The Fort Worth Chamberletter

Accepting the Vision Fort Worth 20/20 Awards for their companies were (l tor): Chip Hanna, Balcom Agency; Mark Thielke, Community Bank; Tommy Lawler, Weaver; and Bob Pence, Freese and Nichols, Inc.

Vision Fort Worth, the Chamber of Commerce’s program for young professionals (YPs), has honored four Tarrant County businesses with the inaugural 20/20 Awards in recognition of the companies’ commitments to attracting, retaining and engaging professionals between the ages of 20 and 40.

Winners were selected by Vision Fort Worth members from nine finalists among a field of 38 nominees and 25 applicants. In a three-pronged process, companies were granted points on a written application, a survey of their YP employees, and an online vote from Vision Fort Worth members and others.

Criteria included benefits, training and empowerment, community and quality of life and the recruitment and recognition of young professionals. The awards are a tribute to forward-thinking companies with “perfect vision” that make Fort Worth a better place for young talent to live, work and play, Chamber officials said.

Finalists were honored at a May 12 reception at Reata Restaurant in downtown Fort Worth. After a special performance by the Four Day Weekend Improvisational Comedy troupe, winners were announced:

Small company – Balcom Agency, a marketing, advertising, interactive and public relations firm. More than 70 percent of Balcom’s 25 employees are Generation Y (those born during the 1980s and early ’90s). Balcom’s training and empowerment for YPs involve skill set training, mentoring, education reimbursement and support for involvement in professional organizations.

Mid-size company – Community Bank, a family-owned, independent bank with 153 employees, 29 percent of whom are YPs. Community Bank’s empowerment for YPs includes training in areas such as leadership, skill sets and customer relations along with flexible work schedules, a health club discount and a team bonus plan.

Large company – Weaver, a financial planning firm with 382 employees, 67 percent of whom are YPs. Weaver’s support of YPs ranges from training in many areas to support such as paid time off to study for the CPA exam, pay for licensing fees, a women’s initiative commitment, a flexible work schedule and team bonus program.

Best Overall – Freese and Nichols, Inc., a consulting firm with 450 employees, 53 percent of whom are YPs. Freese and Nichols provides professional development in a wide range of training programs along with education reimbursement, an individual performance plan, time off for community service and a team bonus plan.

Sponsors of the event were Concussion, Fort Worth, Texas magazine, Bank of Texas, Bell Helicopter, Chesapeake Energy, and Healthpoint.

Richard Florida: “The Creative Class is the core force of economic growth in our future economy.”

Urban theorist Richard Florida sees one form of wealth worth banking on now and throughout the future — human capital.

“For the first time in human history, the basic logic of our economy dictates that further economic development requires the further development and use of human creative capabilities,” Florida said in an e-mail interview with the Fort Worth Chamber of Commerce.

“The great challenge of our time is to find ways to tap into every human’s creativity.”

Florida is author of the national and international best-selling book Who’s Your City? Lauded globally as one of the world’s leading public intellectuals, he is director of the Martin Prosperity Institute at the University of Toronto’s Rotman School of Management and founder of the Creative Class Group, an advisory services firm that charts business and community trends.

Florida will address the Chamber’s 127th annual meeting June 9 at the Renaissance Worthington Hotel. He shared some of his views in advance in the following Q&A.

What’s one measure that can show Fort Worth whether it’s growing as a center for innovation?

Human capital. The driving force behind any effective economic development or business strategy is talented people. We live in a more mobile age than ever before. People, especially top creative talent, move around a lot. A community’s ability to attract and retain top talent is the defining issue of the creative age. For businesses considering a potential relocation or expansion decision, talent plays a critical role; it is one of most important criteria. Firms that are relocating are evaluating the talent pools of target communities to determine if there is a match between their needs and the area’s strengths.

How compatible with a creative class is the Texas ethic of hard work and responsible living?

Very compatible. One of the greatest challenges we face is tapping into the creativity and work ethic potential of our entire workforce. As I have written before, I believe, every single human being is creative. Economic growth is driven by creativity, so if we want to increase it, we have to tap into the creativity of everyone. That’s what makes me optimistic.

What type of leadership is most likely to dispute your view of the value of a creative class?

The great urbanist Jane Jacobs has a word for this kind of person. What distinguishes thriving cities from those that stagnate and decline is a group of people she calls the “squelchers.” Squelchers, she explains, are those political, business, and civic leaders that divert human creative energy by posing roadblocks and saying “no” to new ideas.

What makes the creative class so powerful as an economic engine?

The Creative Class describes 40 million workers — 30 percent of the U.S. workforce — and includes two segments of workers:

Creative Professionals – These professionals are the classic knowledge-based workers and include those working in healthcare, business and finance, the legal sector, and education.

Super-Creative Core – These workers include scientists, engineers, techies, innovators, and researchers, as well as artists, designers, writers and musicians.

The Creative Class is the core force of economic growth in our future economy. In fact, the Creative Class is expected to add more than 10 million jobs in the next decade. Even though the Creative Class represents only a third of the workforce, they earn more than $2.1 trillion dollars — 50 percent of all wages and salaries in the United States. This total represents as much as the manufacturing and service sectors combined. In addition, the Creative Class controls nearly 70 percent — almost $500 billion — of the discretionary income (buying power) in the U.S. This is more than double that of the manufacturing and service sectors combined.

What’s one of the greatest challenges for a city in nurturing a creative class?

Creating an authentic community that appeals to the Creative Class. Today’s knowledge workers, not only expect a diverse innovative working environment but a community that is aesthetically pleasing with rich opportunities. It’s important to remember: the place creative workers choose to live is the most important decision we will make, largely because it influences and shapes all the others: from job opportunities and career options to our investments, the friends we make, the people we date, the mates we ultimately choose and the way we raise our families.

Regions and communities who successfully compete for creative talent – and the companies who employ them — will be those that provide creative works with a complete authentic community – a good job market/ economy, thick amenities (restaurants, arts, parks, etc.), appealing aesthetics, safe neighborhoods, viable public transportation or connectivity, etc.

What type of civic and business leadership does it take to develop a city with a strong creative class?

Engaged civic and business leadership is critically important to a thriving community. As I described in Who’s Your City, it has a profound impact on the success of a community and the happiness and satisfaction residents have with their community.

In our research, we found that citizens who are satisfied with their community’s leadership are more likely to recommend their community to another person as a place to live or do business.

Almost 82 percent of businesses surveyed recently by the Fort Worth Chamber of Commerce indicated that they believe their business location in DFW insulates their company to a degree from the global recession.

The membership survey was conducted via e-mail by the Chamber earlier this month,with 2,515 companies surveyed and 386 responding (15 percent).

“We often take a pulse of the membership to see what their plans and concerns are and to confirm whether or not some of our assumptions are true,” said David Berzina, executive vice president of economic development. “Texas’ business climate is ranked one of the best in the world, and the best in the U.S. We think these survey results bear that out.”

When asked, 51.6 percent said a DFW location “somewhat” insulated them, and 30.1 percent said it “substantially” insulated them. Eleven percent said no and six percent said it did not apply due to international sales.

Most respondents were in the service sector (66 percent) with the remainder equally divided in retail, commercial and manufacturing. When asked if the recession had cut into company profits, 52.3 percent said somewhat, while 26 percent said substantially.

While 37 percent said their expansion plans had been put on hold, 20 percent said they were expanding anyway.

The employment picture was not so dire, either. When asked if they had laid off any personnel, 70 percent said none. Eighteen percent said they had laid off one-to-five employees. Only 5 percent had laid off more than 20 employees. In fact, 24 percent said hiring continues at their company, while 34 percent who had plans to hire prior to the downturn are now on hold.

Thirty-eight percent of respondents had 1-10 employees, 31 percent had 11-50, 10 percent had 51-100 and 21 percent had more than 100 employees.

Fort Worth Chamber of Commerce Survey
Your Business and This Recession – sent April 2009

1. What type of business do you operate
   Retail – 9.6%
   Commercial – 13.7%
   Manufacturing / warehouse – 10.6%
   Service – 66.1%
2. How many employees do you currently have?
   1-10 – 37.8%
   11-50 – 31.3%
   51-100 – 10.1%
   100+ – 20.7%
3. Has the recession cut into your company profit?
   No – 21.8%
   Somewhat – 52.3%
   Substantially – 25.9%
4. Have you laid off any personnel because of the economic situation?
   None – 70.2%
   1-5 – 18.4%
   5-20 – 6.7%
   20+ – 4.7%
5. Did you have capital expansion plans prior to the economic downturn that are currently on hold?
   No – 42.2%
   On hold – 37%
   Expanding – 20.7%
6. Did you have plans to hire additional employees prior to economic downturn?
   No – 41.7%
   On hold – 34.2%
   Hiring continues – 24.1%
7. As a result of the economic climate, are customers paying invoices at a slower rate?
   No – 52.6%
   30-60 days – 36%
   60+ days – 9.8%
   120+ days – 1.6%
8. When do you project an economic turnaround in the U.S.?
   4Q 2009 – 25.6%
   1Q 2010 – 27.5%
   2Q 2010 – 21.5%
   3Q 2010 – 25.4%
9. Do you believe having a business in DFW has insulated your company to a certain degree from the international recession?
   No – 11.7%
   Somewhat – 51.6%
   Substantially – 30.1%
   N/A – 6.7%

Harris Methodist clinical nutritionists Kelly Bracht and Tayla Robertson provide guidance to TCU nutrition student Kacy Maranto.

As repairs to the economy gather momentum, companies and small businesses in need of affordable staff can turn to internships and local universities’ career services departments to find students who need work experience, particularly in their field of study.

Locally, student interns have been readily available through long-running programs at the University of Texas at Arlington, the University of North Texas and Texas Woman’s University.

And last fall, Texas Christian University’s Career Services office launched its Internship Program.

The program aims “to assist employers with having a well-trained pool of potential employees while reducing the cost of recruiting and training,” Kimshi Hickman, Career Services associate director, said. “It allows for observation of a potential employee and retention of a greater number of employees.”

As in other universities’ intern programs, TCU students benefit from “an opportunity to work in their major field of study, before graduating, in order to gain practical work experience and a better understanding of the work place,” Hickman added.

Those are vital advantages, according to the Bethlehem, Pa.-based National Association of Colleges and Employers. Employers participating in the NACE Job Outlook 2009 Survey “reported a strong preference for college candidates with relevant work experience,” Executive Director Marilyn Mackes said.

“For college students, that experience is most typically gained through an internship or co-op assignment.”

That’s true in good and bad times, NACE said, explaining that results of the 2009 survey are similar to results in the 2008 and 2007 surveys when the economy was stronger.

“This is a clear indication that relevant work experience matters regardless of the job market conditions,” Mackes said.

“College students can better position themselves with potential employers by including an internship or co-op assignment in their college plan.”

Additionally, Mackes said, use of internships or co-op assignments in a difficult job market can minimize the time needed to fill openings.

“Our studies show that in a poor economy, when employers do have jobs, they often look first to their own interns and co-op students.”

Hickman noted that internship programs offer businesses many advantages during these difficult times, including “assistance for short-term projects – particularly when a fulltime person is not available” and adding “the extra person needed to help an organization grow to the next level when the funds are not available for full-time hire.”

Additionally, she said, “developing a structured internship program helps businesses create a pipeline for recruitment of new graduates, providing project help, sending ambassadors back to campus, increasing the diversity in your organization and finally bringing in new employees who perform at higher levels more quickly.”

Top Tips for Internships:

• Have a written job description
• Offer compensation and benefits
• Schedule intern orientation sessions
• Identify activities for fun and professional development
• Give frequent evaluations
• Provide visibility

Source: TCU Career Services

More links:

• More information about intern programs
  - www.internbridge.com
  - www.naceweb.org
  - www.internships.com
• TCU Career Services
• University of Texas at Arlington Career Services
• Texas Woman’s University Career Services
• University of North Texas Internships & Cooperative Education office