Page 12 - BusinessWest November 10, 2021
P. 12
Editorial
ELet’s Buy Local This Year
veryone wants to buy great gifts. But what about building U.S. Department of Labor, independent retailers return more than a great economy? three times as much money per dollar of sales to the community in
While it’s only one part of a healthy local economic eco- which they operate than chain competitors. And independent res-
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system, the idea of buying local has been gaining traction lately, even at a time when online sales show no sign of flagging in popularity.
We’re not deluded enough to think we can slow the march of Amazon, and we get the importance of convenience.
But why not do both? Sure, there may be some gifts especially well-suited to an online order, for reasons of availability and espe- cially price. But why not check out the abundance of locally owned retail shops, artisans, and restaurants — people love gift cards, after all — when rounding out that shopping list?
Local shops are where you’ll find unique wares you can’t find anywhere else — the sort of special gifts that make an impact and create memories. And, as noted in our story on page 31, every $100 spent in a local shop returns $69 to the local economy. Local busi- nesses are more likely to utilize other local businesses, such as banks, service providers, and farms, and the cycle continues. And in today’s uncertain economic climate, they count on your busi- ness to survive and thrive.
Meanwhile, according to the U.S. Small Business Assoc. and the
Opinion
taurants return more than twice that of national restaurant chains. Local businesses are also more accountable to their local commu- nities and donate more money to nonprofits.
Finally, supporting local businesses is good for the environment because they often have a smaller carbon footprint than larger companies, and goods don’t have to be shipped across the country or the world. And let’s not even talk about those supply-chain woes.
It isn’t always the most convenient option to drive to an inde- pendent business rather than visiting a large chain down the road — or clicking a keyboard and having Amazon deliver right to your house. But so, so often, it’s the right option.
As Bill Cole, president of Living Local 413, notes, “the world and our country are evolving fast, and we need to adapt to new chal- lenges. Over the past years and decades, we have learned that we cannot rely on powerful outside forces, be they public or private, to bring vitality to our home. If we want to maintain and develop the community that we love, it is our responsibility to act and put our money where our mouths are.”
The holiday season would be a good time to start. v
Build a Thriving Company Culture
By Allison Ebner
Iread an article recently about Sara Blakely, the founder of Spanx, who started the business with about
$5,000. The recent acquisition of Spanx by Blackstone now positions the com- pany’s value at about $1.2 billion — a staggering transformation. To reward her employees for helping her create this amazing company, Blakely gave each of her 500 employees two first-class airline tickets to a destination of their choice and $10,000 in spending money for their trip.
So how did a woman with barely any means accomplish this phenomenal busi- ness venture? There are quite a few strate- gies and decisions that contributed to her success, but one of the biggest things that stood out to me was the message I saw on the careers page on its website. Here it is, in part:
“We are a high-growth, digital com- pany with an iconic brand that earned its reputation for over 20 years by delivering amazing products and staying true to our greater mission of supporting and elevating women. We don’t believe ‘pain is beauty,’ and we don’t believe ‘business is war.’ We run our business with kindness, empathy, intuition, creativity, integrity ... and fun. We don’t believe you have to act serious to be taken seriously. We dream big, think for- ward, and give back. We challenge the sta- tus quo, aim high, and celebrate our ‘oops’ moments. We test and learn and we aren’t afraid of failure. We think like entrepre- neurs in everything we do, and we look for
people who are self-starters, kind, creative, and out-of-the box-thinkers. If this sounds like you, join us! And help us make the world a better place ... one butt at a time.”
Spanx has an excellent track record of being an employer of choice with great retention numbers and pathways for advancement across the organization. So, what helps them drive a robust and engag- ing company culture? They follow some of the same principles that many other suc- cessful organizations employ to create a great employee experience:
• Build trust. In fact, start with trust and go from there. Don’t make new employees earn trust. Start from a place where they have your trust, and manage the relation- ship from there.
• Empower your employees to make decisions. Don’t create a culture of micro- managing. Allow team members to make decisions, collaborate, and generate new ideas.
• Set clear, transparent goals. Your employees need to know the big picture and their role in that path to success. Work with them to set clear goals and expecta- tions. Train your managers to have coach- ing conversations regularly, not just once a year at their annual performance review. Set goals, coach, redirect, and repeat.
• Show appreciation — especially now. If your company has successfully navigated this pandemic, at least some of that suc- cess is due to the work and dedication of your staff. Be sure to say ‘thank you’ and celebrate the wins with your entire team.
• Invest in their well-being. A pay- check is great, but you have to do more. Take a genuine interest in your people. Offer wellness resources and train man- agers and leaders to show empathy with accountability.
• Allow freedom to make mistakes. Don’t punish the team for failures. Bold moves lead to big successes. If your team is afraid of making mistakes, you’ll miss the big moments of greatness.
Not sure where your company stands on the journey to create a thriving company culture? That’s OK. Grab your leadership team and review the key elements of a suc- cessful strategy listed above. You may also want to consider asking your employees
for their feedback through an employee- engagement survey. Whether your com- pany is trying to improve communication between individuals and teams, gauge morale after a merger or downsizing, or obtain feedback on programs and poli- cies, a customized employee-engagement survey gathers employee feedback via a core set of questions, options for narra- tive responses, and special areas of focus. Results typically come with a detailed anal- ysis of results, management debriefs, and a clear action plan that will help you address some of your biggest areas for improve- ment. v
Allison Ebner is director of member services at the Employers Assoc. of the NorthEast; [email protected]. This article first appeared on EANE’s blog.
12 NOVEMBER 10, 2021
OPINION
BusinessWest