Iowa providing assistance for employees, employers affected by COVID-19-related layoffs

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Assistance for workers and employers affected by COVID-19-related layoffs in Iowa was announced by Governor Reynolds on March 16. Included in the guidance is information on unemployment insurance claims and available programs for employers like the Voluntary Shared Work program.

“Iowa has incredible employers accommodating the needs of Iowans during the disruption caused by COVID-19,” said Gov. Reynolds. “The state of Iowa is doing everything we can to ease the process and shorten the time it will take for Iowans to receive unemployment benefits. All of our state agencies continue to work as one team to lessen the impact COVID-19 will have on our economy and our people.”

For more information on the release, visit

For employers to avoid charges to their account from Iowa Workforce Development (IWD) for COVID-19-related lay-offs, follow these instructions:

  1. Send an email to
  2. Subject line must include ATTENTION #60
  3. List your business name
  4. List the contact name (owner, president, etc.)
  5. Include a brief note that lay-offs are due to COVID-19, and you are sending this notice to avoid a charge on your employer account
  6. Provide a list of employees being laid off with first and last name and last four digits of their Social Security number

Additional resources from IWD:

Employee COVID-19 Q & A:

Employer COVID-19 Q & A:

VSW COVID-19 Flyer

10 things for a successful buy-side M&A experience

Blog, Business | , |

By Craig Herbst

COVID-19 slowed merger and acquisition activity, but it is picking up again.

M&A can be a great way to take your business to the next level. However, most deals do not cover their cost of capital and do not get the desired results that were intended at the outset of the process. Poor preparation, inadequate integration and bad timing often are the culprits.

In our experience, considering the following 10 items will help you avoid these errors and have a much larger chance for success post-close:

Strategic intent: Being clear on the reasons you want to acquire sounds simple and straightforward, but many people do not ask themselves why before they buy.

Finish this sentence: I want to buy this business or target because …

If you can’t answer this, perhaps it’s not time to acquire a new business. Without clear intentions, the rest of these points do not matter.

Competition is not your friend: Competition among buyers is only good for the seller. Multiple buyers looking at a target results in a bidding war and possibly a price increase. After a bidding war, you might have started out with a four or five times EBITDA offer, only to end at eight or nine times EBITDA.

Beware the superstar owner: Be honest with yourself about the owner’s influence on the company. Evaluate how much of the business’ value is tied up with the owner’s knowledge, connections or way of doing things. The owner will eventually exit, and if the company is reliant on the owner, substantial value will go with them.

Synergies: Try to keep synergies for yourself if possible. Assess where synergies might exist and have a plan — keeping synergies reduces risk. When synergies are realized it creates more value. Depending on the combination of synergies and how well the target fits into your current operations will dictate how quickly you can recognize these advantages.

Some examples include:


  • Increased volume.
  • Increased pricing.


  • Decreased fixed costs.
  • Decreased variable costs.


  • Reduce fixed assets.
  • Improve working capital if divestiture of real estate exists.

Other financial

  • Evaluate a better tax position.
  • Increase borrowing capacity.

Maximum pricing: Going into a deal with a maximum price in mind is crucial. Base your price on realistic financial analysis. Complete due diligence work to determine finances and prove it through a three- to five-year analysis.

Evaluate when it’s best to walk away and do not go above your maximum price. A higher price equals a higher risk, lower return on investment and can impact both borrowing rations and free cashflow.

Financing the deal: Never do a deal that would weaken your balance sheet. Using large amounts of cheap debt may seem appealing, however it increases post-close risk. A combination of both cash and debt is ideal.

Deal structure: Asset sales are typically the best — but not always. Most people buy assets for tax purposes; however, sometimes the asset sale might not be the greatest option. If the target has specific agreements that aren’t easily transferred, a stock purchase could be best. It is crucial to weigh the pros and cons.

Asset concentration issues: Significant post-close risk involves concentration issues. Five obstacles in concentration areas that occur frequently are customers, industry, technology, suppliers and raw materials.

Many companies get an outsized portion of their revenue from only a few large customers.

Be aware of whether the business is tied to a limited number of suppliers or not.

Ensure key employees are on-board: Many times, a handful of key employees add outsized value to the business. It’s important to establish who these employees are and ensure they will stay.

Execute integration

After the deal closes, the real work begins — integration. Often, there is no right answer when it comes to integration. While nothing can guarantee a successful acquisition, these tips can significantly increase your chances for success.

A substantial amount of value can be lost if integration isn’t done well. Focus on people, processes and systems.

People: Understand the new acquisition has its culture. Merging will take time. There always will be anxiety with new and old staff so communicate and be transparent.

Processes: Build on the current operations with respect for what the acquisition has built. Consider the acquisitions’ processes and best practices — do not assume yours always are the best.

Systems: Consider the benefits of merging accounting, manufacturing, CRM and other systems to fully unify the organizations. This could take some time.

There is no foolproof recipe to making sure every acquisition works out every time. However, being knowledgeable, addressing these 10 items and having some discipline increases your chances of having a successful transition. Buying a business can be exciting, and getting a strategy in place will increase the likelihood of the outcome desired.

This article was previously published in the Tri-State Business Times.

How Employee Behavioral Styles Affect Your Bottom Line

Blog |

Hiring the right person is more important than ever. While you probably have a lot of tools at your disposal for the hiring process, you might not be considering an important aspect of potential candidates: their behavior.

How exactly do the behavioral styles of your employees affect your bottom line?

The Right Fit in the Right Role

Not having the right behavioral style in the right job will affect engagement, productivity, and overall morale. While it’s possible for individuals to perform in a role that doesn’t align with their behavior or motivation, it will cause strain and stress in the long term.

At TTI Success Insights, we look at shifts from the natural to adapted styles in DISC. “The Natural Graph shows an individual’s natural behavior, or how they prefer to do what they do. The Adapted Graph shows how an individual adapts their behavior to fit the situation they are in,” we shared.

If someone is wildly shifting their behavior to adapt to their work role, it’s a strong indicator of a poor fit. This will cost you over time no matter how hard your team is working, since employee disengagement translates to a profit loss of 34% of the disengaged employee’s annual salary, according to LinkedIn.

Get Specific: Benchmarking For Your Bottom Line

How can you make sure employees are engaged from the jump? You need to utilize the benchmarking process. Benchmarking is the process of creating the profile of the ideal candidate for a position and then measuring candidates against that profile.

It’s most commonly used in the interview process, but can also be used to measure an employee in their current role.

It’s possible to break roles down into precise maps of behavior and motivation, but make sure to remember that benchmarking is just a tool for your consideration, not the end-all-be-all of hiring. You don’t need a perfect fit and can hire against your benchmark if you find the right candidate.

You also need to be wary of discrimination, since benchmarking cannot be used to discriminate in the hiring process. Check out our article walking through benchmarking to understand how to handle bias and what not to do while benchmarking.

Move Forward With a Solid Team For Solid Profits

Understanding soft skills on your team should be a top priority for organizations. These skills are crucial to develop and understand your team, who will in turn develop and expand your network, profits, and company culture.

Something important to remember is that no two people are the same, and your employees can’t be put in a box. Behavior is an aspect of personality, which is a complex and multifaceted area of study. Personality can’t be summed up by an assessment, but aspects of personality (like behavior) can be measured and understood better.

Assessments are tools that gather information and consolidate that information into a shared vocabulary to increase understanding. Use the insights they bring to improve hiring, engagement, and retention.

This blog was originally published on TTI Success Insights. 

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