The Northern Kentucky Tri-County Financial Improvement Company (Tri-ED) just lately carried out a survey with 86 Northern Kentucky enterprise leaders offering perception on the alternatives and challenges the pandemic and restoration have offered to our area’s firms.
“Gathering enterprise perception and key information that we are able to share with our communities and corporations are priorities for Tri-ED. Now we have the experience and instruments in place and we plan to leverage them on an ongoing foundation,” mentioned CEO Lee Crume. “I just lately heard this: ‘You may’t resolve issues you don’t see. Knowledge reveals the issue.’ Via information, we are able to establish areas to enhance our providers and methods to reinforce our group.”
Hiring is a precedence for NKY employers
“With NKY’s labor drive participation fee at 67 %, larger than each the state and nationwide averages, we all know that hiring is a problem many employers are dealing with,” mentioned VP of Financial Improvement Kimberly Rossetti. “Outreach about workforce packages and providers was requested by 73 % of respondents. We’re working with GROW NKY and our companions, Northern Kentucky Profession Heart and the Workforce Funding Board, and schooling establishments akin to Gateway Group & Technical Faculty to assist employers with attraction and retention of expertise.”
Via GROW NKY, many employers have taken benefit of Strategic Workforce Motion Group (SWAT) conferences that carry collectively a coalition of organizations in Northern Kentucky to fulfill with firms so that they have the assets they should develop, entice, retain and advance a globally aggressive workforce.
Corporations are taking a progressive method towards worker well being and well-being, variety, fairness and inclusion, sustainability and group engagement in Northern Kentucky.
They’re utilizing insurance policies in these areas as worker attraction and retention instruments. Over 70 % of respondents mentioned they’re actively engaged on insurance policies in these areas whereas 16 % have insurance policies in place already.
One instance is Perfetti Van Melle U.S.A., maker of Airheads, Mentos and one of many world’s largest producers and distributors of confectionery and chewing gum with headquarters and manufacturing services in Northern Kentucky. Perfetti affords aggressive pay and nice advantages that embody medical, dental and imaginative and prescient protection, paid day without work, a 401K plan that’s among the many prime 1% of plans within the U.S., profession growth and the distinctive perk of a month-to-month sweet allotment. The corporate simply introduced it can transfer to extra sustainable packaging for its Mentos Pure Contemporary Gum, launching a recyclable paperboard bottle packaging within the U.S. market starting within the first half of 2022.
Perfetti makes life sweeter for workers and residents of the Cincinnati area by way of group engagement with a wide range of non-profit organizations such because the City League of Better Southwestern Ohio, United Means’s Digital Fairness Initiative and the Ronald McDonald Home.
Nationally and regionally there’s an ongoing dialogue about staff returning to the workplace and whether or not or not the workplace is “lifeless.”
In a latest interview with 91.7 WVXU, Corporex CEO Dan Sink shared that six tenants at RiverCenter, throughout a wide range of business sectors, are increasing.
In accordance with 90 % of survey respondents, new insurance policies round working remotely will probably be developed and at the least some staff will proceed to do business from home.
“The businesses we’ve labored to retain and convey to Northern Kentucky in 2021 have been a mixture of workplace and manufacturing,” added Rossetti. “Legion Logistics President Lacy Starling mentioned that they hope the corporate’s new area in Newport on the Levee will help recruitment and retention to speed up their development.”
Tri-ED labored with Legion Logistics and the Metropolis of Newport to retain the corporate in Northern Kentucky when it was contemplating a brand new location.
Provide chain challenges influence NKY companies
Disruption of the availability chain is impacting NKY firms; 75 % of respondents indicated that, apart from workforce, provide chain disruption is their #1 concern.
Getting supplies, both domestically or internationally, is a problem and rising costs are an impediment companies are dealing with.
With greater than 40 automotive business suppliers in Boone, Campbell and Kenton counties, the scarcity of semiconductor chips and electronics was particularly talked about by 5 % of respondents.
Enterprise retention and enlargement (BRE) outreach program
Angie Mulberry, Director of Enterprise Retention at Tri-ED, has visited greater than 80 firms up to now in 2021. Via the BRE program, Tri-ED connects current companies with options to maintain operations and speed up development — from figuring out potential tax incentives, websites for potential expansions and workforce recruiting grants to creating connections with regional companions.
Mulberry typically shares the Bluegrass State Skills Corporation (BSSC) grant alternative with firms in Northern Kentucky.
Via the Kentucky Cupboard for Financial Improvement’s Grant-in-Assist and Expertise Coaching Funding Credit score, companies can apply for funds to help worker coaching and up-skilling.
“This survey offers us a glimpse of the challenges and alternatives our companies are dealing with,” famous Crume. “Via our BRE conferences, we are going to work with firms to seek out areas the place we can assist and help them. We’re planning to fulfill with CEOs in August to learn how we are able to do extra to serve our enterprise group.”
In 2020, Crume and Rossetti spoke with 20 Northern Kentucky enterprise leaders from a wide range of business sectors to achieve an understanding of how COVID-19 affected their operations, workforce and projections for 2020 revenues, development and restoration. A brief report of these findings is available here.
Northern Kentucky Tri-ED serves as the first financial growth firm for Boone, Campbell and Kenton counties, offering advertising and marketing, enterprise retention and enlargement providers for the area. Tri-ED’s imaginative and prescient is alternative and prosperity for all Northern Kentuckians.