The Foundation of the Columbia Montour Chamber Hires New Foundation Director
The Foundation of the Columbia Montour Chamber has hired Tonya Smith to be their full-time Director. The Foundation has developed programs that focus on workplace wellness, leadership and skills development, and career exploration.
As a 501(c)3 charitable organization and subsidiary of the Chamber, the Foundation is intimately tied to the priorities of the Chamber and its members, while remaining laser-focused on programming which inspires the 21st-century workforce and strengthens the bridge between business, industry, and education.
Learn more about Tonya and her mission and focus for The Foundation below.
About Me: I am a firm believer in the power of faith, family, and community. These pillars have guided me throughout my life, shaping my values and priorities.
Background: Since the age of 19, I have been immersed in the world of business, founding and managing five successful ventures over the years. Alongside my entrepreneurial endeavors, I dedicated 18 years of service to assisting landowners and farmers at the USDA FSA/NRCS, where I honed my expertise in agricultural matters.
Passions: My greatest joy comes from spending quality time with my husband Kirby, our children, and grandchildren. They are the heart of my world, and I cherish every moment we share together.
Mission: I am thrilled to embark on a new chapter in my professional journey as the Columbia Montour Chamber of Commerce Foundation Director, where I will collaborate with educators and employers in Columbia and Montour Counties to foster a vibrant and skilled workforce. By working side by side with these stakeholders, I aim to contribute to the creation of a successful and thriving community for generations to come.
Current Focus: Currently, my focus is on leveraging my experience and expertise to support workforce development initiatives in the Columbia and Montour Counties. I am eager to collaborate with like-minded individuals and organizations to empower our youth and workforce, ensuring a prosperous future for our communities.
Get in Touch: I am passionate about forging meaningful connections and partnerships. If you share my commitment to building a stronger community, I would love to hear from you. Please feel free to reach out to me at 570-784-2522.
Businesses look at their R&D spending as a tax bill sits in the Senate
Source: US Chamber of Commerce
R&D Expensing Uncertainty Puts Jobs and Innovation at Risk
A bill that would restore a trio of key business tax provisions, including the deduction for domestic research and development (R&D) expenses, remains stuck in the Senate.
Why it matters: Delaying action could reduce R&D spending and penalize investment in R&D-intensive industries. The innovations that come from that investment are also at risk.
Details: The Wall Street Journal reports that because of the uncertainty, some companies are reconsidering how much they invest in R&D.
• One manufacturer told the Journal that because of the expired provision, their tax bill is $25 million higher: “So that’s $25 million less that I have to invest back into my business, whether it’s R&D, whether it’s plants and equipment, hiring new people.”
Small business impact: Small businesses spend a much higher percentage of their sales on R&D than larger ones.
• Many have suffered cash flow and liquidity issues because of the expired provision.
• Some small and midsize research-intensive companies have been forced to take out high-interest loans, raise prices, and stop hiring just to survive and pay their taxes.
• John Adams, CFO of Kaddas Enterprises, told the Chamber that if Congress fails to retroactively restore R&D expensing, his company will face an increased tax burden of up to 35% for 2023.
Our take: “Many employers, especially small businesses, have struggled with the unexpected tax bill created by the lapse in these provisions,” Neil Bradley, chief policy officer at the U.S. Chamber of Commerce, told The Washington Post. “Asking employers to wait until the next Congress is effectively asking them to make a loan to the federal government in the hopes that they might get paid back in 2025 or 2026.”
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The Chamber of Commerce of the United States is the world’s largest business organization. Members range from the small businesses and chambers of commerce across the country that support their communities to the leading industry associations and global corporations that innovate and solve for the world’s challenges, to the emerging and fast-growing industries that are shaping the future.
Chamber President Testifies to House Committee on Pro-Business Tax Reform
Bloomsburg, PA - On Thursday, April 11, the Columbia Montour Chamber of Commerce hosted the PA House Republican Policy Committee for the first in a series of hearings on pro-business tax reform. Chris Berleth, Chamber President, testified regarding the impact of the complex and burdensome tax code on the small businesses in the region.
After reiterating the litany of taxes paid directly and indirectly by businesses, Berleth testified, "The culmination of [this] tax burden makes it darn hard for a business to be successful in a rural area. The biggest takeaway that I can implore is that most businesses have to hire professionals to manage the paying of all these taxes on their behalf. If they attempt to manage all this on their own, there's no time left to run their businesses." He further testified that radical proposals at both the federal and state levels are counterintuitive to relocation, expansion, and growth. "Businesses are looking for predictability and consistency, with no surprises. They want the ability to project and clarify upfront on what an investment project's tax commitments will be."
"Recently, Central PA has heard radical ideas that would drastically impact business costs as unpredictable parts of the state budget. Ideas such as the tolling of bridges on Interstate 80, past proposals to tax drivers a per-mile fee in place of a gas tax, and massive increases to the minimum salary threshold for overtime compensation - these policy suggestions give our members pause, especially without the predictability of a slow-rollout and an on-time budget."
Berleth lauded programs like WedNET PA and the EITC, which allow businesses the ability to invest in their employees through reimbursable training or direct their tax-deductible contributions to programs benefiting students. "Over the past three years alone, an estimated 20 businesses have directed EITC contributions of more than $215,000 to student programs in theater, entrepreneurship, career exploration, financial literacy and STEM. We encourage the legislature to expand EITC credits, and make it easier for businesses to enroll in the program for the first time."
Read Chris's written testimony here.
To view the full hearing, including Chris's testimony and the Q&A session, watch below:
Member News April 19, 2024
Freas Farm Winery Opens Satellite location
On April 11th, Freas Farm Winery cut the ribbon on a satellite location in That's Amore Restaurant which is at the corner of Market and Main Streets in Bloomsburg.
Stuart Tank Memorial Association Welcomed Home Lady Lois
On April 14th, Lady Lois drove through the streets of Berwick with two honor guards, a parade led by the Berwick Borough Police and escorted by five fire trucks. A crowd gathered at the Stuart Tank Memorial Association to celebrate the homecoming with fanfare and joyful, patriotic music by the Catawissa Military Band.
B.I.D.A.’s Executive Director Appointed to Pennsylvania Department of Treasury Advisory Council
Berwick Industrial Development Association, Inc. (B.I.D.A.) Executive Director, Kelly O’Brien, has been appointed to the Pennsylvania Department of Treasury’s Advisor Council. Congratulations Kelly!
Bloomsburg Theater ensemble presents Showstoppers: A Broadway Revue
Back again due to popular demand! All new materials for its second presentation, Showstoppers, is a performance not to be missed! May 1-5, 2024 | Tickets on sale now! www.bte.org
Bloomsburg YMCA Healthy Kids Day and the Mini Maker Faire
THIS SATURDAY from 10AM-4PM! Come join the Bloomsburg YMCA for a Healthy Kids Day Mini Market, carnival games, farm vendors and tons of exciting activities and games! And next door at The Bloomsburg Children's Museum's Marker from 10 am to 4pm as well.
Glen Brook Rehabilitation and Healthcare Center Car Show May 19th
Join Glen Brook Rehab at their 2nd Annual Car Show Sunday, May 19th from 11 am-3 pm. They will be having food trucks, music, prizes, craft vendors, and so much more! For any questions, please contact Maria Fazio at (570) 204-8308 or mfazio@glenbrookrhc.com.
Service 1st Federal Credit Union hosting seminar on April 23rd
Individuals with disabilities, along with their families, friends and caretakers, are invited to attend the “Financial Services & You Seminar” beginning at 12:30 pm on Tuesday, April 23, at CSIU Work Foundations+, 911 Greenough Street, Sunbury. Learn more and to register click here. Registration is required.
Sean-Black State Farm insurance Agent Photo contest
Have you entered yet? This year's categories are People, Nature, Places, and Miscellaneous. Limit one entry per category. Submissions must be sent to stephanie@insureberwick.com by May 17 at 8 p.m. to be considered!
Fromm Launches Services Division
Fromm, a 100-year-old distributor of electrical supplies and automation products, announced the launch of FrommConnect, a division that offers engineering, fabrication and labor-saving services to manufacturers and electrical contractors. Learn more.
Wilkes University SBDC's April Updates
- Check out a new video that the Wilkes University SBDC has put out about their services.
- $2,000 Grant Opportunity for Creative Entrepreneurs
- National Small Business Week Virtual Summit
Workshop Series for Nonprofits in Columbia County
As part of the Columbia County Rural Placemaking Innovation Challenge, a series of workshops will be held for nonprofits in May and June. See the flyer for dates and topics, and visit the project website for more descriptions/locations/times. These workshops are free to all Columbia County nonprofit employees, so please share with anyone you think might be interested.
PPL Electric Utilities will plant a Tree for new paperless bill sign up
In celebration of Earth Month this April, for every PPL Electric Utilities customer who signs up for paperless billing during the month, the company will plant a tree through its Community Roots program. Celebrate Earth Day and Arbor Day by making the switch to paperless billing. Learn more.
Central Susquehanna Opportunities hosting two resource fairs
CSO is planning a Resource Fair for both Bloomsburg and Berwick. The Bloomsburg event will be held on Tuesday, May 28th, 9am - 12pm, and the Berwick event on Thursday, May 30th, 11am - 2pm. Please see flyers for more information and coordinator contact information to sign up to participate. CSO is also in the process of gathering information for their community needs assessment. Fill out that survey here. This survey will be open through April 30, 2024.
Bucknell SBDC Announces BizPitch Winners
Bucknell’s 12th annual Shark Tank-style pitch competition on Monday, April 8th showcased students’ new business ideas, ranging from medical devices that provide better comfort for users, innovations in agriculture to help feed the world and innovations in sustainability in consumer products. Learn more about the winners.
Camp Victory Remarkable day of golf
Join Camp Victory for a remarkable day of golf while supporting a great cause! Camp Victory proudly presents its 18th Annual Golf for Victory event. Register Now at: campvictory.org/golf Date: Monday, June 26th, 2024
Bloomsburg Rotary PB & J Drive underway
Now through April 25th the Bloomsburg Rotary is collecting PB & Jelly to be distributed through the Bloomsburg Food Cupboard. Get a list of drop off locations here.
Millville Insurance receives A Rating
AM Best the world's largest credit rating agency focusing on the insurance industry, affirmed Millville Insurance's A (Excellent) rating. Congratulations Millville Insurance!
PA Careerlink Spring Career Fair
The Columbia-Montour Spring Career Fair will be held on Thursday, April 25, 2024. For more details and to learn how to register for space click here.
Servpro of Columbia, Montour & Sullivan Counties offering CE classes
5 CE classes will be offered by Servpro of Columbia, Montour & Sullivan Counties. Get the full schedule.
Renaissance Jamboree April 27th
Renaissance Jamboree will be happening Rain or shine 10 am - 5:00 pm on April 27th at Main and Market Streets in Downtown Bloomsburg. Get all the details here.
United In Recovery Naloxone Distribution Dates
United in Recovery is organizing free community naloxone giveaways. Community members can pick up naloxone kits along with information on substance use disorder treatment, counseling services, peer support, and basic needs assistance. Fentanyl and xylazine testing strips, along with other harm reduction, recovery, and treatment resources, are also available. Get a list of locations and dates here.
Together Health And Wellness Hosting Cold Plunge for a Cause
On May 4th from 9am-1pm, Together Health and Wellness will have a Cold Plunge for a Cause, where half of the proceeds will go to WholeSchool Mindfullness. For more information call 570-238-9080.
BOOM Camps happening
Better Orientation Onboarding & Mentoring (BOOM) Camps will be hosted free and online April - July. Get dates, session topics and to register by clicking here.
38th Annual Spring Fling Happening May 4th
Held the first Saturday in May, Danville's 38th Spring Fling is a celebration of the foods, shopping, and sounds that make it a special place. The all-ages outdoor event features over 200 downtown and area businesses, food trucks, craft vendors selling their handmade wares; activities for the kids, and entertainment on the Canal Park stage. Mark your calendars & don't miss the food, drink, music, arts, shopping and fun in downtown Danville on Saturday, May 4th from 9am-4pm.
Penn College to host Baja SAE Competition in May
Baja SAE challenges engineering students to design and build an off-road vehicle that will survive the severe punishment of rough terrain and in some competitions, water. Penn College will host a Baja SAE international competition, May 16–19, 2024, at the Schneebeli Earth Science Center’s heavy construction equipment operations training site. Learn more about sponsorship opportunities for the BAJA SAE Williamsport and ways to support the team.
3rd Annual Recovery Picnic Happening June 13
Bringing the community together to uplift and support those in recovery and celebrate the dedication of service providers and community members who make recovery in all its forms possible. Learn more and RSVP here.
Save the Date for Agapepalooza
Save the Date for Agapepalooza July 20th, 2024. This is a day of free fun for the whole family with activities, local vendors, and food. Learn more.
Understanding the Complex Role of HR in Today’s Workplace
- HR officers play a crucial, complex role as guardians of corporate values, mediators between employees and employers, and facilitators of discipline and development.
- The role of HR goes beyond enforcing policies; it is critical in shaping company culture, promoting diversity, and managing talent to align the workforce with company goals.
- Successful HR practices balance management's directives with employee needs, enhancing company culture and employee satisfaction, which in turn boosts performance and profits.
- Organizations that underestimate HR’s potential miss out on leveraging a key resource for business success and should invest in strong HR systems and foster collaboration between HR and senior management.
- By recognizing HR’s role in supporting employee welfare and meeting business objectives, companies can create a more resilient and innovative workplace.
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In today's workplace, human resource officers play a crucial but complex role. They are the guardians of corporate values, the go-betweens for employees and employers, and the bringers of both discipline and development. Bearing this responsibility is challenging and often misunderstood, given the many boundaries HR must navigate.
The HR Paradox: Balancing Unity and Division
Many people think HR is just there to enforce management's rules without question. But the reality is more complex. A successful company depends on HR's skill in balancing what the bosses want with taking care of employees' needs. In an interview with Inc., Marc Lore reminds employers that sometimes HR represents their interests, even when it advocates for employee’s sentiments: “The CEO would like to direct [employees] to come in, but what happens if they all quit--or worse, quit and stay.” In other words, if employers get what they want but in turn get disengaged and unproductive employees, the HR officer won’t have truly served the company’s best interest.
Beyond Policy Enforcers: The Evolving Role of HR
The role of Human Resources (HR) has significantly transformed from its traditional focus on enforcing policies and procedures. In the modern workplace, HR has emerged as a central figure in shaping company culture, championing diversity and inclusion, and strategically managing talent. This evolution means that HR professionals are not just administrative enforcers but are pivotal in ensuring that the company’s strategic objectives are in harmony with its operational practices.
Moreover, HR's role in fostering a positive company culture cannot be overstated. They are instrumental in creating an environment where employees feel valued and engaged, which directly contributes to higher productivity and job satisfaction. Through initiatives that promote diversity and inclusion, HR helps to build a more creative and innovative workforce that reflects the diverse world we live in.
In terms of talent management, HR plays a critical role in attracting, developing, and retaining the best talent. They are at the forefront of designing and implementing programs that not only bring in top candidates but also support their growth and development within the company. This includes everything from training and professional development opportunities to performance management systems that reward and motivate employees.
Enhancing the Relationship Between Employers and Employees with Creative HR Solutions
Business leaders who see HR as opponents are missing out on a big opportunity. When given the right support, HR can be the key force driving a company forward. HR can create a positive cycle by supporting fairness, employee growth, and work-life balance: happy employees perform better, boosting the company's profits.
Ignoring HR's potential is not just a strategic mistake; it's wasting a key resource for ongoing business success. Organizations need to do more than just acknowledge HR's important role. They should actively support it by investing in strong HR systems and rethinking how HR and business leaders work together.
Getting HR and senior management to see eye to eye is challenging, yet essential. The key lies in clear communication, solving problems together, and sharing a common goal. This approach turns HR into a valuable ally for CEOs, instead of an area of concern. Forbes contributor, Srikanth Karra CHRO at Mphasis, provides five important ways organizations can bring management and HR together to benefit everyone.
The Takeaway: Creating a Resilient and Innovative Workplace with HR
By shifting the narrative to highlight HR's role in supporting employee welfare and meeting business objectives, we can foster a more resilient and innovative workplace. Recognizing HR as the link between the employer and employees leads to a work environment that’s not just efficient but also fulfilling for everyone involved.
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The Columbia Montour Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike.
Member News April 10, 2024
Town of Bloomsburg Celebrates B.A.R.T
On Saturday, April 6th the Town of Bloomsburg celebrated the Bloomsburg Area Recreational Trail with a day of food trucks, bike rentals, and a ribbon cutting. Congratulations to the Town on the trail.
Wilkes University SBDC's April Updates
- Check out a new video that the Wilkes University SBDC has put out about their services.
- $2,000 Grant Opportunity for Creative Entrepreneurs
- National Small Business Week Virtual Summit
PPL Electric Utilities will plant a Tree for new paperless bill sign up
In celebration of Earth Month this April, for every PPL Electric Utilities customer who signs up for paperless billing during the month, the company will plant a tree through its Community Roots program. Celebrate Earth Day and Arbor Day by making the switch to paperless billing. Learn more.
Bloomsburg Rotary PB & J Drive underway
Now through April 25th the Bloomsburg Rotary is collecting PB & Jelly to be distributed through the Bloomsburg Food Cupboard. Get a list of drop off locations here.
Dine to Donate April 12 for Ronald McDonald House
On April 12 during the Iron Fork's Regular business hours you can Dine to Donate. Present this flyer and a portion of your food purchase will go to the Ronald McDonald House of Danville.
Tanks on the Loose
The Stuart Tank Memorial Association announces the nearing completion of the restoration of "Lady Lois", our M3A1 Stuart Light Tank, with a parade and museum open house on April 14th in Berwick. For more information, contact Tom McLaughlin at tomm3a1@gmail.com.
Upcoming Events from The Women's Center
Check out the monthly calendar of events from the Women's Center.
PA Careerlink Spring Career Fair
The Columbia-Montour Spring Career Fair will be held on Thursday, April 25, 2024. For more details and to learn how to register for space click here.
Stay up to date with Veolia
Want to keep updated on our work in your area? Ensure your phone and email address are up to date in your account on: mywater.veolia.us
They will only notify you about planned and unplanned work in your area if these features are turned on.
Bloomsburg YMCA hosting Healthy Kids Day April 20th
Healthy Kids Day is on April 20th, 2024 and partners with the Bloomsburg Children's Museum Mini Maker Faire. This event will last from 10AM until 4PM. There will be free crafts, activities, games and sports for children and their families to take part in including a mini farm market, skee ball, inflatable soccer, sand art, and more!
Servpro of Columbia, Montour & Sullivan Counties offering CE classes
5 CE classes will be offered by Servpro of Columbia, Montour & Sullivan Counties. Get the full schedule.
Renaissance Jamboree April 27th
Renaissance Jamboree will be happening Rain or shine 10 am - 5:00 pm on April 27th at Main and Market Streets in Downtown Bloomsburg. Get all the details here.
United In Recovery Naloxone Distribution Dates
United in Recovery is organizing free community naloxone giveaways. Community members can pick up naloxone kits along with information on substance use disorder treatment, counseling services, peer support, and basic needs assistance. Fentanyl and xylazine testing strips, along with other harm reduction, recovery, and treatment resources, are also available. Get a list of locations and dates here.
April Weis Center for the Performing Arts Shows
- Jazz Ambassadors of the U.S. Army Field Band will continue its long tradition of presenting free public performances when they appear on Friday, April 12 at 7:30 p.m. at the Weis Center.
- Caña Dulce y Caña Brava from Veracruz, Mexico on Thursday, April 18 at 7:30 p.m. at the Weis Center.
BOOM Camps happening
Better Orientation Onboarding & Mentoring (BOOM) Camps will be hosted free and online April - July. Get dates, session topics and to register by clicking here.
MARC Summer Internship Opportunity
The Montour Area Recreation Commission is seeking an intern for this summer. Check out the position summary. If you know of any college students you believe might be interested in applying for this position, please encourage them to apply before next Friday, April 12, at 5:00pm.
Free NonProfit and Municipality Workshop April 17th
As part of the Columbia County Placemaking Initiative, there will be a free workshop to help nonprofits and municipalities in Columbia County find and prepare competitive state and federal grant applications. The workshop will be in Bloomsburg on Wednesday, April 17 from 1 to 3:30 p.m. Click here to register.
Community Giving Foundation: Danville announces "Neighbor of the Year" award
The Neighbors Helping Neighbors Event Committee and Community Giving Foundation: Danville are pleased to announce the 2024 Robert N. Pursel Award for “Neighbor of the Year”—Bob Stoudt. Bob will receive the award at the upcoming event on April 20th at the Pine Barn Inn. More information about the event is available at csgiving.org/neighbors.
DCDC "Dinner and a Show"
Put two sharp-witted and talented musicians onstage with two grand pianos, and add a roomful of people: The result is an evening of fast, funny, unforgettable entertainment. There will be auction items and other surprises as well in honor of DCDC’s 50th Anniversary, and we hope for you to join us at the Pine Barn Inn for a grand celebration! Check out sponsorship and Tickets on sale now!
Penn College to host Baja SAE Competition in May
Baja SAE challenges engineering students to design and build an off-road vehicle that will survive the severe punishment of rough terrain and in some competitions, water. Penn College will host a Baja SAE international competition, May 16–19, 2024, at the Schneebeli Earth Science Center’s heavy construction equipment operations training site. Learn more about sponsorship opportunities for the BAJA SAE Williamsport and ways to support the team.
3rd Annual Recovery Picnic Happening June 13
Bringing the community together to uplift and support those in recovery and celebrate the dedication of service providers and community members who make recovery in all its forms possible. Learn more and RSVP here.
Save the Date for Agapepalooza
Save the Date for Agapepalooza July 20th, 2024. This is a day of free fun for the whole family with activities, local vendors, and food. Learn more.
New Member Highlight-The Bloomsburg Rotary
Rotary is a global network of community volunteers dedicated to tackling various humanitarian challenges. With a focus on service above self, Rotary clubs engage in projects ranging from local community development to international aid initiatives such as the eradication of Polo. Through its diverse membership and partnerships, Rotary strives to foster goodwill and peace worldwide.
Some of the local projects that the Bloomsburg Rotary has been involved in are their Annual Peanut Butter and Jelly Drive which helps to stock the Bloomsburg Food Cupboard, Highway Clean-up along route 42, hosting an international exchange student, provide a dictionary to every 3rd grader in the Bloomsburg and Central Columbia School districts, scholarships for seniors at Bloomsburg High School and the CMVTS, quarterly participation in the Wesley United Methodist Church's Community Meal, and has given out many grants to local non-profits that serve Bloomsburg.
To learn more about the Bloomsburg Rotary reach out to Helga Loncosky at amrhblmh@gmail.com.
The Power of Introverts at Work
- Introverts bring unique strengths to the workplace, including increased focus, productivity, and deep thinking abilities that stem from their comfort with solitude and their highly active brains, even at rest.
- Despite the perception of extroverts as better leaders due to their assertiveness and social ease, introverts often prove to be superior in leadership roles. Their natural predisposition towards listening, empathy, and forming deep connections is highly valued and, in fact, impressed investors the most in a study involving over 900 CEOs.
- For introverts to thrive in the workplace, an environment that respects their need for solitude and flexible communication styles is crucial. Spaces for quiet reflection, allowing written communication, and providing time for thoughtful responses can help introverts stand out and contribute their best ideas.
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Are you an extrovert? An introvert?
While this question may seem highly personal, your answer provides clues about how you lead, work in teams and engage with others. For years, many have believed that extroverts have the edge in the workplace. After all, extroverted individuals appear more outgoing, talkative and energetic, while introverts seem more reserved, reflective and less social. However, psychologists have been looking more closely at this preconception and theorizing that the introvert’s quiet way may just be a misunderstood superpower.
The Added Brain Power of Introverts
So, what are introverts doing while they are quiet? They’re thinking. Introverts, known for their intuition and powers of perception, have also been shown to have thicker gray matter than extroverts. Gray matter makes up 40% of the human brain and is associated with a person’s ability to process information, learn, think and reason. Other studies have shown that even while resting, introverted brains are more active.
Work often requires individuals to put in hours of solitary work, which can be tough on extroverts who find energy in the company of others. Introverts, on the other hand, have a life-long discipline of spending time alone and may surpass their extroverted peers in focus and productivity, according to neuroscientist Friederike Fabritius.
Introversion and Leadership
Perhaps it’s not surprising that introverts are more focused and productive at work. But what about the work of leading others or building client-facing relationships?
This question is the focus of a Harvard Business Review article called “Can Introverts Thrive in Extraverted Careers?” Karl Moore and William Li, the article’s authors, found that while introverts need to develop skills around certain social behaviors like speaking up and meeting new people, their natural strengths in listening, empathy and the ability to make deep connections are valuable assets that make introverts especially effective at work.
Although we often find assertive extroverts impressive, Moore and Li report that you don’t need a big personality to make a positive impression. In a study of more than 900 CEOs, it was the introverted personalities that impressed investors most. While extroverts land high-paying jobs at a rate of 25% higher than introverts, introverts are often considered the better leaders, according to Moore and Li.
Introverts Perform Best at Work When Expectations Are Flexible
While it may seem anti-social, it’s both normal and positive for people to spend breaks and lunches alone. Since introverts often feel drained after social activity, alone time allows them to recharge—which is good for them and everyone else.
Introverts may also thrive when given the option to communicate in writing instead of in person or on the phone. This practice is also true for giving introverts more time to think through questions and respond later in follow-ups. Some experts even suggest that group brainstorming is an outdated exercise because an introvert's best ideas may show up with reflection not in chaotic group settings. And since introverts are known for their keen observational and analytical skills, teams should do what they can to ensure they don’t miss their prized ideas.
When it comes to hiring, recruiters encourage employers to look out for introverted types who may not be as loud as their extroverted counterparts. By ensuring a quiet, private space, planning extra questions and allowing for silence, hiring managers can ensure that high-quality introverts have the time and place to shine.
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The Columbia Montour Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike.
Reach Chamber Members with May ChamberPack!
Reach 430 of your business peers!
ChamberPack will be sent the week of May 6th.
Take this opportunity to showcase your business to the entire chamber network by submitting your flyers for inclusion in our upcoming bi-monthly direct mail piece.
Gain visibility and reach by sharing your promotions, events, or services directly with our engaged community of fellow members. Don't miss this exclusive opportunity to stand out and connect with a wide audience of local businesses.
Submit your flyers by April 22nd to be featured in ChamberPack.
Call the Chamber at 570-784-2522 to reserve your space OR click here for more information OR email Taryn, Director of Member Engagement at tcrayton@columbiamontourchamber.com
Cash Management to Improve Your Bottom Line
Source: Dan Sturm, McKonly & Asbury
Cash management manages the inflows and outflows of cash in a business and is particularly important for construction contractors. Long payment cycles, unpredictable expenses, and fluctuating demand all emphasize the need for cash management. A solid cash management strategy and process can help with long-term sustainability and help drive additional income straight to your bottom line, especially in today’s interest rate environment. With guidance from your financial advisor, excess cash can also be invested, creating additional cash flow and income.
Poor cash management can affect the ability to grow, obtain new contracts, pay suppliers, employees, and taxes, and ultimately result in negative net income. There are many strategies that you can implement to improve cash management. Improving cash management is a long-term project requiring intentional strategy and focus. We have outlined a few cash management strategies below for your consideration. While not an all-inclusive list, we’ve observed these strategies contribute to the success of many contractors.
Cash Management Strategies
Plan ahead. One of the most important steps in cash management is to create a realistic cash flow forecast that projects the expected cash inflows and outflows for a given period. This can help you anticipate and prepare for cash shortages or surpluses, and to adjust spending and borrowing accordingly. A cash flow forecast should be updated regularly and based on accurate data from past and current projects, as well as market trends and customer behavior.
We should emphasize that projections and forecasts apply to more than the business as a whole. This same strategy can and should be applied to capital equipment purchases. Construction equipment is a major expense for most construction companies. Forecasting cash flows prior to equipment purchases will support your decision-making process. Cash inflow from new equipment should exceed the cash outflow for debt and all other costs associated with the equipment.
Contract payment terms. Contract payment terms are as important as ever, particularly in today’s environment with fluctuating material prices and rising costs. Frontloading payments on contracts can provide significant benefits to your cash management process. This allows you to work on your customers’ dollars, versus your own, for mobilization and other job start-up costs. These costs can be significant. Frontloading payments may create a liability on your balance sheet, however, it’s a much better option than using your line of credit or other debt, which only adds to the cost of business. For contracts that are significant in duration, you may have an opportunity to hold excess cash in short-term investments, driving additional investment income to your bottom line.
Invoice and collect promptly. Another way to improve cash management is to ensure that invoices are sent to customers (and collected) as soon as possible and that they are clear and accurate. While this seems like a basic strategy, it is not uncommon for us to see significant job costs build on a balance sheet. Monitoring unbilled job costs is critical to cash management, particularly on time and materials projects. You’ve incurred the cost and have a right to payment. Sitting on these unbilled costs may be costing you interest income, or even worse, costing you interest expense on your line of credit. An accounts receivable process that demands accountability of your project managers, or others responsible for billing closes the loop on this process. In the words of Peter Drucker, “what gets measured, gets managed.”
Manage expenses and inventory. Controlling expenses and inventory of the business is probably the “go-to” item to manage cash. While critical, it’s just one piece of the overall strategy. Contractors should review their expenses regularly and identify areas where they can reduce costs or negotiate better terms with suppliers. You should also monitor inventory levels and avoid overstocking or understocking materials and equipment, which can tie up cash and increase storage and maintenance costs.
Incentivize ALL employees. Creating an incentive plan for all employees can provide a tremendous boost to a cash management strategy. Ask yourself how are my employees motivated to serve our clients with excellence, drive additional billings, collect cash, and control spending. Does the person answering your phone know they have a direct impact on the experience of your customers? Customer experience has a direct impact on your ability to set fees and get paid. You may have an opportunity to redesign current incentive plans to help drive forward a new strategy and mindset where everyone contributes and benefits. One idea is creating cash collection goals and rewarding employees for exceeding those goals. A well-designed incentive plan gives all employees an opportunity and motivation to contribute to your strategy.
Education. Last, but not least, the education of your entire organization can have a significant impact on your cash collections, top line revenue and net income. Often, your team may focus on areas specific to their job and lose sight of the big picture. For example, project managers are very aware of budgets and costs impacting jobs they are charged with managing. But are those same project managers aware of all the costs it takes to run your business? We have observed some clients apply administrative fees to each job that cover the general and administrative costs of running the business. It allows the project manager to see that a gross margin of 10% can quickly decrease to 7% or less. Applying an administrative cost to each job may influence contract bid estimates and overall behavior in spending. Especially, if these same project managers receive bonuses based on the bottom-line results. Educating everyone about the business can make a difference, sometimes immediate.
The Bottom Line
Cash management is a vital skill for construction contractors, as it can impact net income and success in a competitive construction industry. By planning, setting appropriate payment terms, invoicing, collecting receivables promptly, managing expenses and inventory, incentivizing employees, and educating your team, contractors can improve their cash management and improve their bottom line.
McKonly & Asbury has served the construction industry for nearly 50 years. We have a dedicated construction team that is here to help you with your accounting and tax needs, along with all the areas outlined above.
About the Author:
Dan is a Partner and the Director of our Architecture, Engineering, and Construction (AEC) Practice, serving clients across the Mid-Atlantic. His industry focus includes construction, employee benefit plans, federal acquisition regulation indirect cost audits, and insurance.