Delaware Business Magazine - November/December 2021

Page 5

LEGISLATIVE PRIORITY

Challenges and Opportunities

PHOTO BY DICK DUBROFF/FINAL FOCUS

BY JAMES DECHENE

AS 2021 DRAWS TO A CLOSE, it seems like a good time to reflect on what the past year has brought, and what to watch for in 2022. For many, this year was a continuation of last. Many are still working from home and figuring out where their kids need to be and when—along with (re)learning dreaded programs like Schoology. For others, especially if you are a beach business, it was learning how to handle record breaking crowds with about half staff. While it seems like 2021 was significantly better than 2020 in terms of learning how to deal with COVID-19, we still have a long way to go back to normal. Of note is the continuing worker shortage. As noted, many businesses in the restaurant and hospitality sector were—and continue to be—forced to rely on fewer staff to continue operating. Stories from the summer described staffs banding to together to cover for a vacant head chef position and learning on the fly how to work both the front and back of the house. Some restaurants were forced to limit menu choices and amounts due to lack of sourcing, and some were forced to significantly reduce hours—even close—because there just wasn’t enough staff to remain open. This issue doesn’t appear to be going away anytime soon, and businesses must keep thinking creatively to hire and retain DELAWARE BUSINESS | Nove m be r/ De ce m be r 2021

employees. Employers offering significant sign bonuses and pay well above minimum wage are still struggling to find help, which may mean a faster adoption of cost-cutting measures such as automation to replace frontline positions, such as cashiers, along with an even greater shift to online shopping as retail stores struggle to balance keeping costs low with rising wages. Another impacted industry is construction. Facing similar worker shortages, the industry is soon to be awash in federal stimulus dollars focused on improving the nation’s infrastructure. While it will be a boon to many, the fights now begin to secure soon-tobe scarce resources and materials. For example, there are only so many hot-mix plants providing road paving material. With a race to put fiber in the ground for broadband expansion, production of conduit and fiber lines must be scaled up significantly to handle the demand. The cost of steel quadrupled since pre-pandemic levels. The tightrope walk to success will be balancing a labor and materials shortage against the deadline to spend the stimulus money. Commercial real estate continues to be impacted by COVID-19 and the work-from-home phenomenon. With many large employers, especially in the City of Wilmington, continuing to allow their employees to work from home for the foreseeable 3


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Articles inside

Data: The Driver of Innovation and Decision Making

2min
pages 64-65

Tapping into Talent

2min
page 62

Let's Develop the Code to Our Future

3min
pages 60-61

The Drive to Digital

2min
page 59

CYBERSECURITY: The Next Must-Have to Business Growth

5min
pages 55-58

Cash at the Table

2min
page 54

Innovation Breeds Success

3min
pages 51-52

Getting Real About Infrastructure

3min
page 48

5 Tips to Help Grow Your Small Business

4min
pages 46-47

Pandemic Fuels Latest Tech Revolution

3min
pages 43-44

We Are Delaware

2min
page 40

Differentiating Your Business

2min
pages 38-39

Superstars in Business Winner: Adesis, Inc.

3min
pages 32-33

Superstars in Business Winner: Harvey, Hanna & Associates

3min
pages 30-31

Superstars in Business Winner: Weiner Benefits Group, LLC

4min
pages 28-29

Superstars in Business Winner: Faithful Friends Animal Society

3min
pages 26-27

Marvin S. Gilman Superstars in Business

3min
pages 24-25

CHAMBER SCENE

1min
pages 20-21

Tech Impact and Barclays Breathe New Life into Historic B&O Station

2min
page 18

Offit Kurman, Attorneys at Law Continues to Grow Both Nationally and in Delaware

1min
page 17

Morris James LLP Celebrates 90th Anniversary with Gift to Delaware State University

3min
pages 16-17

Christiana Mall: Evolving To Meet Customer Needs

2min
page 15

Nonprofit Spotlight: Bike Delaware

2min
page 14

Committee Spotlight: Delaware Retail Council

1min
page 13

Supplier Diversity: The Key to Sustaining Your DE&I Efforts

3min
pages 12-13

Kevin P. Kelly Inducted into National Housing Hall of Fame

2min
page 11

Top-Quality Investments Are Key to Our Future

2min
pages 10-11

Diverse Supplier Spotlight: Corexcel

3min
page 9

Incyte's Commitment: Advancing Scientific Innovation in Delaware and Beyond

1min
page 8

Business Spotlight: NextHome Tomorrow Realty

2min
page 7

Legislative Priority

4min
pages 5-6

Message from the President

1min
page 4

Newsbites

16min
pages 66-70
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