Platinum Business Insights

Finding and Retaining Great Talent

Finding great talent today is more challenging than ever for a variety of reasons, including the fact that just about every industry is now experiencing this dilemma. If you’re looking for great talent—or if you’re looking for the very best place to work—watch or listen to this discussion with:

• Bill English, president and CEO, Accurate Home Care, Otsego, Minn.;
• David Magy, principal and co-founder, Abeln, Magy, Underberg & Associates, Wayzata, Minn.; and
• Rick Trontvet, SVP of Human Resources, Marvin, Warroad, Minn., (and previously, Digi-Key, Thief River Falls, Minn.)

You can watch it on YouTube, either in its entirety or by clicking on time stamps next to each of the questions asked of panelists (provided below as well).

You can listen to this discussion online or download it from Spotify or Apple Podcasts.

A few takeaways:

• “To get someone who is gainfully and likely happily employed to move to a new position when we approach them is taking a 10 to 15 percent increase in compensation.”
• “You need to wake up every day owning your talent and figuring out each day what it is that is going to keep my best people there and get them to be advocates for bringing in greater people as well.”
• “Too often it’s been thought of as an H.R hiring issue; it’s everyone’s issue when it comes to retaining people. You need to own it as a company and as a senior... MORE

Business in the News

Here is this month’s Business in the News (BITN), a compilation of business stories from around the state usually not reported on by Twin Cities media. These stories provide business leads, trends and insights we hope you will find useful.

New Owner of Duluth Paper Mill Receives City Support

The Duluth City Council has agreed to abate up to $600,000 in property taxes over 10 years and offer a $242,000 forgivable loan to ST Paper LLC to support its acquisition of Verso Corp.'s Duluth mill. ST Paper plans to invest $25 million to convert it to produce tissue paper instead of... MORE

Speaking of Job Creation Funds... Six Companies Receive $1.67 Million for 297 New Jobs

The Minnesota Department of Employment and Economic Development (DEED) recently awarded $1.67 million in Job Creation funds to six Minnesota businesses collectively planning to create 297 new jobs over the next three years. They’re expected to be high-quality jobs that last, also... MORE