America at Work by Mediaplanet_USA

A Mediaplanet Guide to Industry in the United States

America at Work

Peter Lorimer Learn what the residential property expert calls his “golden rule” Read the interview with Brantley Gilbert about supporting local economies while on tour Discover how one woman opened a successful franchise in the middle of a pandemic

SEPTEMBER 2020 | FUTUREOFBUSINESSANDTECH.COM

An Independent Supplement by Mediaplanet to USA Today

The Property Brothers Use Smart Home Tech to Change Lives Jonathan and Drew Scott talk about how smart technology can help homeowners save energy and improve quality of life. When it comes to renovating homes on a budget, Jonathan and Drew Scott, stars of HGTV’s “Property Brothers,” are some of the best-known faces in the business. Their years of experience in making dream homes out of fixer-uppers have taught the brothers tips and tricks that could make a difference in creating safer, sustainable homes. “Our philosophy is that your home should make your life easier,” Drew explained. “Technology is doing this in major ways.” Smart homes are where technology and home intersect. In the age of the Internet of Things, everything from appliances to smart phones share the same home network and are able to send information back and forth constantly, expanding how we protect and manage the home. It’s also easier than ever to put energy-saving technology into your home and to start living sustainably. “There are smart devices as easy to install as screwing in a light bulb — allowing you to remotely control and schedule the power in your home to reduce electricity consumption,” Jonathan said. Innovations like smart bulbs and thermostats allow anyone to take control of their energy consumption by tapping wirelessly into lighting, heating, and cooling systems from their phone. Homeowners can even bring renewable energy into the equation. “The cost of solar has plummeted in recent years, and with the introduction of no upfront cost installation,” Jonathan added, “it is within reach for the everyday consumer.” Joey Jachowski

@MEDIAPLANETUSA

@FUTUREBUSINESSTECH

What Are Financial Well-Being Programs and How Can They Help? Financial well-being programs are garnering an increasing amount of attention. These programs help workers address their financial needs, from budgeting and saving for retirement to paying off student loan debt.

he 2020 Retirement Confidence Survey, conducted by the Employee Benefit Research Center and Greenwald & Associates, examined which programs could be helpful for worker retirement preparation. In particular, approximately 80 percent of workers said that programs on managing competing financial priorities and emergency savings would be helpful in their retirement preparations. Looking towards the future While financial wellness programs offered by employers could help reduce debt, an additional by-product of these

programs could be encouraging higher levels of retirement savings. Many workers report that debt is hindering their ability to save as their current finances are taking precedence over savings. For the most part, workers can’t focus on their future financial needs without first getting a handle on their current situation. Programs allowing participants to calculate how much they need for a comfortable retirement and providing education or advice on how to convert assets into income are also said to be helpful in retirement preparations. Therefore, financial well-being programs benefit all workers, whether they can immediately save or not.

A balancing act Due to the COVID-19 pandemic, many workers are facing harsh economic conditions and are likely to be left with unpaid bills or greatly depleted savings. Financial well-being programs could be an important vehicle that workers use to get back on track as the economy improves. However, employers will soon be facing demands to cut benefits. How employers navigate the competing demands of helping employees while also containing costs in a period of reduced revenue will have a profound impact on employees’ retirement. n Craig Copeland, Senior Research Associate, Employee Benefit Research Institute

INQUIRIES: US.EDITORIAL@MEDIAPLANET.COM AND US.ADVERTISE@MEDIAPLANET.COM

PLEASE RECYCLE

Publisher Chandler Bishop, Adare Kennedy, Neetu Wadhwani, Katie McNerney, Eliana Marzullo, Abigail Hanania Business Developer Abraham Freedberg, Mac Harris, Joelle Hernandez Managing Director Luciana Olson Lead Designer Tiffany Pryor Designer Celia Hazard Lead Editor Mina Fanous Copy Editor Kathleen Walsh Director of Sales Stephanie King Director of Product Faye Godfrey Cover Photo Courtesy of Peter Lorimer All photos are credited to Getty Images unless otherwise specified. This section was created by Mediaplanet and did not involve USA Today.

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

MEDIAPLANET

Pursue prosperity together Top talent helps your company reach goals. We’ve discovered that when you offer your employees financial wellness, you’re giving them the opportunity to reach goals. That’s more important than ever. During crisis, employees want more guidance. It’s true across age, gender, and income.

70% of employees want financial wellness1

83% say financial wellness works 1

86% want more guidance right now 2

Less stress, burnout and absenteeism. More staying power. UBS Financial Wellness has the right mix of people and technology to help your employees achieve lifetime financial well-being. That improves your culture, and your bottom line, because it helps you attract and retain top talent.

Proactive outreach Emails to drive awareness

Digital resources For all knowledge levels

Live e-days Educator led webinars

UBS Financial Coach For every employee3

Help give your employees (and your company) a better chance to prosper. Contact us to learn how at UBSCorporateServices@ubs.com

UBS research on employee attitudes towards financial wellness programs, April 27 - May 1, 2020 UBS Participant Voice, July 2020 Certain services may be limited in non-US jurisdictions. Financial Coaches are Registered Representatives of UBS Financial Services Inc. Member FINRA/SIPC © UBS 2020. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. Exp: 9/30/2021, RC1910, 2020-306686 UBS Financial Services Inc. ubs.com/fs

2 3

Consumers are unfamiliar with important aspects of their health plan. Only 9 percent of the age group newest to the workforce (Generation Z) knew their out-of -pocket maximum. Consumers can ease financial worry by taking small steps to improve financial health. Only 15 percent of consumers frequently save money specifically for future healthcare expenses. However, 52 percent of consumers said that they frequently or occasionally worry about current or future medical bills. Consumers are less confident in their physical health and their ability to manage their health needs. Only 21 percent of consumers said they made changes to improve their finances related to healthcare. Fortunately, 87 percent agree their health insurance plan helps them attain medical services needed while managing costs. Understanding the obstacles of health and wealth engagement can help you better tailor your employee communications and health benefits offerings. Stephanie Meyer, Chief Marketing Officer, HSA Bank

Employee benefits and expectations are shifting in response to the COVID-19 pandemic. The question remains: what will the new workplace normal be when the pandemic ends? Johnny C. Taylor, Jr., president and CEO of The Society for Human Resource Management (SHRM), the world’s largest human resources association, says employers are committed to offering greater flexibility for employees during the COVID-19 pandemic. “When considering telework, childcare, or paid time off, freedom and flexibility are the strongest forces shaping benefits today,” he says. According to SHRM’s research, 68 percent of organizations say they plan to adopt more flexible work-from-home policies for all workers. Over 1 in 4 organizations will probably allow employees to permanently work remotely, and nearly 6 in 10 organizations say they will handle childcare accommodation requests on a case-bycase basis.

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

People-centric benefits Organizations need to prioritize their workers by offering people-centric benefits. “Reflect and look for ways to innovate and tailor benefits to the particular needs of your unique workforce,” says Taylor. For example, employers are focusing on workforce development. SHRM research shows that 68 percent of organizations have maintained their budgets for reskilling and upskilling during COVID-19, while 6 percent of organizations have increased their budgets. The top areas of development include training employees on new technology and equipment. Organizations are also paying attention to employees’ mental and physical health. SHRM research indicates that over 22 percent of employees report experiencing symptoms of depression, including feeling tired, having trouble concentrating, and having little interest or pleasure in doing things. “Expanded benefits may include telemedicine for mental health

HR FS

Amidst a pandemic, healthcare and finances top the minds of many. Yet prior to its onset, the third annual HSA Bank Health & Wealth IndexSM revealed varying levels of consumer health plan understanding or savings to cover healthcare costs.

What You Need to Know About Employee Benefits PostCOVID-19

How Can Employers Improve Wealth Engagement Among Their Employees?

PHO

C O:

services, wellness programs to manage stress, and expanded employee assistance programs,” says Taylor, noting organizations may consider surveying employees to see what new or enhanced benefits they are interested in. Despite these shifts, it may be challenging for employers to add or change offerings if they are not yet approaching benefit renewal dates. It can also be difficult to find the right vendor at an affordable price. The new normal Navigating this new workplace normal can be challenging and stressful for all employees. Taylor urges everyone to be there for each other. “The challenges and risks may differ depending on the details of our lives and circumstances, but you can bet everyone you know is currently fighting a battle of their own,” he says. “That’s why it pays to take the time to check in and make people feel seen and appreciated.” n Kristen Castillo MEDIAPLANET

This CEO Knows a Thing or Two About Workplace Relocation Katrina Helmkamp is the CEO of Cartus, a relocation company, and in an exclusive Q&A she’s answering a few important questions about changes to the workplace in the wake of the pandemic. How do you feel the workspace is going to change once companies return to the office? Based on our own plans and our clients’ plans, we foresee having regional headquarters in addition to worldwide headquarters. Taking safety into account, headquarters will be redesigned to focus more on collaboration space, with “hoteling” options for individual workers coming into the office for the day. Manufacturing plants and distribution centers have already implemented new layouts and safety protocols, and they will continue to increase automation options to further support safe distances for their associates. Cartus also plans to be creative in renting indoor or outdoor venues for occasional team-building events. Describe how technology has changed the scope of your organization. Corporate-paid relocations, whether domestic or global, naturally require the tight coordination of a myriad of services to make the move seamless for a new hire. While still offering a “personal touch” and advocacy, Cartus has deployed innovative technology to provide 24/7 support and guidance when relocating employees. There is also a centralized mobility hub used by HR managers overseeing hundreds to thousands of transferees and assignees. We have also leveraged our historical data on millions of moves into predictive analytics to anticipate and solve issues before they occur. Technology is also automatically completing some repetitive tasks for our relocation consultants, allowing them to focus more of their time on providing trusted guidance and counseling to the relocating employee and their family. This has been paid for by Cartus.

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Take Care of Your Employees and They’ll Take Care of Business Johnny C. Taylor Jr., president and CEO of Society for Human Resource Management (SHRM), and Sudhir Tauro, Head of Employee Wealth Services with UBS Workplace Wealth, explain why it’s important for companies to prioritize employees’ physical, mental, and financial well-being.

Johnny C. Taylor Jr. President & CEO, Society for Human Resource Management (SHRM)

Sudhir Tauro Head of Employee Wealth Services, UBS Workplace Wealth

Why should organizations invest in their employees’ health and professional growth? JT: A public health crisis, an economic downturn, and social injustice has put an unprecedented amount of stress on employees. When we don’t feel our best, mentally or physically, we can’t perform our best. It’s that simple. Whether it’s providing timely and important resources, delivering professional growth opportunities, or offering counseling and other support, HR professionals can play an integral role in making workers feel safe, secure, and looked after.

ST: Financial wellness programs help employees feel dramatically better about their financial well-being, which, in turn, positively impacts their overall health. These programs generate higher employee satisfaction, motivation, and loyalty, providing organizations a competitive edge in acquiring and retaining talent. What is the biggest obstacle companies face during this time when trying to improve workplace wellness, engagement, and retention? JT: COVID-19 has further blurred the already hazy lines between work and home life, creating a new kind of blended reality. Research found 41 percent of employees are feeling burnt out, and 65 percent of employers say maintaining employee morale has been a challenge. In many ways, HR is quarterbacking this crisis, striving to strike the right balance between the dual needs of business and people, while doubling down on company values and principles in the process. ST: Awareness and understanding of [company] programs is key. The same UBS study found almost half of employees would choose to participate in their company’s financial wellness program if they knew about it. Furthermore, while

most financial wellness programs offer a variety of tools and resources, they lack the necessary features to be effective and to encourage employee adoption. What is one industry trend that is helping to combat these major challenges? JT: For one, employers are offering greater flexibility in when, how, and where work gets done. In fact, SHRM research shows 68 percent of organizations will probably or definitely adopt broader, or more flexible, work-from-home policies. Additionally, we’ll see a greater focus on employees’ mental and physical health, including access to telemedicine for mental health services, wellness programs to manage stress, and expanded employee assistance programs. Above all, it’s important for HR and business leaders to be “extra” in taking more time to check in with employees. ST: Due to COVID-19, employees of all ages and income levels are more interested in addressing their financial well-being. At UBS this year, we’ve seen a 700 percent increase in employee enrollment in wellness programs by their employers and a dramatic surge in employee demand, with triple the number of coaching appointments. n

Work Reimagined: Rewriting Your Global Talent Roadmap To remain financially and physically healthy, companies reimagine work with virtual teams, workspace agility, and leaning into vulnerability.

s the industry leader in corporate relocation, Cartus has a front-row seat to the global talent strategies that the world’s top companies are adopting to align their employee benefits programs —

including company-sponsored relocation packages — to today’s new reality with COVID-19. We have partnered with our parent company, Realogy (NYSE: RLGY), to synthesize best practices for today’s global teams.

How and where Most people are familiar with the change management framework of “People, Process, and Technology.” However, we must now wrestle with a fourth variable: Place. Yesterday, the office was the de facto business environment. Today, our globally distributed workforce must be set up to succeed from anywhere. Consequently, Cartus is focused on optimizing three key factors: 1. Talent: Individual employee + job design + location 2. Technology: Hardware, software, automation, digitization 3. Culture: People management, executive leadership, HR policies Properly executed, the result should be a high-performing and engaged workforce — one whose productivity and job satisfaction could increase 10 to 15 percent. At the same time, companies have to prioritize their employees’ mental and emotional well-being.

In the current environment, leaders must be much more intentional about maintaining the “human aspect” of work. Without the casual relationship-building that occurs during regular small encounters in the office, even strong cultures may degrade. Destination reimagination It may sound focus-grouped, but imagination is the secret sauce that will empower organizations to emerge from this crisis prepared to win in the world that is, not the world that was. While there is no perfect substitute for personal interactions, we must think carefully about why, when, and how we get together. What is the greater purpose? When we’re not together, how do we maintain that all-important human connection? And how can our newfound geographic flexibility strengthen our focus on diversity and inclusion? We may not have all the answers, but we’re not afraid to ask the questions. Together, we will rise to the occasion. n This has been paid for by Cartus. Katrina Helmkamp, President and CEO, Cartus Corporation

Corporate relocation

reimagined Whether you’re designing your ﬁrst global talent mobility program or relocating thousands of employees a year, Cartus delivers proactive, ﬂexible solutions that meet the unique needs of your business and employees, every time.

TECHNOLOGY without limits. SERVICE without bounds. Learn more at www.cartus.com/beneﬁts © 2020 Cartus Corporation. All rights reserved. Cartus and the Cartus logo are registered trademarks of Cartus Corporation.

MEDIAPLANET

ADVERTORIAL

Etsy’s CEO Shares the Success of Small Businesses During the COVID-19 Pandemic Josh Silverman, CEO of the e-commerce website Etsy, discusses how the pandemic has affected small business owners working from home. How do you see manufacturing and the small business supply chain changing now that many people are working from home? When the Centers for Disease Control and Prevention recommended that people wear face coverings, we saw unprecedented demand — it was like Cyber Monday every day in April. Because our sellers’ supply chain is their own two hands, they were better positioned to mobilize, immediately meeting mask demand. In April alone, more than 60,000 Etsy sellers pivoted to making masks and sold 12 million masks, demonstrating the agility and power of the Etsy platform. We are also seeing buyers putting their money where their heart is by choosing to support small businesses through these troubled times. What is one innovative thing you’ve learned by working with an Etsy seller? I’ve been moved by stories of small businesses like The French Bakery, a bakery out of Florida that had to temporarily close its physical store in March. The owner, Jean Jetter, opened an Etsy shop in March and has shipped thousands of pounds of his artisan flour and ingredients to homebound novice bakers across the country. It was a lifeline for him. I’ve also been inspired by the cultural movement to support Black-owned shops throughout the United States. Joselyn Allen, a talented jewelry maker in Brooklyn and owner of Shop Ubuntu, has more than tripled her sales since June. What are the advantages of working with a diverse manufacturing selling group? With over 2.8 million sellers from around the globe, and more than 65 million items in our marketplace, Etsy has an incredible advantage in an increasingly commoditized world. We can help people find unique, handcrafted, and curated items that celebrate special occasions, as well as everyday essential items. 8

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Is Another Manufacturing Renaissance on the Way? As we face health and economic crises, manufacturing is answering the call to protect communities and creating innovative solutions for a bright future ahead.

hroughout the 20th century, manufacturing played a central role in growing the middle class and the American economy, creating new communities, and enhancing this nation’s living standards. Then around the turn of this century — for a variety of reasons, some internal and some external — production started moving offshore, U.S. innovation and productivity started lagging, and the sector started shedding jobs. American manufacturing was further stymied by the Great Recession. Factory output plummeted 20 percent, and the sector lost 2 million jobs. By 2010, China surpassed the United States as the global leader in manufacturing output. Many thought American manufacturing was dead, and some even questioned the need for a vibrant industrial base. It turned out manufacturing in this country was far from dead. As the United States slowly emerged from the Great Recession, manufacturing was a main driver behind the early years of the recovery. Rather than the death of manufacturing, politicians and economists started talking about an American manufacturing renaissance. An economic rebound Now as the country starts its slow climb out of another deep economic hole, manufacturing promises once again to play a key role in our rebound. This is inevitable because while federal data — which defines the sector and its jobs very narrowly — suggests manufacturing represents about one-tenth of the economy, our research shows that the entire manufacturing value chain actually constitutes about one-third of U.S. gross domestic product. Moreover, manufacturing’s multiplier is 3.6, which means for every $1.00 spent in manufacturing, the sector generates $3.60 of value added elsewhere across the U.S. economy. That’s a greater impact than any other sector. And now this engine of growth is once again in resurgence. As devastating as this year’s societal and economic crises have proven, conditions also forced manufacturers’ hands. Like other busi-

nesses, they had to rethink their business models and their workforce protocols. Suddenly, investments and concepts that may have been postponed for years are now on the drawing board. New opportunities Manufacturers will now hit the accelerator on digital transformation. Our 2019 Manufacturers Alliance and Deloitte study showed that 85 percent of industrial manufacturers see smart factory initiatives as the main driver of manufacturing competitiveness in the next five years. However, only 1 in 5 were moving toward complete transformation of at least one factory. That will change. Expect to see a dramatic increase in smart factories with cyber-physical systems, robots teaming up with humans, and networked supply and distribution chains. This, in turn, will create not only increased efficiencies and more optimized production, but consumers will also see far greater customization, as well as new product distribution capabilities. Manufacturers will also create new opportunities through virtual workforces. Closing shop floors during the pandemic caused manufacturers to remodel how people work in factories. The growth in artificial intelligence, automation, and augmented reality programs will increase these employees’ ability to remotely control many operations, which will lead to increased productivity. This becomes all the more likely as the need for remote interaction accelerates the adoption of 5G technology. With speeds of up to 100 gigabits per second, 5G could be 100 times faster than 4G. Such a transition will allow for higher flexibility, lower cost, and shorter lead times for production reconfiguration, layout changes, and alterations. The United States’ manufacturing renaissance is coming. Its revival will not just help our economy rebound, it will spur innovation, technological advances, and higher living standards across society. n Stephen Gold, President and CEO, Manufacturers Alliance for Productivity and Innovation MEDIAPLANET

Fishbowl

The #1 Manufacturing Software Solution for QuickBooks Users As economic pressures increase, inventory management has never been more crucial to the manufacturing industry. You need to be able to keep a close eye on your raw materials and finished goods while also being flexible enough to adapt to changing conditions. It’s all about maximizing your monthly cash flow by automating critical business processes. The way to do that is to use an affordable software solution like Fishbowl Manufacturing, which is ideal if you’re a QuickBooks user because it’s the #1 selling manufacturing and inventory management software for QuickBooks.

With Fishbowl Manufacturing, you can engage in lean manufacturing, just-in-time manufacturing, and other cost-cutting measures. Here are some of the advanced features that empower you to improve your

manufacturing and warehouse management processes:

• Generate new bills of materials for a variety of manufacturing jobs

• Add labor costs to the total cost in a bill of materials

• Manufacture, repair, replace, and customize products

• Set up automatic reorder points on products to prevent stockouts

• Check goods’ statuses by their production stage

• Seamlessly integrate your inventory data with QuickBooks

• Finish batches of work orders at the same time

• Track inventory in multiple warehouses and other locations

Fishbowl Manufacturing might just be the exact solution you’ve been looking for to

Call 1-800-774-7085 Ext. 1 or visit www.ﬁshbowlinventory.com/learn-more to ﬁnd out!

help your company make it through this trying time.

• Pick, pack, and ship items in batches for speedy order fulﬁllment • Manage vendors, delivery schedules, payment terms, and contacts • Schedule tasks and assign them to workers to ensure accountability

Three Experts Explain the Sea Change in the Manufacturing Industry John David King CEO, FishBowl Inventory

Grant Geyer CPO, Claroty

Stephen Gold President & CEO, MAPI

John David King, Grant Geyer, and Stephen Gold answer questions about the new workforce changing the face of American manufacturing.

How is your industry benefiting from the country’s renewed focus on U.S. manufacturing? JDK: There are a variety of software solutions that simplify all the steps, allowing a manufacturer to sell directly to customers or resellers without overspending on raw goods or missing sales due to stockouts. Just knowing where everything is at any time and ensuring that no stage of the manufacturing process is stalled due to missing parts or delayed subassemblies is money in the bank. GG: U.S. manufacturers across the automotive, food and beverage, chemical, and other sectors are 10

digitizing their operations to enable strong competitive advantages. However, new digital technologies also introduce new cyber risks that could negatively impact business. The more that business leaders come to understand the gravity of these risks, the clearer it becomes that cybersecurity tools are essential to succeeding with digitization. SG: Considering the importance of the sector, the renewed emphasis on manufacturing has increased policymakers’ focus on the policies needed to ensure a vibrant sector — from regulatory and immigration reform to R&D tax credits, more balanced trade policies, and the creation of the National Network

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

for Manufacturing Innovation. It has also helped drive the increased emphasis on STEM education in this country. How can we change our country’s perception of the skilled labor profession? JDK: Today’s skilled labor professional is a highly educated and tech-savvy professional. These careers are much different than what most people imagine when they talk about manufacturing. Taking these career opportunities down to at least the high-school level will help change perceptions and give kids many more career options they maybe didn’t know existed.

GG: The transition of America’s workforce is well underway, as U.S. manufacturing facilities are increasingly leveraging highly sophisticated and best-in-class technologies to power the fourth industrial revolution to run efficiently and maintain a global competitive advantage. As a cybersecurity professional, I’d be remiss not to advise manufacturers to think about cyber threats and take proactive steps to protect their new digitized systems. SG: As a society, we need to reform our cultural bias against careers involving technical skills and encourage our school systems not only to focus on STEM education, but on career and technical training education as well. n

Country Star Brantley Gilbert on Supporting Farmers and Veterans The “Hard Days” singer shares how he supports farmers and small business owners while on tour. How have you implemented responsibly manufactured products into your life via your collaboration with the Farmer Veteran Coalition? When we were getting ready to head out on our Fire’t Up Tour, we wanted to find a way to make a positive impact on the communities we were passing through, so it just made sense to partner with the Farmer Veteran Coalition (FVC). Through FVC, we were able to purchase locally sourced meats, dairy, and produce for catering on our tour stops. We fed our crew while supporting

our veterans and American farming. Unfortunately, we’ve had to put our tour on hold, but we were able to support local farmers through the first leg. Even though we didn’t get to see it all the way through this year, we know farmers and American workers need our support now more than ever, and we look forward to continuing our partnership in the future. Why have you decided to work with local farmers and caterers? And how can people change their daily habits to support small businesses?

I think being from and living in a small town makes you really appreciate working-class Americans and small businesses. While on the tour, we invited the farmers to come to our show and have dinner with us to show our appreciation. Hearing their stories only made it more apparent how important it is to support them. If folks take the time to think about their own purchases, they’ll see that many items they use every day can be bought from a locally owned small business. In turn, they’ll know exactly where their products come from, while having the sat-

isfaction of knowing they helped boost their local economy. How can we change the lives of veterans and small business owners? When many veterans return home, they’re looking to find a place in their community. Farmer Veteran Coalition understands this and provides them with resources. Supporting veterans and small business owners means supporting their livelihood, but it goes beyond that. It shows appreciation for the hard-working men and women in your commu-

nity that provide resources we need to live happily and comfortably. Supporting small business owners helps to provide them with the ability to live happily and comfortably, too. The United States has the resources to eradicate hunger. How can larger businesses aid in this pursuit? A good starting point would be to recognize the amount of food and resources that go to waste in larger businesses, and then find a way to give that excess to those who are in need. For example, we also partnered with Musically Fed for our tour. Musically Fed is a nonprofit that takes excess food from tours and big events like the Grammys and redistributes it to organizations who work to feed the hungry. n

BUILT FOR MANUFACTURERS Claroty secures the operational technology (OT) environments for 10 of the 20 top manufacturers in the world. We can secure yours, too. Visit us to learn more. claroty.com

MEDIAPLANET

An Industry (Still) In Crisis

Here’s What One Hospitality Graduate Student Has to Say About the Industry’s Future

AIM

R EEN

Veronica Hsiao is in her second year of her Master of Hospitality Administration graduate program at the University of Nevada Las Vegas (UNLV), and she’s answering a few questions about why she’s passionate about hospitality and what she sees for the future.

I have always been a big believer of learning and development. Having been immersed in luxury hotel operations for a couple of years since the completion of my bachelor’s degree in Hospitality Management at UNLV’s Harrah College of Hospitality, it was time for me to expand my learning journey. What skills are you honing that you think will be most helpful to reentering the industry? Resiliency, along with selfmotivation and the will to learn new skills. People will want to travel again when it is safe to do so, however the industry will still take time to recover and change in a post-pandemic world. How has COVID changed your perception of your career path, if at all? If the pandemic has changed anything, it has taught me to be even more open-minded than I had always asked myself to be. It has also made me (and many of my friends in the industry) realize just how much we have grown and learned from our professional endeavors.

What was your inspiration for enrolling in an MHA program?

For restaurant workers, the global pandemic was devastating, but it only exacerbated problems that have existed for decades.

estaurant workers are experiencing a perfect storm of economic misery thanks to the COVID-19 pandemic that has shut down restaurants worldwide. But the pain began long before the disease. Prior to the pandemic, 16.7 percent of restaurant workers lived below the poverty line, and only 14 percent had health insurance through their employers. “In the second week of March 2020, it became very, very apparent that there was going to be a huge apocalypse in the restaurant industry,” said John deBary, co-founder and board president of the Restaurant Workers’ Community Foundation (RWCF). “The crisis isn’t over. It’s actually probably getting worse.” Hard work An award-winning professional bartender and former bar director for Momofuku, deBary was inspired to create the RWCF as he became aware of the many inequities baked into the way restaurants are traditionally run. Aside from the near-total lack of healthcare or other benefits, the $2.13 minimum wage for tipped workers results in rampant wage theft when restaurants fail to ensure workers reach the federal minimum wage of $7.25, as they are legally bound to do. Restaurant work is already incredibly stressful, and the pandemic has added the strain of worrying about their health and safety, especially when employees are faced with patrons who refuse to wear masks, or work

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

in an environment where pandemic guidelines are not followed. In crisis For many restaurant workers, the lockdowns that have shuttered restaurants and bars around the world is an urgent crisis which has left many with greatly reduced or no income at all. The RWCF launched the Restaurant Workers COVID19 Crisis Relief Fund in March 2020 and has raised over $7 million to help those in the industry who are struggling. While that sounds impressive, deBary points out that with an estimated 16 million restaurant workers in the United States, that amounts to less than 50 cents per person. While supporting your local restaurants can help, deBary warned that it’s going to take systemic changes to make a real difference. “People can confuse consumerism with advocacy,” he said. “But there’s only so much the consumer can do to prop up restaurants.” DeBary stressed that the need for change in the industry is nothing new. “We were in a crisis 10 years ago, 50 years ago, 100 years ago. This is not a case of just put things back together. This is a case of well, now everything’s broken and falling apart — how do we reimagine this so you don’t go back to this point where people are really suffering?” n Jeff Somers

Owning a Successful Franchise Takes Good Business Sense and, According to One Success Story, Gut Instinct Kimberlee Burrows, who opened her Clean Juice franchise this spring, explains why her personal journey, her faith, and her instinct are all intrinsic to her success. Kimberlee Burrows was supposed to open her Clean Juice store — a national organic juice bar franchise — in March of 2020. Then the pandemic hit. But by relying partly on her own experience and partly on intuition, Burrows made lemonade out of some pretty unexpected lemons. A question of faith When Burrows did decide to take the plunge, she said that her first priority was to find a brand she’d be excited to work with every day, and one whose company ethos and culture mirrored what she wanted out of her own life. She liked that Clean Juice is USDA-certified organic, as well as the company’s values. “One of the aspects to Clean Juice that really excited me was being a faith-based company,” Burrows said, explaining that her Christianity is very

important to her, and she liked how this element affects the company culture and brings a personal closeness to her interactions with customers. “There’s a humbleness, there’s a shared sense of purpose that’s at play. And when people walk in the door and you say ‘Good morning, how are you feeling, what can I do for you,’ it gives you a little bit of license to connect with people on a deeper level and to use your life to help enrich theirs, no matter how small it may seem.”

And most importantly, our consumers really wanted healthy food. They had been couch-potatoes for months.” And in a twist of fate, Burrows’s store opening coincided with a growing support of the Black Lives Matter movement, when people were eager to support Black-owned businesses. “They really got to know me, know my family, really support a business at a deeper level probably than they had in the past,” Burrows said.

Making the most As blessed as Burrows feels now, her current success certainly didn’t come cheap. Because her store was supposed to open at just the moment the country began shutting down due to the coronavirus, Burrows said she had to put a lot of thought into when and how she would actually end up opening her store. When she did eventually open in May, she said, “It was the right time, it was the right proposition,” adding, “I had an employee base that wanted to make money, that wanted to get back to work.

The right path Just as Burrows followed her own path in choosing to franchise, she advised any would-be franchisees to think about their own lives, goals, and desires before embarking on this business. “The most important thing is to just determine your personal ‘why,’” she said. “What’s the purpose of this next chapter of your career, of your journey?” n This has been paid for by Clean Juice. Lynne Daggett

MEDIAPLANET

PHOTO CREDIT: COURTESY OF VIE MAGAZINE; BREANNA KNEISS

Brittney and Brian Kelley On What Owning an AmericanMade Company Means to Them Brittney and Brian Kelley are co-founders and co-owners of Tribe Kelly, an American-made clothing brand dedicated to ethical manufacturing.

What was your inspiration for starting Tribe Kelley? Brittney: I was 19 when I met Brian, and I was shipping my handmade jewelry and clothing from my college apartment. When we got married four years later, I transitioned to living on a bus year-round, touring the world with him and his band. I knew I wanted to create an ethically made clothing brand alongside my husband. Brian: Brittney has always had a lifelong passion for making and creating anything — jewelry, dream catchers, leather goods, clothing. Once we were married, we pretty much went right on tour together and found ourselves having fun 14

customizing my outfits for the shows. The tour bus provided a unique, creative setting, and that exploration led to the birth of Tribe Kelley. How important was building a brand in the United States and with American-made supplies? Brittney: When we first started doing our research into manufacturing, it was almost immediately the obvious and most ethical decision to have our products made in the United States. After reading about other countries’ labor laws, or the lack thereof, we decided we would have the most control over our designs, and the well-being of who was helping us create those designs, if we produced them here in

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

the United States. It excites us when we are able to source American-made material and items even down to our threading, which is made with the highest quality and care in North Carolina. Brian: A fter doing our research, we knew we wanted to be an American-made company, and it was extremely important to support our economy and community locally. There’s a degree of quality control that we get by making our clothes here that we wouldn’t achieve elsewhere. We know for certain that our workers are paid fair wages and are working in a safe environment. What are some of the trends you’ve seen with manufacturing and

producing goods in the United States? Brittney: Right now, I think bringing medical supply production back to the United States might be one of the most exciting trends. We’ve seen so many of the industry’s American-made manufacturers, including our manufacturer, step up from day one to start sewing the necessary products needed. I think at one point our factory was only running medical supplies. What is the biggest challenge you’ve faced while producing in the United States? How did you overcome that challenge? Brittney: I think one of the biggest challenges you face

producing in the United States is that there are so many quicker lead times and lower prices marketed to you from overseas. Staying American-made and paying fair labor prices in comparison to brands who don’t may seem like a long, grim road to success in terms of financially profiting. But when you stop and listen to your customers’ feedback, you hear that people really are asking about where their clothes are coming from. Brian: Pricing here in the states has been challenging. It costs more to produce here, but it’s worth it to us. Finding a trustworthy and efficient production partner was challenging as well, but ultimately, that’s the key to success. n

The Intersection of Tech and Real Estate “Shark Tank’s” Barbara Corcoran and real estate professionals Jacob Chappell, Ethan Lieber, and David Krasinski, come together to answer the question:

Barbara Corcoran

Founder, The Corcoran Group; Shark and Executive Producer, “Shark Tank”

Jacob Chappell

Senior Vice President, Sales, SOCi

Ethan Lieber CEO, Latchel

David Krasinski VP, Customer Success, VS24

How has technology helped empower the modern property manager and change the industry? Barbara Corcoran: Real estate technology is booming and for good reason. It’s an industry ripe for innovation. New tools are helping brokerages and realtors move faster, more effectively, and with more efficiency. It’s a wave that’s taking off and if you’re not riding it, you’re being left behind. In this competitive field, it’s crucial to not just keep up with trends but to be a trendsetter yourself. Remember that the old boys get cocky and fall asleep at the wheel. It’s the new kid on the block that owns tomorrow. Jacob Chappell: Technology has empowered property managers to market more effectively and efficiently, ultimately leading to longer-term tenants and higher occupancy. In property management, online reputation is key. Ratings and reviews can be a huge asset for multi-family marketers when used effectively. Data from SOCi’s 2020

Localized Marketing Benchmark Report found that ratings and reviews are the No. 1 factor consumers consider when making a purchasing decision. If your local properties have a robust strategy for online reputation management in the form of ratings and reviews, results will follow. Through leveraging happy residents and encouraging them to leave positive online reviews, you can attract the right type of tenants who are properly researching where to lease their next home. Ethan Lieber: Technology that allows for syndication of rental listings has helped increase the volume of reach to potential tenants. By being able to streamline your listings across multiple platforms, property managers can significantly increase the amount of eyes on any given listing. Tenant screening technology helps filter out applicants that would not qualify for the particular vacancy

so the leasing team doesn’t have to sift through a stack of unqualified applicants. In today’s age, renters want fast turnaround times when they call for repairs and they want their home to be comfortable and convenient. The best property managers leverage technology platforms to increase maintenance responsiveness. David Krasinski: Renters who feel like they’re coming home as soon as they walk into a unit are more likely to stick around for the long-term. Technology can help renters picture themselves living in a unit before they ever step foot in the door. Virtual staging eliminates clutter, balances imperfections, and lets tenants get a good feel for what it would be like to live in a property. 3D virtual tours allow renters to walk around and “see” the property without taking a physical trip. Use these technological solutions to help tenants decide to rent your unit.

HealtHier SPaCeS. HealtHier BOttOM liNe. Trane, a single-source manufacturer and supplier, helps property managers improve Indoor Environment Quality (IEQ) and the bottom line through Tranquility – an integrated, custom approach to creating comfortable, energy efficient spaces. Learn more at trane.com/propertymanagers

MEDIAPLANET

As American Lifestyles Change, the Apartment Industry Is Changing Too The apartment industry houses nearly 39 million people, and demand for apartment living is growing. In fact, the industry will have to build at least 4.6 million apartments by 2030 just to keep up with demand.

omorrow’s renters’ needs and wants will be very different thanks to game-changing shifts. This is the premise behind the National Multifamily Housing Council (NMHC) report Disruption: How Demographics, Psychographics and Technology Are Bringing Multifamily to the Brink of a Design Revolution. The report digs into tectonic shifts that will radically

reshape residents’ expectations and experiences, as well as what the industry needs to consider in designing, developing, and operating new communities and apartment homes. Technology Technology will be part of the core design of communities rather than an add-on. Smart home automation and artificial intelligence will drive innovation and

Reliable, modern ﬁtness equipment for your space, your budget and the people you serve.

learn more at visionfitness.com

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

technology will enrich the resident experience. Marketplace E-commerce has reset consumer expectations, with the balance of power shifting to the consumer. As real-time and personalized purchasing experiences become the norm, a lifestyle-focused, flexible, and highly personalized apartment is as important as location and layout.

People In the coming years, apartments will have to serve a greater variety of households and housing needs. NMHC’s 2018 Consumer Housing Insights Survey found 83 percent of respondents believe it is important to have a space that evolves with different stages of life, while 78 percent believe it is important to have a space that can transform to meet different needs. Adaptability in physical components of community construction will be valued. Employment Mobile technology, telework, growth in non-traditional jobs, and increasing participation in the gig economy are disrupting where, how, and for how long people work. Residents will expect to have the infrastructure associated with offices, such as high-speed internet and

co-working spaces, provided within their communities. Transportation A revolution in transportation is underway. Ride hailing and sharing, electric, and driverless cars stand to challenge parking assumptions and free up millions of square feet of parking space. Apartment communities will need to adapt to fluctuating parking needs and an increasing diversity of mobility options. We are already seeing other real estate classes — office, hospitality, retail, and restaurants — evolve with these broader changes, so it would be a mistake to think we’re exempt from this disruption. The apartment industry must begin thinking about how to adapt to these shifts or risk facing a disconnect with their future customers. n Colin Dunn, National Multifamily Housing Council

COVID-19â&#x20AC;&#x2122;s Impact on Housing By the Numbers

The COVID-19 pandemic has had a profound and wide-reaching impact on residential real estate, which could get worse without additional financial assistance. At the beginning of the COVID19 crisis, apartment owners and operators quickly pulled together and implemented strategies to protect the health of their staff, their residents and their businesses. Adapting to a pandemic As the weeks turned to months, and the overall economic impact of 30 million unemployed Americans crystallized, many in the industry worked with their residents on payment plans, waiving late fees, and other creative solutions to keep people in their housing. Further helping bridge the gap were federal, state, and

local relief efforts, including enhanced unemployment benefits and a one-time stimulus payment. However, as the pandemic continued, it became clear that this bridge was not long enough to ensure that the worst of the effects from missed or partial rent payments could be avoided. Calculating costs There exists a misconception that owners of rental properties enjoy large margins. In truth, on average, only 9 cents of every dollar of rent is returned to the owner as profit, with some of this further returned to investors, including public pension funds and real estate investment trusts, on which many Americans rely for their retirements. On average, approximately 39 percent of income from rental payments go toward the mortgage on the property

and roughly two-thirds of the industry have private lenders and are ineligible for federal mortgage forbearance provided by the CARES Act. Missed rent payments or reduced collections could lead to foreclosures, which puts all residents at risk of losing their housing. The need for more support As the pandemic wears on, and an increasing number of Americans find themselves unable to meet their obligations through no fault of their own, it should become clear that continued financial assistance will help avoid the cascading and deleterious effects of missed rent payments on the nationâ&#x20AC;&#x2122;s rental housing residents, the businesses providing and supporting housing, and the broader economy and society. n Bob Pinnegar, President & CEO, National Apartment Association (NAA)

UNLOCK SMARTER LIVING

From the entry way to the resident door and everywhere in between, SALTO Systems offers the most innovative, secure and stylish lineup of access control products on the market. Modernize your property and elevate the resident experience.

MOBILE ENABLED

Learn more at salto.us or call (866) GO SALTO

MEDIAPLANET

Eco-Friendly Rental Properties Benefit Owners, Tenants, & the Climate Today’s environmentally aware renters want to reduce their carbon footprint and live in healthy buildings that do not add to the climate crisis. Buildings are responsible for about 40 percent of America’s climate-warming carbon emissions. The materials and appliances inside them also affect indoor air quality, which is a major health factor. These significant impacts are not lost upon today’s environmentally aware renters, who are concerned about climate change and want to live in “green” buildings that will reduce their carbon footprint, not add to it. Efficient energy and water use is one of the cheapest and most important ways to reduce energy and water use and pollution in all buildings. It can cut waste with measures like better insulation, LED lighting, low-flow toilets and faucets, and tighter and better-designed windows. Even small efficiency improvements add up, cutting energy bills, improving indoor and outdoor air quality, and avoiding climate pollution because there is less need to generate energy from fossil fuel power generation to keep the lights and heat on. Energy-saving improvements in insulation, air sealing, heating equipment, and ventilation also improve indoor air quality by reducing contaminants, which have been linked to chronic respiratory illnesses. Improving the energy efficiency of the nation’s apartment buildings can put “green” back in the pockets of apartment owners and residents alike. Pat Remick, Natural Resources Defense Council

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Proactive Maintenance Costs More Now but Pays Dividends Later Property managers and landlords who address problems right away save money before those little issues grow into major hassles. If renting properties is your business, you should always be looking for new ways to maximize the return on your investment. The good news is that there are some very simple things you can do to achieve this goal without great hardship. Back in 1736, Benjamin Franklin said, “An ounce of prevention is worth a pound of cure,” and he’s been proven correct time and time again. Don’t wait for something to become a problem. Inspect your properties regularly, both inside and out. Second, listen to your tenants. Your tenants can serve as your eyes, nose, and ears when you’re not there, and they’ll warn you about a little problem before it becomes

a big problem. Sure, it’s a hassle to investigate a closet when a tenant tells you it sometimes smells musty, but it’s worth your time and money to address their concerns early. While we’re on the subject of tenants, treat yours with care, respect, kindness, and provide good service. Happy tenants will rent your properties longer, which means less turnover and more consistent income for you. If your tenants stay only a year or two, you could be a reason why they’re moving out, and anything that increases turnover is simply not good business. Next, locate the source of the problem. What’s causing that musty smell? Is there a leaking or sweaty pipe nearby, or is there a small hole in the roof? You want to find the source of your problem, you want to correct it, and you want to make sure that it doesn’t become a problem again. Sometimes this costs

you a little more at the beginning, but having to fix the same problem repeatedly is a waste of your time and money. Finally, make proper repairs. In that musty closet, for example, once you’ve found the source of the moisture, you should remove the affected carpet, pad, and drywall. Open the windows to allow fresh air to circulate, clean the subfloor and wall studs, then point a fan directly at the cleaned area to dry it quickly. Finally, put everything back together with new flooring and drywall. Follow only one or some of these steps, and you could have future problems with this repair. These little problems are annoying, but big problems are expensive and don’t go away on their own. Proactive maintenance yields great dividends. n Christopher Bloom, National Center for Healthy Housing

An Expert’s Fool-Proof Guide to Home Staging Home staging is more important to attracting potential renters than you might think, so here are a few expert tips for creating an inviting home space.

etail stores do it all the time. They hire merchandisers to set up each area to create the ideal buyer’s experience. Millions of dollars are spent on consumer studies and buying habits. When we bring this concept into the real estate market, it’s referred to as home staging. The goal is to create an emotional connection with each space as you define its purpose. What would you find in a typical living space? Sourcing the right sofa, side chairs, coffee, and end

tables that meet the ideal target buyer is done easily with a professional. The second must for every rental property is displaying a functional office space. Now that working from home is more prevalent than ever, setting up a proper work zone is crucial. Define a space that is separate from noise and distraction so renters won’t second-guess. You should also incorporate accent lighting throughout the property. Sixty to 75-watt bulbs throughout give the space a soft

white glow. Consistent hues in the main lighting, combined with a layer of accent lights, such as table and floor lamps, create an engaging atmosphere. If there is a balcony or patio area, it is imperative to display a sitting area, and add soft cushions and pillows to attract interest. If there is a good view, make sure it is the focus of the space. Stage the balcony or patio with wood elements, accent mirrors, and greenery to connect it to the outdoors. The gourmet kitchen cannot be ignored. These spaces are now created and designed as the Grand Central Station of the home. Display a coffee station, cutting board, and wine set-up to create a story picture of the activities we all dream about doing in our ideal kitchen. Finally, create a dream zone in the master retreat. Decide on the ideal bed size based on the size and price-point of the property. Incorporate a sitting or lounge area if possible and add soft and warm layers of bedding, pillows, area rugs, and throws. This space and the master bath must speak luxury and rest. Try professional staging and see what your results produce. You will be pleasantly surprised by the outcome. n Jana Uselton, Founder, Home Staging & ReDesign Association

The Uncharted Waters of Pandemic Property Management The COVID-19 pandemic has impacted every facet of our lives, especially our finances. Unemployment claims are still trending upwards, and nearly 20 percent of renters — almost 15 million people — are behind on their rent. That puts immense pressure on landlords. Jeff Cronrod of the American Apartment Owners Association (AAOA) is acutely aware of the situation. One way that the pandemic has affected rental properties is the amenities that tenants see as valuable and necessary. “Pre COVID19 there was an emphasis on luxuries such as gyms, valet and concierge services, and additional security,” Cronrod noted. “Since COVID-19, tenant amenities have given way to rationing the use of common areas like gyms, pools, and common recreation areas.” Aside from security, which Cronrod stated is always a priority, the new approach to amenities is more practical than luxurious. “Managers are spending much more on cleaning and adding touchless entry systems and contactless service,” he said. When asked about how managers and landlords should adjust their approach, Cronrod noted that property managers are actively working to deal with pandemicrelated problems. “Many are deferring or reducing rent or offering offsets like having a tenant do property maintenance in lieu of rent.” Still, Cronrod sees the potential for trouble down the road. “We see most people working together to get through the current crisis, but very few are planning how to deal with the long-term impact for both sides.” Jeff Somers

MEDIAPLANET

Making Your Rental Property More Sustainable Doesn’t Mean a Total Overhaul On her blog, Condo Blues, Lisa Nelson Woods offers tips and tricks for greener living practices and DIY eco-friendly upgrades. Here, she’s answering a few questions about what property managers and landlords can do to make their buildings more sustainable on the cheap. What are the biggest misconceptions that property managers, landlords, and owners have about going green? There are several cost-effective ways to upgrade what is already in the property instead of doing a total green replacement. If you can’t replace the property’s leaky windows, investing in reusable storm window inserts will not only save energy at a lower investment cost, but may head off any damage from the tenants covering the windows with heat shrink film every year. Instead of replacing a water heater, look into installing an insulated water heating blanket and, more importantly, double check the settings. What eco-friendly home improvements offer the best return on investment? I would start by considering upgrading to ecofriendly home improvements that are tied to any utilities you pay for the tenant. The tenant gets a greener space to live in and the landlord gets a lower water and sewer bill. Sometimes the little green things such as replacing carpeting with hard surface flooring and using no-odor, low-VOC paint can make a big difference.

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Wising Up With Smart Apartment Technology A recent survey reveals what residents are looking for when it comes to “smart” tech as well as what they’re not.

echnology increasingly is affecting all aspects of the rental housing industry, which itself is beginning to test the waters of smart homes, according to a recent survey from the National Apartment Association (NAA) on behalf of Maintenance Supply Headquarters. NAA conducted a nationwide amenity survey in the latter-half of 2016, which supplied a list of 43 amenities and identified which have been upgraded or added during the prior two years. The survey, “Technology in Apartment Living: Are We as Smart as We Think?” found advances in technology are challenging to keep pace with, but they do make operations and residents’ lives easier and more efficient. As the technology becomes more common, owners and operators will increasingly embrace it as a way to attract, retain, and better serve residents. Approximately 58 percent of residents found smart-home technology to be beneficial and an overwhelming majority — 84 percent — who don’t have smart-home tech said they would like

to see features implemented in their communities. Adding greater efficiency to their lives, as well as convenience and control, ranked highest among benefits for the resident respondents. Residents were most interested in thermostats and security cameras while smart lighting and door locks ranked high too. For residents who weren’t comfortable with smart-home features, privacy concerns were the No. 1 reason, followed by cost and an intimidating learning curve. Owners and operators who have not added smart-home features will find themselves falling behind. Waiting for a future-proof technology is fruitless if the industry continues evolving as it has during the past several years. Adding basic features like smart thermostats and resident portals goes a long way toward attracting and retaining residents. n Paula Munger, AVP, Industry Research and Analysis, National Apartment Association

MEDIAPLANET

There’s Value in Celebrating Your Tenants Research shows that building great relationships with your tenants pays off. Large apartment communities do a great job of celebrating their tenants, while management companies in the singlefamily and condo space often struggle. Here are some things the large apartment communities do to attract and keep the best tenants. You can do these things as well. Answer the phone: Answer all the calls that come in and provide the best customer service you can. Very few do this, so this sets you apart. Make the right first impression: Only show vacant homes that are rent ready. The best tenants only rent clean and attractive homes. Go online: Applications, lease signing, maintenance requests, and rent collection can all be done online these days. Personalize it: Provide move-in gifts or other special touches to your leasing and move-in process. Celebrate your tenants’ birthdays and the anniversary of leasing. Welcome interaction with your tenants. Get feedback: Survey your tenants after they move in and after maintenance is completed to make sure they are satisfied. Handle maintenance quickly, using professional vendors. Be fair: Be fair with a tenant’s deposit. Don’t nickle and dime them when they leave the place in great shape. This leads to less deposit issues, court appearances, and pleases the real estate gods. Steve Welty, Broker & Owner, Good Life Property Management

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

6 Red Flags on a Tenant Screening Report A basic credit report doesn’t always give you the full story on a potential renter, so landlords should be sure to do their homework.

landlords to consider the nature and severity of the crime and whether a conviction is considered directly related to the safety of your residents and your property.

Like most landlords, you probably obtain a credit and background check on every tenant, but it doesn’t matter how much data you have at your disposal if you don’t know what to look for. Are you spotting these red flags?

3. Public records Tax liens and lawsuits against your applicant increase their liabilities, potentially making it a challenge for them to pay rent in the future. Note that in addition to civil judgments, in 2018 all three bureaus removed all tax liens, so a credit report alone will only reveal bankruptcy public records.

1. Eviction records In 2017, Equifax, Experian, and TransUnion removed 96 percent of all civil judgments, including evictions, from credit reports. That’s why it’s crucial to work with a screening vendor that can access a robust database for eviction records. 2. Criminal records The Department of Housing and Urban Development’s (HUD) guidelines prompt

4. Negative credit history trends Applicants who habitually make late payments may be more likely to pay rent late as well. Secondly, an applicant who has missed multiple payments within the past six months is trending negatively. If their bills are stacking up, rent could be next to go.

5. High debt to income ratio Just because someone has a decent credit score does not mean they can afford to pay rent. After you’ve asked for proof of income, look at the total monthly debt payments the applicant must make to stay current on their accounts. Is their income high enough to pay rent, all of their bills, and living expenses comfortably? 6. Identity verification issues Having the right name, date of birth, and social security number (SSN) is crucial for an accurate background check. Look for alias names, alternate SSNs, multiple dates of birth, or other warnings on the credit report to verify the information you entered is valid. n Alexandra Alvarado, Director of Marketing and Education, American Apartment Owners Association

Here Is What I Learned When I Made the Leap to Property Management Software

Inside Peter Lorimer’s Human Approach to Real Estate

PHOTO: COURTESY OF PETER LORIMER

Selecting and implementing new property management software can be overwhelming and a headache, so I’m sharing my experience to be your guide.

Star of “Stay Here” on Netflix, Peter Lorimer, explains why putting people first in real estate makes good business sense.

eter Lorimer says it was his knack for personal branding that gave him the skills to thrive in the real estate business. His overriding philosophy? Put people first. Lorimer’s real estate career kicked off at the turn of the century. When social media began picking up steam in the middle of the decade, he seized what he saw as a unique marketing strategy. Lorimer took a creative, authentic approach to social media marketing, posting in his own voice, creating a human and approachable brand identity. “I set a task of being natural and talking about creative stuff and talking about real estate,” he said, which is why his creative community in LA enjoyed working with him, because he was a “fellow creative.” The personal approach Lorimer took to his social media presence extends to how he runs his business as a landlord as well.

He always recommends treating tenants like extended family. “When you have a great tenant, treat them like gold.” This means he doesn’t skimp on necessary repairs, he waits three years to raise the rent, and he even gives his tenants his personal phone number as well as that of the property manager. This kind of close, communicative relationship between landlord and tenant is unusual, but Lorimer said in his experience, people who have adopted this philosophy tend to be more successful. “There’s nothing more personal than somebody’s accommodation whether it be for the night, for the week, or for a year, or for life. Yet it has been handled in a very kind of impersonal way for such a long time that if someone is very personal and does express their belief structures and does express who they are and what they’re about, it makes you stand out,” Lorimer said. n

I chose a system that was adaptable to how I work since I didn’t want to reinvest my time in implementing new processes and disrupt my current operations. This probably cost me more time up front to configure it, but I now know how I can adapt as my business grows and changes. Customer service will be a big part of the start-up phase. How does the company offer their support services? Don’t forget to check with your other chapter members on what they use as well. I got some great insight from other users before choosing. Think about the future of your company, as well. Will the system be capable of growing with you or will you outgrow it and have to migrate to another system down the road and do it all again? I went with the cloud-based system because to be able to access your data in the field and make realtime changes can be a real time-saver. You will want to get the most out of the program because of your investment, but it will take time. Capabilities will continue to change and grow, and your software partner should be ready to commit to that. Tim Snelgrove, NARPM

Lynne Daggett

The All-In-One Platform for Your Localized Marketing Needs meetsoci.com/get-demo

MEDIAPLANET

Anthony Melchiorri Shares His Secrets to Dominating the Guest Experience in Your Vacation Property What makes your vacation rental property stand out among the rest? To Travel Channel host and hospitality mogul Anthony Melchiorri, comfort and safety is the name of the game. How important is it to invest in property insurance when renting your vacation property? I think it’s critical. You can go to sleep at night knowing that if, God forbid, a guest starts a fire in your rental, you’re still covered. If you don’t buy insurance for your vacation rental property than you’re not a business person, you’re just playing games. What’s one piece of advice you’d give property owners new to the vacation rental sphere? Go online, learn what becoming a property manager is all about, invest in a partnership with these vacation listing sites so that you can start maximizing your property presence and your profitability, and treat every guest that enters your vacation home like family. How has the term “guest experience” evolved over the past decade? Guest experience is your home. When you talk about guest experience, you’re talking about how they’re not going to a hotel, they’re going to your home. Everything you think about, from the bedding to the shower, is your home that you need to make feel like your guests’ home. Property managers are trying too hard to impress people, but not trying to make people comfortable.

Big Changes Are Happening in the Vacation Rental Industry As this lucrative industry grows, property managers have to adapt to big changes in growth, distribution, technology, and more. The vacation rental industry in the United States is now a more than 30 billion dollar industry, and short-term rentals are big business and headline news. This growth brings with it a powerful opportunity for professional vacation rental managers who can distinguish themselves in the space. There are a few primary forces making a significant impact on the industry. Growth The sharing economy has made vacation rentals frontpage news. From the astronomical growth of Airbnb to Expedia’s acquisition of HomeAway/Vrbo to Booking. com’s focus on the space, the traveler now has vacation rental options constantly at their fingertips. This awareness has brought about an upswing in demand, a change in the traveler, and a change

in guest expectations. Shorter stays, shorter booking windows, and younger guests focused on experiences are challenges that necessitate staying up-to-speed and ahead of the game to thrive. Distribution The actual relationship between the guest and their vacation is facilitated and driven by the property manager. Professional vacation rental managers know how to ensure a great experience in a clean, safe property where the guests will want to come back. This is the reason that, despite these innovations in distribution, many travelers still book directly with the management company. A recent study by VRMA showed that their members book on average about 40 percent of their bookings directly. Technology To better accommodate this demand and streamline operations, the technology leveraged by vacation rental managers has become increasingly sophisticated. From property management software sys-

tems that manage all aspects of a booking, to smart home technology like Amazon Alexa, 3D property tours and keyless entry, and high-tech monitoring systems, there is a significant amount of innovation taking place. Regulations Due to this popularity, there is an increased need to educate the public and regulators on the space. Professional property managers present a huge opportunity for states, cities, and towns to capitalize on this growing sector by instituting fair regulations that protect the consumer, provide a safe travel experience, and properly collect and remit taxes to the authorities. Professionalism The best way to harness and regulate this growth all comes back to professional vacation rental property managers. Members of VRMA, for instance, adhere to a strict code of ethics and have access to the latest education and information. n VRMA

Prep your place with aBundle.com We make it easier to outﬁt your home or vacation rental with hotel-quality sheets, towels, amenities and more. Save 10% on your ﬁrst order of $75+ Use promo code GETPREPPED Limit 1 use per customer • Offer expires 11/30/2020

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Learning the Value of Property Management Automation Property managers are learning the value of new technology that automates much of the management process and makes both tenants’ and landlords’ lives a little easier.

he value of property manin-person meetings — online meetings history, payment history, notifications, agement software is that can be done to be sure the new tenant lease, and also has a message center to it takes the friction out understands what they are signing, communicate when the need arises. of tenant management however, and is recommended. Notifications for inspection remindrelationships. “What does automation When you program the software to ers, added late fees, late payments, and actually do for a property manager” you manage the lease, the software takes more are all automated. And, of course, ask? It makes each step of the rental over and sends statements at correct any reports that the manager or owner cycle easy (or at needs is available with least it should). the click of a button. First, good propThere are new techSo now you can turn off the lights erty management nologies that allow that your daughter left on, check to see if the software is easy to management of mainkids are watching TV or doing homework, and learn and use by tenance and repairs be sure that you locked your door. all participants. to be done with the Webflyers used to property management advertise vacancies software. Some softare built-in and ware companies have can be immediately activated. Tenant intervals and allows the tenant to pay bundled other services like unit-showscreening is built-in and takes only a rent through a personal secure portal ing apps that allow the prospective few minutes to perform. Lease docuwhere all of the accounting for that tenant to go to the property alone and mentation is done via E-Sign and can payment is done automatically. The get in with a key code. It saves time for be accomplished in minutes with no tenant has full visibility of their rental the management company and is a safe

alternative when implemented and managed correctly. Smart home technology is another popular trend that can be used to improve the tenant experience. Any device in your home that uses electricity can be monitored and controlled through a smart phone or tablet. So now you can turn off the lights that your daughter left on, check to see if the kids are watching TV or doing homework, and be sure that you locked your door. Young people coming into the rental market are looking for these amenities in the places they agree to rent. But landlords need to know what their prospective tenants really want before investing in smart home technology. n This has been paid for by Smart Property Systems. Timmi Ryerson, CEO, Smart Property Systems

MEDIAPLANET

A Pivot to Regional Haul Could Help Support the Truck Drivers During COVID-19 Truck drivers have always been essential, and that has never been more clear than during the COVID-19 pandemic. Increasing regional rather than long haul trucking is just one way to support these heroes. COVID-19 opened a lot of people’s eyes to just how vital truck drivers are to our nation’s economy and in keeping store shelves filled with the things we need — and want. There was a great deal of uncertainty about getting goods delivered while keeping drivers and customers safe. But the industry rallied and made investments in PPE and took steps to make sure trucks were cleaned and sanitized to help protect drivers. Fleets have realized that more and more drivers don’t want to be out on the road for weeks on end; they much prefer to be home, if not every night then at least several times a week. Recognizing the value drivers contribute to the success of their operations, fleet operators have adjusted their business model to see that drivers get home to be with their families on a more regular basis. But make no mistake, even driving in regional haul is hard work. These drivers are often challenged with having to drive on local roads and in more traffic as they maneuver in cities and towns to make their deliveries. In some cases, they actually load and unload their own freight. Every day, truck drivers are on the road no matter what the weather brings, no matter the condition of the infrastructure, no matter how many detours or how much traffic. They do what they do so we can have the things we need and want when we need and want them. Mike Roeth, Executive Director, North American Council for Freight Efficiency

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Long Haul Trucking Is Still a Dangerous Job The trucking industry is fundamental to the American economy, yet the professionals working in this industry are often overlooked.

here are more than 3.5 million p ro f e s s i o n a l truck drivers, men and women, who get behind the wheel every day with safety first and foremost on their minds. These hard-working professionals deliver America’s food, fuel, medicine, clothing — every item in your home or office — safely and efficiently each day. The country’s backbone The trucking industry represents 1 in 16 jobs in the United States and is the top job in 29 states. In many ways the backbone of the United States economy, trucking moves 70 percent of the domestic freight. Safety is an important part of what it means to be a professional truck driver. Millions of drivers hold that responsibility sacred, and their efforts are paying off. Today, trucking is much safer than it was a decade ago and

is virtually unrecognizable compared with the image of the outlaw, renegade industry portrayed in the media in the 1970s and ’80s. Annually, the trucking industry invests over $9.5 billion in safety. These investments include safety technologies, safety training, driver incentive pay, and compliance with safety regulations. Today’s trucks are outfitted with technology and design elements intended to keep the truck, its driver, and cargo moving safely and efficiently. However, the most important piece of technology in the cab is — and will be for quite some time — the professional truck driver. Silent heroes Professional truck drivers see increasingly dangerous behavior on the road every day, yet they continue to improve their safety record even as they move more and more of the nation’s goods.

They give up time with their families, nights of sleep in their own beds and the trappings of home to deliver the medicine to our hospitals, the food to our restaurants and the clothes to our stores. The next time you head to the store and see the variety of products that are available on the shelves, think about the professional drivers that got them there. When you’re in your home or office, look around and realize all those items were at some point in the back of a truck before they got to where they are. When you’re out to dinner, think about the meal you’re about to eat and how the ingredients were very recently delivered by truck. Take a moment to be thankful for the efforts of America’s truck drivers and recognize that without them, your table, your closet, and the store would all be empty. n Kevin W. Burch, Chairman, American Trucking Associations,

New Legislation Considers Banning Security Deposits New legislation is trending nationwide to eliminate security deposits and give tenants more access to housing. Rental owners are finding a security deposit alternative may be the solution. It is painfully clear America is facing an affordable housing crisis unlike ever before. Tenant rights advocates point to security deposits as one major barrier to affordable housing. In response, many cities and states have limited how much of a security deposit a landlord can collect, but a new movement pro-

poses eliminating security deposits altogether. Cincinnati, Ohio led the way earlier this year with the passage of legislation that requires landlords to provide renters with three security deposit options: 1) A security deposit installment plan of 6 months or more; 2) A reduced security deposit of 50 percent of one month’s rent; or 3) low-cost security deposit insurance. California, New York, Virginia, Alabama, Connecticut, New Hampshire, and Pennsylvania have similar bills in the works, and with a pandemic only worsening the affordable housing crisis, many of these bills are likely to pass.

The hope is that renters with less money tied up in a security deposit will be more likely to succeed financially and access more housing. However, reducing or creating installment plans for security deposits are problematic for landlords who are left with little protection in case of rental losses, especially as more renters affected by the pandemic are falling behind on rent. The answer to help both renters and landlords may lie in using a low-cost security deposit alternative, such as LeaseGuarantee, which can still provide landlords with thousands of dollars of pro-

tection, yet the cost to renters is minimal. Unlike a security deposit, the fee is non-refundable, but it frees up cash for tenants. Tenants may also see their credit scores decline due to financial hardship from the outbreak, making them less qualified for housing. However, rental owners may be more inclined to accept tenants even if they do not meet their standard qualifications when the tenant’s rent is backed by a security deposit alternative. Interestingly, security deposit alternatives are trending in the rental industry even in places where progressive security deposit laws haven’t

been passed. Many rental owners, brokers, and landlords are using a security deposit alternative as a lease signing incentive to fill vacancies faster, without increasing their risk. It’s important to note that in states where legislation has been passed, tenants may still choose to provide a standard cash security deposit. The intent is to give tenants more options. That being said, the benefits and rising popularity of security deposit alternatives seem to indicate, this new leasing tool is here to stay as part of the “new normal.” n Alexandra Alvarado, Director of Marketing and Education, American Apartment Owners Association

MEDIAPLANET

Addressing the Health Needs of America’s Truckers Truck drivers in the United States face significant barriers to a healthy lifestyle, which is why it’s important to address these concerns to ensure quality of life for all trucking professionals. Drivers face many challenges when trying to live a healthy lifestyle, now amplified by the COVID-19 crisis. With restaurants and some truck stops closing temporarily, the need for drivers to be more self-sufficient is greater than ever as limited access to healthy food options and exercise has been difficult to overcome. To address this, the Healthy Trucking Association of America (HTAA) has health coaches that call and encourage drivers to make better health choices and they have provided a health station that allows users to sign in and track weight, BMI, blood pressure, and more. The only requirement to enroll is to call the program’s health coach and answer a few questions, and the HTAA will set them up with a plan that best fits their needs. Josh Mecca, Director of Recruiting, American Central Transport

Truckers Struggle to Find Food & Rest Stops During The Pandemic The coronavirus pandemic was hard on everyone and created particular hurdles for truck drivers in America with reduced access to food and hygiene.

one of us could have imagined the impact the coronavirus would have on all of us. Back in March, when the reality of the pandemic first set in, people were told to wash their hands, refrain from coughing, and, most importantly, to stay home. But the need for food, gas, toilet paper, and cleaning supplies meant that America’s supply chain couldn’t stop. Instead, professional drivers were on the frontlines as essential workers, and their wheels, kept rolling. It wasn’t just life as usual for these drivers. They were suddenly faced with more significant and sometimes insurmountable physical and mental challenges

each day. Because of cleanliness concerns, truck stops closed their restaurants, and some states shut down their rest areas. Shippers and receivers no longer allowed drivers inside their facilities to access food or toilets. These drivers were often unable to access food, as fast-food restaurants only offered drive-thru service, which couldn’t accommodate a thirteen-and-a-half-foot high truck. Walking up to the window was also prohibited due to social distancing guidelines. Limited food accessibility and restroom restrictions added to the physical and mental distress. At the Women In Trucking Association, we partnered with ESPYR, a behavioral health organization to

provide counseling for our drivers. The Fit to Pass program offers guidance in staying physically healthy to maintain their required department of transportation physical certification. The TalkNow program gives drivers and their families 24-hour access to a mental health counselor who understands the challenges of a professional driver. As we sheltered in place, our professional drivers kept the wheels rolling to deliver the milk, gas, food, and supplies we needed. They are truly our heroes, and we are proud to represent them. The next time you see a professional driver, thank her or him for their service as essential workers. n Ellen Voie, Founder, Women in Trucking

Nasdaq: IDEX

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

MEDIAPLANET

PROUDLY SUPPORTING AND HIRING OUR NATION’S SERVICEMEN AND WOMEN

We hire veterans – apply now at saia.com

How the Transportation Industry Is Handling an Aging Driver Population and Worker Shortage Ray Ramu is the executive vice president and chief customer officer of Saia, an American less-than-truckload (LTL) freight shipping and logistics company. In a Q&A, he answers questions about some of the most pressing issues facing the transportation industry today, and how trucking companies can attract and retain workers. What are the biggest challenges facing the truck driving industry today? Because of its size and complexity, the United States transportation industry faces many different challenges. The national driver shortage and well-documented aging driver population are serious issues that impact the industry. It’s important that carriers find ways to make a driving career appealing and more exciting so we can attract a younger driver pool. Why is truck driving a good career path for veterans? Veterans are a group of professionals that are well trained and disciplined. They can handle high volumes of work and demands. The transportation industry can be very challenging so a veteran’s experience in the military makes for a smooth transition. What is your organization doing to empower health and safety for drivers on the road today? With regard to health, we offer a benefits package that is second to none, including free medical after 10 years of employment. It also consists of a wellness program, Healthy Directions, which supports employees in their quest to live healthier lives. We also invest in a variety of technologies, such as driver assistance systems, to safeguard our drivers. This has been paid for by Saia.

READ MORE AT FUTUREOFBUSINESSANDTECH.COM

Truck Driving Can Be Dangerous, Which Is Why Drivers Need More Industry Support Though trucking is known to be occasionally dangerous to drivers’ health and safety, there are few industry safety nets or avenues of support from the top.

professional driver spends much of their time alone. For better or for worse, a driver receives little or no support for many of their job duties, or the challenging lifestyle. A truck driver’s personal health and safety is not monitored, nor is any support offered to the driver. It’s virtually all left up to the driver, to stay fit, healthy, and protect themselves. There is no governing body or support system to advise, offer advice, or make suggestions on how to best deal with the stressful, dangerous, and unhealthy lifestyle. Sales staff and dispatchers of a trucking company typically don’t hesitate to send a driver into a dangerous area. Drivers can be pressured to accept a load, but it’s only the driver who truly suffers if things go wrong in such a situation. And regarding a driver’s health, while many overlook or dismiss the harm of poor eating, rest, and exercise habits while on the road, they can become silent killers for the sedentary trucker. It was a sobering statistic for me to read

recently that the average life expectancy of a truck driver today is just 61 years old. That’s 17 years sooner than the average age of the rest of society in North America. But these statistics could be turned around easily with support for the professional truck driver. As strange as it may sound, the mandating of E-logs is helping drivers in this respect. A driver now has 10 hours off duty each day to eat properly, get some exercise, and sufficient rest. But it is still up to the driver alone to ensure they are ready to work again after the brief reset. Many trucking companies view the E-logs an “efficiency tool” to help them maximize their equipment use. But while the equipment may be “road ready” after 10 hours, it doesn’t necessarily mean the driver is also ready. This matter is a critical one. The wrong decision on the part of the driver may cost them their life and the lives of other motorists on the highway. We’ve all heard the saying, “Truckers keep America moving.” But our drivers need support in order to keep American moving. n Catherine MacMillan, Smart Trucking MEDIAPLANET

ONCE YOU SEE IT, YOU’LL WANT IT.

TMS EXPRESS CHANGES EVERYTHING. It’s the only all-in-one platform designed specifically for the trucking industry. A quick demo can change your operations by bringing together dispatch, fleet management, integrated accounting, and safety & compliance.

Schedule a demo

» go.pcssoft.com/TMSdemo | 800-474-8241

Discover Your Technology Roadmap Manufacturing Leaders Take a 16-question survey to get your digital health score—and receive recommendations on how to power up your business.

Get your checkup now at epicor.com/ healthcheck

Epicor Software drives business growth. We provide flexible, industry-specific software designed to fit the precise needs of our customers in the manufacturing, distribution, retail, and service industries. Terms, conditions and limitations apply.