Author: Develop Team

A group of Manhattan Area Young Professionals attended the 2^nd Annual Young Professionals Day at the Kansas State Capitol on February 25, 2024. This event provided young professionals across our state an opportunity to sit at the table with our elected officials and advocate for a more competitive, innovative, prosperous, and welcoming state.

The day unfolded with remarks from elected officials followed by a panel discussion featuring several well-established Chamber Executives including Jason Smith, CEO of the Manhattan Area Chamber of Commerce. Others included Juliet Abdel of the Topeka Chamber, Renee Duxler of the Salina Chamber, and Dennis Clary of the Wichita Chamber.

The lunch session allowed for the opportunity to dine and converse with peers and legislators. These moments of informal interaction fostered new connections and opened doors to collaborative possibilities between the various chambers.

Diving deeper into the legislative process, many participants attended committee meetings or arranged meetings with their local representatives. This direct engagement highlighted the importance of voicing community needs and concerns at the state level. Allison Muth and Samantha Ellison, Manhattan Area Chamber of Commerce staff members, met with Representative Mike Dodson, Senator Usha Reddi, and finished the day meeting with Lieutenant Governor David Toland.

The event’s success has laid a foundation for future gatherings and empowered young professionals to engage in positive, meaningful change to improve their communities and set the stage for ongoing engagement and advocacy with state leaders.

Manhattan Area Young Professionals debuted their first annual Emerging Leaders Summit on October 17, 2023. This event was dedicated to empowering young professionals to reach their full potential by providing them with tools, skills, and connections to fuel their personal and professional growth. The half-day summit featured an array of exciting opportunities:

Interactive Breakout Sessions: Led by industry experts, the summit featured engaging breakout sessions covering a wide spectrum of topics, including financial planning, work-life balance, conflict management strategies, goal setting, childcare resources, and advice for serving on a board. Attendees had the chance to dive deep into two subjects that mattered most to them.

Networking Opportunities: Opportunities were provided during breakfast, lunch, and between breakout sessions for attendees to connect with other young professionals in the region. During that time, local organizations such as Big Brothers Big Sisters, WTC, and Made for Manhattan had booths to provide information about their organization and how to get involved in the community.

Inspiring Keynote Speaker: The summit commenced with an inspiring keynote address from renowned speaker and Kansas City Chiefs mascot, Dan Meers. During his presentation, Dan emphasized that your life is like a coin. You can spend it any way you wish but you will only get to spend it one time, so spend it wisely. He shared valuable lessons he has learned as a professional mascot and the obstacles he overcame after coming within inches of losing his life while practicing a zipline stunt at Arrowhead Stadium. As his speech commenced, Dan stressed that whether we are at home, at work, or in our community, we should strive for the best in life and enjoy it along the way.

The Emerging Leaders Summit was successful with over 110 participants registered for the day. This event would not have been possible without the help of our sponsors, Meadowlark and CivicPlus, and the numerous volunteers who dedicated their time to developing and running the summit. The Manhattan Area Chamber of Commerce appreciates all businesses that allowed their young professionals to take part in this event and looks forward to seeing them back at next year’s summit.

“Headed off to work!” This phrase has evolved substantially over the last 12-18 months. Who knew a global pandemic would be the drive for change in the workforce that we all needed? There used to be a time where going to work would mean showing up at a specific time, putting in your hours and heading home. This has now evolved for many of us, allowing greater control of working time versus life happenings.

There have been both advantages and disadvantages to this new norm. Many employees will say the flexibility of work hours has completely changed their life away from work, along with saving travel time. Meanwhile, others will note the heartache of technology malfunctioning or having issues communicating with others outside their organization. Melanie Luthi, a Senior Project Engineer for McCownGordon was one of four panelists to participate in a Monday Session via Zoom for Manhattan’s Young Professional Organization, HYPE, and provided outstanding insights during the panel.

Creating, Fostering, and Nurturing Culture

Mike Matson & AshLee Lattner with the Farm Bureau, emphasized that the relationships that were built before the work environment changing are the ones that continue to see success. The trust gained during face-to-face interactions in the past has allowed associates the opportunity to branch out and take on more responsibilities without any increase of oversight. When this takes place, a work environment becomes very entrepreneurial, leading to further success of companies. Shifting to a more remote working environment, however, has made us all take a step back and put a microscope on maintaining that culture, just in a more flexible way.

Clear and Concise Communication

The biggest change in the construction industry during this time is communication between Design Teams and Owners. The coordination efforts of communicating with these external partners have been a fundamental piece to project success during this time. Whether it is a Facetime with an Architect or a detailed sketch to an Engineer, being flexible with communication to others has allowed the industry to carry on. Angela Altamore, Kansas State University Foundation, shared that coming up with a consistent plan among team members will ultimately define the success. Whether it’s a daily or weekly check-in via Zoom, keeping it consistent will allow the group to understand expectations. However, nothing beats an “old-fashioned” phone call to connect with others.

The last question asked to the panelists delivered a great comment by Melanie. She recommended reaching out to your clients, associates, etc. just to see how they are doing during this transitional year. Giving someone your ear for 20-30 minutes bolsters the three items mentioned above. Melanie also promoted spending time with your peers. Most likely they are the one’s going through the same challenges and struggles and may provide an insight on how to tackle a situation.

March 26, 2021, the HYPE Develop pillar provided part 2 of the online financial planning courses: Tackling Debt, featuring Joshua Schump, a certified Dave Ramsey coach. Josh returned after giving the initial discussion in March regarding Sustainable Budgeting. This time he outlined ways to avoid adding new debt while taking on and tackling existing debts.

From the beginning, Josh taught attendees to balance perception versus reality. One of the main perceptions is that there is good debt when in reality, there is no good debt – especially consumer debt! Consumer debt is usually accumulated through payday loans, credit cards, or other nonmortgage or student loan avenues. The second perception is that your credit score is an indication of your financial health – when in reality, it is more of an indication of your relationship with debt.

Third perception: put it on the card… reality? On average you are more likely to overspend by 12% when paying with plastic! Josh also noted that studies have shown people’s mental happiness rose by 80% when they did not have credit card debt to worry about! Another perception is that you should have overdraft protection. Overdraft protection is a mechanism that moves money from one account to another to keep from overspending – banks in 2019 made an astounding $11.5 billion (with a B!) on overdraft fees alone. The best way to manage this is to always know your spending limits so the fee is not activated which in turn saves you money in the long run.

The fifth perception is that buying a new car is a sound investment – when in reality the best investment is a vehicle you can pay off quickly. Today, the average car payment is $580/month. If you saved that monthly payment, you could purchase the brand-new car outright in just three years! The sixth perception is that consolidation is good. In truth, you still have a pile of debt. The way to make consolidation work for you is if you consolidate your spending habits.

The seventh perception is, ‘I’ll just borrow the money from a friend, or from family,’ – the reality is that financial issues are some of the most difficult conversations one can have. We can eliminate these discussions by not asking or putting family and friends in a position where you are indebted to them.

Perception number eight is that a 401k loan is an available option. Reality? Never take a loan from your 401k. Never. As Josh noted, “you are taking a risk against your future to pay for your past,” and if you lose your job, you only have 60 days to repay the loan in full! Needless to say, this is not a good option and should be avoided at all costs.

The final two perceptions are that credit counseling, debt settlers, or payday loans will help; or you can simply file bankruptcy. The reality of these final items is that while they may work in the short term, they ultimately fail because they do not change your spending habits.

All of these factors contribute to difficulty in in tackling debt, but fear not, Josh does have some helpful tips to counter these negative effects. First, stop borrowing. This simple method allows you to set a finite amount that you have to repay (minus interest). Next, take time to create an intentional, proactive budget. Within this budget, create an emergency fund. This emergency fund will fight off any need to take out debt in the future and keep that fixed debt, from the first tip one, in place and keep you on track. The final step is to think sustainably. Your desire and motivation will set the momentum for reducing your debt. This is visible through the debt snowball.

The debt snowball consists of paying off your lowest consumer debt first; then pay off the second lowest consumer debt; and so on. This creates the sustainability and momentum behind tackling the debt and has the added reward of gaining little wins along the way. Some may question the snowball method (paying lowest debt first) versus the avalanche method (paying the highest debt first), and Josh notes that those who focus on the snowball method are more likely to achieve their financial goal rather than the avalanche method.

In the end, take stock of your debts, stop taking on any new debt, create a proactive and intentional budget utilizing the snowball method (while continuing to make retirement contributions, I should add), and sustainably tackle your debt for an increased feeling of not only financial wellness, but mental wellness too!

This event was sponsored by Bruce McMillan AIA Architects, P.A.

On February 26, the Hype Develop team provided an online learning opportunity featuring Manhattan-native Joshua Schumm, a certified Dave Ramsey coach. Josh is also recognized as one of the top three coaches within the region as he has helped his clients grow their wealth by over $2 million dollars since 2019.

Statistics show that on average, current retirees have $25,000 or less in their 401K retirement plan – and that’s it! With that knowledge in hand, Josh guided the group through three key steps to having a better financial outlook heading into their careers: emergency funds, budgets, and application.

Pre-2019 (and pre-COVID) rankings have the median household income at $63,688. Working 40 years, this adds up to over $2 million that passes through a household in a typical lifetime. Considering that only $25,000 is put aside for retirement, one often wonders, “where does it all go?” The average consumer debt, not including mortgages, is $38,000 per household. Seventy-seven percent of individuals are currently living paycheck to paycheck – leading 92% of us losing sleep over finances.

The good news to all of this? You are in control! Take command of your finances and build a disciplined plan moving forward. The first tool in your toolbox is to develop an emergency fund. Seventy percent of survey participants note that they would have to put a $400 medical emergency on a credit card. Having an emergency fund set aside will allow you the opportunity to cover expenses such as these without the stress or worry of the credit card payment or the interest it accrues. Start with a beginning balance of $1,000 to provide breathing room between you and whatever unexpected expense may arise. Set this balance aside and discipline yourself not to spend it on non-essential items such as a vacation, eating out, or a cushion in your checking account. Keep the money safe! Put the emergency fund in a separate account that you know can only be accessed in times of need.

With this in mind, we can actively use the second tool: a budget. Your budget will be proactive and not reactive. If we establish the $1,000 reserve or emergency fund, it allows us to have that breathing room to plan instead of reacting to the unexpected expense. Design your budget based on your goals as a spending plan. Josh led the group to realize three revelations during our time contemplating our budgets: 1. I spend too much; 2. It says I should have extra, but where is it; 3. I’ve never really thought about it this way…

The final key that Josh addressed was simply putting these tools into practice and application. Start now, be disciplined, and check in on your own finances regularly at a proactive interval.

If you would like to learn more about managing finances, join us on March 26 at noon for the next Dave Ramsey Workshop: Tackling Debt. During this second session Josh will help us uncover strategies and gain a template for a plan to tackle your debt and find freedom.

Unfortunately, COVID-19 did not disappear with the new year. Now, in 2021, we have to stay on our toes as the “side-effects” continue. One of which is UNEMPLOYMENT FRAUD. It seems harmless at first. Some unknown person submits a claim to the state using your identity. You and your employer receive a notice and report it as fraud. It stops there, right? NOPE! Unfortunately, even with as diligent as you are, it can still slip through the cracks in the system. Claims can be paid out without you knowing until that one day, you get a 1099-G in the mail showing that unemployment has been paid out to you, which you never claimed or received. “According to Gov. Kelly, after an in-depth analysis and IRS Form 1099-G fixes, KDOL has found that from Jan. 1, 2020, through Dec. 31, 2020, about $140 million in fraudulent claim payments have been made from the state’s unemployment program. She also said over $150 million in fraudulent payments have been linked to the federal benefits program, for a grand total of $290 million.” (Motter) What if this happens to you?

Let me give you a scenario of how things may play out. An employee and employer both receive an unemployment claim in the mail. Both report the claim as fraud. The employee may then take the extra step of notifying their bank, monitoring accounts, and locking their credit. Thinking this would keep the employee safe, they stay diligent but do not worry. Then one night, an unsolicited debit card arrives with the employee’s name on it. It is from a bank they do not bank with, nor a bank they are seeking to bank with. The employee calls the bank and finds out that someone had opened an account using their information. Luckily, there is no money or transactions on the account so they are able to shut it down without any issue. Being a debit account though, it did not flag on a credit report or pose a huge risk other than a potential over-draft. As unemployment claims are filed, there obviously needs to be an account associated with it for deposits. The party that files the false unemployment claim opens a fraudulent bank account under the same name the unemployment is claimed under for the money to be deposited into. Then they can link that account to their own to receive the funds. Then the employee receives a 1099-G in the mail showing claims that have been paid. What can you do about this?

Now, I am not an expert on this and everyone’s situation is different. Every state is also different in what to do as well. Please consult with an expert on your specific situation. I will, however, share what I’ve found from the state of Kansas Department of Labor:

If you received a 1099-G form for a claim that you did not receive payment for due to identity theft, you can fill out a request on the KDOL Self-Service Portal under “Dispute my 1099”, making sure to check the box for “I want to dispute my 1099” and upload an Unsworn Declaration to declare you did not receive the benefits that were stated on your 1099-G form issued from the Kansas Department of Labor.

You can also send a written dispute with your full name and last 4 digits of your social security number to the Kansas Department of Labor at the following address:

Fraudulent 1099 Inquiry
Kansas Department of Labor
401 SW Topeka Blvd.
Topeka, KS 66603-3182

Make sure to include the reason of identity theft in your written dispute and a copy of a completed Unsworn Declaration form.

Additionally, if you have not so already, go to www.dol.ks.gov/fraud to submit a report to our Fraud Investigation team. For more information on reporting fraud, see the Unemployment Fraud FAQ page.

Good luck and stay diligent!

SOURCE: Motter, Sarah. “KDOL pays $290 million in fraudulent unemployment claims”. WIBW News. 23 February 2021. https://www.wibw.com/2021/02/23/kdol-pays-290-million-in-fraudulent-unemployment-claims/

Written by Stephanie Pierce
K-State Innovation Partners

October 2020: Informative session regarding sales tax question to appear on November ballot.

Jason Hilgers, Deputy City Manager and Jason Smith, President/CEO of the Manhattan Area Chamber of Commerce

Manhattan is unique in that is falls within two counties: Riley and Pottawatomie county. A large percentage of the city’s sales tax is collected in Pottawatomie County. This area continues to experience growth through retail and business development. The City is asking residents to vote for a .5% city-wide tax, rather than a county-wide tax, for sales tax to be collected throughout all of Manhattan. This tax is called the Economic Recovery & Relief Sales Tax and will go into effect in January 2023.

What will this money be used for:

70% – Debt & infrastructure
20% – Economic Development – specifically job recruitment
10% – Workforce Housing

The Chamber supports the .5% city-wide sales tax,  to take advantage of economic development opportunities to continue to grow and prosper Manhattan. When Manhattan residents were polled about the sales tax, 65-70% were in favor. The Manhattan business community feels that we will not experience quality growth without the ability to attract and retain jobs and talented individuals. The Economic Recovery & Relief Sales Tax is key for this attraction and retainment. The Chamber has put numerous important initiatives in place for this growth and development.

Watch recorded version here.

Serving on a board is a rewarding experience to help power nonprofit success and strengthen communities. With a desire to help make the world a better place, we connected skilled young professionals to 17 organizations in the Manhattan community in Board Membership 101. In this virtual, breakout room style event, attendees learned about board positions within the community, what it takes to serve on a board, and received 1:1 interaction with key stakeholders. Cultivating these relationships is crucial for board involvement in upcoming years to help create a prosperous Manhattan.

“Because a human resources board is a little bit niche, we weren’t really sure what to expect, so we are thrilled to welcome two new members who are both interested in joining our board! This event gave us the opportunity to connect with members of the community that we might not have been able to reach otherwise.” – Chelsie Sanders, Vice President – Human Resource Management Network

When people think of personal development and professional development, some may compare the two areas. Which one is more important? Professional development is personal development. Both are equally important. Both are equally important and you can apply growth in those areas to all aspects of your life.

Professional development allows individuals to enhance their skillset and improve performance in the workplace. Personal development focuses on skills to improve and boost life skills. The most effective and inspiring professionals and leaders are individuals who make personal development a priority and see it as an essential component of their professional excellence. One cannot exist without the other.

Whether it’s personal development or professional development, you don’t need to pick between the two. Personal development plans might have many aspects of professional development, too. Instead of seeing it as personal development vs professional development, consider them two sides of the same coin. You need to carry them both with you.