Q. INSIGHTs & INTUITION

What has been the biggest change in employee hiring in recent decades, whether it’s the application process or the type of employee your company is searching for?

DJ Campbell CPCU, SHRM-SCP Administrative Services Manager EMC Insurance Companies

I would say the biggest change I’ve seen is the tightening of talent pools. So much has changed in recruiting over the last decade -- from technology and applicant tracking software to the rise of social media and digital job boards -- the landscape is completely different. Employers no longer have the upper hand in the job search – they have to compete for talent. And, today’s candidates know what they want. This new dynamic makes it more necessary than ever for companies to be relationship driven, transparent, and intuitive to the needs of their potential new team members. Organizations also must be more creative in the ways they attract top talent through purpose driven communication, community reputation, and the engagement of the current team.

The biggest change is access to “ready and available information” for both the candidate and the employer. We can mine for information on a candidate online and through social media platforms, and they have the opportunity to do the same to us as a potential employer. Painting an accurate online picture of our culture and workplace is increasingly important to attracting the right candidates. Social media networks also provide greater opportunity to reach out to candidates who are not necessarily looking for a career change; these are truly the talented candidates that we want to hire.

Also, the application experience has improved significantly in just five years or so. The process used to be a long 20-30 minute sit down, fill in the information, sign this, upload that; now, applicants can simply upload their resume, their LinkedIn profile and provide a few personal information questions and are ready to go – and it can be done from their mobile device.

Eric Wingenbach Recruiting Administrator First

International Bank & Trust

Natalie McElroy Human Resources Business Partner ConocoPhillips,

At ConocoPhillips, we recognize that our success depends upon our employees. Each of our employees is empowered and encouraged to actively participate in our culture of innovation and collaboration. How we attract this type of individual and keep them engaged is one of our greatest priorities.

Our historic recruiting efforts for early career individuals have traditionally focused on petro-techncial degreed professionals. In recent years, we have leveraged our success from these traditional recruiting programs to ensure that our efforts cover multiple spectrums of the workforce. In North Dakota, we have developed partnerships with Williston State College and Bismarck State College to fill internship roles in the areas of field operations, such as instrumentation and electrical positions. These roles are pivotal to our success and we hope that these interns will gain foundational knowledge of the energy industry and if given the opportunity, will choose ConocoPhillips for a compelling career.

In addition to recruiting talent from these local programs, we are involved with the Industry Advisory Council at UND’s School of Engineering and Mines. Our employees offer guidance and expertise to ensure that North Dakota has a highly-skilled, technical workforce equipped to sustain future generations. It is a privilege to operate in North Dakota and we are committed to looking within the four corners of our state to support our workforce.

The strategy of recruitment today compared to recent decades is the philosophy of active recruitment (sourcing) compared to passive (waiting for an applicant to apply). Social media and job boards are active ways we recruit, and it’s important to come up with new ways to brand, sell and market our positions with the variety of generations in today’s workplace.

We have increased our focus on talent development for candidates who align to our organizational values which we assess through a behavioral-based interview experience. At Altru we involve leaders and peers in hiring decisions and include shadowing experiences whenever possible. This approach models our team-based care approach to service, focuses on employee engagement, while meeting the needs of our candidates so they can make a well-informed employment decision. Additionally, it’s important for organizations to be focused on first impressions all the way through an individual’s hiring, onboarding and orientation experience. Today’s employee is focused on professional growth, making a difference, having meaningful connections, flexible scheduling and work environments, as well as recognition and being informed. At Altru we are continually soliciting feedback from our patients and our team members as they support a continuous improvement focus that prepares us for the future while fulfilling our daily mission.

MAY CONSTRUCTION SEES BOUNCE-BACK

Year-over-year change in monthly value of construction starts; MN, MT, ND, SD

Income And Wealth Disparities Continue Through Old Age

Disparities in income and wealth among older households have become greater over the past 3 decades, according to the Government Accountability Office’s analysis of Survey of Consumer Finances (SCF) data. GAO divided older households into five groups (quintiles) based on their income and wealth. Each year of data in the analysis, and, thus, each quintile, included different sets of households over time. Average income and wealth was generally higher over time, disproportionately so for the top quintile (top 20 percent). For example, in 2016, households in the top quintile had estimated average income of $398,000, compared to about $53,000 for the middle quintile and about $14,000 for the bottom quintile. GAO also found that for quintiles with lower wealth, future income from Social Security and defined benefit pensions provide a relatively significant portion of resources in retirement for those who expect such income.

Average Household Income

In 2016 Dollars

Strong May Counters A Soft Early Construction Season In 2019

starts, by month; MN,

Ninth District Economy Sees Some Bounce

Recently the Ninth District economy saw a modest bounce higher, according to current business conditions reported by the Federal Reserve Bank of Minneapolis in its most recent Beige Book, released July 17 (and covering a period from mid-May to very early July). In particular, it noted that commercial and residential construction in the district rebounded after several slower months. Employment grew modestly, while wage and price pressures remained steady.

The first four months of the year were somewhat soft for construction in the Ninth District, the report stated. Overall levels have been relatively healthy—most industry contacts confirmed that they have solid backlogs—but total activity has been below comparable periods in 2017 and 2018. That changed in May, when the value of construction starts saw a notable uptick.

ESTIMATED PROPORTION OF OLDER AMERICANS AGES 51 TO 61 IN 1992 STILL LIVING IN 2014, BY MID-CAREER HOUSEHOLD EARNINGS