Cynde Cronin with ConnectifyHR

Perks are an important part of an employee's work experience. While employees expect to receive a paycheck at the end of the pay period, it's the extras that give working at your company a competitive edge. It might interest you to know that 7 out of 10 employees would be willing to leave their current job for better benefits somewhere else.

According to a recent Forbes Advisor survey, the five most sought-after benefits cited by employees are employer paid health care coverage, life insurance, pension and retirement plans, mandatory paid time off and mental health insurance. While these are the perks that your employees consider essential, there are other important benefits that support life-work balance. These benefits include on-site childcare, remote work, flex schedules, commuter reimbursement benefits, and employee assistance programs.

Long-term effects

An EAP can lift the burden off the shoulders of your employees so they can stay fully engaged with their job while they are at work. Many companies realize that the everyday problems we all face do not end when we come to work. In fact, one of the most important roles of an EAP is to help employees find care for their older parents or their children. Research tells us that the vast majority of employees (73%) are caregivers. For that reason, companies are providing their employees with access to referrals, resources, and a variety of information to meet specific needs.

Some EAPs also offer help with preparing legal documents such as wills, powers of attorney and health care directives. And EAP coaches are there to assist employees with money management issues such as bankruptcy, retirement savings, debt consolidation or student loans.

Another interesting perk that supports life-work balance is the four-day workweek, which is gaining momentum among American companies. Sixty-one companies in the U.K. tried the four-day workweek all the managers and CEOs of the participating firms reported very positive results, citing improved staff well-being, increased retention and reduced employee turnover.

Recruitment efforts were also enhanced once employees began to spread the word to job seekers. Interest in four-day workweeks appears to be increasing as employees take on more family responsibilities. A recent survey found that more than half of employees would be willing to work longer hours to enjoy the benefits of a shorter workweek.  

Personal employee perks such as PTO for birthdays, employee discounts, on-site services from local businesses, and even in-office massages are also appreciated.

Recruiting and retaining talent is challenging in the current job market. Companies want to do everything they can to burnish their brand among prospective candidates. In addition to offering competitive salaries, forward-thinking companies need to offer perks that enhance the quality of life for their employees.

Live events are complex by nature and require a village of professionals to bring the final product to life. Even after the planning is complete and execution begins, a dedicated technical team is working behind the scenes before the show starts, throughout the program, and long after the final cue. Here are five key technical roles that make the magic happen. 

Event Producer

The Event Producer sets the tone onsite, leading by example while overseeing technicians, technical planning, and overall show strategy. They manage communication with the clients and run rehearsals in addition to calling cues and ensuring every element works together seamlessly. Their involvement with content flow, stage management, and real-time decision-making is extensive. With ownership of the production from start to finish, the Event Producer keeps the show on track so everyone else can shine.

Click here to watch our Event Producer POV video.

Audio Lead Technician

The Audio Lead Technician ensures every word is heard exactly as intended. They oversee the installation, testing, and operation of the sound system while staying closely aligned with show cues and timelines. From rehearsals and preshow checks to managing communication systems and coordinating frequencies to avoid interference, precision is everything. Their goal is ultimately to deliver the presenter’s message loud and clear.

Playback and Records Technician

The Playback & Records Technician ensures every video cue rolls smoothly and every moment of the show is captured with clarity. Supporting the lead video technician, they manage playback for live content while also recording the full program and often overseeing the live stream. From first cue to final export, they help preserve the production long after the stage lights dim. 

Lighting Technician

From color selection to brightness and positioning, lighting plays a powerful role in shaping the mood and overall aesthetic of an event. The Lighting Technician brings the visual atmosphere of a show to life. Responsible for programming and operating lighting equipment, they combine technical expertise with creativity and problem-solving. By collaborating early with project managers and the broader team, they ensure the room looks exactly as intended. 

Breakout Technician

The Breakout Technician plays a critical role in ensuring each room is set, functional, and ready for showtime. Focused on troubleshooting and smooth operation, they make sure every piece of equipment works as intended. From loading presenter slide decks to assisting with cues and last-minute questions, they keep things running quietly and efficiently behind the scenes. Their goal is simple: make sure everyone onsite feels prepared and set up for success.

Want to see these Markey’s roles in action at your next event?  Reach out to Missy Berg with Markey's at mberg@markeys.com to connect with one of our consultants.

A labor shortage is coming. By some estimates, the U.S. could be facing a shortfall of as many as 6 million workers before the end of this decade. Once upon a time, companies could count on the enormous population of baby boomers to fill positions. However, with baby boomers retiring in droves over the past few years, companies are hard pressed to find reliable talent sources. Companies understood baby boomers in terms of their worldview and what motivated them. Younger workers see their lives and careers in a much different way than previous generations, causing a cultural shift in corporate America.

One important strategy is to invest in upskilling and training your current workforce. In this way, organizations can narrow the gap between existing employees and the need for evolving responsibilities. Effective training programs include technical certifications, tuition reimbursement, online learning platforms and leadership training workshops. These career-building opportunities will work well for retaining and building employee morale.

Artificial intelligence: can it help?

Another strategy is to streamline the hiring process using AI-driven tools. AI technology can quickly access candidate applications to identify the best talent. In addition, companies will need to present potential employees with skills-based assessments along with structured interviews to further whittle down the pool of potential candidates. In keeping an eye to the future, companies will want to partner with universities, technical colleges and professional organizations to find the next generation of employees.

There is almost universal awareness that today's employees are looking for life-work balance in their careers. A recent study reports that 70% of workers prize schedule flexibility in choosing where to work. While offering fully remote may not be the way to go for most companies, there are alternatives. Flexible work hours, compressed workweeks or a hybrid schedule are some options to investigate.

Companies such as Synchrony Financial, GE Appliances and Unilever have instituted internship programs that offer certifications and a way for younger people to receive real-world experience. Microsoft has launched a program that teaches in-demand skills such as cybersecurity and generative AI. The interns who are selected may very well land themselves a full-time paying job with the company at the end of the program.

Widening your horizons

With the rise of remote work, globalization has already become a viable option. This means that the workforce has widened beyond a company's home country. This also suggests that companies will need to change their recruiting and hiring strategies to adapt to an international landscape. Additionally, it is important to have an in-depth knowledge of local labor laws and cultural norms in each of the countries where business is being conducted. While having an international staff can be daunting at first, it can offer new sources for recruiting and hiring in a scarce job market.

An aging workforce and a trend toward early retirement are fueling the U.S. labor shortage. There will continue to be more jobs than workers to fill them for many years to come. Companies that are meeting this challenge head-on with solutions that attract and retain talented employees will be the most successful.

Interested in learning more? Chat with a Connectify HR expert today.

Protect Today's Operations While Preserving Tomorrow's Mission.

Matt Bral, CFA®, CPWA®, AIF®, Bral Niedert Private Wealth Advisors

"Why do we need different investment strategies for our operating reserves and our foundation? Can't we just manage everything the same way to keep it simple?"

It's a reasonable question, but the answer is a clear no. Many associations inadvertently manage their foundation endowments and operating reserves identically, creating unnecessary risk for both.

The Core Difference: Time Horizon Changes Everything

Your operating reserves and foundation assets serve fundamentally different purposes, requiring fundamentally different investment approaches.

Operating reserves should provide financial stability and liquidity for day-to-day needs. You might need to access these funds on short notice to cover an unexpected budget shortfall or respond to an emergency. Think of operating reserves as your financial shock absorber.

Foundation assets exist to support your mission for decades—ideally in perpetuity. Whether funding scholarships, research grants, or educational programs, your foundation should be making meaningful distributions not just this year, but 20, 50, even 100 years from now. This requires a completely different investment mindset focused on long-term growth.

What Goes Wrong When You Use the Same Approach

The 2020 pandemic provided a stark example. Associations that had invested operating reserves too aggressively faced a painful double-squeeze: conferences were cancelled (eliminating major revenue), and their reserves had dropped 20-30% in the March market decline. They were forced to sell investments at significant losses precisely when they needed cash to sustain operations. Temporary market volatility became permanent portfolio losses.

Conversely, foundations that take an overly conservative approach face a different but equally serious problem. A foundation invested primarily in cash and short-term bonds may feel stable year-to-year, but inflation steadily erodes its purchasing power. A scholarship covering half of tuition costs today might only cover a quarter in 20 years.

The Right Framework: Match Strategy to Purpose

Operating reserves should prioritize capital preservation and liquidity. This typically means a higher allocation to cash and fixed income investments with shorter maturities, ensuring funds are available when needed.

Foundation assets should focus on long-term growth to maintain purchasing power across generations. This generally involves a higher allocation to growth-oriented investments, paired with a disciplined spending policy. Many foundations use the 5% annual distribution guideline as a starting point, though the appropriate rate depends on each foundation's specific circumstances.

Both approaches should be formally documented in separate Investment Policy Statements that reflect each portfolio's unique time horizon, liquidity needs, and risk tolerance.

A Question Worth Asking

When did your board last review whether your operating reserves and foundation assets are being managed differently? Getting this distinction right can help manage your association's operations today while ensuring your foundation can serve your industry for generations to come.

About Bral Niedert

Bral Niedert Private Wealth Advisors is an independent wealth management firm based in West Des Moines. We're proud to partner with Iowa associations, helping them fulfill their fiduciary responsibilities, establish sound investment policies, and implement customized strategies that support both today's operations and tomorrow's mission.

Companies that make pay equity a priority do find that it boosts employee morale and assists in employee retention, but it is also the law. One of the most well-known of these federal laws is the Lilly Ledbetter Fair Pay Act of 2009, which extended the 180-day period for filing a lawsuit for each discriminatory paycheck. In addition to federal laws, there are also state and local laws in place that provide protection beyond the federal laws.

In order for a company to determine whether they are in compliance with pay equity regulations, they will need to conduct an internal assessment. This allows the company to identify where pay gaps exist and to take corrective steps where needed. Organizations will want to track both current and historical employee compensation to identify an existing disparity. To do this, your business will want to look specifically at median pay, starting salaries and pay growth for similar jobs over a period of time. If it is found that some groups are earning less than others, this is an immediate red flag that requires further investigation.

Start by looking back

The first question to answer is this: How did pay inequity come to exist in the first place? Start by looking carefully at job descriptions and the responsibilities described. Ask if the description truly reflects the skill level, effort and responsibility of the work. If not, then the pay levels need to be adjusted. Taking a closer look at recruitment and hiring practices may offer some insight.

Once the pay inequity is revealed, it is time to take immediate corrective actions to eliminate it. You may need to adjust pay rates and create and implement new compensation policies throughout the company.

Once the internal audit is completed, it is key that the company monitor the new pay equity policy to make sure it is tracking as expected. Other things to examine are the performance review and salary negotiations. While some employees may be worse than others at advocating for themselves, that should not mean that they are not fairly compensated for their work. All employees need to be evaluated objectively. If any pay discrepancies are discovered, they must be addressed immediately and eliminated.

Clearly, instituting pay equity in an established corporate compensation structure requires a commitment on the part of the organization to comply with federal and local laws. Pay equity is a key factor in building employee morale, loyalty and retention. The bottom line is that pay equity is not only the law but also the right thing for all stakeholders.

While employed, people are compensated for showing up and spending time in the same space. Once that pattern is discontinued, they need new habits to remain connected. If you are serious about sustaining former work relationships, you must initiate and maintain ongoing efforts to make it happen. When successful, it is a rewarding exercise in preserving relationships.

Old friends are gold

Old office mates can be a valuable commodity. Think of them, the wider network they represent, and the ties that bind them as powerful social capital. 

There are practical and emotional benefits to keeping in touch with former team members. They can enhance your career growth and personal fulfillment. Those you have known in senior roles can often continue as mentors to guide your future career. After all, they are already familiar with your professional skills and aspirations.

Previous work contacts are especially likely to lead to new career opportunities. If you remain in their address book, they are more likely to think of you as suitable openings crop up. Furthermore, you may be able to turn to long-standing and trusted colleagues for support with a referral when you need one.

You should continue to network, building a wide professional base for general insights and as a resource for bouncing ideas around and staying up to date. Your former colleagues, who have been exposed to the same industry background, are natural allies for sharing knowledge or collaboration. You have consistently participated in similar experiences and interactions. 

Lastly, do not underestimate the pure positive enjoyment of spending time with someone with whom you have grown comfortable. 

Keep lines of communication open

Do not get too focused on quid pro quo. In the end, sincerity and genuine interest will win out over repaying favors. You should be better rewarded if you nurture your connections without the overt intention of earning direct benefits. Above all, never make the conversation all about yourself, although you might share a few interesting details from your life.

It takes effort to reconstruct relationships outside work and extra impetus if you intend to rekindle a stalled one. If you once had a good rapport, you can let a few years go by, and former colleagues will still be pleased to hear from you. In those circumstances, it might be necessary to acknowledge you have lost contact without making longwinded excuses. Try to keep the tone authentic without making any assumptions. Or if you're unsure how much they remember you, reference your relationship subtly. 

Keep the conversation light, avoiding any sensitive or controversial topics. If you used to communicate on a formal level, you should still keep it professional. It would be impossible to condense everything that has happened in the intervening period, so don't even try. You should always assume the other person is busy, and remember that if you are pushy, you will likely come across as needy. If you are planning a meet-up, make it as seamless as feasible, and let them offer alternatives.

Ways to reach out

There are many routes for reconnecting: 

• Begin with an email or LinkedIn greeting. They can reply at their convenience. They may have more free time in the evenings and on weekends.
• Check out alumni sections of your old firms' websites. Many have online alumni portals with searchable directories.
• Sometimes, the ritual of work reunions can preserve ties. You might cringe at the thought of occasions like college reunions, where you may have experienced mixed emotions. Were you perhaps glad to see some former classmates and not others? Work reunions can be similar.
• Communicate regularly by email or phone or to mark events like birthdays. Use social media, such as LinkedIn, Facebook, X or Instagram.
• Be a resource, sharing information such as articles or podcasts on subjects of mutual interest.
• Offer help proactively for feedback, introductions and expertise.
• Keep it personal. Focus on family, vacations and hobbies, and be ready to give support during crises like their career transitions.

Don't give up. If not much happens, try again another time.

Submitted by Cynde Cronin with Connectify HR

Not too long ago, only the financial world relied on data. Now, whether we like it or not, data is important in every business, and it promises to become only more relevant in the future. Consequently, business leaders need to learn how to harness data's value while still trusting intuition. Sometimes the feelings and instinct that you have long relied on when making important decisions are right; other times it would be better to have data to back them up.

And metrics are at your fingertips: Your website, social media and customer contacts all generate usable data. Sometimes the biggest problem is that with so much data, it is hard to know where to start. A recent report found that 2.5 quintillion bytes — that’s a "1" followed by 18 zeros! — of data are created every day.

In other words, it is impossible to follow all the data we have. Company leaders need to recognize this and home in on the data that will help their businesses grow. Good data can be helpful for:

• Finding inefficiencies such as bottlenecks and duplications so that you can make improvements to processes
• Identifying productive employees
• Noticing changes in historical trends that may indicate potential new challenges
• Tracking customer characteristics and behavior through demographics, purchase preferences, pain points and the like
• Conducting market research by finding new competitors and competitor pricing (for example)
• Mitigating risk by assessing internal controls, cybersecurity and similar

Even this narrowed list leaves you with a lot to consider. Depending on your bandwidth, it may not be possible to monitor all your data in a meaningful way. That is why you need a plan that targets the data that is most important to your business.

Be SMART

A good way to accomplish this targeted data use is through goals that are specific, measurable, achievable, relevant and time bound. Using SMART goals provides a workable framework that includes a beginning and an end. Without the framework, it is easy to slip into never-ending cycle of looking at data but not using it to improve your business.

Once the data is gathered from your available sources, it needs to be analyzed for patterns, trends, opportunities and challenges. After it is analyzed, you have to plan how it will be used. This is where gut feeling can meet data. If the data says that shiny red puffer coats will sell but shiny blue fabric is available at a great price in large quantities, which should win, data (make red coats) or gut feeling (buy the less expensive fabric)? If the gut wins, the manufacturer risks sales. If data wins, the manufacturer must spend a lot more money on materials.

Most business owners have found themselves facing not-easy choices. In general, data gives you backup for your actions, but your instincts come from experience. In a best case scenario, the answer may be to use both.

Many associations rely on reserve investments to maintain financial stability, navigate
uncertainties, and support strategic initiatives. To fulfill their fiduciary responsibilities, association
leaders should conduct an annual review of their reserve investments to ensure alignment with
financial objectives, risk tolerance, and long-term sustainability. A structured checklist can help
maintain disciplined oversight and optimize reserves for both security and growth.

Key Components of an Annual Reserve Investment Review

1. Reserves Policy: Reserves policy should be reviewed annually to confirm it remains
aligned with the association’s financial goals and external economic conditions. Does it
still provide sufficient protection against risks while allowing for strategic growth
opportunities?

2. Investment Policy Statement: The investment policy statement (IPS) should be
evaluated to ensure it aligns with the association’s liquidity needs, return objectives, and
risk tolerance. Adjustments may be necessary if market conditions or organizational
priorities have shifted.

3. Asset Allocation: Diversification is key to managing risk and optimizing returns. Assess
whether the asset allocation strategy remains appropriate based on the outlook for the
economy, financial markets, and the association’s finances. Rebalancing may be needed
to maintain the desired risk-return profile.

4. Performance and Benchmarking: Compare investment performance against industry
benchmarks and the association’s financial goals. Are returns meeting expectations? If
not, consider adjusting the investment approach.

5. Fees: Investment and advisory fees can erode returns over time. Conduct a fee analysis
to ensure the association is receiving cost-effective services and that management
expenses remain competitive.

6. Liquidity Assessment: Reserve investments should provide a balance between long-
term growth and immediate accessibility. Confirm that the association has adequate
liquidity to cover operational expenses, unexpected costs, or strategic initiatives.

7. Governance and Compliance: Associations have a fiduciary duty to manage reserves
prudently. Ensure compliance with legal, regulatory, and governance best practices.
Board members and finance committees should stay informed and engaged in the
reserve management process.

The Importance of Process
Board members and financial leaders must act in the best interest of the association and its
members, ensuring reserves are prudently managed to safeguard long-term sustainability. A
disciplined annual review process demonstrates accountability, enhances financial resilience,
and supports the association’s ability to fulfill its mission.

Conclusion
An annual reserve investment review is essential for maintaining financial strength and fulfilling
fiduciary responsibilities. By systematically evaluating reserve policies, investment performance,
asset allocation, fees, and governance, associations can make informed decisions that protect
their financial future. Proactive reserve management ensures the association remains well-
positioned to serve its members and adapt to evolving challenges and opportunities.

About Bral Niedert
Bral Niedert Private Wealth Advisors is an independent wealth management firm based in West
Des Moines. We are proud to partner with Iowa associations to help them fulfill their fiduciary
responsibilities, establish sound policies, and implement time-tested investment strategies.

Matt Bral, CFA®, CPWA®, AIF®
Founding Partner & Director of Investment Strategy
Bral Niedert Private Wealth Advisors
matt@bralniedert.com

We had such a great response from our AV Lingo edition, we are publishing a second one! To
enhance your AV knowledge and help you communicate more effectively with your technical
team, we’ve compiled a handy guide of five audiovisual terms that you may be unfamiliar with:

1. LAV (short for Lavalier Microphone)
Definition: A small, clip-on microphone that allows presenters to speak freely without worrying
about holding a mic. It’s the behind-the-scenes hero that ensures clear sound while letting
speakers move around, making it ideal for live events where you want professionalism without
the microphone drama.

2. I-MAG (short for Image Magnification)
Definition: The use of large screens to project close-up images of the speaker or key moments
during a live event. It’s like giving every attendee a VIP experience, so even the folks in the
back row get a front-row view of the action. No more straining to see the presenter from a
distance!

3. SWITCHER (short for Video Switcher)
Definition: The director's best tool for managing multiple video feeds—whether it’s switching
between cameras, graphics, or video clips. It’s the video control center that ensures everything
looks smooth and seamless.

4. CUE
Definition: A signal or prompt given to performers, technicians, or presenters indicating when to
begin or stop a particular action. In live events, cues are essential for timing transitions, live
presentations, and integrated media content. Think of it as the “go” button for a well-timed
event.

5. LINE ARRAY
Definition: A sound system designed to ensure even audio coverage across large venues. It
arranges speakers in a vertical line to minimize distortion, so whether you’re in the front row or
all the way in the back, the sound quality is crystal clear—because no one wants to miss out on
the keynote speech.

Let us help you create a defining experience for your audience! Reach out to Missy Berg with
Markey's at mberg@markeys.com if you are planning an event and want to chat with one of our consultants.

The distribution of funds is a complicated process for all industries. From salary increases and
raises to annual performance reviews, leadership teams have much to consider.

Performance management goes beyond rating systems and paperwork. The best performance
management systems help reduce turnover costs, bolster employee retention, provide
opportunities for career growth, and showcase a commitment to your workforce.

In today's competitive business landscape, leadership teams are partnering with HR
professionals to communicate the importance of performance management more effectively to
their employees.

Reduce Employee Turnover Costs
High employee turnover rates significantly strain a company's resources. The costs associated
with recruiting, onboarding, and training new employees can quickly add up. Additionally, the
loss of institutional knowledge and the disruption caused by frequent departures can hinder
productivity and impact the overall morale of the workforce.

An effective performance management system can help mitigate turnover costs by identifying
and addressing issues that may lead to employee dissatisfaction. Regular performance reviews
allow open and honest communication between managers and employees, allowing for the
early detection and resolution of concerns. By proactively addressing these issues, companies
can enhance employee satisfaction and lessen the likelihood of turnover.

Bolster Employee Retention and Attract Top Talent
Employee retention is integral to any organization's long-term success. An effective
performance management system creates an environment where employees feel valued, heard,
and supported. This, in turn, increases job satisfaction and employee loyalty, leading to higher
retention rates.

Moreover, a well-structured performance management process can attract top talent to the
organization. In today's job market, candidates are looking for both competitive salaries and
opportunities for growth and development. A transparent and robust performance management
system demonstrates that the company is committed to recognizing and rewarding employee
performance, making it an attractive prospect for potential hires.

Empower Employees and Facilitate Growth
Performance management goes beyond rating systems and paperwork. It is an opportunity to
empower employees and facilitate their growth within the organization. Through performance
reviews, employees can better understand their strengths and areas for improvement. This self-
awareness enables them to set meaningful goals and take ownership of their professional
development.

Additionally, performance management processes help identify high-potential employees
suitable for leadership or specialized roles within the company. By providing targeted feedback
and training opportunities, companies can nurture their top talent and maintain a steady pipeline
of skilled individuals for future positions.

Foster and Create a Positive Culture 
Performance reviews are often perceived as bureaucratic and complicated processes. However,
they can also be powerful tools for creating a culture of support and recognition within an
organization. When done right, performance reviews provide a platform for managers to
acknowledge and appreciate employees'; contributions, fostering a sense of belonging and
appreciation.

A well-oiled performance management process ensures that employees feel valued and seen
as valuable resources to the company. It provides a framework for managers to provide
constructive feedback, set clear goals, and support employees' professional development. By
establishing a culture of support and recognition, companies can enhance employee
engagement and create a positive work environment.

Simplify HR and Performance Management
In today's complex business landscape, leadership teams are partnering with HR professionals
to implement performance management systems and create a thriving work environment
supporting the growth and success of employees and the business.

From salaries and raises to payroll and employee benefits, Connectify HR helps organizations
simplify HR management. Schedule a free consultation with our local team of friendly,
knowledgeable HR experts to learn more.

File returns four times a year, and at the end of the year, prepare and file Form W-2, Wage and Tax Statement, to report wages, tips and other compensation paid to employees. Each employee needs a copy. You will use Form W-3, Transmittal of Wage and Tax Statements, to transmit Form W-2 to the Social Security Administration.

Know the details

The situation can get complicated when both employee and employer have to contribute. For example, the current tax rate for Social Security is 6.2% for the company and 6.2% for the employee. For Medicare, the current rate is 1.45% for you and 1.45% for the employee. Also, an Additional Medicare Tax applies to an individual's Medicare wages that exceed a threshold amount based on the taxpayer's filing status. You'll withhold an Additional Medicare Tax of 0.9% for single filers who make more than $200,000, and for married couples filing jointly, the threshold is $250,000, but if filing separately, $125,000. You don't have to match this additional portion.

Employers report and pay Federal Unemployment Tax Act tax separately from federal income tax and Social Security and Medicare taxes. You pay FUTA tax only from your own funds. Employees don't pay this tax or have it withheld from their pay.

Mark your calendar with key dates. The IRS has an Employment Tax Due Dates page with information on what you need to do and when you need to do it. The matching share of the Social Security and Medicare payroll taxes is collected as the Federal Insurance Contributions Act taxes, and your part is considered a business expense, not a liability. Because it's a business expense, it can be written off at tax time.

Don't forget the states

This is just the beginning of an employer's responsibilities. You are likely subject to state withholding rules as well. It's essential that employers be on top of the general rules and any annual rate changes. Understanding these tax issues is important since you bear the responsibility of fulfilling your tax obligations related to your employees. It's important to send out payments on time to avoid penalties and late fees. Be sure to work closely with financial professionals to make sure you stay compliant.

Let us help you create a defining experience for your audience!  Reach out to Missy Berg with Markey's at mberg@markeys.com if you are planning an event and want to chat with one of our consultants.

CRISTEN RICH

At Community State Bank (CSB), we take immense pride in our people and our unwavering commitment to the community. Our roots run deep in Central Iowa, where we began as the Bank of Ankeny in 1902. Over the course of our 120+ year legacy, we've always prioritized our community, staying true to our mission: to connect, serve, and build our communities.

With the support of regional resources from our parent company, QCR Holdings (QCRH) Inc., CSB offers a unique blend of big bank capabilities and the personal touch of a community bank. As we continue to build upon our legacy in Central Iowa, we remain focused on what sets us apart: elevating the client experience, fostering a high-performing culture, and contributing to the betterment of our community.

One of the ways we enhance the client experience is by providing tools to prevent fraud. Our Positive Pay service adds an extra layer of protection against check fraud by automatically verifying account numbers, check numbers, and amounts. To further safeguard your business, our Payee Match service helps protect you from check payee alterations, and our ACH Positive Pay service prevents unauthorized electronic debits. These tools and services are your best defense against potential threats to your business accounts.

We also support our business clients by helping them generate interest income through our money market, CD, or sweep products. Our Intrafi ICS Sweep not only allows you to earn interest but also offers protection above the FDIC maximum of $250,000. Our team of dedicated professionals are here to provide solutions and help your business grow.

If you want to learn more, please reach out to our CSB Treasury Management team.

You may be hearing lots of talk about the importance of being a good strategic leader. However, if you scratch below the surface, it turns out that the traits that make a good strategic leader are the same time-tested abilities leaders have always needed. Let's explore what these are.

Leaders look for trends and opportunities. No one can know or monitor everything, especially in this rapidly changing world. Market research can help. Leaders execute research by creating a network of stakeholders — employees, customers, competitors and centers of influence — who keep them in the loop about what they are doing right, where they can improve and what is happening in the industry.

Here are two additional ways to approach this type of market research:

1. Form an advisory board that includes members from outside the company. This board can bring a different perspective, helping leaders assess and reassess the company's long-held beliefs. The board can also help leaders set realistic strategies that are sustainable into the future.
2. If big customers are in jeopardy, meet with them to discuss why they are leaving. Even if the company cannot remedy the situation and the customers are lost, leaders can use the opportunity to gain insight into what other customers may be thinking and make adjustments accordingly.

Leaders have the skill and strength to communicate effectively. Good leaders understand that it is essential that all stakeholders know what the business's goals are and how they will be accomplished. Leaders know that mindreading is impossible and that assuming people know your thoughts frequently leads to failure. Instead, leaders communicate with and gain buy-in from different stakeholders. This requires communications geared toward gaining and maintaining trust. It additionally requires using all methods available: proactive and responsive, in person and remote, spoken and written, and so on.

An effective way to communicate transparently is giving stakeholders the ability to voice their opinions. Consider this example: The leader wants to expand the company but other stakeholders feel the timing is wrong. The communication chain should start before any steps have been taken so that an open discussion about the pros and cons can take place. The leader's mind may not change, but all parties will feel their opinion mattered in the decision-making process.

Leaders have a good attitude toward "failure." No business has a record of 100% success. While no one seeks failure, what really matters is how company leaders handle setbacks when they do happen. Instead of blaming others, leaders work to figure out what went wrong. Under this kind of leadership, a business will foster a culture that values learning and innovation, which helps create a company culture in which mistakes are not repeated.

These three categories are intentionally broad. As leaders dive more deeply into strategic thinking and acting, they will uncover different aspects of their leadership style, how that style impacts company culture and how they can be better leaders.

The distribution of funds is a complicated process for all industries. From salary increases and raises to annual performance reviews, leadership teams have much to consider.

Performance management goes beyond rating systems and paperwork — the best performance management systems help reduce turnover costs, bolster employee retention, provide opportunities for career growth, and showcase a commitment to your workforce.

In today's competitive business landscape, leadership teams are partnering with HR professionals to communicate the importance of performance management more effectively to their employees.

Reduce Employee Turnover Costs

High rates of employee turnover are a significant strain on a company's resources. The costs associated with recruiting, onboarding, and training new employees can quickly add up. Additionally, the loss of institutional knowledge and the disruption caused by frequent departures can hinder productivity and impact the overall morale of the workforce.

An effective performance management system can help mitigate turnover costs by identifying and addressing issues that may lead to employee dissatisfaction. Regular performance reviews allow open and honest communication between managers and employees, allowing for the early detection and resolution of concerns. By proactively addressing these issues, companies can enhance employee satisfaction and lessen the likelihood of turnover.

Bolster Employee Retention and Attract Top Talent

Employee retention is integral to the long-term success of any organization. An effective performance management system creates an environment where employees feel valued, heard, and supported. This, in turn, increases job satisfaction and employee loyalty, leading to higher retention rates.

Moreover, a well-structured performance management process can attract top talent to the organization. In today's job market, candidates are looking for both competitive salaries and opportunities for growth and development. A transparent and robust performance management system demonstrates that the company is committed to recognizing and rewarding employee performance, making it an attractive prospect for potential hires.

Empower Employees and Facilitate Growth

Performance management goes beyond rating systems and paperwork. It is an opportunity to empower employees and facilitate their growth within the organization. Through performance reviews, employees can better understand their strengths and areas for improvement. This self-awareness enables them to set meaningful goals and take ownership of their professional development.

Additionally, performance management processes help identify high-potential employees suitable for leadership or specialized roles within the company. By providing targeted feedback and training opportunities, companies can nurture their top talent and maintain a steady pipeline of skilled individuals for future positions.

Foster and Create a Positive Culture 

Performance reviews are often perceived as bureaucratic and complicated processes. However, they can also be powerful tools for creating a culture of support and recognition within an organization. When done right, performance reviews provide a platform for managers to acknowledge and appreciate employees' contributions, fostering a sense of belonging and appreciation.

A well-oiled performance management process ensures that employees feel valued and seen as valuable resources to the company. It provides a framework for managers to provide constructive feedback, set clear goals, and support employees' professional development. By establishing a culture of support and recognition, companies can enhance employee engagement and create a positive work environment.

Simplify HR and Performance Management

In today's complex business landscape, leadership teams are partnering with HR professionals to implement performance management systems and create a thriving work environment supporting the growth and success of employees and the business.

From salaries and raises to payroll and employee benefits, Connectify HR helps organizations simplify HR management. Connect with our local team of HR experts to learn more about how performance management can take your organization to the next level this year.

Employee benefits are non-wage compensation provided to employees in addition to their regular wages or salaries. These benefits can include health insurance, retirement plans, paid time off, and other perks employers offer to attract and retain employees. 

Understanding these key employee benefit terms can help employees make informed decisions about their healthcare and financial well-being. By familiarizing themselves with these concepts, individuals can effectively navigate their benefits package and make the most of the offerings provided by their employer. 

Common Employee Benefit Terms

Deductible 

• Definition: A deductible is the amount of money an individual must pay for covered health care services before their health insurance plan begins to pay. 
• Example: If a health insurance plan has a $1,000 deductible, the insured individual must pay the first $1,000 of covered services themselves. 

Premium 

• Definition: A premium is the amount of money an individual or their employer pays to an insurance company for a health insurance policy. 
• Example: If an employee pays $100 monthly for health insurance, this is their premium. 

In-Network 

• Definition: In-network refers to health care providers (such as doctors and hospitals) that have contracted with a particular health insurance company to provide services at pre-negotiated rates. 
• Example: If an individual's health insurance plan has a network of preferred providers, using services within this network typically results in lower out-of-pocket costs. 

Out-of-Network 

• Definition: Out-of-network refers to healthcare providers that do not have a contract with a particular health insurance company. 
• Example: If an individual seeks medical care from an out-of-network provider, they may face higher out-of-pocket costs, or their insurance may not cover the services. 

Out-of-Pocket Maximum 

• Definition: Out-of-pocket max is the most an individual must pay for covered services in a policy period (usually a year) before their health insurance plan begins to pay 100% of the allowed amount. 
• Example: If a health insurance plan has a $5,000 out-of-pocket maximum, once the insured individual has paid $5,000 in deductibles, copayments, and coinsurance for covered services, the insurance company will pay 100% of the allowed amount for covered services for the rest of the policy period. 

Medical, Dental, Vision 

• Definition: Different types of insurance coverage that provide benefits for medical, dental, and vision care, respectively. 
• Example: Medical insurance covers doctor visits, hospital stays, and prescription medications; dental insurance covers routine check-ups, cleanings, and dental procedures; vision insurance covers eye exams, glasses, and contact lenses. 

FSA (Flexible Spending Account) 

• Definition: An FSA is an account allowing employees to set aside a portion of their earnings to pay for qualified medical or dependent care expenses. FSA accounts have annual maximums and expire at the end of each year.   
• Example: If employees contribute $2,000 to their FSA for the year, they can use this money to pay for eligible medical expenses such as copayments, deductibles, drugs, and other healthcare costs. 

HSA (Health Savings Account) 

• Definition: An HSA is a tax-advantaged savings account that individuals can use to pay for qualified medical expenses if they have a high-deductible health plan. HSA accounts can accumulate funds year after year and do not expire.  
• Example: An individual can contribute pre-tax dollars to their HSA and use the funds to pay for medical expenses such as deductibles, copayments, and other qualified expenses. 

Simplify Employee Benefits

Connectify HR provides tailored recommendations and full administrative management of employee benefits. From onboarding and enrollment to plan selection and annual renewal, your dedicated Connectify HR specialist will guide you and your employees every step of the way.

As you gear up for another year of event planning, it might be a great time to approach things differently, learn new things, and improve your skills. Here are some suggestions from the West Des Moines Marriott to help you create fantastic events this year. 

Embrace Continuous learning: Event planning requires being flexible. Take this chance to learn new methods and skills. When you learn new things, you'll be better equipped to handle changes effectively. This helps keep your events fresh and unique. 

Manage Stress Levels: Event planning can be both thrilling and stressful. Recognize the pressures of this career and take care of yourself. Use methods that reduce stress to have a better balance between work and personal life. When your mind is clear, you'll make better decisions while planning. 

Value Feedback: Feedback is invaluable. Ask clients, guests, and vendors for their thoughts. Use both constructive criticism and praise to improve how you plan events. Being open to feedback helps you build stronger relationships and make your events even better. 

Build Relationships: It's crucial to connect with others in the industry. Work closely with vendors, sponsors, and local communities to create a strong support network. Good relationships often lead to better resources, deals, and opportunities for amazing events. The West Des Moines Marriott stresses the importance of these connections for future success. 

Event planning is about evolving. The West Des Moines Marriott suggests keeping an open mind, welcoming change as a chance to grow. Aim for balance in the midst of chaos and use feedback to improve. By following these strategies, we think you'll be well on your way for an organized, successful and unforgettable events this year.  

Thinking of hosting your next event? Contact one of our event managers today to explore our versatile event spaces and partner with us to translate these invaluable insights into a successful and unforgettable reality for your next gathering

By Sarah Ogbourne and Cynde Cronin, Connectify HR

Pay transparency is a critical tool for organizations looking to attract and retain top talent. As companies strive to determine the best compensation packages for their employees, one question that often arises is whether to post wage ranges for open positions when sourcing candidates. While this may seem like a simple decision, it can be more complex, with some states now legislating pay transparency requirements.

Pay transparency refers to companies being open about the compensation provided for current and prospective employees as a step toward pay equity. Many states now require pay transparency provisions, mandating that employers post a pay scale for any open position or prohibiting employers from inquiring about salary history during the application/interview process. In 2023, it’s estimated that 25% of all private employers will be required to post pay ranges with their job ads, and that number is certain to grow in the coming years.

Pay transparency is not just a legal requirement, but it’s also something that employees are concerned with. Sites like Glassdoor, Monster, and salary.com make it easy for employees to find information on their market worth. Additionally, once a taboo practice, sharing wage information amongst coworkers is now more commonplace, especially amongst Gen Z workers. Therefore, it's essential to talk to your employees about their pay and never prohibit them from discussing their salaries.

Ensuring fair and equitable pay practices is an extremely valuable tool in your employee retention toolkit. One reason employees seek a new job is the desire for more pay. When clear communication and information around pay practices are absent, employees will likely turn to other (likely unreliable) sources for validation. Fair and competitive base pay is the leading driver of employee attraction and retention globally. When employees know the “why” behind their pay rate and know their pay is fair and competitive, they are more likely to stay. Organizations must ensure that pay rates and ranges align with specific job descriptions and utilize data to determine the market value of a particular job. Analyzing the pay among employees performing the same job and identifying differences is also essential. Employers should ensure that differences in pay between two employees in the same position or at the same level can be fully and reasonably explained by bona fide job-related factors such as tenure, experience, performance, difficulty of role, etc.

As a business, it's crucial to familiarize yourself with any state-specific mandate regarding pay transparency, especially if you are a multi-state operation and have remote workers in several states/localities. You must also consider the best way to communicate your company pay practices to potential and current employees and revisit your pay ranges and scales consistently, such as annually or semi-annually.

In conclusion, pay transparency is an essential tool for employee retention and attraction. Organizations must ensure that their pay practices are fair and equitable and that they follow state-specific mandates regarding pay transparency. By doing so, they can build trust with their employees, and employees are more likely to stay with the company.

• Background and Purpose
• Roles and Responsibilities
  Investment Objectives
• Asset Allocation Framework
• Review and Monitoring Process
  

• Portfolio construction
• Trading and rebalancing
• Performance reporting
• Investment policy statement support
• Fee benchmarking and monitoring
• Board and staff education
  

Conclusion