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The Hidden Emotions Behind Money, with Anthony Chen, Host of Family Business Radio

December 8, 2021 by John Ray

Money
Family Business Radio
The Hidden Emotions Behind Money, with Anthony Chen, Host of Family Business Radio
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Money

The Hidden Emotions Behind Money, with Anthony Chen, Host of Family Business Radio

Our relationship with money is not just about dollars and cents; there is a mix of emotions each of us has in dealing with money. Family Business Radio host Anthony Chen offers his perspective on how to approach the hidden emotions behind money issues, suggesting a look beneath the surface to find the source of those emotions. Family Business Radio is underwritten by Anthony Chen with Lighthouse Financial Network.

Anthony’s commentary was taken from this episode of Family Business Radio.

Anthony Chen, Host of Family Business Radio

Anthony Chen, Lighthouse Financial

This show is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. The main office address is 575 Broadhollow Rd. Melville, NY 11747. You can reach Anthony at 631-465-9090 ext. 5075 or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance. Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of Family Business Radio can be found at familybusinessradioshow.com.

Tagged With: Anthony Chen, Family Business Radio, Lighthouse Financial Network, money, money and emotions

Getting Your Business Bank Ready, with Bill McDermott, Host of ProfitSense

December 7, 2021 by John Ray

Bill McDermott
North Fulton Studio
Getting Your Business Bank Ready, with Bill McDermott, Host of ProfitSense
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Bill McDermott

Getting Your Business Bank Ready, with Bill McDermott, Host of ProfitSense

For thirty years of his career, ProfitSense host Bill McDermott was a commercial banker. As such, Bill possesses a deep understanding of how a business can cultivate its relationship with their banker, and what makes a business “bank ready.” Hear his thoughts on the subject taken from a recent episode of ProfitSense. ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott

Bill McDermott
Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and business owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott is the Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center and Gwinnett Habitat for Humanity and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University and he and his wife, Martha have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Tagged With: balance sheets, bank ready, Bill McDermott, commercial banking, ProfitSense, The Profitability Coach

Tony Chiappetta, CHIPS

December 6, 2021 by John Ray

Tony Chiappetta CHIPS
Minneapolis St. Paul Business Radio
Tony Chiappetta, CHIPS
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Tony Chiappetta CHIPS

Tony Chiappetta, CHIPS (Minneapolis-St. Paul Business Radio, Episode 27)

Tony Chiappetta, President of CHIPS, discussed the military-grade technology his company offers small- and medium-sized businesses which is proven to be 100% effective from outside hacking and ransomware threats. Tony and host John Ray discussed the CHIPS story, Tony’s background, why even the smallest business is no longer immune from cyberthreats, and much more. Minneapolis-St. Paul Business Radio is produced virtually by the Minneapolis St. Paul studio of Business RadioX®.

CHIPS

CHIPS was founded in 2001 with one goal: to help your business succeed.

As your strategic technology provider, you can rely on CHIPS to take care of all of your technology issues quickly and prevent new ones from arising in the future.

With over 70 years of combined IT and computer experience, they have the knowledge and skills to help eliminate your technology frustrations and keep your business on track. Their technicians are A+ and Microsoft certified, highly trained, and committed to exceeding your expectations.

Website | LinkedIn | Facebook

Tony Chiappetta, President, CHIPS

Tony Chiappetta, President, CHIPS

Tony Chiappetta, President of CHIPS – a Technology Success Provider headquarter in St. Paul, MN.

Over the last 20 years, CHIPS has successfully worked with thousands of Small and Medium-sized businesses throughout the Twin Cities. Their areas of focus are Security, Stability, and Strategy, which allows their clients to further their business success.

The company has won numerous service awards over the years and is proud to be a member of InfraGard, an organization providing seamless public-private collaboration with government that expedites the timely exchange of information for the protection of Critical Infrastructure. This helps Tony and his team keep their clients protected and avoid the issues that plague other organizations.

LinkedIn

Questions and Topics Discussed in this Episode

  • Business Cyber Security – how the threats have changed
  • why traditional methods are no longer adequate
  • stats impacting the SMB community
  • the solution
  • how to learn more

Minneapolis-St. Paul Business Radio is hosted by John Ray and produced virtually from the Minneapolis St. Paul studio of Business RadioX® .  You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

Tagged With: Business Cyber Security, CHIPS, cybersecurity, cyberthreats, hacking, IT, John Ray, Minneapolis St Paul Business Radio, MSP, ransomware, SMB Protocol, Tony Chiappetta

ATL Developments with Geoff Smith: Ribbon Cutting for the new Assurance Financial office in Roswell, GA

December 3, 2021 by John Ray

Assurance Financial
North Fulton Business Radio
ATL Developments with Geoff Smith: Ribbon Cutting for the new Assurance Financial office in Roswell, GA
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Assurance Financial

ATL Developments with Geoff Smith:  Ribbon Cutting for the new Assurance Financial office in Roswell, GA

On this special edition of ATL Developments, North Fulton Business RadioX® host John Ray broadcast live from the ribbon cutting of the new Assurance Financial office in Roswell, led by Geoff Smith. John interviewed several key Assurance Financial executives who attended the celebration as well as real estate agents who came to support Geoff. The turnout was amazing, and Geoff was so busy that John and Geoff didn’t get to have a conversation until the next day by phone! Congratulations to Geoff and the rest of the Assurance Financial team on the new Roswell office!

Regular episodes of ATL Developments with Geoff Smith are broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

https://businessradiox.com/wp-content/uploads/2021/12/AssuranceFinancialKennyHodgesFinal.mp3

Kenny Hodges, President & CEO, Assurance Financial

Kenny Hodges is the President and CEO of Assurance Financial. After working with Wells Fargo for seven years out of college, he founded Assurance Financial in 2001 and has grown the company to over 20 branch offices supported by two operations centers. He is a licensed mortgage banker through the National Mortgage Licensing System Registry and has 27 years of mortgage lending experience. Kenny earned a B.S. in Entrepreneurship Management from Louisiana Tech University where he was elected to serve as the Student Government Association President. He is an active member of the Mortgage Bankers Association and the Louisiana Mortgage Lenders Association where he is a past Board President. He is a member of Young Presidents Organization (YPO) Louisiana and is a past Chapter Chair. Kenny currently serves on the Louisiana Tech University College of Business Dean’s Advisory Board. Kenny is married with three children and resides in Baton Rouge, Louisiana.

LinkedIn

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Clavis Smith

Clavis entered the mortgage business in 1989 and has held numerous positions in mortgage origination and sales production before moving exclusively into sales leadership in 2014. He joined Assurance Financial in 2018 as the Eastern Regional Sales Manager. His experience in retail mortgage production provides great guidance and support to branch leaders and loan production personnel. Clavis is also very active in both state and national Mortgage Banker’s Associations advocating on issues to support the industry. He is a graduate of the University of North Carolina at Chapel Hill, and currently resides in Glen Allen, VA with his wife. He has four children and one grandchild, and enjoys fishing on the Chesapeake Bay or playing tennis and golf in his spare time.

LinkedIn

https://businessradiox.com/wp-content/uploads/2021/12/AssuranceFinancialChrisBartelskiFinal.mp3

Chris Bartelski, Realtor and Educator

Chris’ passion for helping his wonderful clients find their home comes from his family house.  Filled with 2 energetic boys, 2 cats, and a dog, it’s everything he ever wanted. It’s a gift that he will never take for granted.  Using his experience as a marketer and associate broker, his purpose is to help you find your happy.

Website | LinkedIn

 

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Damian Cook, Atlanta Branch Manager, Assurance Financial

Damian Cook is a Branch Manager and Loan Officer in the Atlanta Branch of Assurance Financial. Recognized for outstanding service, Damian has helped more than 775 clients become homeowners. Over 95% of borrowers who participated in a survey gave Assurance Financial the highest satisfaction rating. 100% of those rated Damian Cook’s attention to detail and customer service excellence as their primary reasons for the high satisfaction rating.

A native Georgian, Damian is involved with several organizations; he is as an active member of Dunwoody Baptist Church, Committee Chair of Young Life Perimeter North, and a volunteer of the Atlanta Food Bank. Damian enjoys CrossFit and traveling and spending time with his wife and three children. He graduated from the University of Alabama and received his master’s degree from Mercer University.

Damian is a recipient of the 2013, 2014 and 2015 Mortgage Bankers Association of Georgia Gold Award, and the 2016 Mortgage Bankers Association of Georgia Platinum Award. He is licensed with the Nationwide Mortgage Licensing System and Registry in the state of Georgia.

LinkedIn

https://businessradiox.com/wp-content/uploads/2021/12/AssuranceFinancialMichaelHernandezFinal.mp3

Michael Hernandez, The Hernandez Group

Michael & Roxie joined the Atlanta Board of Realtors in July of 1995. Roxie immediately began helping buyers and sellers with their real estate needs, earning “Rookie of the Year” while Michael finalized the sale of his family business.

In 1998, Michael joined Roxie forming the Hernandez Group. They have since added a full-time Team Coordinator, several agents specializing in buyer representation, a full-time Business Development Department and a Multi-Lingual Agent, further improving the level of service they provide their clients.

The Hernandez Group is dedicated to building relationships and committed to providing the highest level of customer service that is embodied by all in their office. They take the extra steps necessary to fully grasp their clients’ needs: whether it’s buying or selling their first home, downsizing from their estate home, starting an investment portfolio with rental property, giving advice such as whether to build onto their current home or move to a larger home or looking for land to build their perfect home.

When you work with the Hernandez Group you get the full service and attention their highly qualified team believes you deserve.The Hernandez Group specializes in: Single Family Homes, Luxury Homes, Estate Sales, Condo/Townhomes, Lease Purchase Programs, New Construction, Relocation (In/Out of Georgia), Investment/Rental Properties,1031 Tax Free Exchanges & Self-directed IRA’s.

LinkedIn

Geoff Smith, Host of ATL Developments with Geoff Smith

Geoff Smith, Host of ATL Developments with Geoff Smith

ATL Developments with Geoff Smith covers all things economic development in the Atlanta Metro area. From everything inside the Beltline to Avalon and beyond, Geoff Smith interviews the movers and shakers making the ATL one of the best places to live, work and play. An archive of past episodes can be found here.

Geoff Smith is a mortgage banker with Assurance Financial working with Real Estate agents and homebuyers to help them get happily to their closing table. Geoff is an authority on the latest economic development trends shaping the Atlanta Metro area. His interviews reveal an inside perspective at how things get done in the ATL.

Geoff is an active member of his community serving on the Board of Directors of the Greater North Fulton Chamber of Commerce, as well as holding the position of chairman for the Chamber’s Education Committee. He is also Secretary of the Roswell Youth Baseball Association and coaches his sons in football, baseball and basketball. Geoff enjoys golf, camping and traveling with his wife and two sons. He is a graduate of the University of Georgia.

Tagged With: Assurance Financial, ATL Developments, Geoff Smith, GNFCC, Greater North Fulton Chamber of Commerce, North Fulton Business Radio, ribbon cutting, Roswell, roswell ga

Debra Forrest, Forrest Consulting & Associates, Inc.

December 3, 2021 by John Ray

Forrest Consulting
North Fulton Business Radio
Debra Forrest, Forrest Consulting & Associates, Inc.
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Forrest Consulting

Debra Forrest, Forrest Consulting & Associates, Inc. (North Fulton Business Radio, Episode 416)

With a deep background in commercial real estate valuations, Debra Forrest, President and Principal Broker at Forrest Consulting and Associates, brings value-added experience to her brokerage practice. Debra and host John Ray discussed various aspects of the current commercial real estate market, common mistakes tenants make, the value of appraisals, tax assessments, and much more. North Fulton Business Radio is broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

Forrest Consulting & Associates, Inc.

Forrest Consulting & Associates, Inc. (FCA) is an emerging commercial and investment real estate practice offering clients comprehensive solutions when buying and selling commercial properties.  Our specialty is maximizing value in commercial assets. Our goal is to help clients get it right from the start because the value is created when you buy. and avoid overpaying. FCA solution strategies are designed to help:

1. Business owners open new locations that maximize production
2. Investors increase equity through the process of acquiring, managing, and disposing of assets
3. Commercial property owners reduce tax liabilities

Forrest Consulting & Associates, Inc. is a registered brokerage firm with the Georgia Real Estate Commission.

Company Website | LinkedIn | Facebook

Debra Forrest, President & Principal Broker, Forrest Consulting & Associates

Debra Forrest, President & Principal Broker, Forrest Consulting & Associates

Debra Forrest brings 24-years of experience in commercial real estate valuations into her brokerage and asset management practice. Her analysis has helped clients make investment and financial decisions involving retail, office, multi-family, commercial land, distressed properties and more.

Debra is a retired Georgia Hearing Officer, presiding more than eight years over property tax appeals at the Fulton County Board of Equalization. She has rendered fair market value decisions in disputes between county tax appraisers and owners of complex commercial properties throughout Atlanta, Midtown, Buckhead, Sandy Springs, and many in Alpharetta, including the Avalon development.

She is a graduate of the University of Mississippi (Ole Miss) with a B.B.A. in Real Estate and has been in real estate ever since.

Debra is a licensed Georgia Real Estate Broker and Certified General Real Property Appraiser. She is a member of the Atlanta Commercial Board of Realtors and Candidate Member of the CCIM Institute (Certified Commercial Investment Member).

LinkedIn

Questions and Topics Discussed in this Episode

  • What is the difference between real estate vs real property?
  • What are the different types and lease structures and how do you help prospective tenants understand the terms?
  • What tenants should know when leasing office space for their family business.
  • What tenants should know when leasing retail space for their family business.
  • What is the biggest concern business owners have when buying or selling commercial real estate?
  • Do you perform Broker Price Opinions (BPO)?

 

North Fulton Business Radio is hosted by John Ray, and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

RenasantBank

 

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

 

Special thanks to A&S Culinary Concepts for their support of this edition of North Fulton Business Radio. A&S Culinary Concepts, based in Johns Creek, is an award-winning culinary studio, celebrated for corporate catering, corporate team building, Big Green Egg Boot Camps, and private group events. They also provide oven-ready, cooked from scratch meals to go they call “Let Us Cook for You.” To see their menus and events, go to their website or call 678-336-9196.

Tagged With: commercial lease, commercial real estate, commercial tenants, Debra Forrest, Forrest Consulting and Associates, John Ray, North Fulton Business Radio

Top 10 Mistakes Dentists Make

December 3, 2021 by John Ray

DentalBoardComplaintsDLREpisode26Album1
Dental Law Radio
Top 10 Mistakes Dentists Make
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DentalBoardComplaintsDLREpisode26Album1

Top 10 Mistakes Dentists Make (Dental Law Radio, Episode 27)

With clients in about 35 states, Stuart Oberman and his dental law team at Oberman Law Firm have seen a bit of everything. In this episode of Dental Law Radio, Stuart reviews the top mistakes dentists make in their practice, starting with failure to recognize problem patients. Dental Law Radio is underwritten and presented by Oberman Law Firm and produced by the North Fulton studio of Business RadioX®.

 

TRANSCRIPT

Intro: [00:00:01] Broadcasting from the Business RadioX Studios in Atlanta, it’s time for Dental Law Radio. Dental Law Radio is brought to you by Oberman Law Firm, a leading dental-centric law firm serving dental clients on a local, regional, and national basis. Now, here’s your host, Stuart Oberman.

Stuart Oberman: [00:00:26] Hello everyone and welcome to Dental Law Radio. All right. Today’s topic, I am very passionate about. As I said before, we are a dental-centric law firm, Oberman Law Firm. Clients from multiple states, probably 30, 35 states last count, clients from California, Maine to Florida, all points in between. And what I see is the same, same mistakes over and over and over again, until I just have to beat my head against the wall.

Stuart Oberman: [00:01:05] So, I want to review for you Oberman’s Top Ten List of Mistakes. So, let’s start off, let’s run right into it. Mistake number one, failure to recognize problem patients. I can’t tell you how many calls a week I get, “I got this problem patient. What do I do? I got this problem right now. I got the patient in the chair. What do I do?”

Stuart Oberman: [00:01:32] Let me make this point real clear. And I’ve said this over and over and over again, you’re going to know you’ve got a problem patient before you put your hand in their mouth. You know why? Because when they called your office, they were rude. When they made the appointment, they were rude. When they went to your front desk to check in, they were rude. When they walked back to your chair, they were rude. They’ve cussed at your hygienist. They’ve cussed at your assistant. And yet you’re going to treat them. And you’ve got 17 people in your office tell you, “Doc, bad news. Doc, bad news.” And yet because you see $1,000 coming in your checkbook, you’re going to treat them.

Stuart Oberman: [00:02:14] Let me make this point clear, you touch one tooth and you bought that problem patient, and you will live with that patient forever. Get rid of that patient. Do not ever, ever, ever, ever treat a problem patient. Your gut is going to tell you, you’ve got a problem patient. And when that patient sits in your chair, before you touch them and they tell you what’s wrong, I don’t care what it is. You don’t do it. You do not do cavities. I don’t care. You do not do whatever that problem is. You get rid of that patient.

Stuart Oberman: [00:02:52] Two – a good friend of mine is going to kill me on this one – collections. Rule of thumb, my opinion is never, ever, ever send your patient to collections. We do a lot of board complaints, a lot of risk management, and I’m going to say at least 90 percent of all problems stem from collections. Once you send a patient to collections, you lose control of what the stature of that case is because then you’ve got some collection agency person harassing your patient and never ends. So, I mean, we’ve had clients before that have sent a patient to collections for a $100. So, they’ve got a problem, then they pay me $2,000 to put the fire out, so that is very good business sense. Do not send your patients to collections.

Stuart Oberman: [00:03:54] Mistake number three is, our dental offices are horrible at communication. They fail to advise the staff for the need of consistent, accurate documentation. Document your charts. Let me make this point clear, if you rely on your staff to document your charts, you’re going down a dark hole. It’s okay to delegate that. But at the end of the day, that’s your responsibility. If they put down the wrong x-ray right left side, tooth wrong.

Stuart Oberman: [00:04:25] And you go in front of the board and that board calls you out. Or you go in a deposition for malpractice claiming, that other attorney calls you out. What are you going to say? “Well, that was my staff’s problem. I didn’t do that.” And you got three people on the board or five people on the board, sitting and looking at you like, “Why do you have the wrong x-ray in the file? Why do you have the wrong x-ray marked?” “Well, it’s my staff’s problem, it’s not my problem.”

Stuart Oberman: [00:04:56] Do not rely on your staff for everything. You’ve got to document it. Teach them what is consistent, accurate, complete documentation. If it’s never in a file, it never happened. If it’s wrong in the file, it’s your responsibility.

Stuart Oberman: [00:05:16] Four – and this is an interesting problem – failure to maintain good chair side manner with patients. And let me tell you, there’s a difference. So, our younger doctors are enormously successful clinically. But the bedside manner is a little rough. It’s quick. They’re under pressure. Our doctors have been practicing a little bit longer, I would say, as a whole or probably a little bit better with chair side manner. That’s a broad statement, so I could have it in every case.

Stuart Oberman: [00:05:55] But chair side manner will keep you out of trouble. A very good friend of mine practicing for 30 years, never had a board complaint. Never had a malpractice claim. I asked her one day, I said, “How did you avoid this kind of trouble? Thirty years never had a board complaint. Malpractice claim, never.” She was, “Let me tell you what I did. First five minutes, I want to know how the family’s doing because it’s already in my chart. I know they’re married. I know the wife passed away. I know their child is sick. I know the child was sick. I know they’ve got kids in college. I know all that. So, for five minutes, I want to know how the family’s doing.”

Stuart Oberman: [00:06:41] You can spare five minutes out of your time with every patient at least five minutes to figure out what’s going on with that patient. And that, from a pure risk management standpoint, will reduce your malpractice claims. And if it’s a new patient, and you don’t get a good feeling talking to that patient, you better take action right away.

Stuart Oberman: [00:07:02] But chair side manner is so important because, look, people love you, but they don’t want to be there. They don’t want be [inaudible]. They don’t want to be poked and prodded. They’re getting divorced. They’re struggling. They’re being laid off. Their kids are in jail. Their mother is sick. They’re taking care of families. They’re going back and forth to nursing home. Their dad’s house is being foreclosed upon. People got problems.

Stuart Oberman: [00:07:29] And all you’ve got to do is be that sunshine and that light. And if there’s a problem and you’ve got a connection with that doctor, we’re painting a connection with that doctor and you got a connection with that patient. You’re going to avoid a problem. All communication.

Stuart Oberman: [00:07:47] Mistake number five, failure to designate a point person. Let me tell you, you got someone in your office that’s handling payroll, OSHA, HIPAA, Compliance, EEOC, Department of Labor, Audits, everything in between. You’ve got to have a designated point person. You can’t have every person doing everything. You can’t have the hygienist or your wife or husband who’s managing a practice do everything. You’ve got to have a point person.

Stuart Oberman: [00:08:20] What are you going to do when you get an OSHA complaint? Where’s it going to? Do you have a process? What are you going to do when a board investigator comes to your office and wants to have information? What are you going to do? Who are you going to direct that person to? Is it going to be you? You don’t have the time for that. You don’t have the resources. You don’t have the training for it. Designate that person on an H.R. standpoint.

Stuart Oberman: [00:08:48] Six, failure to avoid negative comments in charts. Let me tell you, you write something bad in a chart and a patient gets a copy of that chart, it’s going on the internet, folks. I have seen every cuss word imaginable in a chart. I’ve seen every patient called every name in the book. Every patient’s child, mother, wife, husband called everything under the sun in a chart. I’ve seen comments in there that will violate Federal Law regarding race, color, creed, sex, or origin.

Stuart Oberman: [00:09:28] Never ever, ever put anything in the chart that you would not want to put on the front of the New York Times. Because once it goes viral, you are dead in the water. There is no retraction. What are you going to do? Patient decides to go seek another doctor. It is what it is. You’re not going to please everyone and that patient is going to move to another location.

Stuart Oberman: [00:09:55] What are you going to do if all of a sudden you discover that someone in your office, because you never read the chart, put something derogatory about that patient physically, mentally, race, color, creed, sex, or origin? What are you going to do? And, now, that patient has got that file because they picked it up at 10:00 and you didn’t get to your patient until 5:00. You lost control. You absolutely lost control.

Stuart Oberman: [00:10:25] You better know what goes in your files. You better have a policy to prevent that. You better have something in writing from your staff outlining they will not violate that provision. Because, again, if it goes viral, you have a huge, huge problem.

Stuart Oberman: [00:10:42] Mistake number seven, failure to follow up with a patient. Look, I know when I’ve had dental issues, my doctor’s office will call and say how are you doing. Doctor’s offices, we have clients who have regular routine. Our clients have a regular routine. They will call that patient and say how are you doing. It only takes five minutes. You’ve got a complex procedure, “How are you doing?” Or your staff calls, “How are you doing?” Follow up.

Stuart Oberman: [00:11:18] Now, another aspect of this is follow up and document it. Because you will have a patient go south and you will call them 17 times, they will not answer 17 times. Or you call them 17 times, they don’t answer 16, they answer the 17th time. But they will swear under the sun, moon, and stars that you never, ever, ever called them. So, if you’re going to call them, document it. Document the conversation that you followed up. I can’t stress how much that means to the patients and how much of a concern it will be if you don’t get an early reading on that patient that they’ve got a problem.

Stuart Oberman: [00:12:01] So, here’s another concern with our doctors, failure to properly discharge patients from care. I get this question all the time, “I’ve got a problem patient. I wish I could discharge them, but they just won’t go away.” The answer is, you can discharge the patient at any time. Now, my general rule is, you got to be specific on your state rules, but, generally, you discharge, you give a reason, a non-combative reason. And then, you give them 30 days of emergency service.

Stuart Oberman: [00:12:37] Now, that is going to vary state by state. We’d have to check that out. But you can discharge a patient if they do not listen, if they’re not paying their bill, if they are constantly late on appointments, if they reschedule appointments. There is a process. Never ever, ever text a discharge. Never ever, ever text a discharge or send a discharge by email.

Stuart Oberman: [00:13:05] First and foremost, you’ve got to have permission to correspond with a patient by email. It’s electronic communication that involves HIPAA. Send it regular mail or send it certified mail, one of each, or FedEx. Not that I’m endorsing FedEx, UPS is fine too. But that’s a term of art. But get rid of that patient, put it in writing. And then, what you want to do is make sure you keep it for your file. “Well, I discharged that patient.” “Well, is the discharge letter in the file?” “No. But I know I did.” “I sent a certified.” “Do you have the certified receipt?” “No. But I know I did.” “I sent a FedEx.” Again, I’m not endorsing FedEx. “I sent a FedEx.” “Well, you know, I just forgot the receipt.” Figure it out.

Stuart Oberman: [00:13:56] Mistake number ten, failure to refer when needed. I don’t know why in today’s world, our doctors do not refer more cases out. In many cases, they are not qualified to do the treatment that they are doing. But yet they will certainly engage in that conduct and try to do it because they took a course on it at one time. If it’s not what you do every day and if you have to ask yourself, “Am I capable of doing that?” The answer is refer it out. The $1,000 or $2,000 that you save long term will save you a long list of headaches down the road. Refer it out. Know to say when.

Stuart Oberman: [00:14:48] So, mistake number ten, final number ten. So, when you get a board complaint, you get a malpractice claim. And I always say, “It’s not if, it’s when,” because patients are nuts and things happen. In today’s software, you have to be very, very careful to remove or modify notes because it comes up as modification in your software many times. I would not alter notes in the computer. I would do supplementals.

Stuart Oberman: [00:15:25] Look, we all go back and write notes on cases. It’s impossible to remember everything within five minutes of a meeting. You’re going to remember things that occurred at a later date. There’s nothing wrong with adding a typed out or handwritten note to supplement what you have. But if you start modifying notes to avoid a malpractice claim or a dental board complaint or deleting information, you’re in a whole different world and a whole different problem set of headaches that you never wanted to go down. So, be very, very careful what you modify in your communications.

Stuart Oberman: [00:16:08] Folks, that is a simple, simple, simple, 15 or 20 minutes presentation on mistakes. They’re simple mistakes. It’s the simple things that cause you the biggest headache. It’s not the massive things. It’s the little things that add up to the big things. Take a look at what you’re doing. Take a look at these top ten mistakes. And then, let’s look at what we need to do or how you need to improve what you’re doing. But it’s simple steps.

Stuart Oberman: [00:16:39] Thank you for joining us once again on Dental Law Radio. My name is Stuart Oberman. If you have any questions, please feel free to give me a call at 770-886-2400 or stuart, S-T-U-A-R-T, @obermanlaw.com. Thanks for joining us and have a fantastic day.

 

About Dental Law Radio

Hosted by Stuart Oberman, a nationally recognized authority in dental law, Dental Law Radio covers legal, business, and other operating issues and topics of vital concern to dentists and dental practice owners. The show is produced by the North Fulton studio of Business RadioX® and can be found on all the major podcast apps. The complete show archive is here.

Stuart Oberman, Oberman Law Firm

Oberman Law Firm
Stuart Oberman, host of “Dental Law Radio”

Stuart Oberman is the founder and President of Oberman Law Firm. Mr. Oberman graduated from Urbana University and received his law degree from John Marshall Law School. Mr. Oberman has been practicing law for over 25 years, and before going into private practice, Mr. Oberman was in-house counsel for a Fortune 500 Company. Mr. Oberman is widely regarded as the go-to attorney in the area of Dental Law, which includes DSO formation, corporate business structures, mergers and acquisitions, regulatory compliance, advertising regulations, HIPAA, Compliance, and employment law regulations that affect dental practices.

In addition, Mr. Oberman’s expertise in the health care industry includes advising clients in the complex regulatory landscape as it relates to telehealth and telemedicine, including compliance of corporate structures, third-party reimbursement, contract negotiations, technology, health care fraud and abuse law (Anti-Kickback Statute and the State Law), professional liability risk management, federal and state regulations.

As the long-term care industry evolves, Mr. Oberman has the knowledge and experience to guide clients in the long-term care sector with respect to corporate and regulatory matters, assisted living facilities, continuing care retirement communities (CCRCs). In addition, Mr. Oberman’s practice also focuses on health care facility acquisitions and other changes of ownership, as well as related licensure and Medicare/Medicaid certification matters, CCRC registrations, long-term care/skilled nursing facility management, operating agreements, assisted living licensure matters, and health care joint ventures.

In addition to his expertise in the health care industry, Mr. Oberman has a nationwide practice that focuses on all facets of contractual disputes, including corporate governance, fiduciary duty, trade secrets, unfair competition, covenants not to compete, trademark and copyright infringement, fraud, and deceptive trade practices, and other business-related matters. Mr. Oberman also represents clients throughout the United States in a wide range of practice areas, including mergers & acquisitions, partnership agreements, commercial real estate, entity formation, employment law, commercial leasing, intellectual property, and HIPAA/OSHA compliance.

Mr. Oberman is a national lecturer and has published articles in the U.S. and Canada.

LinkedIn

Oberman Law Firm

Oberman Law Firm has a long history of civic service, noted national, regional, and local clients, and stands among the Southeast’s eminent and fast-growing full-service law firms. Oberman Law Firm’s areas of practice include Business Planning, Commercial & Technology Transactions, Corporate, Employment & Labor, Estate Planning, Health Care, Intellectual Property, Litigation, Privacy & Data Security, and Real Estate.

By meeting their client’s goals and becoming a trusted partner and advocate for our clients, their attorneys are recognized as legal go-getters who provide value-added service. Their attorneys understand that in a rapidly changing legal market, clients have new expectations, constantly evolving choices, and operate in an environment of heightened reputational and commercial risk.

Oberman Law Firm’s strength is its ability to solve complex legal problems by collaborating across borders and practice areas.

Connect with Oberman Law Firm:

Company website | LinkedIn | Twitter

Tagged With: Dental Law Radio, dental practice management, dentists, Mistakes Dentists Make, Oberman Law Firm, Stuart Oberman

Hans Meier, Hans Wooden Puzzles

December 3, 2021 by John Ray

Hans Meier Hans Wooden Puzzles
North Fulton Business Radio
Hans Meier, Hans Wooden Puzzles
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Hans Meier Hans Wooden PuzzlesHans Meier, Hans Wooden Puzzles (North Fulton Business Radio, Episode 415)

Recorded during a remote broadcast from the Ribbon Cutting of the new Assurance Financial office led by Geoff Smith, Hans Meier, Hans Wooden Puzzles, and host John Ray had a “mic test” which turned into a brief and fun conversation. Hans and John discussed the Pro Alliance meeting at the Greater North Fulton Chamber and the “Rudolph Awards” which Hans passes out at Pro Alliance during the holidays. They also celebrated Geoff, his new Assurance Financial branch, and how Geoff goes out of his way to use Chamber members. North Fulton Business Radio is broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

Hans Meier, Owner, Hans Wooden Puzzles

Hans creates custom wooden puzzles 3-D (Animals, Dogs, Cats, Horse and etc), puzzles flat, solving puzzles, and wooden cutouts. He is a world-renowned woodworker who specializes in scroll saw work. Prior to the pandemic, he was selling the bulk of his items at craft shows during the Spring, Summer, and Fall. He is currently selling at the Lakewood 400 Antique Mall the third weekend of every month.

He also creates custom wood gifts for business customers.

Hans is now involved as a volunteer making canes for Canes for Heroes. CFH donates canes and walking sticks at no charge to veterans throughout the country

Hans Wooden Puzzles website | Canes for Heroes website | Donate to Canes for Heroes

 

North Fulton Business Radio is hosted by John Ray, and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

RenasantBank

 

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

 

Special thanks to A&S Culinary Concepts for their support of this edition of North Fulton Business Radio. A&S Culinary Concepts, based in Johns Creek, is an award-winning culinary studio, celebrated for corporate catering, corporate team building, Big Green Egg Boot Camps, and private group events. They also provide oven-ready, cooked from scratch meals to go they call “Let Us Cook for You.” To see their menus and events, go to their website or call 678-336-9196.

Tagged With: Assurance Financial, Geoff Smith, GNFCC, Greater North Fulton Chamber of Commerce, Hans Meier, Hans wooden puzzles, Pro Alliance, ribbon cutting, Roswell, roswell ga

Decision Vision Episode 145:  Should I Start a Foundation? – An Interview with Chris Yadon, The Younique Foundation

December 2, 2021 by John Ray

The Younique Foundation
Decision Vision
Decision Vision Episode 145:  Should I Start a Foundation? - An Interview with Chris Yadon, The Younique Foundation
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The Younique Foundation

Decision Vision Episode 145:  Should I Start a Foundation? – An Interview with Chris Yadon, The Younique Foundation

What is a foundation, how do you start one, and what are the essential bases to cover from the outset? Chris Yadon, Executive Director of The Younique Foundation, and host Mike Blake dive into the details of effectively creating and running a foundation, funding, giving out money, governance, and much more. Decision Vision is presented by Brady Ware & Company.

The Younique Foundation

The Younique Foundation aims to inspire hope in women who were sexually abused as children or adolescents by providing healing services through educational retreats, support groups, and online resources.

They educate and empower parents and caregivers to protect children from sexual abuse through community and online resources.

They advocate for open discussions about sexual abuse through community dialogue and social awareness.

The Younique Foundation exists for the purpose of helping adult, female survivors of child sexual abuse navigate their healing journeys. We provide a range of free services, including:

  • Depression
  • Anxiety
  • Eating disorders
  • Suicidal thoughts
  • Insomnia
  • Panic attacks
  • Addictions and addictive behaviors
  • Unhealthy relationships
  • Chronic pain
  • Learning difficulties

Company website | LinkedIn | Facebook | Twitter | Instagram

Chris Yadon, Executive Director, The Younique Foundation

The Younique Foundation
Chris Yadon, Executive Director, The Younique Foundation

Chris Yadon joined The Younique Foundation as Executive Director in 2015. Chris is responsible for executive leadership, effective stewardship of financial resources, planning, fundraising, and reporting at The Younique Foundation.

He has previously held leadership positions in the start-up, tech, and nonprofit industries. He brings a valuable skillset to the organization and is deeply committed to addressing the epidemic of child sexual abuse. Chris plays a vital role as a spokesperson for The Younique Foundation. He is a sought-after local speaker and has also been invited to present nationally and internationally.

His expertise centers on heightening awareness to the epidemic of child sexual abuse, as well as educating the public on best practices for prevention and the healing services available to survivors. Chris has been featured across several media platforms where he is often requested to contribute as an industry thought leader and expert.

Chris considers his family as his greatest accomplishment. He is the grateful father of six children: three boys and three girls. He and his wife, Christy, have been married for 22 years.

LinkedIn

Mike Blake, Brady Ware & Company

Mike Blake, Host of the “Decision Vision” podcast series

Michael Blake is the host of the Decision Vision podcast series and a Director of Brady Ware & Company. Mike specializes in the valuation of intellectual property-driven firms, such as software firms, aerospace firms, and professional services firms, most frequently in the capacity as a transaction advisor, helping clients obtain great outcomes from complex transaction opportunities. He is also a specialist in the appraisal of intellectual properties as stand-alone assets, such as software, trade secrets, and patents.

Mike has been a full-time business appraiser for 13 years with public accounting firms, boutique business appraisal firms, and an owner of his own firm. Prior to that, he spent 8 years in venture capital and investment banking, including transactions in the U.S., Israel, Russia, Ukraine, and Belarus.

LinkedIn | Facebook | Twitter | Instagram

Brady Ware & Company

Brady Ware & Company is a regional full-service accounting and advisory firm which helps businesses and entrepreneurs make visions a reality. Brady Ware services clients nationally from its offices in Alpharetta, GA; Columbus and Dayton, OH; and Richmond, IN. The firm is growth-minded, committed to the regions in which they operate, and most importantly, they make significant investments in their people and service offerings to meet the changing financial needs of those they are privileged to serve. The firm is dedicated to providing results that make a difference for its clients.

Decision Vision Podcast Series

Decision Vision is a podcast covering topics and issues facing small business owners and connecting them with solutions from leading experts. This series is presented by Brady Ware & Company. If you are a decision-maker for a small business, we’d love to hear from you. Contact us at decisionvision@bradyware.com and make sure to listen to every Thursday to the Decision Vision podcast.

Past episodes of Decision Vision can be found at decisionvisionpodcast.com. Decision Vision is produced and broadcast by the North Fulton studio of Business RadioX®.

Connect with Brady Ware & Company:

Website | LinkedIn | Facebook | Twitter | Instagram

TRANSCRIPT

Intro: [00:00:02] Welcome to Decision Vision, a podcast series focusing on critical business decisions. Brought to you by Brady Ware & Company. Brady Ware is a regional full-service accounting and advisory firm that helps businesses and entrepreneurs make visions a reality.

Mike Blake: [00:00:21] Welcome to Decision Vision, a podcast giving you the listener clear vision to make great decisions. In each episode, we discuss the process of decision making on a different topic from the business owners or executives perspective. We aren’t necessarily telling you what to do, but we can put you in a position to make an informed decision on your own and understand when you might need help along the way.

Mike Blake: [00:00:43] My name is Mike Blake, and I’m your host for today’s program. I’m a director at Brady Ware & Company, a full-service accounting firm based in Dayton, Ohio, with offices in Dayton; Columbus, Ohio; Richmond, Indiana; and Alpharetta, Georgia. My practice specializes in providing fact based strategic and risk management advice to clients that are buying, selling or growing the value of companies and intellectual property. Brady Ware is sponsoring this podcast, which is being recorded in Atlanta for social distancing protocols.

Mike Blake: [00:01:12] If you would like to engage with me on social media with my Chart of the Day and other content, I’m on LinkedIn as myself and @unblakeable on Facebook, Twitter, Clubhouse, and Instagram. I also recently launched a new LinkedIn group called A Group That Doesn’t Suck, so please join that as well if you would like to engage. If you like this podcast, please subscribe on your favorite podcast aggregator and please consider leaving a review of the podcast as well.

Mike Blake: [00:01:41] Today’s topic is, Should I start a foundation? According to statistics published by Foundation Stats, in 2015 there are 86,000 foundations representing $712 billion dollars in assets. They fund philanthropic projects, scientific research, on real estate, and even make business investments.

Chris Yadon: [00:02:04] And, we haven’t covered foundations at all on this program. And, as we get to episode 140, whatever it is, I think it’s high time we do so because after you hear those statistics, you come to recognize that they represent – foundations represent a significant economic force for good, for change, for social development in our society.

Chris Yadon: [00:02:30] And, I’m confident at least by sheer luck there are at least some individuals that have the wherewithal to either start foundations themselves or significantly fund foundations that are within the sound of the voice of this podcast. And, I think many of us aspire one day to maybe be achieving a level of wealth and success where we can start a foundation. And, we may very well discover during the course of today’s conversation that it isn’t – that you don’t necessarily have to be a gazillionaire to start a foundation, and I think we’re going to learn that today.

Mike Blake: [00:03:11] Authorized by the IRS as a charitable foundation in 2015, The Younique Foundation inspires hope in women who are sexually abused as children or adolescents by providing healing services through retreats, support groups and online resources. They educate and empower parents and caregivers to protect children from sexual abuse through community and online resources. They advocate for open discussions about sexual abuse through community dialogue and social awareness.

Mike Blake: [00:03:38] And, joining us today to talk about Younique, as well as to talk about foundation creation in general, is Chris Yadon, who joined The Younique Foundation as executive director in 2015. Chris is responsible for the executive leadership, effective stewardship of financial resources, planning, fundraising and reporting at The Younique foundation. He has previously held leadership positions in the startup technology and nonprofit industries. He brings a valuable skill set to the organization and is deeply committed to addressing the epidemic of child sexual abuse.

Mike Blake: [00:04:12] Chris plays an important role as a spokesperson for The Younique Foundation. He is a sought after local speaker and has also been invited to present nationally and internationally. And, thanks to being here, you can put podcasts on his on his checklist.

Mike Blake: [00:04:27] His expertise centers on heightening awareness to the epidemic of child sexual abuse, as well as educating the public on best practices for prevention and the healing services available to survivors. Chris has been featured across several media platforms where he is often requested to contribute as an industry thought leader and expert.

Mike Blake: [00:04:45] Chris considers his family as his greatest accomplishment. He is the grateful father of six children, three boys and three girls. He and his wife, Kristy, have been married for 22 years.

Chris Yadon: [00:04:56] Well done, Chris Yadon. Welcome to the program.

Chris Yadon: [00:04:59] It’s so good to be here with you, Mike.

Mike Blake: [00:05:02] So, Chris, let’s start off with a very basic question, but I think it’s important because I’m not sure everybody knows the answer to this question that’s listening to this podcast. I’m not sure that I know the answer to the question correctly if I’m being perfectly honest. And, that is what is a foundation? When we hear the word foundation, what should we be thinking of?

Chris Yadon: [00:05:22] Yeah. That’s an interesting question because foundation can mean many things. There are public charities that use the word foundation. There are private foundations that use the word foundation. There are corporate foundations that use the word foundation. So, the word foundation in and of itself doesn’t necessarily designate a certain type of entity. For example, we’re called The Younique foundation. We’re actually a public charity. I would say, though, it’s most commonly used to describe a certain type of entity, which is a private foundation.

Mike Blake: [00:06:02] Now, that leads nicely to the next question, which is, as I was researching for this podcast, it seems like there are actually different types of structures of foundations. So, you mentioned that perhaps most of us think of a of a private foundation. But if you’re familiar with them, what are the other types of foundations that fit into this category?

Chris Yadon: [00:06:23] Yeah. So, you’ll – the two biggest type that you’ll see are the private foundations that are often associated with the family and the family’s wealth. So, The Bill and Melinda Gates Foundation is an example.

Chris Yadon: [00:06:38] But you’ll also see foundation often used with corporate foundations. So, Chick-Fil-A would have a corporate foundation.

Chris Yadon: [00:06:47] So, those are the two most common type of private foundations. But, again, kind of like I mentioned at the beginning, even some public charities like ours use the term foundation occasionally in their names.

Mike Blake: [00:07:03] And, interestingly, you know, for good or ill, and I’m sure I certainly don’t want to open a debate on this issue, but, you know, foundations can also be used as or have been used in the past as frankly tax reduction structures. And, again, I’m not going to debate as to whether or not that’s good or bad with the policy should be.

Mike Blake: [00:07:26] But interestingly enough, I learned that when Henry Ford passed away that he gave most of the shares of the Ford Motor Company to a foundation, a family foundation. Or, actually, yes, before you passed away. And then, ultimately one of the Ford family maintained control of that foundation to the board. But then the chairman resigned, I think it was Henry Ford Jr. resigned after some relatively minor dispute with the board but he sort of got as mad as hell and he wouldn’t take it anymore. That sort of thing. And then, in doing so, lost control of the Ford family fortune. They are only worth a fraction of what they’re worth actually have been say in the 1950s until he did that. But, you know, and Henry Ford was known for among other things. He just saw avoiding taxes as a a patriotic duty. It went beyond just financial. It was – he just thought that the government had no right to take his money into discussion. That’s why he created the foundation.

Mike Blake: [00:08:32] But, you know, back in the day, it wasn’t that easy to create a foundation that would effectively be a tax avoidance scheme. And, the second of that loophole was passed through by Ford Jr. The Ford family lost that a lot of that wealth. Now, they’re still holding on to the Detroit Lions. I’m not sure if that’s a good or bad. We’ll let other people decide. Maybe, the second prize is holding on to two Detroit Lions, but kind of interesting how a foundation and the governance of a foundation actually altered the course of the Ford family fortune.

Chris Yadon: [00:09:07] Yeah, you know, and it brings up a really important thing for us to acknowledge around private foundations is they almost always have a dual purpose. Most foundations genuinely want to do good, but it’s not just about doing good. It’s about doing good business as well and protecting their assets and ensuring that those assets can live in some level of perpetuity.

Chris Yadon: [00:09:32] And so, yes, there are tax advantages. They’re highly regulated because of that. As opposed to a public charity, public charities are more scrutinized by the public because of the type of structure that they are, whereas a private foundation has more regulatory requirements and more scrutiny from governing bodies.

Chris Yadon: [00:09:56] So, they both have their purpose. And, when you when you look at a private foundation, anybody should look at that private foundation and understand that they are dual purpose. They’re protecting assets for the family, dealing with the tax implications of those assets while also doing good by giving to public charities like ours.

Mike Blake: [00:10:19] And, you know, if my memory serves you are, if not one of the founders, maybe the founder of The Younique foundation, correct?

Chris Yadon: [00:10:29] Well, I was the first employee. I’ll give the founder credit where it belongs and that’s to our two founding board members that infused a significant amount of wealth into what we did. But me, along with those two, started on day one and and we fundamentally were grappling with some of these decisions on day one. Should we be a corporate foundation? Should we be a private foundation? Should we be a public charity? Ultimately, we landed on public charity for very clear and specific reasons, but all things were on the table when we first considered it.

Mike Blake: [00:11:03] So, I don’t want to get too much in your business and ask unfair questions, but to the extent that you’re able to disclose it, can you talk a little bit about the calculus of reaching that decision on the structure that you have and what those considerations were and why it was that ultimately led you to your current structure?

Chris Yadon: [00:11:24] Yeah. So, a couple of things. First of all, we knew we wanted to provide direct services to those people that we wanted to serve. Typically, private foundations, most of them do not provide direct services. There’s a particular type of private foundation that does, but most don’t. And so, that that was the first point. But even with that point, we still had an option to stay a private foundation.

Chris Yadon: [00:11:53] But for us, we knew the topic of sexual abuse was so broad and had penetrated so deeply into our country, into our communities and even internationally worldwide that we needed broad-based support from the public. And, you generally don’t get broad-based public support as a private foundation. It’s almost always funded by a small handful of individuals, whereas, we needed combined funding both from high networth individuals, including our founders, as well as the general public pitching in to help address our issue that we wanted to address.

Mike Blake: [00:12:33] Oh, that’s interesting. So, if I can read back to you what I think I heard, foundations tend to be kind of, if you will, kind of more closed entities, like a more closely held entity, perhaps within a single family. They don’t need outside support. They don’t want outside support. They don’t want outside influence, probably. Whereas, a public charity recognizes that it needs resources that can leverage beyond what the founders are able to provide on their own.

Chris Yadon: [00:13:00] That’s correct. You just nailed it. And, those those private foundations hold things closely because most of the money they give away is generated by investment returns from the assets that they’ve placed into the foundation. So, they want to manage those closely as a family or a small group, rather than having the public weigh in on how those should be managed or dealt with.

Mike Blake: [00:13:28] And, those assets might become more commonly thought of as an endowment, I guess.

Chris Yadon: [00:13:33] Yeah. There’s many different vehicles they use, but endowments are certainly one.

Mike Blake: [00:13:39] Okay. So, when you guys started Younique, what made you feel like you had to start your own entity versus throwing your considerable resource and influence behind an existing entity? Because I know you’re not the only foundation that addresses this problem. Don’t get me wrong. I’m glad you’re doing it, and the more the merrier as far as I’m concerned. But clearly, at some point, somebody asked a question why do we have to do this ourselves and have our own infrastructure? Why don’t we find a really good, if there is one, a really good entity and write them, you know, support them financially?

Chris Yadon: [00:14:16] Yeah. It’s a great question, and you might find me speaking out of both sides of my mouth here for a minute. I am a huge advocate of individuals that have wealth of finding existing causes rather than starting their own. There’s way too many nonprofits that exist already and many of those nonprofits are really struggling. But the few that are actually having impact, they always need more resource. So, I’d always recommend to a person of wealth to find a high quality nonprofit that can prove that they’re having impact and shovel their resources into those causes that they feel like they can get behind.

Chris Yadon: [00:15:02] But we didn’t do that. And, here’s the simple reason. The topic of sexual abuse was being addressed by many other nonprofits. But there is a very specific segment of sexual abuse survivors that was not being addressed effectively, and that was adult survivors who were sexually abused as children that were dealing with posttraumatic stress. They don’t really have resources outside of going to an individual therapist.

Chris Yadon: [00:15:28] There’s a lot of non-profits and resources in communities that help children who are being abused. There’s a lot of resources that help women who are currently going through domestic violence, including sexual violence. But there were very few resources for adult women who are sexually abused as children. They didn’t have options, and we felt strongly because of the size of that demographic there need to be a champion in that area. And, we decided we needed to be the one to lead that effort.

Mike Blake: [00:16:00] So, in that regard, it sounds very much like, very much like a business decision. Should I start a business or should I invest in other businesses that already exist?

Chris Yadon: [00:16:12] Yeah, identical thinking. I mean, the nuances are different, but the strategic thinking behind it is identical. I’ve spent much of my career in for profit startups, so I know both sides. I know both the nonprofit and for profit sides when it comes to early stage investing. And, it’s remarkably similar.

Mike Blake: [00:16:36] And, you know, I wonder if that’s why there seemed to be a lot of technology, entrepreneurs that are drawn to foundations, right, and affect it. It’s a startup, but a startup with a different ultimate bottom line.

Chris Yadon: [00:16:50] Yeah. Absolutely. You know, if you go to Maslow’s Hierarchy of Needs, you know, the one that was added after the fact was really based on this principle of when everything in my world has been met and I’ve reached self-actualization, what happens? Well, I turn around and give back.

Chris Yadon: [00:17:15] And so, for people that are have high networth, have been successful in their careers, where their needs have been met up and down, it’s no wonder they have a desire to give back and they’re intelligent people and they often feel like they can do it better than the next person. And, in some cases that’s true. And, in some cases, it would be better for them to jump in as an investor in these causes that are already doing good.

Mike Blake: [00:17:44] So, how does one – let’s say somebody is now checking off the boxes and they think they found an unmet niche that they need to start something as opposed to backing something that exists. At a high level, can you describe the process of starting a foundation?

Chris Yadon: [00:18:02] Yeah. Step one, and I would strongly discourage anybody from skipping this step, secure top-notch legal counsel and top-notch accounting counsel. Those are the two critical pieces. And, you specifically want to look for practices that specialize in nonprofit work. If you have those and the start of a board, meaning the core of that board of directors that’s going to start this, you have what you need to start having the strategic discussions of what’s next. But I wouldn’t even take a single step without engaging that legal and financial counsel.

Mike Blake: [00:18:49] Now, you make an emphasis on top-notch. Can I infer that there’s a story that you’re aware of where somebody didn’t use top-notch counsel and they got burned by it?

Chris Yadon: [00:19:01] Well, everybody has a friend or an uncle or a college roommate that, you know, is an accountant or an attorney. But their practice may not be in nonprofit.

Mike Blake: [00:19:14] Yeah.

Chris Yadon: [00:19:14] And, they know enough and can do enough to get you registered. But they’re not going to be there to warn you of the problems that are coming if you don’t set up your entity right and start your governance on day one in the right way. And, I’ve seen many nonprofits get into all sorts of trouble when they rely on their uncle that’s a tax accountant for mom and pop stores on main street who has zero experience in nonprofit and they are their tax advice for their nonprofit. It just doesn’t work. It may work if the nonprofit stays small with little to no impact but the moment they start growing, they’ll be in a mess if they don’t do it right on day one.

Mike Blake: [00:20:06] Especially since, and correct me if I’m wrong, I think registering the foundation is the easy part. I mean, that’s the part where almost anybody can kind of look up the rules. And, that’s probably what that tax accountant did was look at the rules and then just set it up, right? It’s about setting up the right way where you don’t create liability for the foundation founders, board of directors and that sort of thing, right?

Chris Yadon: [00:20:30] Yeah. You got it. Yeah. It’s pretty simple to get it through and and approved by the IRS. Even nonprofessionals do it often and people think that that’s enough. And, frankly, it’s not pretty to them to spend money on legal or spend money on accounting, but I can’t emphasize enough how critical it is. They won’t feel the pain of it till two or three, if they do it wrong, but they will feel the pain of it if they get it wrong.

Mike Blake: [00:21:01] So, what are some of those risks when one starts a foundation, and certainly this is something you’ve you’ve given a lot of thought to, I’m sure, and probably is on your mind daily. What are the risks associated with starting a foundation?

Chris Yadon: [00:21:15] Yeah. I’ll just give you one example. Charitable solicitation laws. Every state, there’s variances and differences in how you solicit funds. And, you know, for a small nonprofit that’s invisible, there’s probably not going to be too many regulatory bodies that care. But like I said, if someone’s aspirational in wanting to have a nonprofit that actually has significant impact on growth and influence, those regulatory bodies are going to watch and keep an eye on them.

Chris Yadon: [00:21:51] So, if I don’t have good counsel to help me know that I’ve got to register in in these 50 states if I’m going to solicit funds and to know how to register, I can get in all sorts of hot water with the way I solicit funds from donors, you know, then I’ve spent money that I’m getting, you know getting scrutiny on, and I don’t have recourse and will cause me all sorts of problems. So, there’s one simple example of what I’m talking about.

Mike Blake: [00:22:27] And, donors to foundations really don’t like their money being spent on lawyers to clean up compliance, right?

Chris Yadon: [00:22:35] That’s right.

Mike Blake: [00:22:36] That’s not what they’re in it for.

Chris Yadon: [00:22:37] They want their money to be spent effectively on programs, and they want a high percentage of it to be focused on programs.

Mike Blake: [00:22:46] So, we’ve touched a little bit on how you fund a foundation, so I’d like to switch to the other side now in terms of how foundations grant or give money. Are there any restrictions on the kinds of activities that a foundation can fund or entities that a foundation can give money to?

Chris Yadon: [00:23:06] Yeah. I mean, generally speaking, private foundations are going to give to 501(c)(3) public charities. That’s going to be the most common. They typically have a requirement to give 5% of whatever their net or their egg is that they’re investing.

Chris Yadon: [00:23:28] So, I have 100 million, you know, I’m going to be required to give 5 million a year. Now, obviously, that 100 million is, we hope growing and grows at a pace that not only meets that 5 million but exceeds it so that the net gets bigger over time. But there is a requirement to give a certain percentage. There are more detailed requirements and how it’s given and documented, but those those are the highest level basics that govern giving.

Mike Blake: [00:24:07] That’s interesting. I did not know about the 5% rule. And so, that has interesting implications for investment policy, right? Generally speaking, I mean, you can’t get in anywhere – you can’t sniff 5% on risk-free assets like you could in the good old days, right? So, you’ve got to be – you’ve got to apply some intellectual horsepower on how are you going to have a portfolio that generates at least 5% a year.

Chris Yadon: [00:24:35] Yeah. For most private foundations, they have an investment practice. It doesn’t necessarily have to be a large one, but obviously depending on the size of the funds that they have, it can dictate how involved that strategy is. But no, it’s not – they’re not just sitting on their hands when it comes to their investment strategy.

Mike Blake: [00:24:59] And, is that 5% measured on a year-to-year basis? Or is there a provision where say, if you have a bad year and you’re trying to preserve capital that you can catch up the next year? How does that work?

Chris Yadon: [00:25:11] Yeah. You’re getting into an area where I’m not as solid in my expertise. As a public charity, we interact with private foundations heavily, so I know a lot of the regulatory areas around them. But that particular question, I don’t want to mislead somebody on because I’m not sure I know the answer to that one.

Mike Blake: [00:25:31] All right. Fair enough. So, our audience can google it. I’m sure it’s out there.

Mike Blake: [00:25:38] So, are there best practices in terms of governance for a foundation to maximize the likelihood that it will be successful?

Chris Yadon: [00:25:52] Yeah, so.

Mike Blake: [00:25:52] What are they?

Chris Yadon: [00:25:53] Yeah. Specific to the giving portion of it, the most important thing that is emerging and growing right now is the role of private foundations in helping charities effectively partner with other community organizations. So, you’re seeing a lot more in private foundations, where they’re funding grants that encourage partnerships across intersectional areas of nonprofits.

Chris Yadon: [00:26:26] I’ll give you a great example of this. We work closely with a group called Stand Together. They work to eradicate poverty and they do so by enlarging and strengthening public charities that they work with. So, they actually apply good business practices in training as well as their giving strategy to encourage these nonprofits to scale and grow effectively, as well as partner with other charities that are working to eradicate poverty. So, you’re seeing – rather than them just kind of sit back and hand out checks, you’re seeing them get more involved strategically with their giving and using their giving to influence public charity strategy. And, I would consider that an emerging best practice.

Chris Yadon: [00:27:15] A couple others at the highest level, obviously good scrutiny and reporting from the charity itself is critical for foundations to ensure that their money is being used effectively. Being clear about what type or what stage a charity is when they invest. If it’s early stage, they know they’re investing and may not get a quote-unquote return on that investment because they’re investing in early stage to get a charity ready to have impact. But later stage charities, they’re looking for actual tangible numbers on, you know, for every dollar they gave, what type of impact did it actually have on the people that they served. So, you know, good, clear direction on when they give to a charity, what the actual strategic goal of that gift is.

Mike Blake: [00:28:10] Now, I’ve served on a few nonprofit boards and in my time. And, one of the things I’ve noticed as an emerging trend is foundations are looking for charities to become a little bit more self-sustainable that they don’t want to sort of be a constant, for lack of a better term, sort of a welfare check forever. But rather they’d like their money to be this something that cedes a program that somehow can at least offset some of its expenses with organic revenue, if not be self-sustaining entirely. Is that something you’re seeing as well? And, if so, why have foundations kind of moved in that direction?

Chris Yadon: [00:28:53] Yeah. It comes in several different flavors. So, there are certain charities based on the people they serve that can actually start businesses within that charity that then return revenue that allows it to perpetuate itself. That is definitely appealing to private foundations.

Chris Yadon: [00:29:15] Where there are charities that don’t have that opportunity or luxury, there’s still a principle here that charities are looking for and that is what else is that public, or sorry, the private foundations are looking for, and that is what is that charity doing to have recurring or stable revenue. So, the emergence of the $5 monthly donor is a great example of that.

Chris Yadon: [00:29:41] So, a small public charity, a private foundation is going to be interested to know, hey, how much money is coming from, you know, Joe public and how many of those are on a recurring basis? How many supporters do you have out there that are giving to your charity $5 a month? It very much becomes a recurring revenue source. And, private foundations are looking at that and whether those charities are growing that particular revenue stream to ensure that that charity is sustainable beyond just the large checks that private foundations tend to write.

Mike Blake: [00:30:20] Now, at the outset of this conversation, you alluded to the fact that foundations are subject to some oversight, which makes sense. Can you talk a little bit, again at a high level, it’s not fair to ask you to be too detailed and you’re not that kind of expert, I don’t think. But at a high level, what kind of oversight are foundations subject to themselves?

Chris Yadon: [00:30:46] Yeah. So, private foundations are subject to specifically dealings with related parties. That’s the biggest one. So, you know, they’re looking to see, “Hey, is this person using the private foundation basically to funnel money into their business interests?” And, that’s going to cause a private foundation a lot of problems.

Chris Yadon: [00:31:20] So, that’s the biggest one, and nothing else is really even close to it. What I would say, are the other ones that may be not as close but pop up or definitely how much are they giving? Who are they giving to? Just making sure all those boxes checked. But the self-dealing aspect of the oversight is by far the most critical piece of it.

Mike Blake: [00:31:48] Now, is anyone allowed to start a foundation? Could I just decide I’m going to start a foundation or are there certain criteria that one has to meet before one is allowed to start one?

Chris Yadon: [00:31:59] Yeah. I mean, technically, yes, Anybody can can start one. Generally speaking, though, the biggest rule of thumb is that there is a $5 million or more that’s put into that private foundation as a starting point. Obviously, many are much larger than that. But that, you know, as you talk to people that define best practices in the space tend to put around 5 million and give or take a little bit as as that starting point.

Mike Blake: [00:32:32] And, do foundations have owners per se, you know, somebody that can say this is my foundation or this foundation belongs to me or to this entity, to this vehicle, whatever? Is there a concept of ownership in a foundation structure?

Chris Yadon: [00:32:49] Not ownership in the business sense. I mean, definitely governance. And, when you’re looking at a private foundation, that governance is more similar to ownership, though it’s still not technically ownership. When you get to a public charity, it is very far away from ownership. It is governed by a board that has a certain number of board members that represent the public and that board provides that governance or decision-making and there’s no ownership power over it.

Chris Yadon: [00:33:22] So, it depends a little bit whether it’s a charity or a private foundation, but neither of them technically would have owners. And, the further away or the closer you get to a public charity, the further away you get from ownership principles.

Mike Blake: [00:33:37] So, how much flexibility or leeway do foundations have in terms of setting their own governance rules? Do they have a lot of latitude in terms of how they structure it? Or are there fairly rigid rules to which most foundations must adhere?

Chris Yadon: [00:33:56] Yeah. When you talk about the public charity side of it, there are pretty significant rules set by the IRS in the code that govern what we do. You know, in terms of governance around strategy or strategic thinking, there’s a lot of flexibility. But when it comes to finance and legal, you’re going to see a lot more structure and regulation. And, though I’m not as familiar with that in private foundations, I believe it’s substantially similar.

Mike Blake: [00:34:36] Now, you mentioned the distinction between a foundation and a public charity. Are there instances in which a foundation decides it would be better off as a public charity? And, if so, are you aware if there’s a mechanism to convert it as opposed to, say, having to shut down the foundation and start all over again with a brand new public charity?

Chris Yadon: [00:34:57] Yeah. So, the in-between between the two is referred to as a private operating foundation and those are private foundations that actually deliver services. That would be the bridge structure in terms of how to go through that transition. It’s not something I have gone through or even heard of someone go through. Typically, once someone starts their one or the other, you very rarely see any shifting from one to the other. It’s an early stage decision that people tend to stick with.

Mike Blake: [00:35:36] I guess that falls into the category of foundations hiring good legal and accounting counsel.

Chris Yadon: [00:35:43] That’s right.

Mike Blake: [00:35:43] They make sure that they’re making the right decisions so they don’t have to change it down the road.

Chris Yadon: [00:35:47] That’s right.

Chris Yadon: [00:35:48] Although, frankly, I’ve not heard of an operating foundation. So, that’s a useful piece of information because it sounds like technically you actually can sort of have your cake and eat it too. If you want to be both on the funding side and the operational side, there is a vehicle available with which to do that.

Chris Yadon: [00:36:06] Yeah. What you give up is public charities have less government scrutiny and regulation because the government relies on the public to provide that. So, your exchange there is you get some of the control you want of a private foundation but what you give up is you have someone looking over your shoulder more so than you would as a public charity.

Mike Blake: [00:36:33] Now, what about an unhappy scenario in which a foundation is not, for whatever reason not working out and the founders, I guess I’m not sure what the term of art would be, but I guess the people in charge decide that it’s time to just dissolve it or close it or whatever. Again, this certainly reflects my ignorance. I don’t even know what the term of art is. But, you know, is there a way to, in effect, terminate a foundation?

Chris Yadon: [00:37:00] There is, and it’s much more complex than I could effectively describe. But what I – the general principle is the funds of that entity are distributed into like entities or entities that are public charities. So, that’s the process that it would go through as it dissolves is – I don’t know of any process, and there may be an expert that knows more than me on this, where those assets end up in an individual’s hands. I think that’s counter to everything about the donation process and the donation structure would be ripe for abuse. And so, those funds will then get distributed to other private foundations or public charities if there was a dissolution.

Mike Blake: [00:37:58] Yeah. And, I would have to imagine if there were a way, if there were some legal mechanism by which funds might be returned to the initial guarantors that there would probably be significant tax penalties, as well as very unpleasant conversations with the IRS itself. Pleasant, expensive and – sorry, unpleasant and expensive and protracted conversations with the IRS.

Chris Yadon: [00:38:25] No doubt about it.

Mike Blake: [00:38:29] Can a foundation be transferred, and I guess this kind of gets into what you’re talking about a little bit, but I want to be clear. As an alternative to terminating a foundation, could you simply find another foundation, for example, that wants to take on that mission, take over the governance, et cetera? Is that an avenue that’s available?

Chris Yadon: [00:38:54] Yeah. Definitely. On the public charity side, it is. I wouldn’t say mergers are super common, but they are common enough that they happen, you know, happen on a regular basis. On the private foundation, I’m not sure if that’s a merger process or how that dissolution would occur. That’s an area I don’t know as much about.

Mike Blake: [00:39:19] Okay. We’re talking with Chris Yadon of The Younique Foundation and the topic is, should I start a foundation? A lot is made about how much principles of foundations and charities are paid, right? That’s a common, I guess, an easy target in some respects for the press. You know, CEO of Charity X makes Y number of dollars. Are there restrictions on how much foundations can pay, can compensate their employees, their board, et cetera?

Chris Yadon: [00:39:54] There are, but it’s very loose and is subject to a lot of loopholes. Here’s what I would take, you know, as a takeaway for people that hear things like that. A well-run nonprofit, whether it’s a private foundation or charity, is a business. And, it has to be run like a business. And, you’re competing, whoever you’re going to have as your executive, you’re competing with every other business that’s out there. Because running a charity is very similar, if it’s done right, to running any other business. Ninety-five percent of it is the same.

Chris Yadon: [00:40:44] So, charities, if they want top-notch leadership, they have to pay, not market rate, but they can’t be a tenth of a market. So, if you have an extremely large charity, that’s a multibillion-dollar charity, if they want the type of person that can run that charity, it’s the same type of person that can run a multibillion-dollar corporation and you’re not going to get that person for $100,000.

Mike Blake: [00:41:15] Right.

Chris Yadon: [00:41:15] You’re just not. And so, sometimes there’s an education that needs to happen of the public of what’s acceptable and that the market does govern it. And, you know, what donors should be concerned about is when it’s excessive. You know, when you see a brand new startup paying a million dollar salary to a CEO, something else is going on there.

Mike Blake: [00:41:43] Yeah, you know, and I think that public education is a really good point because, again, you’re the expert, you actually run and have been involved in these organizations much more than I have. But my own experience is that either a foundation or a charitable organization for that matter of any level of competence is run very much like a business. And, frankly, I think they often have to do more with less.

Mike Blake: [00:42:12] But there’s a notion out there that I’m not sure where it came with, but there’s this assumption that that if you work for a nonprofit, then they sort of have their own romper room and everybody sort of sits on cushy, bouncy chairs and everything else, and they have six-hour workdays and 28-hour work weeks and so forth. But, you know, most charities that I’m aware of, certainly anyone with which I’ve been associated, they work as hard and are under as much stress and strain as any startup and maybe more because the revenue models are so much more restricted.

Mike Blake: [00:42:47] It’s easier – it’s a lot easier to raise money when your goal is to make profit than to raise money when your goal is not to make profit. And, I guess that’s just a long winded way of agreeing with you.

Mike Blake: [00:42:57] But again, having served as a board member, this image of executive directors and board members just sort of taking money in and then living off of their largesse. You know, that’s very much the exception rather than the rule.

Chris Yadon: [00:43:15] Yeah. You’re spot on. And, I couldn’t have said it any better.

Mike Blake: [00:43:22] Chris, we’re running out of time, and I want to let you get back to kind of the rest of your day. But I do have two more questions I want to get to if we can. And, one is as a foundation, are there restrictions on funding sources?

Mike Blake: [00:43:38] For example, let’s say there’s a foreign funding source and you’re not entirely familiar with it, but they want to write you a $50 million check. As as a foundation manager or foundation board, do you have any obligation to kind of verify what the nature of that funding is, where that money came from and so forth, to make sure it’s not from a criminal source or a foreign terrorist agency or something like that or some form of money laundering, for example?

Chris Yadon: [00:44:08] Yeah. Great question. So,the governance here is more governed by ethics, business ethics. So, is there – can I accept a $50 million gift from an anonymous source that I’ve never met? The technical answer is yes. But I do have a responsibility, an ethical responsibility to scrutinize where my funding has come from, just like you would any business partnership with an investor. You know, when someone invests with you, they become part of your family, whether that’s a for profit or a nonprofit. And, you want to make sure that your family is ethical and healthy and helpful. So, yes, there is an ethical responsibility.

Chris Yadon: [00:45:00] Depending on the type of gift it is, there are some regulations that govern giving. For example, as a public charity, if someone gives you more than 2% two of your five-year operating expenses, that only up to 2% can be counted as a public gift and the other goes into a different calculation that you have to keep balanced as a public charity. So, I use that as a as a quick example. It’s referred to as the one-third test, to give you a sense of what types of regulations there are. So, balance and where funds come in is part of regulation.

Chris Yadon: [00:45:47] But in terms of who you do business with, it’s important that any charity, just like any business, scrutinize their partners from an ethical perspective.

Mike Blake: [00:45:58] Right. Just as we have a client acceptance process in our accounting firm, it’s probably a good idea to have a funding acceptance process of some kind within. Just because if nothing else, I mean, even if you put ethics aside for a second, even though I wouldn’t advise that, if you accept money from someplace and then it turns out to come from a very bad source, that can be a foundation-ending event.

Chris Yadon: [00:46:27] Yes. And, you know, the fact that you brought up a process is perfect. We have two, we have our grant making process where we do that scrutiny on any grants we receive and then we have a partnership process for any significant partnerships that we ask and answer certain types of ethics questions.

Mike Blake: [00:46:49] Chris, this has been a neat conversation. Again, I want to be respectful of your time and you’ve been so generous with your time today. If there are topics that we didn’t cover in as much depth as one of our listeners would have liked or other questions I didn’t think of to ask you but they would have wished I’d asked, can they contact you to extend this conversation or expand the conversation? And, if so, what’s the best way to do so?

Chris Yadon: [00:47:12] Sure. I’d be happy to visit with them. Best way to get a hold of me is through my email. I’m imagining you put them in the show notes, but it’s C Yadon spelled Y-A as an apple -D-O-N, @youniquefoundation.org.

Mike Blake: [00:47:30] And that’s Y-O-U-N-I-Q-U-E.

Chris Yadon: [00:47:35] Correct.

Mike Blake: [00:47:35] That’s going to wrap it up for today’s program, and I’d like to thank Chris Yadon so much for sharing his expertise with us.

Mike Blake: [00:47:41] We’ll be exploring a new topic each week, so please tune in so that when you’re faced with your next business decision, you have clear vision when making it. If you enjoy these podcasts, please consider leaving a review with your favorite podcast aggregator. It helps people find us that we can help them. If you’d like to engage with me on social media with my Chart of the Day and other content, I’m on LinkedIn as myself and @unblackeable on Facebook, Twitter, Clubhouse, and Instagram. Also, check out my new LinkedIn group called A Group That Doesn’t Suck. Once again, this is Mike Blake. Our sponsor is Brady Ware & Company. And, this has been the Decision Vision podcast.

 

Tagged With: 501(c)(3), Brady Ware & Company, Chris Yadon, Decision Vision, foundation, foundations, managing a foundation, Mike Blake, nonprofits, The Younique Foundation

Workplace MVP: John Baldino, Humareso

December 2, 2021 by John Ray

Humareso
Minneapolis St. Paul Studio
Workplace MVP: John Baldino, Humareso
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Humareso

Workplace MVP: John Baldino, Humareso

In an engaging conversation, John Baldino, President of Humareso, and host Jamie Gassmann review changes in the HR landscape changes over the last two years, important trends, and look ahead to 2022. They discuss flexibility in work arrangements, compensation and inflation, cultural fabric, diversity, equity and inclusion, and much more. Workplace MVP is underwritten and presented by R3 Continuum and produced by the Minneapolis-St.Paul Studio of Business RadioX®.

Humareso

Humareso is able to strategize with your company and develop plans to manage talent, recruit for skill gaps based on employee inventories, assess markets for growth, develop long-range succession plans and influence a culture of enthusiastic buy-in. Humareso handles all facets of employee engagement and business development. Humareso provides HR solutions and administration for small businesses trying to manage budget and growth.

Humareso sits strategically to support an organization’s vital talent needs. Talent is what they believe in cultivating. They look to drive organizational health through true employee engagement, strategic workforce planning and invested management training. Having a culture that values people, policy, and performance in the right measures is the differential needed to stand apart from other organizations. Whether your organization has 10 or 100,000 employees, dynamic human resources will build corporate strength and recognize talent contribution.

Company website | LinkedIn

John Baldino, MSHRD SPHR SHRM-SCP, Founder and President, Humareso

John Baldino, MSHRD SPHR SHRM-SCP, Founder and President, Humareso

With 30 years of human resources experience, John’s passion of setting contributors and companies up for success is still going strong.  John is a keynote for US and International Conferences where he shares content and thoughts on leadership, collaboration, and innovation, employee success, organizational design and development as well as inclusion and diversity.

He is the winner of the 2020 Greater Philadelphia HR Consultant of the Year award. John is currently the President of Humareso, a global human resources consulting firm, and the proud dad of 3 amazing young adults.

LinkedIn

R3 Continuum

R3 Continuum is a global leader in workplace behavioral health and security solutions. R3c helps ensure the psychological and physical safety of organizations and their people in today’s ever-changing and often unpredictable world. Through their continuum of tailored solutions, including evaluations, crisis response, executive optimization, protective services, and more, they help organizations maintain and cultivate a workplace of wellbeing so that their people can thrive. Learn more about R3c at www.r3c.com.

Company website | LinkedIn | Facebook | Twitter

About Workplace MVP

Every day, around the world, organizations of all sizes face disruptive events and situations. Within those workplaces are everyday heroes in human resources, risk management, security, business continuity, and the C-suite. They don’t call themselves heroes though. On the contrary, they simply show up every day, laboring for the well-being of employees in their care, readying the workplace for and planning responses to disruption. This show, Workplace MVP, confers on these heroes the designation they deserve, Workplace MVP (Most Valuable Professionals), and gives them the forum to tell their story. As you hear their experiences, you will learn first-hand, real-life approaches to readying the workplace, responses to crisis situations, and overcoming challenges of disruption. Visit our show archive here.

Workplace MVP Host Jamie Gassmann

Jamie Gassmann, Host, “Workplace MVP”

In addition to serving as the host to the Workplace MVP podcast, Jamie Gassmann is the Director of Marketing at R3 Continuum (R3c). Collectively, she has more than fourteen years of marketing experience. Across her tenure, she has experience working in and with various industries including banking, real estate, retail, crisis management, insurance, business continuity, and more. She holds a Bachelor of Science Degree in Mass Communications with special interest in Advertising and Public Relations and a Master of Business Administration from Paseka School of Business, Minnesota State University.

TRANSCRIPT

Intro: [00:00:04] Broadcasting from the Business RadioX Studios, it’s time for Workplace MVP. Workplace MVP is brought to you by R3 Continuum, a global leader in workplace behavioral health, crisis, and security solutions. Now, here’s your host, Jamie Gassmann.

Jamie Gassmann: [00:00:30] Hi, everyone. Your host, Jamie Gassmann, here, and welcome to this episode of Workplace MVP. As we near the end of 2021 and gear up for 2022, I thought it would be a great time to reflect on what we, as business and H.R. leaders, have navigated over this last year. Some of the challenges and complexities experienced in 2020 followed us into 2021 and really never left. But just like with any year, 2021 brought focus and importance in areas of our business that needed to be focused on.

Jamie Gassmann: [00:01:03] And today, we will be talking with Workplace MVP John Baldino, President of Humareso, to share from his perspective when looking at the human side of business, what are the key areas of focus for H.R. and business leaders in 2021, and what does he see as areas of importance going into 2022. So, with that, welcome to the show, John.

John Baldino: [00:01:28] Hey, Jamie. Thanks so much for having me.

Jamie Gassmann: [00:01:30] Absolutely. I’m looking forward to connecting with you on this topic. I think you bring some great perspective. So, with that, let’s start out with learning a little bit about your career journey to being President of Humareso.

John Baldino: [00:01:45] So, yeah, thank you. It is one of the things that you alluded to, looking back on 2021, it’s 30 years for me involved this year with H.R., leadership development, organizational design and development. It’s frightening for that 30 years. I can’t believe it. But I’ve had a really great journey in terms of the kinds of organizations I’ve been able to be a part of. And so, through retail and restaurant, nonprofit, education, banking and finance, distribution and manufacturing, just so many areas of industry.

John Baldino: [00:02:26] And I got the privilege of starting Humareso in 2012, so it’s been a little over nine years, and it’s been a great time. Really, I’m thankful to say, a smart move to start the H.R. consulting firm that I did. And we’re just having a blast, honestly, with the work that we get to do with companies across the country, also in a variety of industries. So, it’s really fun.

Jamie Gassmann: [00:02:50] Yeah. And probably a great time right now, obviously. I’m sure your services are called upon even more as people are navigating different complexities and challenges that maybe they haven’t thought that they would experience. So, with that, tell us a little bit about Humareso, and what your organization does, and some of the services that you provide.

John Baldino: [00:03:13] Yeah. I try to tell people, we are as much of an all-in-one for everything H.R. as possible. And the way that we can do that is because we have some wonderful people on staff who are just phenomenal and they represent disciplined areas of H.R. And so, we support companies with a lot of, say, blocking and tackling, compliance administration, direct hire, recruiting, things that they need to get done day in, day out for that employee experience and life cycle.

John Baldino: [00:03:49] But we’re also involved with things that are a little beyond. So, technology, really an interesting path to constantly travel because technology changes so much. And what makes sense for a company at its particular genesis. So, you might use something today that when you double in size, you might not use next year. And so, helping navigate through that. But then, areas of mergers and acquisition, organizational development, learning management, executive coaching, just things where sometimes we overlook those components and think that they are nice to have.

John Baldino: [00:04:24] But, really, in the competitive marketplace today, they’re a must-have. You can’t just kind of put things aside anymore. You can’t ignore compensation. You can’t ignore employee sentiment. What’s happening with our people? Are they engaged? It’s not just how do you feel. It’s how are you productive. And so, I think organizations are much smarter about that than ever before. And so, we get a lot of opportunity to support companies doing a lot of that work.

Jamie Gassmann: [00:04:55] Yeah. Absolutely. It’s like the human side of business has become even more of a focal point and level of importance for businesses, particularly over this last year.

John Baldino: [00:05:06] For sure. For sure. And it’s funny, I mean, you and I have talked about this before, right? When people first connect with Humareso, they’re like, “I’m not sure how to say the name.” And I’m like, “It’s Humareso. It’s Italian for human resources.” And people are always like, “That’s fantastic.” That’s a total lie.

John Baldino: [00:05:27] But the focus for me is to get people to be thoughtful about that idea of human resources. It’s actually a global consideration. I appreciate the fact that in the U.S., we think of it as sort of a department. But, really, it’s a functional relational component of how organizations exist and thrive across the globe.

John Baldino: [00:05:49] So, you’re right, that human-centered perspective is not merely emotional. And I hate to say it, I still get to talk to some CEOs who, “This is all kind of fluff, blah, blah, blah.” And usually, they’re the CEOs that are struggling the most. And I want to just say to them, “Listen. Relax. It doesn’t mean that you have to get a warm blanket and sit in front of a fireplace and just get in touch with your feelings. That’s not what this means. It means you have real people with real concerns and real desires to contribute in their work and in the organization. So, don’t overlook that. Pay attention.”

Jamie Gassmann: [00:06:27] Absolutely. And they want to do good work for you, especially if you show that care and compassion and value that they’re seeking.

John Baldino: [00:06:35] Absolutely.

Jamie Gassmann: [00:06:36] And, obviously, you kind of already mentioned, we’re going to be talking about trending over the last year. So, from your perspective, just to level set as we kind of get into this dialogue, if you were going to look at over this last year, what were some of the key trends that you feel were most impactful to the human side of business?

John Baldino: [00:06:58] I mean, listen, we can be buzzword and trendy for at least an hour, right? Certainly, I think from a new term, we saw this year that the phrase The Great Resignation being used, and people struggling to find talent to fill open roles, and all of the perspective that went along with that. It’s because of unemployment. It’s because people are lazy. And everybody is an armchair coach to tell you exactly what’s wrong with the world.

John Baldino: [00:07:33] In many ways, though, I think that I’ve also heard probably a better phrase, instead of The Great Resignation, I look back and see it as a great reshuffle. And I think what talent has chosen to do this past year is say, “Where can I best thrive? Where can I best invest? Who’s going to like the fact that I’m bringing what I bring to the table? Who will like it the most?” And that may mean that I take my toys and go to another company in order to do that. And so, the talent is still in the marketplace. It’s just reshuffled. It’s out of where it was and onto someplace else.

John Baldino: [00:08:13] And if your organization winds up being one of the organizations whose bench has cleared, you may need to look in the mirror long and hard as to why your organization is the one reshuffled out of as opposed to into. And so, I think for sure that’s something that organizations have had to pay attention to this past year differently.

John Baldino: [00:08:39] And let me just add this, too, I want to be respectful of data. There’s absolutely data that would say this past year – and I’ll try to do this. I might say it twice – there’s jobs that people are filling right now and open jobs where we need people. If you add that number together, it’s more than the number of people available to work. That there’s less people available for all the jobs that are possible, both currently filled and opened. Our birthrate is down. For every two adults, we’re trending at about 1.7. So, we’re not regenerating the same number and haven’t for years. And so, we’re seeing a little bit of that catching up with us, for sure. I’m not ignoring the data.

John Baldino: [00:09:27] But I would also say, there are companies that are able to hire and they have hundreds of people this past year, hundreds of people this past year. Well, where are they coming from? They may be coming from your company if you haven’t paid attention to what’s happening with your team.

Jamie Gassmann: [00:09:43] Yeah. Absolutely. And there were a couple of other areas, too, you mentioned, like from an entrepreneurial spirit with that next generation of workforce.

John Baldino: [00:09:53] I mean, you and I know, we have this spirit even within us. And I’ll speak for myself, I’m not a young person anymore. I pretend I am. I think like I am probably to the chagrin of my spouse. But I’m not really a young person.

John Baldino: [00:10:11] We’ve encouraged a very entrepreneurial approach to commerce. There are so many younger – and I do mean younger by age – who are coming out of school, who very much feel like I don’t ever want to work in-house for someone. I want to start my own company,” whether that’s a product or a service, whether it’s tech based or not. There are just opportunities all over the place. You can start your own website and have product delivered to somebody for $199. I mean, this dropship stuff is just like easy peasy now.

John Baldino: [00:10:49] And so, there’s people who are like, “The heck with that. I’m not working for Baldino. I’m going to work for myself.” And that entrepreneurial spirit you can’t ignore. And so, what has that done this past year? It’s actually taking people out of the workforce as well who don’t desire a W-2 relationship with a company. They don’t want it.

Jamie Gassmann: [00:11:09] So interesting. And I’ve seen that. And I think you and I will talk about it a little bit later about that shift to consulting work. And that we’ve seen some of the writing on the wall for that years before, even pre-COVID. And I’m always kind of looking at, “Well, pre-COVID that was already happening. It just expedited it.” Which we’ve seen across a lot of different other areas.

Jamie Gassmann: [00:11:35] And another area, too, that we’re going to talk about a little bit later is that diversity, equity, and inclusion focus in workplaces. And I think you have some really exciting things to share on that different perspectives of how a workplace can be looking at that within their own space as well.

John Baldino: [00:11:53] Absolutely. We’ll talk more about that. But for sure to at least whet the appetite, honestly, we’re watching verbal responses followed by physical movement from people who are saying, “You say you’re about these things -” organization “- but you’re not. And so, I’m calling you out on it. And if you don’t change it, I’m leaving because I can go somewhere where the value around equity and fostering a sense of belonging is real. It’s active. We can talk about it. I can point to it. And you just want me to know we hired diverse talent.”

John Baldino: [00:12:35] Well, first of all, what does that mean? And second of all, how long are they staying? Because you can hire diverse talent, let’s say, in certain buckets. But in six months, there’s a good chance they won’t be there if your organization isn’t prepped for it. And other people are now going out the door with those folks who’ve been brought in just because they represent some sort of diverse group. That’s not the way to do it.

Jamie Gassmann: [00:12:57] Yeah. No, it’s so exciting to talk about that with you in terms of some of your perspective of how you helped workplaces to really embrace that in a way that’s helpful and really demonstrating what it’s meant to demonstrate. So, that’ll be really exciting.

Jamie Gassmann: [00:13:15] So, diving into The Great Resignations, and we’ve all heard about that and the impact of that. And I think in some ways we probably saw that, but maybe differently than, you know, just hearing some of the data that you shared, probably maybe differently than what we maybe anticipated. I think maybe some retired earlier than they anticipated. And with that, we had people leaving the job market that would have maybe stayed, like, five years longer. But then, to your point, just having less amount of that employee candidate pool based on just there aren’t as many workers out there. So, talk to me a little bit about that trend of the great reshuffle and share kind of some of your perspective a little bit deeper on that.

John Baldino: [00:14:01] For sure. It’s really interesting, honestly, even with what you just shared, that, certainly, there were people who COVID amplified their desire to get out of the workforce. There are definitely people who took early retirement. There are people who were furloughed or laid off from their organization.

John Baldino: [00:14:22] And when the opportunity presented itself to return, they self-selected out and said, “This whole pandemic thing isn’t done yet. I’m not interested in trying to navigate what this means, masks, no masks, vaccines, no vaccine. I just don’t want to be involved with it. And so, I’m not coming back or certainly I’m not coming back to the degree that I used to work. I’ll come back part time -” which we’re seeing that as well “- not full time. I only want to take a role where I can work from home completely because perhaps I’m immunocompromised or I’m a caretaker and I’m concerned about being a carrier for some of these things.”

John Baldino: [00:15:05] So, from a health perspective, absolutely, that’s impacted some of that reshuffle. I’d also say from an opportunity standpoint. So, what do I mean? There are plenty of professionals pre-pandemic who were involved in the – I’m going to use the big industry title – hospitality industry, so that would be things like hotel, restaurants, concierge-based services, spas, all of those areas, who were laid off and laid off for months. And when they were able to come back, came back at a very constrained schedule because it just wasn’t busy enough. People were not getting massages. I mean, think about some of that. You might be worried about health issues. Who wants to come and have a massage? Not as many as once did, let’s say, or other kinds of treatments.

John Baldino: [00:16:01] So, those folks decided, “I got to shuffle myself out of hospitality and into something that is not going to be as influenced by what’s potentially happening in the world, mandates that may yet come down the pike. I’m going to get into something else.” And so, right now, for sure, I’m seeing hospitality-based organizations struggling to find talent, struggling to find talent.

John Baldino: [00:16:26] Add to that the way in which some organizations – think about cities like New York, where so much hospitality happens in New York City. I mean, my goodness, so much of the economy is based on it – people are saying, “You want me to to not only do the work that I’m supposed to do, but now also be a representative of the city’s health mandates, and help to tell people what it’s supposed to be, and don’t sit here, and put your mask on.”

John Baldino: [00:16:54] People have chosen to say, “I am not interested in any of that. I don’t get paid enough for that. I’m not a professional in that degree. I want to use my professional expertise in a different way.” And so, they’ve reshuffled themselves, again, out of that vein of work.

John Baldino: [00:17:09] And lastly, you know, I also want to make sure I give a shoutout to some of the reshuffle as well, for those roles where you have to be in-person. You can’t do it remotely. And I think that we have to be really careful in the business community – because I think we’ve done this – to not make people feel badly for having work that they have to do physically. Just because your organization cannot give you a fully remote job doesn’t mean your organization is barbaric. That is not what it means.

John Baldino: [00:17:46] And we know that there’s going to be a lot of people listening to this while they’re having a meal and maybe you ordered that meal from somewhere. Well, who in the world cooked it and delivered it to you? People. Real people. And so, they couldn’t do it through Zoom. That sandwich would not taste as good if it was only through Zoom. It had to be physically done. So, let’s stop giving people a hard time because I do think that’s influenced the reshuffle as well. We’ve made some of our own employees feel badly as if they had some substandard job. That’s ridiculous.

Jamie Gassmann: [00:18:23] That’s such an interesting point. I mean, when you think about that, it’s like the people going in to make your coffee. Yeah, I could have made a pot of coffee at home, but there’s something about that Starbucks cup that just gives me a little satisfaction for the day.

John Baldino: [00:18:45] And hopefully you’re not going up to that drive-thru window saying, “Thank you so much for this coffee.” Isn’t it terrible that you had to come into work? Wouldn’t you rather have a job where you can work at home? I mean, again, I know that sounds ridiculous, but I think that we have unintentionally sort of made sort of a caste system between what it means to work from home and not being better than having to go in and work somewhere.

Jamie Gassmann: [00:19:08] Yeah. I mean, because there are some employees who they like to work in the office and they want to get back in the office. And, yes, there’s going to be some who are like, “I really prefer to work at home.” But that’s the beauty of our employees, is that difference and what their likes and dislikes and those types of things. So, yeah, interesting points all around.

Jamie Gassmann: [00:19:32] And so, when we talked previously, you indicated there is also another kind of business trend with larger organizations where they’re paying substantial salaries for some entry level or just above entry level positions, that is increasing some of the pay structure that’s having an impact on some of the smaller businesses that might be trying to hire. Can you talk a little bit to some of that trend that you’re seeing?

John Baldino: [00:19:57] Yeah, for sure. I mean, that is absolutely a trend. And I would say, I get asked about compensation a ton this year. Compensation from an external competitive standpoint and then pay equity from an internal standpoint. What are we doing with our own people? Forget about what’s happening externally. Are we paying people equitably for similar work within our company? Well, there’s a good chance that if you are bringing people in at this point, you’re bringing them in higher because you’re trying to compete.

John Baldino: [00:20:31] And all of a sudden, those legacy employees who’ve been there are trending downward because you’re starting people so much higher. So, what are we doing about that? That then becomes now your legacy employees start to feel some sort of way about your company and may think about exiting the company because of that. So, compensation on both sides has been really difficult.

John Baldino: [00:20:51] What we’re seeing is, you know, a large organization could easily say, “We’re just going to throw a bunch of money at this problem. And so, we need people at this particular level -” and I’ll make up something just for the sake of it being easy “- customer service rep. And we’re going to pay this much per hour.” And you’ve got a smaller organization that has a few customer service reps and they can’t compete at that hourly rate the way that Amazon or Verizon or Aramark or just pick whatever large, large enterprise level organization you would like to. And so, they price themselves out of the competition, those smaller companies. They can’t compete at that level.

John Baldino: [00:21:33] And if you are a job seeker, whether active or passive, and somebody calls you and says, “Hey, I got a job for you and you’re going to make $6 more an hour, $10 more an hour than you’re making right now.” Honestly, I see people leave for 50 cents, let alone the numbers that I just mentioned. Holy cow. You think that employee is going to come back to you and say, “Hey, John. I love working for you. They’re going to pay me $6 more an hour. Can you match that?” If I’m a small business, there’s a great chance I’m going to say, “No, I can’t. I can’t do it.” And so, now I’m losing talent because I can’t afford to compete at that compensation level.

John Baldino: [00:22:16] But the risk on the other side, as I see it, is at some point, this compensation thing is going to level out. We’re going to have to right size it a bit because it’s unsustainable. It can’t go on forever. It’s very much, in my opinion, like the housing crisis going back to ’07, ’08, ’09. Things are going to just eventually kind of crash. You just can’t keep saying this is worth more, worth more, worth more, worth more.

John Baldino: [00:22:41] So, what will happen for those people who went to those large companies? They’re likely going to do a riff. They’re going to do a reduction in force. You’re going to get your pink slip, whatever phrase you’re used to. And Verizon will right size. I’m not saying anything out of turn, we’ve seen Verizon, as an example, do this in years past, lay off a number of people, wait a few months, and start to rehire people. And they’ll rehire them at the new lower readjusted rates of pay. And, now, we’ve got all kinds of people on unemployment waiting for that readjustment to happen. And we watch that take its toll on our system.

John Baldino: [00:23:24] And I think organizations need to be wise to kind of wait for that. Take your time. I know it’s going to be stressful right now, but take your time that’s coming sooner than you think.

Jamie Gassmann: [00:23:35] So interesting. I’m guessing that’s contributing to some of the reshuffle, too, is just the opportunities out there for other workers. And, you know, being in the crisis response arena – that our sponsor is part of – some of the things I’ve heard spoken about is just when a situation like the pandemic happens, people start to rethink their situation. And so, some of that pricing that you’re saying probably are more in tune to what’s going on because they’re starting to look at what’s better for me and what should I do for myself, and it becomes enticing.

John Baldino: [00:24:14] Yeah. I mean, it’s hard to say no. Let’s be honest, you’re 26 years old and you’ve got a couple of years under your belt, maybe, of some professional work, and someone wants to pay you 20 percent, 25 percent, 30 percent more than you’re making right now, how are you saying no to that? That would be really hard. You’ve got student loans that you know you’re going to have to pay for. I mean, you just have things that are just realistic.

John Baldino: [00:24:39] And if my grandfather were still here, he’d say, “Get what’s yours as fast as you can get it.” That’s kind of the perspective that some people, for sure, are hearing. And it’s hard to talk them out of that.

Jamie Gassmann: [00:24:53] Yeah. Especially when you’re younger in your career, too, a lot of people say, “Now is your time.” You’ve got a whole 40 years left to work kind of mentality. So, looking at that and talking 40 years out, what is the long term impact that maybe some of that pricing for salaries impact is on, maybe the individual, but also on the organizations?

John Baldino: [00:25:20] Well, I mean, it’s such a great question. You know, I wish I knew in full. So, obviously, I’m anecdotal a little bit with some of the answer. But I would say, I mean, first of all, we have to realign expectations.

John Baldino: [00:25:37] I spoke to somebody about a-week-and-a-half ago, literally, 27 years old, and has a job making $150,000 a year. I’m like, “Are they hiring?” I mean, I have my own company, but I don’t even know what I would have done at 27 years old with $150,000 a year, nothing good. Let me just actually say that, I could at least say nothing good.

John Baldino: [00:26:05] Now, let’s say that the market readjusts, as I just shared. Like, what do you want that person at 29 years old to expect now? They’re going have a hard time going back into the job market and take even 90,000 as a salary, because it’s just going to seem so low compared to what they got used to quickly. That’s where I think we’re going to see a longer term impact because there’s a better chance of those individuals saying, “The heck with this. You’re not paying me what I’m worth. I’m going to go do my own thing. I’m going to go start my own thing. I’m going to go partner up with somebody and try to get something done differently.”

John Baldino: [00:26:44] Some of that may work. As an entrepreneur, obviously, I believe in that, because I started a business as well. But not everybody is going to be able to do that. And, certainly, the reality is, especially for those who’ve started companies, you don’t start making $150,000 your first year. I mean, you don’t. So, if you think starting your business is a guarantee to get you that kind of money right away to match where you’ve been, you’re going to be disappointed.

John Baldino: [00:27:14] And even now, I see entrepreneurs with those who are trying to be entrepreneurial get out of it because the expectation hasn’t been aligned correctly. So, I think long term, we’re going to struggle with that individually.

John Baldino: [00:27:28] As far as organizations are concerned, I think organizations are going to have to be honest about budgets. Because one of two things is going to happen, you’re going to have that huge reduction in force that I mentioned or we’re going to continue to see past the long pricing to cover for these things. I mean, we all go into that grocery store. Holy cow. Holy cow. Who’s paying for that? Or the gas line or whatever, we see what the prices are right now. That’s not sustainable, either. I mean, when you start looking at chicken as being expensive, don’t even bother putting the steaks out. Just don’t bother, because how could I afford it? And that’s where I think that markets are going to have to readjust as well. It’s just not sustainable.

Jamie Gassmann: [00:28:18] Yeah. Because that additional cost to cover those salaries, it’s got to get passed on to somebody.

John Baldino: [00:28:26] Somebody and it’s just you and me, right? It’s when we start saying 6.99 a pound is cheap. And you’re like, “Wait. What am I saying? What am I saying?”

Jamie Gassmann: [00:28:36] Years ago I said, “If they ever moved the coffees to over $5, I’m not buying them.” Well, they’re over $5 and I’m still buying them.

John Baldino: [00:28:44] I just got one this morning.

Jamie Gassmann: [00:28:49] I just got one this morning. So, you bring up a really good kind of points, so segueing into that next trend that we talked about, that entrepreneurial spirit and just seeing this next generation of workforce, you know, having more of that spirit and wanting to look at moving into more kind of consultancy or starting their own businesses. You had indicated when we talked before that this has been taught in us, and it makes me think about my 11-year-old at home who’s like, “I’m going to be a YouTube star someday, mom. They make good money.” And I’m going, “Oh, boy. Yes, they do.” But to get to that, how did they do that? So, what changes are you seeing with this shift of that entrepreneurial spirit? I mean, there’s got to be some pros and cons to that.

John Baldino: [00:29:38] Sure. I mean, look, we’re in the Shark Tank generation. I mean, we’ve encouraged people in this. And listen, I, for one, am not pooh-poohing it. I’m glad we have. Like, there have been some phenomenal inventions and ideas that have come forward as a result of people taking risks. One of my favorite shows to watch, honestly, is The Profit with Marcus Lemonis, and he’s just so smart in his approach to the entrepreneurial game. It’s right on the money.

John Baldino: [00:30:09] And so, I’m not badmouthing it. But what I’m saying is, we watch those people come forward on Shark Tank. And I know you sit on your couch and think, “What the heck is this? Who would buy this? Why do they think this is a great idea?” And we’re right, The Sharks, nobody invests in that company, right? But what we forget is, for that one person who’s standing there, that person represents another hundred who are doing the same thing, trying to put together service or product in an entrepreneurial way that they think the world wants. And they won’t. There are lots of products and services that are by the wayside or the distribution of those things that didn’t happen the way that it was meant to.

John Baldino: [00:30:54] So, disappointment has to be put together in a way to help people learn from it and encourage people back into the job market. Once again, as opposed to just thinking I’ve got to always go back to what could be the next product, the next product, the next product. Not everyone should do that. And I know that might be hard to hear as people listen to this. You know, “John, you can’t crush people’s dreams.” I’m not here to be a dream smasher. That’s not what I’m saying.

John Baldino: [00:31:27] But we need people to work in the disciplines that are functional components of how our economy is put together. We need medical professionals. We need hospitality professionals. We need retail professionals. We need food professionals. We need distribution professionals. We need folks that are understanding logistics and supply chain. And we need people who are going to understand technology in different ways. We need all of that. That has to be encouraged right now in our high schools, in our colleges.

John Baldino: [00:32:03] One of the saddest things for me – and this is a true story. So, this is a couple of years ago – someone who was actually working for my organization in marketing, and he was a recent college grad. He was a marketing associate. And I had him sign up for a digital marketing course. Humareso will take care of it. We paid for it. Just go learn a bunch of stuff. The deal was he had to present back on it to a few of us. And he came back after six weeks and presented on it.

John Baldino: [00:32:35] And he started by saying, “Thanks for letting me take this class. I just want to tell you, I’m so angry.” And I was like, “Oh, my gosh. This isn’t going to go well. Why are you angry?” He said, “Oh, no. I’m not angry at you. I’m grateful that you had me take this course. But I’m angry because I recently finished a four year degree in marketing and I learned nothing that I just learned in six weeks in this marketing course. Not one thing that I learned in these six weeks in practical marketing that I learned in my four year program that I’m now still paying for in my student loans. For that, I’m angry.”

John Baldino: [00:33:17] And I found that to be obviously sad. I was not happy for him. But what does that tell us? It tells us that we also have to realign better what’s happening in our educational system with what’s happening in our entrepreneurial outlets and in the business community. Because there’s a misalignment. It’s not where it needs to be.

Jamie Gassmann: [00:33:36] Oh, that’s such really good points. A lot of what people learn is on the job, in that hands-on, tangible, kind of real-world atmosphere. And you brought up a really interesting point with the entrepreneurs that, I think, too, maybe an employer could reframe it a little bit. I mean, that entrepreneurial spirit I could see as like an absolute benefit to a business, especially if you’re working for a smaller business. Because you want your employees thinking entrepreneurially because that helps to drive a smaller business to even more success when they treat it like it’s their own business.

John Baldino: [00:34:17] So, reframing it, maybe, for the workforce, how could an employer do that in a way that kind of attracts some of those individuals that have that spirit within them that maybe you can kind of bring them over to a company as opposed to trying to start their own gig?

John Baldino: [00:34:39] And as a small business owner or, honestly, even a mid-market company, you have to be willing to put in a little bit of the effort into that to help people have that bridge. You know, I get to talk to business owners all the time of various-sized organizations, and they will sometimes be intimidated by entrepreneurs coming back into the workforce. Or think that, “They’re only going to stay with me a year to make some money and then leave.”

John Baldino: [00:35:07] First of all, you don’t have anybody right now. Take 12 months from somebody, let’s see what happens. You have no idea what’s going to happen in 12 months. Take the 12 months. Relax. The other thing is, if you can reform that drive towards something, as you’re saying, Jamie, that benefits the organization as well without categorizing somebody in a negative way.

John Baldino: [00:35:31] I try to tell people, “Listen, you’re talking to me as I started a consulting firm. Let me paint a picture for you. I was one of those – what you would term – a corporate H.R. person for years, and I’m entrepreneurial. I don’t make sense. There shouldn’t be people like me. But guess what? There are.” And so, you can be entrepreneurial in any kind of industry, in any discipline. It’s about how to encourage it and how to define it.

John Baldino: [00:36:03] When I started Humareso, people – besides making fun of the name – were saying, “Why would you make a name? You should call it John Baldino Consulting, because everyone knows you. That’s what’s going to drive business to you.” And my response was, “If I make it about me, it will be seen smaller than I intend it to be. And so, I want to make sure I highlight the talent that I know will come.” For the first year, I was the only employee of Humareso – for the first year. But, now, all this time later and all these employees that I’m privileged enough to have be a part of the team, I’m glad I knew better than to call it Baldino Consulting, because it is much grander and larger than just me.

John Baldino: [00:36:53] So, if you can keep that long-term perspective in play as a business owner, look at your talent similarly, how can they be a part of the process for as long as they’re part of the process? And how do I encourage that? And, honestly, give them an opportunity to give me the very best that they can give me. That’s what we need to do.

Jamie Gassmann: [00:37:10] Yeah. That is such a good point. Even if it’s just for the 12 months and giving them a stepping stone, they may stay way longer than what they originally anticipated, especially if you give someone with an entrepreneurial spirit some flexibility to be able to work that spirit within the organization. It’s amazing what you can get out of it.

Jamie Gassmann: [00:37:32] And kind of touching on our last trend here in terms of over the last year, the diversity, equity, and inclusion focus that business and H.R. leaders had, you shared the term cultural fabric with me on our last conversation. I just thought that was such a great way to think about this topic. And so, can you elaborate a little bit more on what that means and how a leader can leverage that within their organization?

John Baldino: [00:38:00] Yeah. Thank you. I would say, it’s something that’s going to fight up against, I think, what some people have sort of adopted into their brains for a lot of years. We talk about cultural fit, right? And so, “I didn’t hire that person. They weren’t really a fit. The way that we are, this person isn’t really going to be able to succeed. I’m thinking of that person when I say this,” things like that.

John Baldino: [00:38:28] And what I think we know now is, there’s a bit of bias baked into cultural fit. What we’re saying is, there’s something about that person that isn’t like us. And the like me bias has been around forever. Instead, I think that what we’re smarter to do is look at the individual and say, “What would they add to what we already have?”

John Baldino: [00:38:54] And the picture that I try to give people who want to fight for cultural fit, this is what we need to be about, I try to encourage cultural fabric. Look at your organization like a tapestry. What is it that’s been woven to date? And it could be a beautiful picture on this tapestry, for sure, but where it is today? Couldn’t we be ready for a new thread to be added to this picture on the tapestry? Couldn’t we be ready for that? And we ought to be. And maybe we think it’s too scary. It might mess up the picture overall. It might. It might. It might.

John Baldino: [00:39:34] But, really, we don’t have much of a choice these days. Because if you think you’re just going to find a whole lot of people like you to do what you do the way that you do it, you’re going to be disappointed. So, this isn’t about, “Well, I guess I have to have substandard qualifications.” No. This is about how do we get work done better, wider, differently, with more innovation and creativity, and add a different colored thread to this tapestry of what we’ve built. Oh, my goodness. Now, in a couple of years when I step back, I see the picture more vibrantly. It’s even more beautiful than it was two years previous.

John Baldino: [00:40:15] And I think when we think about inclusion and equity, as for sure, areas that we have to pay attention to, that needs to be a bit more of our attention, is, what kind of fabric are we weaving? What are we ready for? What might we not be ready for but need to get ready for? And to take the risks associated with that.

John Baldino: [00:40:38] I find it really disconcerting when I’m talking to business owners who want to tell me, “John, we’re committed to diversity.” And I believe them. But you have to be committed to a much more holistic view of that word you’re using. Diversity, what does that mean for you? Is it just about persons of color or ethnicity? Is it about a particular gender? Diversity is even more than that. I’m not ignoring those often visible, diverse characteristics. Yes. Yes. You have to be open to that.

John Baldino: [00:41:12] But even beyond that. Even areas of like hiring veterans or disability. Or here’s a couple we don’t talk about enough, socioeconomics, educational backgrounds. Why on earth is it a bachelor’s degree required? Tell me why. When I look at your department and you have five people in that role, and the best one out of the five has an associate’s, does not have a bachelor’s, tell me why it’s required. Tell me why it’s required. “Well, that person is an exception.” How do you know that? You won’t hire anybody who’s like that person according to your standards. Be wider in the way in which you approach people. It’s possible. There are so many talented people out there who just haven’t had the chances that you may have had. So, don’t limit that.

Jamie Gassmann: [00:42:02] Like, most opening it up so that you can attract more of an audience with different backgrounds, different perspectives. Because keeping an open mind about the value that they can bring to that team could be really eye opening.

John Baldino: [00:42:20] For sure. One of my favorites – and when they listen to this, they will crack up laughing – there’s a pair that work at Humareso. And I’m saying a pair. And I won’t say the names. But there is one of the pair who is a 60 something black woman and the other pair is a 20 something white male. They are two peas in a pod. They are for each other like nobody’s business. You cannot get between them.

John Baldino: [00:42:54] And I’m going to tell you, they would not have a reason for their paths to intersect were it not for the opportunity of an open organization who looks at individuals with the skills or competencies, whatever you want to categorize those, with skills, knowledge, abilities, aptitudes, all of that. If we didn’t just look at that, their paths would not have crossed. And, now, they love each other, love each other, and that’s how it should be.

Jamie Gassmann: [00:43:26] Yeah. Absolutely. That’s such a great, great story. I love that. So, we’re going to just take a moment to hear from our show sponsor.

Jamie Gassmann: [00:43:35] Workplace MVP is sponsored by R3 Continuum. R3 Continuum is a global leader in providing expert, reliable, responsive, and tailored behavioral health disruption and violent solutions to promote workplace well-being and performance in the face of an ever changing and often unpredictable world. You can learn more about how R3 Continuum can tailor a solution for your organization’s unique challenges by visiting r3c.com today.

Jamie Gassmann: [00:44:03] So, now, we’re going to shift gears a little bit, John, and we’re going to talk about 2022. And I’m going to ask you to look into your crystal ball and give us some of your future predictions of what you think 2022 is going to look like. So, if we were going to identify and kind of narrow in to, like, some key areas that H.R. and business leaders need to watch for or even, to your point, focus on as they move into this new year, what would those areas be?

John Baldino: [00:44:35] This is so funny, because these are the moments where in the back of my mind, I’m like, “Six months from now, someone’s going to play this for me and tell me you were so wrong.”

Jamie Gassmann: [00:44:46] Isn’t that the risk of any predictive show, right? Or I could just do a follow up show to show how right you were.

John Baldino: [00:44:55] I like that one. Let’s prep for that. I think for sure, one of the things that has been very evident over the last couple of years is the need to be an encouragement towards overall health for our individuals who support our organizations. And I mean, overall health. More than just offering medical benefits, although that’s important. More than just offering ancillary benefits, again, that’s important. But all areas of health, so that’s physical, mental, emotional, spiritual.

John Baldino: [00:45:32] What are the ways in which we can foster opportunities for individuals to latch on to any and all of these areas and be supported? I want to make sure I paint both sides of this. We do know that if those individual contributors are healthier, they’re going to be better employees. That’s just how it is. I know that might not seem as altruistic as some may want. But it is a benefit on both sides of the equation. And that’s okay.

John Baldino: [00:46:03] So, I think that organizations coming into next year, how can they better give people opportunities and start spending money a little differently instead of maybe throwing it all into an HSA or an FSA? Can you use some of that money to go towards – I’ll call it – like a cafeteria type opportunity for people to choose areas of health that they want to focus on? Again, in those areas that I just mentioned, it’s got to be more than just here’s 150 bucks toward your gym membership. I mean, that’s great and all, but not everybody goes to the gym. Not everybody consistently goes to the gym.

John Baldino: [00:46:40] And what we sometimes do for people is if that’s really the primary benefit that we offer as an ancillary, and then they sign up and never go, then they feel guilty because they’re not going. So, we’ve we’ve actually made another problem. And so, what I would say is there are opportunities to be more customized. Let people choose how they can spend that money every month towards areas of mental health. Maybe they can chat with somebody for a few sessions over Zoom, a mental health professional. Maybe they can do a yoga class. Maybe they can do some sort of walk through the spiritual religions of the world.

John Baldino: [00:47:24] I mean, all kinds of things where people are like, “I’ve never been exposed to this kind of information. I’m really interested to know. It’s making me more centered, more aware, more compassionate, and considerate of others.” Again, how is that not going to help your organization? So, I think that that’s an area, for sure, that people who are in positions of authority or influence could encourage their organizations in, in providing that to their people. So, whole health consideration, for sure.

John Baldino: [00:47:55] I’d also say that we talked about flexibility. You mentioned it, Jaime, too, just a little while ago as well. Well, what does flexibility mean? And, again, when I talked about this before, I have staff even that are like, “I don’t want to work from home. Can I work in the office every day? I know you tell me I can work hybrid. Can I work in there every day? Because I bore a bunch of children that I love, but I’d rather not be with them 24/7 all the time. I think it’s healthy for me to have a little bit of a break, be with some adults.”

John Baldino: [00:48:28] My wife, we have three awesome young adults. They are in college and older and they’re great. My kids are all two years apart, so it was a little crazy in the early years. And my wife, we were fortunate enough that she wanted to stay home, especially with the third one, to stay home with all three. But she took two days a week to go work at Ann Taylor. She’s been there almost 18 years, I think at this point. Because she said to me, “I just want to talk to some other adults. I don’t want to be in the house.” That’s fair.

John Baldino: [00:49:06] So, how do we have some flexibility in the way in which we give people opportunities, either hybrid work, work from home, those considerations? How do we give people flexibility even in hours? Could they be full time? Does it have to be 9:00 to 5:00? Oh, my goodness. What if we did 12:00 to 8:00? Oh, no. That’s crazy. No. Actually, it’s not. For some of our organizations that are listening, your global or at the very least, your coast to coast. 8:00 p.m. on the East Coast is 5:00 p.m. on the West Coast. So, why? Let them work 12:00 to 8:00 and cover West Coast shift. Who cares? Give people opportunity and flexibility in that way. You’d be surprised how well that gets responded to.

Jamie Gassmann: [00:49:50] Yeah. Well, some people aren’t morning people. They don’t want to get up early.

John Baldino: [00:49:54] I’ve heard of them. And I will tell you the truth, I’m actually on the other side of that. I’m absolutely a morning person. I mean, I’m up at 4:30 to get to the gym. And people will look at me and say, “You’ve got something wrong with you to do that.” But I’m wired as a morning person. But come, you know, late afternoon, I got to really push myself forward because I’m crashing a bit.

Jamie Gassmann: [00:50:21] I’m a morning person too. I totally support that.

John Baldino: [00:50:25] We stand together. We’re going to stand together.

Jamie Gassmann: [00:50:27] Yes. We’re partners at the morning crew. I love it. But on the flip side, I have a husband who is a total night owl, so I totally get it. And I think creating that flexibility for employees, you know, you brought up an interesting point on our call about some people don’t want to be in that remote setting because they might be embarrassed about what comes across via their Zoom screens. And just having some kind of appreciation where the employee and understanding where that employee might be coming from because there might be something they don’t want to say in terms of why they don’t want to be in that remote world.

John Baldino: [00:51:05] And we have to remember that people didn’t buy their home or rent the apartment that they’re in thinking that they were going to have to now be on display for everybody in the office. I mean, try to remember that.

Jamie Gassmann: [00:51:18] Yeah. Absolutely. So, a couple of other areas I know we were talking about – I know we’re probably running out of time because you and I could talk for probably hours on various topics – we covered kind of the whole health of the organization and the individual and the flexibility. And then, we also talked about some tolerance for people coming into work sick. And we’re all probably starting to see that.

Jamie Gassmann: [00:51:40] You know, if you’re out shopping at the grocery store and somebody next to you starts coughing, I think we all are kind of like, “Why are you out?” But the reality is, is that, everybody has different things that they’re working through. So, how, in your opinion, is that being at work sick going to look going into this new year?

John Baldino: [00:52:03] I mean, I’ve been somebody who, even pre-pandemic, would always say to someone, “If you are sick, stay home.” There are plenty of companies that are offering personal time, sick time, that you’ve accrued or can take, so take it. That’s why it’s there. There’s nothing wonderful about you hacking up a lung in order just to be there and help to take care of it. There’s nothing wonderful about that. Go home, rest, get better, so you can be back here 100 percent. I’d rather have one day of 100 percent than two days of 50 percent. Get home and get better.

John Baldino: [00:52:38] I would also say, we also have to be thoughtful about how we force people to feel a certain way about using sick time. And I think sometimes managers are the worst when it comes to that. They make you feel badly for being sick, as if you planned on it. And always, I’ll have a manager who wants to tell me the story about someone who said they were sick and then they saw their Facebook pictures of them on the beach. And I’m like, “Listen, that’s one example. Do you want me to tell you about a hundred where people actually were really sick and needed to stay home and feel better? Let’s not make it be about the one example that you want to give me.”

John Baldino: [00:53:15] Give people the opportunity to have the freedom to use the time that they’ve earned and accrued. Be sick. Don’t work. Do you want to tell me it’s okay, “I’ll go home and I’ll log in right away.” No. Be sick and get better. Logging in at home is the same thing. You’re going to work at 50 percent. It doesn’t help me.

Jamie Gassmann: [00:53:33] Yeah. And I think your coworkers would appreciate you going home. They don’t want to catch it, even if it’s not COVID, please. So, great conversation overall. I mean, obviously, you have lots of great advice to share, lots of interesting trends that we discussed over this last year, and things that we’re looking at potentially being on the radar for 2022. If listeners wanted to get a little bit more information out of you or kind of learn more about your services, how can they get a hold of you?

John Baldino: [00:54:06] Yeah. Thank you, Jamie. Obviously, they can go to humareso.co, H-U-M-A-R-E-S-O.com. And that’ll take them right to, I would say, the bible of everything we do. I’m pretty active on social media, so please feel free to connect with me on LinkedIn. Just look for John Baldino, H.R. Or Twitter, actually, is pretty active, and that is @jbalive. As in not dead but alive, @jbalive.

Jamie Gassmann: [00:54:33] Wonderful. Well, thank you so much, John, for being on our show, and for letting us celebrate you, and for sharing your great advice and information, and your predictions for 2022. We really do appreciate you as a guest and thank you so much for your time today.

John Baldino: [00:54:47] Thank you, Jamie. I appreciate it as well.

Jamie Gassmann: [00:54:50] And we also want to thank our show sponsor, R3 Continuum, for supporting the Workplace MVP podcast. And to our listeners, thank you for tuning in. If you’ve not already done so, make sure to subscribe so you get our most recent episodes and other great resources. You can also follow our show on LinkedIn, Facebook, and Twitter at Workplace MVP. And if you are a workplace MVP or if you know someone who is, we want to hear from you. Email us at info@workplace-mvp.com. Thank you all for joining us and have a great rest of your day.

 

 

Tagged With: diversity, Diversity Equity and Inclusion, Employee Engagement, HR, Human Resources, Humareso, Jamie Gassmann, John Baldino, R3 Continuum, The Great Reshuffling, workers compensation, Workplace MVP

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