times more likely to deliver stakeholder confidence and better business outcomes and two times more likely to expect faster revenue growth.
If you want to enhance your job performance and identify and mitigate risk more effectively, here’s a breakdown of what risk management is and why it’s important.
What Is Risk Management?
Risk management is the systematic process of identifying, assessing, and mitigating threats or uncertainties that can affect your organization. It involves analyzing risks’ likelihood and impact, developing strategies to minimize harm, and monitoring measures’ effectiveness.
“Competing successfully in any industry involves some level of risk,” says Harvard Business School Professor Robert Simons, who teaches the online course Strategy Execution. “But high-performing businesses with high-pressure cultures are especially vulnerable. As a manager, you need to know how and why these risks arise and how to avoid them.”
According to Strategy Execution, strategic risk has three main causes:
These pressures can lead to several types of risk that you must manage or mitigate to avoid reputational, financial, or strategic failures. However, risks aren’t always obvious.
“I think one of the challenges firms face is the ability to properly identify their risks,” says HBS Professor Eugene Soltes in Strategy Execution.
Therefore, it’s crucial to pinpoint unexpected events or conditions that could significantly impede your organization’s business strategy.
According to Strategy Execution, strategic risk comprises:
Understanding these risks is essential to ensuring your organization’s long-term success. Here’s a deeper dive into why risk management is important.
4 Reasons Why Risk Management Is Important
1. Protects Organization’s Reputation
In many cases, effective risk management proactively protects your organization from incidents that can affect its reputation.
“Franchise risk is a concern for all businesses,“ Simons says in Strategy Execution. “However, it's especially pressing for businesses whose reputations depend on the trust of key constituents.”
For example, airlines are particularly susceptible to franchise risk because of unforeseen events, such as flight delays and cancellations caused by weather or mechanical failure. While such incidents are considered operational risks, they can be incredibly damaging.
In 2016, Delta Airlines experienced a national computer outage, resulting in over 2,000 flight cancellations. Delta not only lost an estimated $150 million but took a hit to its reputation as a reliable airline that prided itself on “canceling cancellations.”
While Delta bounced back, the incident illustrates how mitigating operational errors can make or break your organization.
2. Minimizes Losses
Most businesses create risk management teams to avoid major financial losses. Yet, various risks can still impact their bottom lines.
A Vault Platform study found that dealing with workplace misconduct cost U.S. businesses over $20 billion in 2021. In addition, Soltes says in Strategy Execution that corporate fines for misconduct have risen 40-fold in the U.S. over the last 20 years.
One way to mitigate financial losses related to employee misconduct is by implementing internal controls. According to Strategy Execution, internal controls are the policies and procedures designed to ensure reliable accounting information and safeguard company assets.
“Managers use internal controls to limit the opportunities employees have to expose the business to risk,” Simons says in the course.
One company that could have benefited from implementing internal controls is Volkswagen (VW). In 2015, VW whistle-blowers revealed that the company’s engineers deliberately manipulated diesel vehicles’ emissions data to make them appear more environmentally friendly.
This led to severe consequences, including regulatory penalties, expensive vehicle recalls, and legal settlements—all of which resulted in significant financial losses. By 2018, U.S. authorities had extracted $25 billion in fines, penalties, civil damages, and restitution from the company.
Had VW maintained more rigorous internal controls to ensure transparency, compliance, and proper oversight of its engineering practices, perhaps it could have detected—or even averted—the situation.
Related: What Are Business Ethics & Why Are They Important?
3. Encourages Innovation and Growth
Risk management isn’t just about avoiding negative outcomes. It can also be the catalyst that drives your organization’s innovation and growth.
“Risks may not be pleasant to think about, but they’re inevitable if you want to push your business to innovate and remain competitive,” Simons says in Strategy Execution.
According to PwC, 83 percent of companies’ business strategies focus on growth, despite risks and mixed economic signals. In Strategy Execution, Simons notes that competitive risk is a challenge you must constantly monitor and address.
“Any firm operating in a competitive market must focus its attention on changes in the external environment that could impair its ability to create value for its customers,” Simons says.
This requires incorporating boundary systems—explicit statements that define and communicate risks to avoid—to ensure internal controls don’t extinguish innovation.
“Boundary systems are essential levers in businesses to give people freedom,” Simons says. “In such circumstances, you don’t want to stifle innovation or entrepreneurial behavior by telling people how to do their jobs. And if you want to remain competitive, you’ll need to innovate and adapt.”
Netflix is an example of how risk management can inspire innovation. In the early 2000s, the company was primarily known for its DVD-by-mail rental service. With growing competition from video rental stores, Netflix went against the grain and introduced its streaming service. This changed the market, resulting in a booming industry nearly a decade later.
Netflix’s innovation didn’t stop there. Once the steaming services market became highly competitive, the company shifted once again to gain a competitive edge. It ventured into producing original content, which ultimately helped differentiate its platform and attract additional subscribers.
By offering more freedom within internal controls, you can encourage innovation and constant growth.
4. Enhances Decision-Making
Risk management also provides a structured framework for decision-making. This can be beneficial if your business is inclined toward risks that are difficult to manage.
By pulling data from existing control systems to develop hypothetical scenarios, you can discuss and debate strategies’ efficacy before executing them.
“Interactive control systems are the formal information systems managers use to personally involve themselves in the decision activities of subordinates,” Simons says in Strategy Execution. “Decision activities that relate to and impact strategic uncertainties.”
JPMorgan Chase, one of the most prominent financial institutions in the world, is particularly susceptible to cyber risks because it compiles vast amounts of sensitive customer data. According to PwC, cybersecurity is the number one business risk on managers’ minds, with 78 percent worried about more frequent or broader cyber attacks.
Using data science techniques like machine learning algorithms enables JPMorgan Chase’s leadership not only to detect and prevent cyber attacks but address and mitigate risk.
Start Managing Your Organization's Risk
Risk management is essential to business. While some risk is inevitable, your ability to identify and mitigate it can benefit your organization.
But you can’t plan for everything. According to the Harvard Business Review, some risks are so remote that no one could have imagined them. Some result from a perfect storm of incidents, while others materialize rapidly and on enormous scales.
About the Author: Kate Gibson is a copywriter and contributing writer for Harvard Business School Online.
SOURCE: https://online.hbs.edu/blog/post/risk-management
Artificial Intelligence (AI) has been making waves across many sectors, from healthcare to finance, and now it is starting to influence the skilled trades industry. AI technologies are reshaping how the trades are carried out, offering both challenges and opportunities for workers in the field and staff in the office.
1. Automation and Efficiency in the Trades
In construction, AI tools help automate design processes, estimate material needs, and optimize building methods, making projects more cost-effective and efficient. Drones equipped with AI are also used for site inspections, mapping, and surveying, allowing for safer and quicker assessments of job sites.
2. AI-Driven Tools for Skill Enhancement
AI is not only automating certain tasks but also helping to elevate the skill sets of workers. Augmented Reality (AR) and AI-powered diagnostic tools are revolutionizing the training process in the trades. For instance, AR glasses equipped with AI can project digital information, instructions, or diagrams in real time, guiding workers through complex tasks like plumbing repairs, electrical installations, or machinery maintenance. This can significantly shorten training times and improve the quality of the work.
Additionally, AI software is increasingly used to predict and diagnose issues in machines and systems. In industries like plumbing or HVACR, AI-based diagnostic tools can analyze data from sensors and predict mechanical problems before they become critical. This allows skilled workers to perform proactive maintenance, minimizing downtime and improving efficiency.
3. Workforce Shortages and the Need for Reskilling
One of the major concerns in the skilled trades is the ongoing shortage of workers, particularly in certain regions and sectors. AI is seen as a potential solution to help bridge this gap. By automating routine tasks, AI can reduce the demand for low-skilled labor, allowing workers to focus on more complex, specialized aspects of their jobs.
However, this shift toward AI-powered tools and systems also means that workers in skilled trades will need to adapt to new technology. AI’s growing role in these industries calls for a focus on reskilling and upskilling. Tradespeople will need to acquire new knowledge in robotics, data analysis, and AI systems to stay relevant in the job market. As the industry evolves, employers will increasingly look for workers who are comfortable with both their traditional craft and the digital tools that now complement their work.
4. AI in Safety and Risk Management
AI is playing an increasingly important role in improving safety within skilled trades. In high-risk environments, such as construction, AI-powered sensors and wearables are being used to monitor workers' health and safety in real time. For example, AI can predict potential safety hazards by analyzing data from environmental sensors or worker movements and alert supervisors to take corrective actions before accidents occur.
AI is also being used to develop predictive maintenance systems that can monitor the condition of equipment, ensuring it is always in good working order. Predictive analytics can help reduce downtime, avoid costly repairs, and ensure that machinery is operating safely, which in turn protects workers.
5. Ethical Concerns and Job Displacement
While AI brings many advancements to the skilled trades, there are also concerns about job displacement. Automation may lead to the reduction of some manual tasks, which could put certain jobs at risk. For example, machine learning algorithms may be able to predict mechanical issues more accurately than a human technician, potentially reducing the need for human labor in certain diagnostic roles.
That said, the complete replacement of skilled trades by AI is unlikely in the near future. Human expertise, intuition, and problem-solving abilities remain essential in many of these professions. Moreover, AI is expected to work alongside workers, complementing their skills rather than completely replacing them.
However, these technological advancements mean that workers in skilled trades must continuously evolve with the changing landscape. Maintaining a balance between embracing AI innovations and preserving human expertise will be crucial in avoiding significant job losses.
6. The Future of AI in Skilled Trades
As AI continues to develop, it is likely to play an even larger role in skilled trades. The future of these industries will likely involve a combination of AI-powered tools and human workers. As tradespeople become more familiar with AI technology, they may work more collaboratively with these tools, leading to improved productivity, safety, and quality of work.
Additionally, AI could unlock new opportunities within the trades sector. For example, AI could assist in creating smarter, more sustainable building designs, improving energy efficiency, and reducing environmental impacts. The integration of AI in trades might also encourage innovation, as workers and businesses explore new ways to apply these technologies to improve their craft.
Conclusion
AI's impact on skilled trades is already noticeable, offering both benefits and challenges. From automating routine tasks to enhancing worker safety and improving training, AI is helping to reshape the future of these industries. However, for AI to have a positive impact, it is crucial for workers to be equipped with the skills and knowledge to integrate new technologies into their work. The future of skilled trades will likely be a blend of human expertise and AI-powered tools, leading to more efficient, safer, and innovative ways of working. The key to navigating this transformation will be finding a balance that respects traditional craftsmanship while embracing technological advancement.
Wednesday, February 12, 2025 | By Cate Charron, Indianapolis Business Journal
INDIANAPOLIS - The creation of a new state office dedicated to improving the small-business environment in Indiana was passed by members of the House Tuesday.
House Bill 1172 would establish the Office of Entrepreneurship and Innovation, which would manage several new and existing programs to support small business owners and aspiring entrepreneurs.
Bill author Rep. Jake Teshka, R-North Liberty, said the office would consolidate state government programming to make it more accessible for business owners. The office would be a standalone agency and housed under Secretary of Commerce David Adams, who also oversees the Indiana Economic Development Corp., or IEDC, the Department of Workforce Development and Indiana Destination Development Corp.
Several lawmakers and state leaders, including Gov. Mike Braun, have said the IEDC is too focused on bagging major company investments and development is overly concentrated in certain areas. Braun has repeatedly said he wants to spread economic development to all four corners of the state.
Teshka alluded to these concerns Tuesday on the House floor. “This isn’t about adding an additional layer of government. It’s not about bashing the IEDC,” he said. “It’s about a focus and a renewed intentionality on our state’s best and brightest innovators and entrepreneurs.”
The bill has broad support from the business community, including the Indiana Chamber of Commerce, Indy Chamber of Commerce, the Indiana chapter of the National Federation of Independent Business and individual business owners. The bill mirrors one of the governor’s detailed priorities too, though Teshka previously told IBJ he drafted the bill before learning about his agenda. Teshka said he has since worked with the Secretary of Commerce’s staff to update the language.
The Governor’s Office included funding for the new office in its budget proposal. It would need about $1.8 million in state funding in its first year for staff salaries and operations, according to the bill’s fiscal note. That amount does not include program funding. The bill was passed 85-7 with bipartisan support Tuesday. It now moves to the Senate for consideration.
The seven opposing votes hinged on concerns of further expanding government. In a commerce committee, several Republicans pushed for the office to have a sunset clause, so lawmakers would be required to return to evaluate whether the office is impactful after a certain date. Approved amendments have not included such language.
One amendment that did pass rolled back some of the bill’s specificity. It cut requirements for specific programs currently hosted under the IEDC to be moved to the new office, and it scrapped requirements to produce a report about the state of entrepreneurship. “The administration is trying to work on getting their feet underneath them and wanted some flexibility,” Teshka said on the floor Tuesday.
Rep. Heath VanNatter, R-Kokomo, questioned whether it would be create redundancy, given existing efforts. The Indiana Small Business Development Center has 10 regional offices throughout the state and provides services similar to what proposed in the bill. Josh Richardson, Secretary Adams’ chief of staff, during a Jan. 29 hearing that this office represents a consolidation of services rather than an expansion. Instead, he said pulling out programs into this office would inspire more efficiency.
“The real key here,” Richardson said, “is just making sure that we’re providing streamlined services for Hoosier entrepreneurs and businesses to grow and to be successful in Indiana.” If the bill is passed by the General Assembly and signed by the governor, the earliest the office can begin operating is July 1.
You can also read it at BizVoice Magazine - Indiana Chamber Bimonthly on Business
In today's fast-paced and ever-changing business landscape, small and mid-sized companies often face unique challenges when it comes to managing human resources (HR). From recruiting top talent to ensuring compliance with labor laws, maintaining an efficient HR operation can be a resource-intensive task. This is where the concept of fractional HR comes in as a game-changer, offering a cost-effective solution to meet the HR needs of growing businesses.
Fractional HR refers to the practice of hiring an experienced HR professional or team on a part-time or contract basis, rather than having a full-time, in-house HR department. This model allows businesses, particularly those in their early or growth stages, to access the expertise and strategic leadership of seasoned HR professionals without the overhead of a full-time hire.
Fractional HR services can cover a range of HR functions, including:
By engaging fractional HR providers, businesses can scale their HR operations as needed, while only paying for the services they actually require.
One of the biggest advantages of fractional HR is cost savings. Small to medium-sized businesses (SMBs) typically don’t have the budget to hire full-time HR staff or build an HR department from scratch. By leveraging fractional HR, businesses can get access to expert HR services for a fraction of the cost, making it a budget-friendly option for growing companies.
HR professionals with years of experience can offer valuable insights that might be difficult to find in-house, especially for smaller companies. Fractional HR providers bring expertise in various areas of HR—from navigating complex legal compliance to optimizing recruitment strategies—allowing businesses to make more informed decisions.
As business needs evolve, so too can the HR services provided. Whether you’re expanding into new markets, hiring new employees, or changing your organizational structure, fractional HR allows businesses to scale their HR needs accordingly. You can engage fractional HR for specific projects or for ongoing support, depending on the situation.
Outsourcing HR to fractional professionals allows business owners and leaders to focus on the core aspects of their business—such as product development, marketing, and sales—while still ensuring HR functions are handled efficiently. This reduces the administrative burden on internal teams, allowing them to prioritize high-impact tasks.
HR compliance is a crucial area where many small businesses fall short, often unintentionally. HR regulations are constantly evolving, and staying up-to-date with the latest laws is time-consuming. Fractional HR providers are skilled at navigating compliance, reducing the risk of legal issues related to employment law, wages, benefits, and workplace safety.
Fractional HR allows businesses to tailor the HR services they need based on their specific goals and challenges. Whether it's crafting a company culture or creating employee training programs, fractional HR services can be customized to suit the unique needs of your organization.
Before engaging a fractional HR provider, assess your business’s HR needs. Are you struggling with hiring, employee management, or benefits administration? Having a clear understanding of your specific needs will help you find the right fractional HR partner.
It’s important to select a fractional HR provider with the experience and expertise that aligns with your business goals. Consider their track record, industry experience, and ability to scale services as your company grows.
When working with a fractional HR professional, clear communication is key. Establish expectations regarding deliverables, timelines, and key performance indicators (KPIs) to ensure that both parties are aligned on the objectives of the engagement.
Just like any partnership, regular communication and feedback are important. Monitor the effectiveness of the HR services provided and adjust the scope as necessary to ensure you're getting the most value from your investment.
Fractional HR is particularly beneficial for:
Fractional HR is an innovative solution that enables businesses to tap into expert-level HR support without the financial burden of hiring a full-time HR department. For small and mid-sized businesses looking to streamline HR processes, ensure legal compliance, and foster employee engagement, fractional HR is an excellent way to scale operations effectively while focusing on growth. By leveraging the expertise and flexibility of fractional HR, businesses can position themselves for long-term success without the overhead and administrative headaches.
Whether you need help with recruitment, compliance, or strategic HR planning, fractional HR offers the right mix of experience, cost-efficiency, and scalability to meet your evolving business needs.
by Beth Rovazzini - Director of Revenue for Sandler DTB and Owner of B&W Plumbing Heating Cooling and Drains
Have you ever stopped to consider whether customer service should be treated as an administrative/office function or a vital component of your sales strategy? The answer might surprise you. Most companies generate the bulk of their revenue from existing customers. Yet, how many businesses truly have a consistent and effective system in place to nurture these relationships?
Keeping Your Existing Customers
How do you keep your existing customers engaged and satisfied? Do you have a systematic approach for showing appreciation? A simple gesture, like a thank-you note or exclusive offer, can go a long way in building loyalty. If your customers feel valued, they are more likely to stay with you and continue using your services.
Offering Additional Services
Do you have a strategy for introducing your customers to services they aren’t currently using? Many companies overlook this opportunity, yet it’s a proven way to increase revenue. Educating your customers about the full range of your offerings shows that you understand their needs and are ready to meet them.
Reconnecting with Past Customers
What about previous customers who have drifted away? Do you have a system for reaching out to them? A well-timed call, email, or even a postcard can remind them of the value your company provides and encourage them to return.
The Frustration of Being Overlooked
Think about how you feel when your cable provider or another company offers massive discounts to attract new customers while providing nothing for their loyal, long-time customers. It’s frustrating, isn’t it? Don’t let your own business fall into that trap. Treating your existing customers as a priority can significantly impact your bottom line.
The Power of a 10% Increase
What if you increased revenue from existing customers by just 10%? Would that be significant for your business? Most companies already have all the contact information for their current and past customers. The real question is: what are you doing with it?
The Customer Service Mindset
After running a plumbing and heating company for over 35 years, I can tell you this—when you start looking at customer service as a sales function, a funny thing happens: your sales increase. Customer service is not just about solving problems or answering questions; it’s about building relationships, fostering trust, and creating opportunities to serve your customers better.
If you don’t have a system for retaining customers, showing appreciation, or reactivating past relationships, let’s talk.
