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Hiring Right – Office Perks Fade, Attention to Personnel Doesn’t

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6 years ago

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With today’s low unemployment rate and skilled employees in high demand, it’s difficult to attract and retain outstanding employees at almost any level and of any age.

It’s especially difficult finding and keeping those who represent the largest segment of the workforce–millennials.

Part of the problem is that potential employees have a pretty clear insight into the organization’s inner workings, even before they apply for a job.

Sites like Glassdoor and Vault publish unvarnished, anonymous views on the nature of the company’s work, its policies, benefits, culture and management style/management team. They deliver the bare facts about the inner workings of the company from people who know … insiders.

True, a few firms seem to dominate the struggle for talent, seemingly snapping up the best and brightest; but even they find it tough to keep those folks with the greatest potential.

In, Out – Today’s Millennials express little loyalty to their current employers and many are planning near-term exits, even as they are hired.  One of the keys to retention is that most young professionals choose organizations that share their personal values.

According to the Bureau of Labor Statistics, in 2014, the median tenure for workers age 25 to 34 years in the U.S. was just over three years.

Senior executives know that 60 – 80 percent of the organization’s inventory leaves through the front door every evening.

Every time part of that inventory doesn’t return; it costs to replace the individual.

Since no one has unlimited staffing budgets, employee retention is the best way to keep your largest cost under control.

To keep this crop of young workers and hopefully blunt the desire for talent to bolt for the door at the first sight of a bigger, better “opportunity,” companies pile perk on top of perk.

It’s their way of showing folks that they really do have a laid-back, super-cool corporate culture and a comfortable environment that makes them feel at home.

They offer things like beanbag chairs, ping pong tables, unlimited vacation, dogs/kids at work, free food/laundry … things that even mom/dad never gave them.

Perks – Depending on who you ask, company perks are either for both talent acquisition and retention strategies, or simply a nice bonus.  While they may get people in the door, the novelty wears off when you consider more vital considerations like training, opportunities for advancement, office culture and salary.  

All of the benefits are like consolation prizes for lower salaries and more importantly dull, unstimulating work.

Even though recruiters may be only slightly older than the potential employees, Nielsen’s global reputation study found that graduating professionals had “slightly” different views on what their future career would hold for them.

Nielsen reported that they expect to glide up the corporate ladder, they place a higher priority on engaging in fulfilling work and have a much shorter attention span than prior generations.

Once the shine of the perks loses their luster and they realize their expectations won’t be met, they begin to look.

According to Deloitte, Millennials have little loyalty to their current employers and many have planned near-term exits; even though they have only been with their present employer a short time.

They want to/expect to be developed as leaders.

In other words, they put their personal values ahead of the firm’s goals and will often avoid those jobs (and employers) that they feel conflict with their beliefs.

Steve Jobs advised Stanford graduates years ago, “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.”

While Millennials are hired to do a business specific job, they feel business ethics and being socially responsible should be a higher priority for their firms than quality, service and competitive positioning.

Business ethics and their personal value in the marketplace were even more important to them than factors such as workforce diversity, work-life balance and work responsibilities.

The Deloitte study reported that only 28 percent of Millennials feel their organization is making full use of their skills.

Nap pods, trendy offices and Red Bull may attract today’s Millennials, but its benefits they can quantify like paid time off, flexible working from home, health insurance, sick/well days, performance bonuses and company-matched 401k plans that they ultimately find of greater value.   

There’s a perception that millennials would rather work/play in a cool office than get a paycheck.

However, compensation is consistently high when it comes to employee satisfaction, especially for millennials who graduate with an average of more than $35,000 in debt.

Face it, a foosball table and eye candy perks are a lot cheaper than equitable pay and tangible benefits.

In their struggle to retain Millennials, a growing number of firms are addressing the post-college debt issue even though it does come with realistic – from management’s perspective – strings such as extended employment contracts.

Factors that are consistently more important for Millennials are who you are working for, what you’re working on and if it is in your field of interest.

Nothing beats being well paid for working on interesting challenges at a successful company.  However, the primary motivation for job hunting is seldom just a bigger paycheck.

As Amazon’s Jeff Bezos noted, “Life’s too short to hang out with people who aren’t resourceful.”

There are low-cost activities management can carry out to retain the talent it wants to keep beyond unproductive perks.

Motivating – While free food and nap cocoons may seem great when someone considers a job; what they really want is personal recognition, support and knowing they are having a positive effect on the company’s growth and success.

Flex Time, Telecommuting

Increasingly, executives are realizing that offering flexible hours and telecommuting are the most cost-effective ways to hire new good people and retain present personnel.  The combination of flex time and flex place are inexpensive and convenient.

More than 60 percent of the nation’s firms have increased the number of telecommuters over the past two years.

According to AT&T’s National Survey of Teleworker Attitudes and Work Styles:

–        60+ percent of the respondents felt telecommuting was positive for their careers

–        62 percent found no difference in working at home

–        15 percent felt more connected to their workgroups

–        71 percent were more satisfied with their jobs after they began working at home

Many firms find that Internet-connected staff members are not only more productive when they work off-site but they actually put in longer hours.

Praise

It may sound simplistic with today’s reduced staffs, increased workload and compressed time schedules, but it’s easy to forget compliments.

While some folks are self-reliant and self-assured, it’s amazing what a few well-chosen words can do.  People want to/need to know their efforts for the company are recognized and appreciated.

Members of the team taking on projects/activities for the first time find positive recognition helps them grow personally and professionally.

And the cost is … zero!

Small Gifts, Rewards

Small, impromptu gifts such as sporting event tickets, free meals, theater tickets and on-the-spot cash awards of $25 – $50 are ways for mangers to recognize an individual’s accomplishments or contributions to the organization.

The tickets or dinner aren’t important to professional staff members won’t keep them from taking a better job offer.  However, receiving the recognition in front of their peers will build team and organization loyalty.

Mentoring

Firms spend hundreds of thousands, even millions of dollars each year on formal training programs.  For some skill sets, formal training is a must.

However, many find it is not only cost-efficient but also more effective to have employees teach/assist each other.

The firm’s most valuable resource (people) leverage their experience, capabilities and technical/work expertise.   Mentoring allows seasoned professionals to share not only theory but also “real world” experience, helping both the trainer and trainee.

The trainer gains recognition for his or her technical or business expertise.  The trainee gains insights into practical applications and knowledge.  

Team Protection – There is nothing worse for employees than knowing that the boss will not protect them when projects go awry.  One of the key functions for management is to solve the situation, then sit down internally and discuss what went wrong and how it can be avoided in the future.

Shield people

One of management’s most important jobs is to manage and control the interaction between customers and employees.   They should be the lightning rod that shields others in the team so they can focus on their work.

Today’s business is an inexact science at best. Occasionally things will go South despite the best plans and individual efforts.  When it happens, it’s the manager’s responsibility to not only defend staff personnel but also take the heat.

Once the problem is solved/resolved, they can discuss how the situation could have been handled or corrected so it is avoided in the future.

Supportive Culture

Recognizing birthdays, anniversaries and special occasions as well as impromptu parties for the completion of a major project are cultural activities that say “you’re important” and “you matter.”

Little things build big loyalty

When the big offers come, they will make people consider a move.  But attention to the team – established and new members – can keep people from looking for a new job or cut off overtures at the outset.

Paying attention to your most valuable resource will help you keep from continually hiring and training new people.

In addition, it can ensure the best defense/offense in a tough market.

Then your competition will view your company as Themistocales of Athens and say, “These men are fierce, savage, bloodthirsty, merciless. But that is not the reason why we should fear them. That is not the source of their power. Their power lies in their unity. Unity!”

Andy Marken
Marken Communications
www.markencom.com
1428 Bellingham Way
Sunnyvale, CA 94087
USA
O: (408) 986-0100
C: (408) 390-0002
Andy@MarkenCom.com

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Businessuite Women

Who is Safia Cooper?: Steering Pulse Investments into a New Era

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2 months ago

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April 20, 2025

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In the wake of her father Kingsley Cooper’s passing in June 2024, Safia Cooper has stepped into the role of Managing Director of Pulse Investments Limited, a company listed on the main market of the Jamaica Stock Exchange. With a rich background in marketing and a deep connection to the company’s legacy, Safia is poised to lead Pulse into its next chapter.

A Legacy Continued
Safia’s journey with Pulse began in earnest in 2012 when she joined as Director of Sales and Marketing. Her prior experience included managerial roles at Red Stripe Jamaica and Diageo Brazil, where she honed her skills in brand management and strategic marketing. She holds a BSc in International Relations from the University of the West Indies and an MBA from Nova Southeastern University.
In 2016, Safia was appointed CEO of Pulse, marking a significant step in the planned succession from her father . Her leadership has been characterized by a focus on expanding Pulse’s hospitality and leisure segments, including overseeing events like Caribbean Fashion week and the Caribbean Model Search Finals.

Navigating Challenges
The transition in leadership coincided with a challenging financial period for Pulse. The company’s revenue for the financial year ending June 2024 was $815.9 million, down 14% from the previous year. Net profits also declined to $543 million from $1.43 billion in 2023, impacted by impairments and restated financials.
Despite these hurdles, Safia has demonstrated resilience and a commitment to transparency. She acknowledged the financial challenges, noting the company’s efforts to address asset impairments and focus on recoverability of credits, particularly from media houses with reduced activity.

Vision for the Future
Under Safia’s leadership, Pulse continues to emphasize its core areas: fashion, media, and real estate. The company is advancing projects like Pulse Homes, a 30-unit eco-friendly residential development in Stony Hill, aimed at high-net-worth clients . Additionally, Pulse maintains a diverse portfolio, including model agency representation, show production, and property rentals.
Safia’s approach blends respect for the company’s storied history with a forward-looking strategy. Her tenure is marked by a dedication to innovation, strategic growth, and honouring the legacy established by her father. As Pulse navigates the evolving landscape of the creative industries, Safia’s leadership is central to its continued success.

In summary, Safia Cooper embodies the fusion of tradition and innovation, guiding Pulse Investments with a vision that honours its past while embracing the future.

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Corporate Movements: Margaret Campbell Appointed CEO of GKMS Group; Lee-Anne Bruce Named COO

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3 months ago

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March 5, 2025

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GraceKennedy Limited (GK) is pleased to announce leadership changes at GraceKennedy Money Services (GKMS) as part of its ongoing succession plan and strategic talent development and deployment.

Effective April 1, 2025, Margaret Campbell will assume the role of Chief Executive Officer (CEO) of the GKMS Group. Campbell, who has worked with GKMS for over 25 years, has served as its Chief Operating Officer (COO) since 2020. She joined GKMS in 1996 and has held several leadership roles during her tenure including, Financial Controller, Chief Financial Officer (CFO), and Country Manager for GKMS Jamaica. A Fellow Certified Chartered Accountant, Campbell also holds an MBA in Finance from the University of Manchester and serves on several GK subsidiary boards. She is also the current President of the Jamaica Money Remitters Association.

Frank James, Group CEO of GraceKennedy, expressed confidence in Campbell’s leadership, stating, “Margaret has demonstrated strong leadership and an unwavering commitment to providing exceptional value and convenience to our customers across Jamaica and the wider Caribbean, in keeping with our vision of being the number one Caribbean brand in the world. I have no doubt she will continue to drive GKMS forward.”

Grace Burnett, CEO of GKFG, added, “Margaret’s industry expertise and strategic approach make her the ideal person to lead GKMS into the future. Her experience and passion for operational excellence will be instrumental as GKFG continues to grow and evolve.” The announcement of Campbell’s appointment comes as Burnett, who has led GKMS since 2019, prepares to retire from GraceKennedy later this year.

Lee-Anne Bruce

Additionally, GraceKennedy has named Lee-Anne Bruce as the new COO of the GKMS Group, also effective April 1, 2025. Bruce holds a bachelor’s degree from the Frank G. Zarb School of Business at Hofstra University and is a Certified Anti-Money Laundering Specialist. With over a decade in senior leadership roles at GK, she has served as Group Chief Compliance Officer, Chief Risk Officer, and most recently, Chief Audit Executive. She began her career at GK in 2003, when she played a key role in GKMS’ expansion into the Eastern Caribbean.

Margaret Campbell, incoming GKMS CEO, welcomed Bruce’s appointment, stating, “Lee-Anne is no stranger to GKMS and her extensive experience and understanding of our business will undoubtedly be invaluable in her new role.”

In light of the leadership changes at GKMS, Judith Chung, Group Chief Compliance Officer & Senior Legal Counsel, will act as Chief Audit Executive of GraceKennedy Limited, while Jason Bailey, Head of Risk, will temporarily assume responsibility for the Compliance portfolio.

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Businessuite Women

GraceKennedy Limited (GK) Announces Additional Leadership Changes

These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity.

Published

4 months ago

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February 11, 2025

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GraceKennedy Limited (GK) has announced key leadership changes set to take effect in 2025 as part of the Company’s succession plan.

Effective February 14, 2025, Andrea Coy will assume the role of CEO of GraceKennedy Foods, a move which will see the integration of the domestic and international segments of GK’s food division under a single leadership structure.

Since joining GraceKennedy in 2005 as Hi-Lo’s Financial Controller, Coy has held several key leadership roles within GK, including General Manager of Hi-Lo Food Stores and World Brands Services, CEO of Hardware & Lumber, Senior General Manager of the GK Foods Global Category Management Unit, and CEO of GK Foods Domestic. She has led GK’s international food operations since 2018 and is a member of the GK Executive Committee. Under her leadership, both GK’s domestic and international food businesses recorded significant growth in revenues and profitability. Coy holds degrees in Accounting from the University of the West Indies and is a member of the Institute of Chartered Accountants of Jamaica. She specializes in Turnaround Management and has completed advanced studies in the field at Harvard Business School. She serves on the Board of the Bank of Jamaica.

Later this year, following a distinguished 25-year career at GK, Grace Burnett will retire as CEO of the GraceKennedy Financial Group (GKFG), effective August 14, 2025. Upon her retirement, Steven Whittingham, the current Deputy CEO of GKFG, will step into the role of CEO, ensuring a seamless transition in leadership.

Grace Burnett

Burnett joined GK in 2000 and has held several key leadership roles within the Group. She previously served as Managing Director of GK General Insurance and Allied Insurance Brokers, where she led strategic operations for GK’s insurance business. From 2014 to 2019, she was the CEO of GK’s Insurance Segment, driving growth and innovation in the sector. An attorney-at-law, she has been the CEO of GKFG since 2016 and holds the position of the President & CEO of GraceKennedy Money Services. She is also a member of the GK Executive Committee. Well-known for her expertise in customer service, operations, and talent development, Burnett has earned accolades both within GK and externally. Her outstanding contributions to the insurance industry and exemplary leadership were formally recognised in 2024 when she received the prestigious Insurance Association of Jamaica Leadership Excellence Award.

Steven Whittingham

Whittingham joined GK in 2013 and has been Deputy CEO of GKFG since 2022, overseeing the Group’s Insurance Segment, merchant banking, and investment portfolios. He is a member of the GK Executive Committee and leads GK’s digital transformation. He has held various leadership roles within GK, including Chief Investment Officer of GraceKennedy Limited, Chief Operating Officer of GKFG, President of First Global Financial Services and Managing Director of GK Capital Management. During his tenure he has been instrumental in driving GK’s expansion through strategic mergers, acquisitions, and greenfield startups, consistently delivering impressive growth across portfolios. Whittingham holds dual degrees in Systems Engineering and Economics from the University of Pennsylvania and an MBA from Harvard Business School. In 2024 he was appointed Chairman of the Jamaica Stock Exchange, and he has served on several public and private sector boards.

These announcements come as GK prepares for another major leadership transition later this week. Last month, the Company confirmed that Group CEO, the Honourable Don Wehby, CD, OJ, will retire on February 14, 2025, stepping down from the Board of Directors after a distinguished tenure.

He will be succeeded by Frank James, current CEO of GK Foods Domestic and former Group CFO. GraceKennedy remains steadfast in its commitment to executing its strategy and ensuring excellence across all its operations.

These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity. As the GK team strives to achieve its vision of becoming the number one Caribbean brand in the world, these appointments will provide continuity and strategically position GraceKennedy for sustained growth and innovation in the years ahead.

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The Rise of Female-Led Companies in the Caribbean: Driving Business Success and Breaking Barriers

Published

4 months ago

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January 26, 2025

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The corporate landscape in the Caribbean is experiencing a transformative shift as more women assume leadership roles, enhancing company performance and fostering diverse, inclusive work cultures. This trend is not only contributing to breaking the corporate glass ceiling but is also producing measurable business success. Studies reveal that female-led companies tend to outperform their male-led counterparts, benefiting from unique perspectives and leadership approaches that drive innovation and resilience.

One such example is Audrey Tugwell Henry, President and CEO of Scotia Group Jamaica Limited, who has championed initiatives supporting women-led businesses through programs like the Scotiabank Women Initiative in Jamaica. This initiative aids women entrepreneurs and business owners with access to financial resources, networking, and mentorship, crucial for enabling their businesses to thrive. Under Henry’s leadership, Scotiabank has established the Caribbean Inclusion Council, focusing on fostering diversity and supporting the advancement of female professionals across the region. Henry’s involvement in the Scotiabank Caribbean Network’s Mentorship Program also highlights her commitment to nurturing future leaders, reinforcing a culture where female professionals are equipped to break through barriers in corporate leadership.

 

Melanie Subratie, Chairman and CEO of Stanley Motta Limited, has also made strides by assembling the Caribbean’s first all-female board of directors, a move that exemplifies female empowerment in the region. This leadership model helps to combat stereotypes and serve as a beacon for other companies.

A recent S&P Global study corroborates the advantages of female leadership, finding that companies led by women experience greater stock price appreciation and improved profitability. This impact is not isolated to the Caribbean; internationally, firms with gender-diverse boards and executives often see benefits like better financial returns and more robust decision-making, attributed to the inclusive perspectives women bring.

The broader Caribbean is seeing more female executives shaping policies that foster inclusivity and drive long-term business success. For example, across the Caribbean, there has been an increase in programs and policies that promote gender equality on boards, a trend aligned with research by the World Economic Forum indicating that companies with a greater share of female leaders tend to outperform their peers in productivity and innovation. As these leaders pave the way for upcoming generations, they provide valuable mentorship, reinforcing a sustainable talent pipeline that will likely benefit the Caribbean’s economic and social development.

With the region’s growing emphasis on female representation, Caribbean businesses are well-positioned to leverage the diverse insights women leaders bring. This shift holds promise for not only driving business growth but also creating a legacy of equality and opportunity in the region’s corporate framework.

Businessuite Highlights A Few Of These Female Business Leaders Driving Business Success And Breaking Barriers

Melanie Subratie: Visionary Leadership at Stanley Motta Limited

As the Chairman and CEO of Stanley Motta Limited, Melanie Subratie has driven a unique transformation in commercial real estate, spearheading growth that emphasizes technological advancement and sustainable infrastructure. Melanie’s leadership portfolio spans various sectors, holding high-level roles across numerous companies, including Musson (Jamaica) Limited, Seprod Limited, and PBS Group. Her guidance has established Stanley Motta as a key player in business process outsourcing (BPO) with 58 HWT, one of the Caribbean’s largest technology parks.

Stanley Motta’s recent performance reflects her strategic vision: the company reported a 95.8% increase in Net Operating Income, reaching J$1.86 billion, and total comprehensive income rose by 111.2% to J$1.77 billion. Shareholder equity grew 26% to J$7.66 billion, and the market capitalization stood strong at J$4.08 billion at the end of 2023. This robust financial position signals the company’s ongoing success and its potential for further expansion under Subratie’s direction. Moreover, with an all-female board that includes experts like Blondell Walker and Sandra Glasgow, Stanley Motta is a trailblazer in championing gender diversity in corporate leadership.

Anya Schnoor and Audrey Tugwell Henry: Strengthening Scotia Group Jamaica Limited

Anya Schnoor, Chair of the Board of Directors, and Audrey Tugwell Henry, President and CEO, are redefining leadership at Scotia Group Jamaica Limited (SGJL). With over three decades in the financial sector, Schnoor’s strategic vision has been essential in aligning SGJL with global standards, positioning it as a premier financial institution in the Caribbean. Tugwell Henry, with a strong focus on empowering women, spearheaded the Scotiabank Women Initiative, providing crucial support for women-led businesses.

Under their leadership, SGJL’s financial results for the year ending October 31, 2023, are impressive. Net income rose by 67% to J$17.2 billion, a testament to their operational efficiency and risk management. SGJL continues to invest in digital innovations, with initiatives such as the improved Online Banking platform and Q-Flow automated queuing system, enhancing customer experience. With a productivity ratio of 49.81% and a Return on Equity of 15.15%, SGJL’s commitment to shareholder value and operational excellence is evident. The recent launch of Scotia Protect, a digital-first insurance subsidiary, marks a new chapter for SGJL, aligning with the bank’s strategy to diversify services and deepen its market reach.

Daniela Bucaro and Ginelle Lambie: Navigating Growth at Unilever Caribbean

Daniela Bucaro

At Unilever Caribbean, Daniela Bucaro, Chair, and Ginelle Lambie, Managing Director (Ag.), are leading an ambitious shift towards profitable growth amidst challenging market conditions. Bucaro, a marketing expert, and Lambie, a seasoned finance professional, bring a balanced leadership approach that addresses both consumer insights and financial resilience. Under their stewardship, Unilever Caribbean has focused on expanding its Beauty and Personal Care line, which now accounts for 52.6% of total revenue—a significant increase from 39.8% in the previous year.

Ginelle Lambie:

Despite a 20.1% decline in revenue due to economic pressures, Unilever Caribbean achieved a 393.5% increase in Profit Before Tax, reaching $26.5 million. Cost optimization measures improved operating margins to 12.4%, underscoring the team’s commitment to sustainable, profitable growth. Unilever Caribbean’s dedication to delivering shareholder value is evident, with total dividends reaching $0.56 per share, supported by a robust cash reserve and favorable retained earnings.

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Businessuite Women

Who is Marlene J. Street Forrest, Managing Director of the Jamaica Stock Exchange Group?

Published

7 months ago

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November 16, 2024

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Transforming the JSE into a Global Benchmark
Dr. Marlene J. Street Forrest, CD, JP, has been a transformative figure at the Jamaica Stock Exchange (JSE), serving as its Managing Director for nearly 20 years. She is credited with steering the Exchange into a modern era characterized by transparency, technological innovation, and diversified offerings. Under her leadership, the JSE has seen major milestones, including the demutualization of the organization and the establishment of the Junior Market and the US Dollar Denominated Market. These initiatives have significantly increased capital accessibility for businesses and bolstered the Exchange’s regional and global profile​

A Career Defined by Leadership and Vision
Dr. Street Forrest’s journey in financial services and leadership spans multiple sectors, both in Jamaica and internationally. She earned her Bachelor of Science in Management Studies from the University of the West Indies and an MBA from Barry University in Florida. Her academic grounding paved the way for a career marked by strategic vision and operational excellence. Recognized as a Certified Business Consultant, she has brought expertise in enterprise risk management, cybersecurity, and governance to her work at the JSE​

Celebrated Achievements and Global Recognition
Her contributions have garnered numerous accolades, including the Order of Distinction (Commander Rank) in 2016 and the Afroglobal Excellence Award for Global Impact the same year. She has also been recognized as a Business Leader of the Decade and honored with an honorary Doctorate in Public Policy by the University of the Commonwealth Caribbean in 2021. Her authored works, such as On Leadership: Discipline, Discretion, and Daring, offer insights into her philosophy and strategies for effective leadership​.

Facing Challenges in a Male-Dominated Industry
As a female leader in a male-dominated industry, Dr. Street Forrest overcame significant challenges through a combination of resilience, strategic networking, and an unwavering commitment to excellence. Her success reflects her ability to lead with integrity while navigating the complexities of the financial sector.

Looking Ahead: The Next Chapter for the JSE
With Dr. Street Forrest set to retire, her successor will need to embody characteristics of innovation, foresight, and adaptability to sustain and surpass her achievements. The incoming leader will face the challenge of continuing digital transformation, expanding market reach, and maintaining the JSE’s reputation as a global benchmark in financial services.

The legacy of Dr. Marlene J. Street Forrest will undoubtedly serve as a guiding beacon for the next era of leadership at the Jamaica Stock Exchange.

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