New North CEOs plan to invest in worker training

Most will also make capital investments in replacement and maintenance

Insight Magazine

Sixty five percent of CEOS and business owners surveyed earlier this year in Northeast Wisconsin say they plan to invest at least 9 hours in workforce education and training – a sign that even in tough economic times, the region’s employers recognize the value of keeping their workforce up-to-date in workplace skills.

Only 14 percent said they would not invest in worker training this year, while 27 percent said they would invest more than 25 hours per employee.

Cheryl Welch, executive director of the Fox Valley Workforce Development Board, says, she’s encouraged that employers are not pulling back from worker training.

“I think it’s great that they still want to invest in their future and you do that by continuing to train your workers to upgrade skills that will meet the demands of changing technology,” says Welch, who adds that federal stimulus money and state waivers should also offer opportunities for employers hard-pressed to fully fund training programs.

The survey results also indicate that more than half (52 percent) of the CEOs surveyed said they would make capital improvements in replacement and maintenance, while 33 percent said they would invest in technology enhancements.

Finally – 82 percent – said their marketing budgets would increase or remain the same this year.  Only 16 percent planned to decrease their marketing budgets.

How this survey is conducted

The survey conducted between Jan 27 and Feb 3, 2009, and had responses from 160 CEOS and business owners in Northeast Wisconsin.  Of that total, 27 percent are in manufacturing; 24 percent in services; 18 percent in retail trade; 4 percent in wholesale trade; 6 percent in finance, real estate, and insurance; 5 percent in transportation, communications and utilities; 6 percent in construction; 10 percent in other industries.

By size, 20 percent have fewer than 6 employees; 27 percent have 6-25; 21 percent have 26-50; 9 percent have 51-100; 12 percent have 101-250; 5 percent have 251-500; 4 percent have 501-1,000; and 3 percent have 1,001 or more.

The Nicolet Bank Business Pulse is a quarterly study of CEOs and business leaders in the New North (Brown, Calumet, Kewaunee, Manitowoc, Marinette, Oconto, Outagamie, Shawano and Winnebago Counties) and Menominee, Michigan.  It is designed and implemented by IntellectualMarketing.

Any COE or business representative in the region can register online to participate in the quarterly Business Pulse survey.  To register, go to: www.nicoletbank.com/business_pulse.

Questions to Dr. David G. Wegge (920) 217-7738; david@intellecutalmarketing.com

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