INSIGHTs & INTUITION

from Prairie Business November 2019

A whole lot of donuts Baker Boy expands its donut making capacity

What’s a characteristic or trait your company looks for when hiring a new employee that isn’t always apparent on paper?

“Ultimately, there are three main characteristics I look for when adding talented new team members to our organization: passion, personality and preparedness. First and foremost, I want to hear and see their passion for our industry, love for learning, and how they like helping people and solving problems. Next, I like to find people with great personality. Someone who can keep it light-hearted, smile and have a conversation throughout the interview. Answering the direct question is great but adding some small details throughout the discussion will show their personality and start building that relationship. Finally, I like when I can tell the interviewee comes prepared to share their experiences and ask the hard questions.”

Commitment to growth. As an ESOP, our company must grow in order to sustainably increase share value for our employee owners - but even more importantly, it has been a core belief of our organization for the past 30 years that growth is never an option, for one simple reason: growth creates opportunity for people, and with the very best people, we have always believed we could build something great. But growth isn’t easy and not everyone has the stomach for it. It’s not just about having the fortitude to come along for the ride, we need employees who are willing to make the necessary investment in personal and professional development at the same pace that the company is growing.

Michelle Mongeon Allen CEO JLG Architects

Mike Delfs President & CEO Jamestown Regional Medical Center

At Jamestown Regional Medical Center, we look for great teammates, people who are passionate about their work and team members who have great technical skills. JRMC employees and physicians must function exceptionally well together to reach the goal of providing excellent care to our patients and we take this very seriously. No matter our job responsibilities, each of us represents the hospital in the eyes and ears of our community.

To provide the best service and encourage teamwork, we developed Behavior Standards (attitude, communication, compassion, etc.) and we expect our team to practice these behaviors at all times. These behaviors provide the core measure of our competency at JRMC. They are the foundation for our evaluations, promotions, rewards and continued employment. These behaviors are also part of the interviewing and onboarding process.

We are blessed to work in healthcare. We get to do meaningful work that makes a difference in people’s lives every day. By practicing these standards together as a team, JRMC will achieve our goal of providing the best patient care in the nation.

At Lloyd Companies, our hiring philosophy is culture fit first, experience second. It is important for our team to work alongside others that practice shared values. We want employees who inherently do the right thing – even when no one else is looking.

As a company, we hold ourselves to a high standard and we are looking for team members who do the same. Sourcing candidates through productive interviews and conducting appropriate assessments helps narrow our search to the best match.

We have tailored our interview questions to dig deeper into who the person is – what makes them tick. Here are a couple example questions we ask:

Tell us about a value very important to you that has helped shape who you are?

• Tell us about a moment in your life you are most proud of?

• What has been the greatest disappointment of your life to date?

The responses - or lack thereof - can amaze you. We have had candidates tell such touching stories they become emotional as they share their experience. On the flip side, we have candidates not able to think of a response at all. The well-trained interviewees that practice and rehearse the typical interview questions are really thrown off then you start asking questions about their values. We desire candidates who have passion, whose values, behaviors, and ethics align with our priorities. Engaged employees are those working for a company they feel connected with. The connection starts with aligned values, passion, and interests. Statistics have proven, engaged employees lead to successful organizations.

HOUSING IS BECOMING MORE AFFORDABLE Minneapolis-St Paul, MN - Share of income spent on housing, 2019

CREIGHTON UNIVERSITY MID-AMERICAN ECONOMY INDEX

Leading Economic Indicators, last 18 months (50.0 = Growth Neutral

OMAHA, Radio Iowa, Oct. 5 – Prolonged trade wars and a continued shortage of qualified workers are two key factors in the weakening Midwestern economy, according to a survey of supply managers in Iowa and eight other states.

Creighton University economist Ernie Goss says the business conditions index sank for the fifth time in the past six months during September.

“The manufacturing economy is slowing down,” Goss says. “The overall index was at 49.1 and that’s below growth neutral of 50.0. Last month it was 49.3. This is the second straight month of below growth neutral readings. This is the lowest we’ve seen since 2016 when we did have a marked slowdown in the regional economy.”

FIXED 30-YEAR MORTGAGE RATE

Daily average for borrowers with prime credit and a loan-to-value ratio of 0.8

“These (affordability index) ratios also do not take into account the hurdle of saving up an adequate down payment, which can currently take seven years or longer in many areas and takes longer today than it used to in past decades. … Still, it’s encouraging news considering that home values climbed consistently from early 2012 through early 2019.”

Bakken Region Oil Production

Source: Zillow Affordability, 2019 ZILLOW ECONOMIC RESEARCH

“Mortgage rates fell this week, as a slew of weak economic data stoked fears of an economic slowdown and pushed investors to safer assets.”

Zillow.com, Oct. 2

Source: Zillow Mortgage Data ZILLOW ECONOMIC RESEARCH

REAL PERSONAL INCOME W.N. CENTRAL, ANNUAL

Source: U.S. Energy Information Administration

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