Laserfiche WebLink
SUBJECT: 2021 BUSINESS RETENTION REPORT <br />DATE: APRIL 22, 2022 PAGE 2 OF 7 <br />new Service Agreement with the Louisville Chamber of Commerce, we will be working <br />cooperatively with them this year to schedule and target some retention visits. As our <br />organizations have different business relationships, staff feels this will benefit all <br />involved and show the collaborative work between the City and business -focused <br />organizations. <br />In 2021, through the Key Performance Indicator (KPI) review process with Novak <br />Consulting, the number of retention visits staff conducts are no longer included in our <br />annual KPI reporting. This is an output vs. outcome measure, and the new KPIs put <br />more emphasis on results achieved than tasks completed. We do continue to track this <br />as a metric, however, to guide work and keep priority focus on retention efforts. It <br />seems unlikely that in the near -term staff will conduct the number of formal visits for <br />which it has capacity. Companies remain overwhelmed by the current environment and <br />are not able to dedicate the time to some of these more formal programs. <br />The table below summarizes the key business retention activities in 2021 as well as <br />some recent history. In addition, there are several charts reflecting summary data about <br />businesses visited. <br />Business Retention Visits <br />2021 <br />16 <br />2020 <br />22 <br />2019 <br />3 <br />Visit Structure <br />Virtual <br />5 <br />In -Person <br />11 <br />In 2021, especially as vaccines became more readily available and capacity restrictions <br />loosened, more businesses were open to in -person visits. The in -person opportunities <br />provide more opportunity to meet staff and better understand the business, but staff will <br />continue to provide both options. The majority of our visits in 2021 were with our service <br />and industrial/manufacturing type businesses. Retailers, including restaurants, were still <br />reeling from the pandemic. And larger employers were anxious to have conversations <br />about remote work, vaccine policies, and workforce needs, which facilitated <br />receptiveness to scheduling visits. <br />Agenda Packet P. 8 <br />