BizVoiceExtra: All Sides of the Law

Bill Barrett heads the litigation group at the Williams Barrett & Wilkowski law firm in Greenwood. He says his background after graduating from Indiana University Law School (Bloomington) is invaluable in his current role.

Barrett was a clerk for both the Indiana Court of Appeals and the Indiana Tax Court. He followed that by becoming a prosecutor in Johnson County and then serving as magistrate for the Johnson circuit and superior courts.

“I’ve worn so many hats over the years that the system of advocacy that our legal system is based on is almost second nature to me,” he says. “I’m able to see things from another perspective, which is always handy. Young lawyers tend to be too committed to their positions. … When somebody says there are two sides toe very story, I say there are at least two sides.”

Barrett does appellate, campaign and election work, among other areas of focus. He also represents a variety of law enforcement agencies.

“I find that those (past) experiences have given me a breadth of perspective that have let me work in different areas, which is part of what makes us nimble and able to get along at a level of 10 lawyers – and not down to two or three, or have to jump up to 40 or 50.”

Barrett was joined by Chuck Baldwin of Ogletree Deakins and Heather Wilson of Frost Brown Todd for a roundtable discussion on the legal profession in our current BizVoice® magazine. You can read the full story at www.bizvoicemagazine.com.

Cost of Living – RPP Style

It’s no secret: It costs more to live in the big cities on both U.S. coasts. But it’s good to take a look at the numbers that actually back that up. In this case, that’s RPP – or regional price parity.

The index sets the national average cost of goods and services at 100. An RPP of 122 in the New York metro area, for example, means the city and its suburbs are about 22% more expensive than the national average. On the other end of the scale, the RPP of 80 in Danville, Illinois places it among the least expensive metro areas.

Based on 2016 personal income and cost of living data from the Bureau of Economic Analysis, here are the respective top 10 lists:

Most Expensive Metro Areas

  1. San Jose-Sunnyvale-Santa Clara, California: 127.1
  2. Santa Cruz-Watsonville, California: 124.8
  3. San Francisco-Oakland-Hayward, California: 124.7
  4. Honolulu, Hawaii: 124.4
  5. New York-Newark-Jersey City: 122.0
  6. Napa, California: 121.9
  7. Santa Rosa, California: 121.0
  8. Bridgeport-Stamford-Norwalk, Connecticut: 120.1
  9. Washington-Arlington-Alexandria: 119.1
  10. Los Angeles-Long Beach-Anaheim, California: 117.7

Least Expensive Metro Areas

  1. Beckley, West Virginia: 78.8
  2. Morristown, Tennessee: 79.5
  3. Danville, Illinois: 80.4
  4. Valdosta, Georgia: 80.9
  5. Rome, Georgia: 81.1
  6. Jonesboro, Arkansas: 81.8
  7. Hattiesburg, Mississippi: 82.1
  8. Jackson, Tennessee: 82.1
  9. Jefferson City, Missouri: 82.2
  10. Sebring, Florida: 82.6

Where the Students Are Studying

Europe was the leading destination for U.S. students studying aboard in 2017. Oxford and Cambridge helped propel the United Kingdom to the top of the list, with a favorable climate and rich culture lifting Italy to second place.

The top 10, according to the Institute of International Education’s 2017 Open Doors report:

  1. United Kingdom: 39,140 students
  2. Italy: 34,894
  3. Spain: 29,975
  4. France: 17,214
  5. Germany: 11,900
  6. China: 11,688
  7. Ireland: 11,070
  8. Australia: 9,536
  9. Costa Rica: 9,233
  10. Japan: 7,145

Research: Debriefing Pays Off for Teams

Teams take many forms in today’s workplace. No matter the size or location of work groups, however, those that debrief have significantly higher performance levels, according to researchers at Rice University.

“Team Development: The Power of Debriefing,” which appeared in the spring edition of the journal People and Strategy, focuses on how debriefing can impact teamwork activities.

The study found that teams that debrief — i.e., meet to discuss what went well and what did not during a particular activity — outperform teams that do not by about 20 percent. Performance was measured according to objectively quantifiable output from personnel records, self-ratings and performance appraisal ratings.

The debriefings do not necessarily have to be long, according to Eduardo Salas, one of the authors. Most in the analyzed research samples were fairly efficient and lasted 15 to 60 minutes.

Salas and his fellow authors created a list of best practices for successful debriefing sessions based on the existing research.

Before a debriefing:

  • Allocate time to debrief following team activities
  • Educate team leaders on how and why to lead team debriefings
  • Teach leaders and team members about what really influences team effectiveness – the “science” of teamwork
  • Ensure that all team members feel comfortable actively participating in a debriefing

During a debriefing:

  • Avoid the following: too much focus on task work; telling, not discussing; improper or inadequate focus; taking a good look back, but no definitive look forward and being too evaluative or threatening
  • Try to conduct the debriefing close in time to the “action,” if possible
  • Record conclusions and agreements reached to be able to “close the loop” after the debriefing. Make sure everyone has an understanding of next steps, and follow up with team members when appropriate  
  • Consider trying technology to assist with debriefings (if appropriate)

Following a debriefing:

  • Boost accountability and willingness to participate in future debriefings by following up on agreements and communicating progress. For instance, provide examples of what resulted from debriefing sessions, and follow up on progress
  • Conduct periodic debriefings that are “fit for purpose.” For example, ask if a particular issue needs to be discussed and be mindful of how this discussion can benefit the current work environment

Salas said while there is no magical, perfect frequency with which to conduct debriefings, a good rule of thumb is to increase frequency as teamwork becomes more complex and dynamic. He also said that senior leadership should consider “decision debriefs,” where they take a recent decision and discuss what the decision was, how the decision was made (e.g., who was involved, decision governance, information considered, speed of decision making and the way things were communicated), what was done well and what could have been done differently and what this means for future decisions.

Going for the Balanced Approach

Work-life balance is realized by some after years of effort, while the concept remains elusive to others. But what about recent college graduates?

Here is some guidance from Purdue University’s Ellen Ernst Kossek, the Basil S. Turner Professor of Management in the Krannert School of Management and research director at the Butler Center of Leadership Excellence.

Schedule fun (and healthy) ways to unwind: “Take time to reflect on ways you can unwind and identify your passions to continue as you enter the world of full-time work. Is it tennis, a book club, running, Comic-Con, gaming, lunch with friends, working out at the gym, walking in nature with a pet? Whatever makes you feel good and your heart sing, try to organize your calendar to block out time daily or weekly as you plan your work week. It is easy for work to creep in and take over your leisure time.”

Avoid long commutes: “Assess your commuting time as you search for apartments and pick one with a commute of 30 minutes or less that is close to safe public transportation. Living in the hot spot of night life may be fun, but if the commutes are long, you should consider living closer to work. You can always take a Lyft on the weekends and make your weekdays less hectic.”

Get plenty of sleep: “Regular sleep is very important to plan in your daily routine, and most of us need seven to eight hours at a minimum. During the work week, you should go to bed at a decent hour on a regular schedule. Being a night-owl and writing term papers may work in college, but it’s not a good idea for your health or well-being at work.”

Abstain from social media at work: “Learn your boundary management style and avoid checking personal communication at work. This helps you focus and get done early. I have found that many young people integrate their work and personal lives. While it’s fun to check Instagram during the day, you can lose concentration and mental flow. This can result in your having to stay later at work due to increased process losses from increased switching costs and greater transitions between your job and your personal life.”

Unplug at home: “Manage your smartphone wisely to unplug from work at night and on the weekends. It is easy to become addicted to work and engage in overwork as you are trying to build your career. Don’t get in the habit of checking work emails or texts on the weekends unless something is critically important. Let your boss and colleagues know how to reach you for important matters, but also let them know when you are offline, too, so you don’t become burnt out.” 

Adding Up the 401(k) Savings

Much of the discussion around retirements is rightfully focused on the large numbers of people who are not saving enough. But The Washington Post recently shared some positive information:

The number of workers with $1 million or more in their 401(k) increased to 157,000 at the end of the first quarter this year, an increase of 45 percent compared with the same time a year earlier, according to Fidelity Investments, one of the country’s largest administrators of workplace retirement accounts.

“There’s no doubt that many of Fidelity’s 401(k) millionaires have benefited from the market’s positive performance, but they also exhibit many of the behaviors we recommend to make the most of your savings,” said Jeanne Thompson, senior vice president for Fidelity. “They contribute enough to get their full company match, they’re less likely to take 401(k) loans, they don’t cash out when changing jobs and they invest for growth — on average, 401(k) millionaires hold 76 percent of their savings in equity mutual funds.”

Workers can now contribute up to $18,500 each year to a workplace plan such as a 401(k) or the federal government’s Thrift Savings Plan (TSP). If you’re over 50, there’s a catch-up provision that allows you to contribute up to $24,000 to an employer-sponsored retirement plan.

Fidelity’s analysis of first quarter data also found the following.

  • Workers who have saved in their company’s 401(k) for 10 years had a record high average account balance of $290,100, compared with $250,500 a year ago.
  • Those employees who have saved for 15 years had an average balance of $379,600, up from $330,200 a year ago.

“Although found at many grade levels and in nearly every agency throughout the country, all of the people in the million-plus column have the same things in common: they have invested for the long haul, and invested heavily or exclusively in the stock-indexed C and S funds,” Mike Causey of Federal News Radio wrote. “When markets drop dramatically — as they did in 1997 and during the Great Recession — they continue to purchase stocks getting more shares each pay period because they are investing the same amount of money, which purchases a larger share of the C and S funds. Also, all of those eligible for it have taken advantage of the total 5 percent match available from their agency.”

Apprenticeships Taking Center Stage

In 2017, there were more than 533,000 apprentices participating in nearly 22,500 apprenticeship programs.

Apprenticeships and Community Colleges: Do They Have a Future Together is a recent report from the American Enterprise Institute. Below is a summary:

Most of today’s college students view having suc­cess in the workplace, earning a decent salary, and having a fulfilling career as key reasons for pursu­ing higher education. This sentiment is echoed by gov­ernors, state legislators, and higher education leaders who are looking at the labor market success of gradu­ates to evaluate how well postsecondary institutions are preparing students to join the workforce and contrib­ute to the economy.

However, there is a growing belief that colleges are not adequately preparing students for the jobs and careers needed in the 21st century and that a substantial gap exists between the training and education America’s college graduates receive and the skills today’s labor market demands.

Of the many options being actively discussed to bridge the divide, apprenticeship programs are attract­ing widespread bipartisan support. Apprenticeships are often considered the “gold standard” of workforce edu­cation. They are formal training programs during which successful applicants are paid while being trained on the job by experienced workers or mentors.

Acquiring new skills in the workplace is accompanied by related train­ing, typically provided by an educational institution such as a community college or a trade organization such as a union. In the past two years of his adminis­tration, President Barack Obama made apprenticeships a priority, directing well over $250 million to support apprenticeship programs. In 2017, President Trump signed an executive order to increase federal funding from $90 million per year to $200 million.

Public two-year community colleges are already central to the nation’s career and technical education system, granting hundreds of thousands of occupa­tionally oriented certificates and technically focused associate degrees. Many community college leaders have welcomed the administration’s call for appren­ticeship programs, and some have already shown themselves adept at working with the Department of Labor’s registered apprenticeship programs. But the overwhelming majority of community colleges have a ways to go before they can meaningfully contribute to the number of apprenticeships that so many poli­ticians and analysts argue the nation needs.

In this report we explore how community col­leges could play a more active role in growing the number of apprenticeships nationwide, a role that would contribute to resolving the current mismatch between what postsecondary institutions produce and what employers need.

All About the Innovation Districts

Larry Gigerich, executive managing director at Ginovus and an Indiana Chamber board member, recently wrote about innovation districts and their importance – accessing talent, collaborating with higher educational institutions and partnering with other private sector companies.

Below are three of the lists he shared as part of that writing:

Innovation District Characteristics

  • Proximity to higher educational research assets (university, college, hospital, etc.)
  • Presence of research based organizations (non-profit and/or for profit)
  • Location of technology enabled company facilities
  • Magnets (quality of place assets) for talent
  • Available real estate for development
  • Access to the different forms of transportation
  • Co-working space for researchers
  • Retail services to support people working in the area

 Well-Established U.S. Innovation Districts

  • The Cleveland Health-Tech Corridor
  • Kendall Square in Cambridge
  • University City in Philadelphia
  • Research Triangle Park in Raleigh-Durham
  • Medical Alley in Rochester
  • University Research Park in Madison
  • Research Park in Salt Lake City
  • South Lake Union in Seattle

 Developing Innovation Districts

  •  Cortex in St. Louis
  • 16 Tech in Indianapolis
  • Future City in Detroit
  • Akron Innovation District
  • Syracuse Innovation Zone
  • The Innovation District of Chattanooga
  • University Research Park in Ames
  • Yanke Research Park in Boise

Women Gain Legislative Seats

The share of women holding state legislative seats across the country reached 20% following the 1992 election. It took 26 more years for that number to climb past 25%. The National Conference of State Legislatures breaks down the numbers:

By the Numbers

  • 1,866: Female legislators in the 50 states
  • 1,141: Democrats
  • 704: Republicans
  • 8: Third party
  • 13: Nonpartisan
  • 66: Female leaders in the 50 states
  • 18.9%: Leaders who are women
  • 44: Democratic leaders
  • 22: Republican leaders
  • 6: House speakers
  • 3: Senate presidents

States with the highest percentage of female legislators:

  1. Arizona, 41.1%
  2. Vermont, 40%
  3. Nevada, 39.7%
  4. Colorado, 38%
  5. Washington, 37.4%
  6. Illinois, 35%
  7. Maine, 33.9%
  8. Minnesota, 32.3%
  9. Oregon, 32.2%
  10. Maryland, 31.9%

#BizVoiceExtra: A Good Challenge to Have

Call it a pleasant problem – and one I had not considered previously despite this being the 13th year of the Best Places to Work in Indiana program. You’re a winning company and you have a lot of team members who want to take part in the annual awards celebration. So what do you do?

A few organizations in the past have indicated a lottery-style system to determine attendees. During the roundtable discussion in our current issue, representatives of two of the winning companies this time around broached the topic.

Joshua Plank of WestPoint Financial noted he was sad to be missing out in 2018 due to an out-of-town commitment, but that the company table often includes “a couple of recruiters, maybe one or two partners and then typically younger people so they can see it and be a part of it. They think it’s the greatest thing ever.”

Pamela Carrington Rotto of J.C. Hart says her team takes a similar approach.

“The event, of course, is huge and we try to get a variety of folks from across the organization there. That’s always really fun and exciting for people, and it’s a great way for associates who are emerging leaders to kind of get in and see what that looks like and to be a part of it.”

The third roundtable participant is Matthew Griffin of The Garrett Companies, a Best Places winner in its first year of eligibility (recent growth helped it soar past the 15-employee minimum). While the expansion has been impressive, it is also taking place at a controlled pace.

“It has been rapid, but we still feel like we’re growing strategically. We are in a very favorable market for multi-family (real estate) development across the country,” he shares. “Our investors and our bank lending partners would like to do more deals with us and we’ve strategically said, ‘No, we’re going to do this much capacity because we (won’t be) able to perform the way we’re performing now.’ ”

The Garrett Companies, welcome to the “who’s going to attend the celebration” dilemma. It’s one that many others would like to face. And to see if that could be your organization in 2019, learn more (and apply this summer) at www.bestplacestoworkIN.com.

Griffin, Plank and Carrington Rotto provide insights on what their organizations do to establish strong workplace cultures, how they cope with industry-based turnover challenges and much more in the May-June BizVoice®.