BEST ADVICE Scott Sharp, TD Bank regional vice president
PAGE 4 VOLUME 27 NUMBER 1 ■ CHARLESTONBUSINESS.COM
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Why Charleston is a strategic location for career growth Editor’s note: This column by local executive and consultant Shawn Saulsberry originally appeared online and is published with permission as part of a special look at the coming year. More voices and insight can be found throughout this edition of the Charleston Regional Business Journal.
By Shawn Saulsberry
A
s a native of Charleston, one must think about why the city is not only a great place to live, but also a great place to build a career. Given these times of racism and social injustice, I also have to consider whether African
Americans, like myself, or indigenous people or people of color can actually have equal access to the components that make for a good career: education, experience, inclusion, mentoring, sponsorship and a broad network. In all honesty, See SAULSBERRY, Page 8
School focuses on in-demand hiring sectors
The Quin office project on the Upper Peninsula, one of Frampton Construction’s many projects, can be seen over a field of fog looking toward the Cooper River Bridge. Construction, which was a bright spot in 2020, is expected to remain robust in 2021.
Corps legacy
Citadel grad pledges $20 million to South Carolina’s military college. Page 5
ON THE
HORIZON
By Teri Errico Griffis
T
Upstate company’s product used to transport vaccine. Page 3
Daniel Island economist Stephen Slifer offers his outlook for several vital sectors leading the economy in 2021. INSIDE: Pages 15-20
Aerospace investing Charleston private equity firm invests in aerospace company. Page 7
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 In Focus: 2021 Year Ahead.... 15 List: Executive Recruiting Firms................ 20 At Work...............................23 Hot Properties......................28 Viewpoint............................29
tgriffis@scbiznews.com
he first year at Cooper River Center for Advanced Studies hasn’t gone exactly as principal Vanessa Brown had imag-
EXPECT ECONOMY TO SOAR ACROSS U.S.
Pulling together
Shawn Saulsberry. (Photo/Kim McManus)
BUSINESSES OFFER INSIGHT INTO 2021 The Business Journal asked area businesses to tell us about their aspirations and trepidations for the coming year. INSIDE: Pages 12-13
Where you’re likely to get audited in S.C.
These counties have a higher rate of federal tax audits. Page 2
ined. The 84,000 square-foot career center in North Charleston opened in September to young men and women currently attending Burke, North Charleston and R.B. Stall high schools as well as Military Magnet. Enrolled students have the opportunity to study seven career pathways — architecture and construction; manufacturing; transportation, distribution and logistics; health science; arts, AV technology and communications; STEM; and information technology. All the programs of study align with immediate, high-demand, high-wage employment opportunities in the region, two-year technical school programs and four-year university degrees. At the building dedication last fall, Brown, a lifelong resident of North Charleston and a product of Charleston County schools, pledged that she and her staff would develop highly trained professionals. “Now students who live in the same See COOPER, Page 6
Upfront
BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE
What are your chances of getting audited in S.C.?
Y
ou know the moment comes every time you sign that 1040: Could this end up with a trip to the local IRS office holding a box of receipts and sweaty palms? We understand your feeling, and so does ProPublica. The journalists poured through mounds of data to analyze every county in the U.S. to determine how likely you are to get audited. We broke out the South Carolina stats to kick off 2021. Now you should definitely use a tax preparer, especially if you run a business, and consult a tax attorney if you think your tax situation might be an issue. Because these are statistics, you’re going to find that individual circumstances can sway one way or another. For comparison, the national rate of audits is 7.7 per 1,000 filings. The most audited county in the nation is Humphreys County, Miss., with 11.8 audits per 1,000 filings. The county near the Mississippi River Delta has a population of 8,257 people, according to the latest Census data. The reason for the high rates of audits in Humphreys County is because so many of the residents are poor. IRS data show that Americans with the lowest income and those who are exceptionally rich are audited at a higher rate than anyone else.
Most audited counties in S.C.
Least audited counties in S.C.
Federal tax audits in selected S.C. counties The most populated counties in the state are ranked by the lowest to highest rate of federal tax audits.
County
Audits per 1,000
Lexington
7.4
Berkeley
7.5
Dorchester
7.5
Greenville
7.7
Anderson
7.9
Charleston
7.9
County
Audits per 1,000
County
Audits per 1,000
Spartanburg
7.9
Allendale
10.3
Lexington
7.4
Horry
7.9
Dillon
9.7
Berkeley
7.5
Newberry
8.0
Marion
9.7
Dorchester
7.5
Richland
8.1
Marlboro
9.7
Pickens
7.5
Florence
8.7
Williamsburg
9.5
York
7.6
ON THE
RECORD
Sources: ProPublica, Census Bureau
“The Citadel Foundation is the life-blood of The Citadel. Without the Foundation, Lesesne Gate would have closed decades ago.” — William Baer Endictor, an Atlanta attorney, who pledged a gift of $20 million to The Citadel
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SC Biz News Briefs UPSTATE
Real estate for real impact
GSA Business Report
COVID-19 vaccine transported by Greenville company’s product Frontline workers at Prisma Health received the first shipment of Pfizer’s COVID19 vaccine recently, but to some extent, the shipment was simply returning home to the Upstate. Greenville is the North American headquarters for Softbox, the British manufacturer of the insulated containers critical to the stability of the Pfizer vaccine. “I consider this the start to the finish as we move into this process of trying to get enough immunity into the community,” Dr. Steve Shelton said as the dry ice-laden Softbox Prisma employees cheer as the first shipments of made a triumphant arrival at Pristhe COVID-19 vaccines arrive in specialized Softbox ma Health-Midlands, complete with shippers. (Photo/Provided) pom-poms and cheering health care workers. Shelton is an emergency room physician with Prisma Health who spearheaded COVID-19 treatment efforts in the Midlands. To remain effective, the vaccine must be shipped and stored in an ultra-low temperature freezer long term, but the Softbox Medium ULT Parcel Shipper has been engineered to serve as a temporary storage box if the dry ice is replenished within 24 hours of receiving the box.
MIDLANDS
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Columbia Regional Business Report
Babcock Building renovations begin after federal funding secured Renovations have begun at the historic Babcock Building in the BullStreet District after developer and building owner Clachan Properties secured federal funding to help finance the landmark’s $55 million transformation into luxury apartments. Richmond, Va.-based Clachan Properties closed on a long-term, low-interest U.S. Housing and Urban Development loan, according to a BullStreet news release, as well as on a tax credit equity with partners PNC Bank Tax Credit Solutions and Foss & Co. The HUD loan, facilitated by Berkadia Commercial Mortgage LLC, will finance $39 million of the project. The balance will be funded by tax credits and developer equity. The iconic cupola of the Babcock Building, which once housed S.C. State Hospital patients, was destroyed in a September fire. It will be replicated as part of plans to transform the 254,000-square-foot structure, listed on the National Register of Historic Places, into 208 luxury apartments ranging from one to three bedrooms. The residential complex will include a pool, dog park, grilling garden and exercise facilities. The first of five phases is expected to be ready for occupancy in early 2022, according to the release, with the entire project slated for completion in three years. Project architect Walter Parks Architects of Richmond and contractor Rehab Builders Inc. of Winston-Salem, N.C., specialize in historic renovations.
VOLUME 13 NUMBER 18 ■ COLUMBIABUSINESSREPORT.COM
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Repair program keeps residents safe at home
Online resource Digital skills program launches in S.C. Page 2
Fall 2020
Business merger Pair of law firms combine in West Columbia home. Page 6
Multimodal hub Speculative park being developed near CAE. Page 7
Falling numbers
S.C. tourism numbers down $5.2 billion since February. Page 11
INSIDE
Upfront ................................ 2 SC Biz News Briefs ................ 3 In Focus: Architecture, Engineering and Construction .......................................... 13 List: Engineering Firms ...... 14 At Work .............................. 21 Viewpoint ...........................23
The SC Housing Trust Fund’s emergency home repair program covers up to $10,000 in essential reapairs necessary for the safety of the homeowner. Leaking roofs are a frequently seen issue. (Photo/File)
By Melinda Waldrop
E
mwaldrop@scbiznews.com
very so often, Ed Causebrook gets a phone call that always makes him smile. The caller is an elderly lady, living alone, who received emergency home repairs several years ago through a partnership between Causebrook’s organization, the Housing Development Corp. of Rock Hill, and the South Carolina State Housing Finance and Development Authority’s Housing Trust Fund. The woman received a new heating system, roof, and flooring, along with a few seasonal extras. “Being near Thanksgiving, we were able to
get her a turkey and food,” said Causebrook, the Rock Hill group’s housing rehabilitation coordinator. “And she still calls me, every once in a while, just to see how I’m doing. That’s what’s rewarding.” Causebrook’s caller is one of hundreds of people helped each year by a pair of SC Housing Trust Fund programs which reimburse eligible grantees for essential repairs on homes owned by those meeting income requirements. The two program categories, emergency repair and owner-occupied repair, made up more than half of a total of $6.8 million HTF awards for fiscal year 2020 in the state. The COVID-19 pandemic forced the suspension of the owner-occupied program, an extensive initiative which covers up to
S.C. aerospace industry meets challenges, embraces new opportunities
See HOUSING, Page 20
Architecture honors
SC Biz News 1439 Stuart Engals Blvd. Suite 200 Mt. Pleasant, SC 29464
Columbia firms win various state, regional design awards. Page 17
County Spotlight: Spartanburg | Trending: Aerospace in S.C. | S.C. Delivers
ColumbiaBusinessReport.com
Whether business or personal insurance, you have questions. From commercial insurance to employee benefits, surety bonds and personal protection for your home and auto, we have experience and the answers to protect you against the unknown.
Headwinds
$25,000 in home repairs and requires a greater in-home presence by contractors. The emergency repair grant program, which covers up to $10,000 in essential repairs necessary for the life or safety of the occupant, is still operating and in need, officials say, of more nonprofit participants as the pandemic drains organizations’ staff and resources. “The pandemic has definitely put a dent in the number of nonprofits that are participating in the program,” Jennifer Cogan, director of community development for SC Housing, said. “We have 40 or 41 that are approved to participate, and what we’re seeing is only about half of those right now are actively submitting (repair) applications.”
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January 11 - 24, 2021
Best Advice
SCOTT SHARP
REGIONAL VICE PRESIDENT, TD BANK
Editor, Custom Publishing Division Steve McDaniel smcdaniel@scbiznews.com • 843.849.3123
THE BEST ADVICE I’VE EVER RECEIVED
Staff Writer - Teri Errico Griffis tgriffis@scbiznews.com • 843.849.3144 Research Specialist - Paige Hardy phardy@scbiznews.com • 843.849.3125
“My father always told me to live by Tabula Rasa: Treat everyone with a clean slate — have no preconceived opinions. In this world of data and social media, it is easy to judge a business or person before doing any objective research or actually getting to know a person. Decisions to continue engagement will be on my terms, not someone else’s. This has opened so many doors for me in my career. (I have quickly closed a few, too!)”
Digital Editor - Alexandria Ng ang@scbiznews.com • 843.849.3124 Research Assistant - Anne Puckett apuckett@scbiznews.com • 843.849.3145 MIDLANDS NEWSROOM Editor - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7542 UPSTATE NEWSROOM Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222 Associate Editor, Custom Publishing Division Jim Tatum jtatum@scbiznews.com • 864.720.2269
ALWAYS ON THE FIELD Scott serves on the boards of Tri-County Cradle to Career and the Charleston Regional Development Alliance. He also is a founding member of S.C. U.S. Lacrosse, Team Palmetto Lacrosse Club and coaches the Charleston Elite Club Team. He earned a bachelor’s degree in mathematics from the State University of New York at Cortland and Master of Education degree in mathematics from Converse College. Scott is married to Joy, and they have two sons, Avery, 12, and Harrison, 10.
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South Carolina’s Media Engine for Economic Growth
President and Group Publisher Grady Johnson gjohnson@scbiznews.com • 843.849.3103
INTERESTING FACT
Sharp started the first high school lacrosse team in South Carolina in 1998 at Hilton Head High School and was inducted into the S.C. U.S. Lacrosse Hall of Fame in 2006. He also coached for seven years and keeps in touch with former players. He said he uses skills learned on the lacrosse field to coach his team at TD Bank, understanding that you can’t coach everyone the same way and can’t be scared to make a decision.
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Citadel graduate pledges $20 million legacy gift to the school
W
Staff Report
illiam Baer Endictor, an Atlanta attorney, humanitarian and class of 1959 graduate, has pledged a legacy gift of approximately $20 million to The Citadel. This is one of the largest gifts the school has ever received, the military college said in a news release. Endictor credits The Citadel for the success he has achieved, which includes serving as former assistant solicitor for the state of Georgia and as a trial lawyer for a Fortune 500 CEO. The gift of his entire estate will support the school through The Citadel Foundation and help provide opportunities similar to his own to future cadets. “The Citadel Foundation is the lifeblood of The Citadel. Without the Foundation, Lesesne Gate would have closed decades ago,” Endictor said in a statement. “The leadership of The Citadel is outstanding. I have always said that the smartest thing anyone can do is to hire the right people and then get out of their way.” President and retired Marine Corps Gen. Glenn M. Walters, who graduated from the college in 1979, said the legacy gift will support Our Mighty Citadel 2026, the school’s strategic plan.
Cadets stand at attention at The Citadel. (Photo/ Russell Pace, The Citadel)
“Academic enhancement is the lifeblood of this institution, supporting our mission to educate principled leaders. By generously supporting this fund, Bill’s estate gift secures his legacy of leadership and reinforces his lifetime of service to his alma mater,” Walters said. Today, Endictor lives in the Atlanta suburb of Brookhaven, Ga., and is a retired trial lawyer. He formerly served
as a corporate attorney for E.T. Barwick Industries. Over the years he has remained very involved with The Citadel and The Citadel Foundation. In 2011, he was awarded an honorary Doctor of Laws degree. He also has served on the public college’s President’s’ Advisory Committee and The Citadel Foundation Board of Directors, and was the 2011 president of
The Citadel Alumni Association. “We have many alumni who are passionate about our alma mater. Mr. Endictor, as demonstrated by his activities with the college and now this gift, has put credence into that passion,” TCF Director of Legacy Giving Bill Yaeger, a 1983 graduate, said. “He is a friend of mine and a friend of our alma mater, and he has been great to work with.” CRBJ
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COOPER, from Page 1
neighborhood as I grew up in will have access to study and explore the careers they may have previously considered beyond their reach,” she said. The center’s mission has been simple: plan, prepare and pursue. However, with school buildings shut down and restricted because of safety precautions, it’s been challenging to have hands-on training. But Brown said the school is pressing through. “It’s burst our bubble a little bit. We really wanted to get kids in here and kind of change the instruction model with a little less about talking and more about demonstration and modeling, and giving the kids that really experiential learning,” Brown said. The pandemic also has hampered recruitment. Staff had just started heading to schools in person to begin the process and get the word out when the coronavirus struck in March. “That really impacted our efforts. We weren’t really able to get the word out as much as we wanted to for kids to know what was going to be happening, so that they would register and come here,” Brown said. Enrollment is open to primarily junior and senior students in District 4 and Burke High School who are interested in CRCAS’ career fields and have the skill set and aptitude to manage the schedule. Registering occurs the same way a student would choose classes for his or her neighborhood school. Students can choose one of the seven career pathways or clusters, and from a major in one of the 12 career-readiness programs. Those who finish become a “completor” by taking four courses throughout the school year via either a morning or afternoon session. Students then split their time between their home school and CRCAS. For the
Located in Park Circle, the school was built in place of North Charleston high’s former football field. (Photo/Teri Errico Griffis)
those jobs,” North Charleston Mayor Keith Summey said at the building dedication.
Regional plan
A student practices soldering electronic components during a Project Lead The Way digital electronics class. (Photo/Charleston County School District)
morning program, they are picked up from their residence, head to CRCAS for two classes, and then the bus brings them back to their home school to finish out the afternoon. The afternoon program is
Cooper River Center for Advanced Studies teacher Gary Careaga offers a hands-on lesson to a mechatronics student. (Photo/Charleston County School District)
similar in structure, with students picked up from their home school, then returned there or at their residence after CRCAS classes are done for the day. Brown said the goal is for all students to leave CRCAS with a strong work ethic and a certification in their particular field of study. “Each of our programs are tied with a national industry certification,” she said. Students who are studying health sciences, for example, could leave with a certification in CPR or basic life safety, as well as a child care certification. Those studying the global logistics and supply chain management track would ideally leave with a certification in management, while those in the automotive track leave with similar certifications. The academic plan also includes tying students to apprenticeships or internships in their trade. “As we prepare these young men and women for the jobs that are coming to our area, we have been very successful in landing major businesses within our community, and we need to make sure that our young people are prepared to take those jobs when they come in, not have to bring people from outside to do
CRCAS is one of three career centers planned by Charleston County School District. The first, East Cooper Center for Advanced Studies, opened in 2019, and the West Ashley Center for Advanced Studies, which will serve Districts 9, 10 and 23, is currently under construction. What makes the school such an added value for North Charleston is that it centralizes programs. If a program is thriving at one school, but not at another, a student still has the opportunity to receive the best education. For example, North Charelston High School has a strong health science program, but R.B. Stall High School does not, Brown said. On the opposite hand, R.B. Stall had a thriving aerospace program. Now students can have the best of both worlds, she said. The school also benefits taxpayers by not duplicating services and using resources regionally, Brown said. “I can take one or two teachers and centralize them here in this building. I can then take the space that was at that school and I can still give them another teacher or another great program. It may no longer be engineering, but they could have a great culinary or business program.” Though CRCAS’ career pathways have been determined, Brown understands that interests of students and what’s happening in the industry could change in 10 years and the school will be flexible to it. The focuses are not static, allowing the curriculum to best serve students and the region. “Our model here is that we’re developing highly trained professionals. We want to make sure that they are developing a plan for what it is they want to do after high school,” Brown said. “You have to have a plan. Once you have a plan, we’ll make sure you’re pursuing it.” CRBJ
Reach Teri Errico Griffis at 843-849-3144.
January 11 - 24, 2021
www.charlestonbusiness.com 7
Charleston equity firm invests in digital aerospace company By Teri Errico Griffis
L
tgriffis@scbiznews.com
iberty Hall Capital Partners, a private equity firm that invests in businesses that serve the aerospace and defense industries, is growing with its seventh acquisition. Headquartered at 200 Meeting St. in downtown Charleston, Liberty Hall was founded in New York City in 2011 and opened a Lowcountry office three years ago. Soon after, the company shifted its home base and 2/3 of its workforce to South Carolina. The company recently acquired Comply365 Holdings Inc., a Beloit, Wis., company that focuses on using digital tools to get rid of bulky, paper flight manuals for pilots, among other aerospace and rail related solutions. Rowan Taylor, Liberty Hall’s founding and managing partner, said there were three key components to the relocation, including a better quality of life for employees and a desire to get out of the New York City mindset. The most important lure was Charleston’s accessibility. “As you look at locations in the Southeast where you can find an optimal combination of a business-friendly environment, airport access and a general business community, Charleston has it all,” Taylor said. “Also given our focus of aerospace and the defense industry, you have Boeing and Joint Base Charleston.” Through its work, Liberty Hall identifies middle and lower-middle market aerospace businesses that could serve segments or sub-segments within the industry, Taylor said. The firm has a research-driven process to identify individual segments and the businesses that serve them. With companies that build parts for the planes, assemble the planes, finance them and more, Taylor added that Liberty Hall invests in the businesses that do everything but fly the planes — in other words, the airlines. “What we’re seeking to do is ultimately provide those businesses, once we acquire
them, the human, financial and intellectual capital to be able to grow in size, but more importantly, to add capabilities and diversify their customer and platform mix,” Taylor said. With its recent investment in Comply365, Liberty Hall has upped its acquisition tally to seven platforms. Of those seven, three completed a total of nine more add-on acquisitions. “Ongoing digitalization in the aviation and rail markets is driving demand for tailored, efficiency-centric software solu-
tions, and Comply365 is a leading solution provider solving core pain points across the entire operational content and compliance management process,” Taylor said. Following the acquisition, Comply365’s management team, including CEO Tom Samuel, will continue in their roles. “We are excited to partner with Liberty Hall in order to accelerate implementation of our strategic product vision and execute on our key go-to-market growth plans,” Samuel said in a news release. “We look forward to leveraging Liberty Hall’s
resources, relationships and global reach within the aerospace industry to continue to bring critical operational content and compliance management solutions to our customers.” During 2020, Liberty Hall’s team of investment professionals and operating advisors has grown to 30 members, and Taylor said he is in the process of growing the employee base even further next year. CRBJ
Reach Teri Errico Griffis at 843-849-3144.
“As you look at locations in the Southeast where you can find an optimal combination of a businessfriendly environment, airport access and a general business community, Charleston has it all.” Rowan Taylor Founding and managing partner, Liberty Hall CHS - ADMAG - CRBJ - David Thompson.indd 2
5/17/19 10:21 AM
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January 11 - 24, 2021
SAULSBERRY, from Page 1
I left Charleston and went elsewhere to build my career. Why would I come back now, at the summit of my career? Perhaps it was Charleston’s One Region Global Competitiveness Strategy, which seeks to ensure that residents have access to high-quality learning opportunities. Maybe the support and platform afforded me by Ernst & Young LLP (EY) were a motivator. Reflecting back, it is the leaders who invest in people, the opportunities for growth and actionable steps toward diversity that make Charleston a city where you can expand your career.
Leaders invest in their people
Passion alone is not enough to sustain career success. Passion is the fuel, but solid execution is the vehicle that takes you to a storied career. Essentially, I learned how to learn, and this started from a very young age. In building a career in Charleston, you need a resiliency that helps you learn new skills. Embrace the process of learning, as fueled by your passion. But, just as Charleston’s economy has diversified over the years, you must be prepared and have the confidence to learn the skills that are most relevant in today’s market. My first-grade teacher at Chicora Elementary in Charleston asked me what I wanted to be when I grew up. Without knowing how to express my passion for technology, I told her I wanted to be a “word processor.” I was obsessed with the Smith-Corona word processor and gazed at it in Service Merchandise catalogs. A new teacher at St. Stephen High School taught my programming class. He showed me the possibilities of technology by having me write a program to draw a 3D square on the screen. My English Literature teacher, Mrs. Legree, taught me not to be afraid of failing by allowing me to prove to myself that I was capable to push through the demanding assignments and presentations required of me to complete her class. She taught me not to fear learning. She taught me the discipline, skills and grit to know how to push through tough places. Through my bachelor’s, master’s and doctoral studies, I never had classes as demanding as hers. I became more passionate about learning at each step of my education, which helped me proactively pursue my career. In Charleston, we, as leaders, are investing in young people and adults so that they can lean toward a successful career, instead of reflexively leaning back and expecting failure. EY takes great interest in Charleston and realizes that its employees thrive in their passions. Because my passion is for the growth of careers here in Charleston, EY has given me the power, platform and resources of the firm to help expand our presence in the area. In Charleston, we must continue to invest in the careers of others to push them toward their passion.
Shawn Saulsberry mentors Isaiah Scott, a student in Charleston’s CodeOn program at Freddie Whaley Community Center, in this 2019 photo by Nina Magnesson, who leads CodeOn as part of the Charleston Women in Technology. (Photo/Provided)
The passion and resilience you put toward growing your career here in Charleston cannot be solely for you. The only way we can change the system and combat systemic racism in all of its forms is to challenge that very system by coming back and contributing as our careers flourish. Children, young adults and business professionals need to see diverse people in business leadership roles. The passion to get there, coupled with the expertise, experiences and exposure to grow your career, becomes an organic system that reproduces talent when you give back to the ecosystem. This is why I came back to Charleston. I get to volunteer with Nina Magnesson at CodeON as I teach children in the communities where I grew up how to create software at an early age. I get to work closely with Bill Stanfield at Metanoia as we seek to ignite economic development by repurposing the Old Chicora building, where I went to school, to be a spark of growth for the community. My grandparents, teachers and community made investments in me, which caused me to give back in turn. The return on those investments would have been made negligible without opportunities to stretch and grow my career.
Talent has opportunities for growth
Investments, whether short-term or long-term, show their value after a period of time. As leaders, our investment
in other people provides opportunities for growth that can later benefit the community at large. For two summers while in college, I was an intern at Santee Cooper as a student programmer. The skills I learned as an intern made what I was learning in college more practical. Because of that experience, I had a clear advantage over my peers in college because of the real-world experiences I brought to the classroom. This experience also led me to commingle my software engineering classes with business classes. This internship experience and this unique educational combination made me attractive to employers coming to my college looking for talent. I had two written job offers six months before I graduated college. The leadership and staff at Santee Cooper invested in me long before I became a consultant for a Big Four consulting firm like EY. They saw potential in me and believed that my career would have an impact. I spent the next 24 years in a nearby city, making good on the investments made in me and my career. Now, I find myself having come full circle as EY gives me an opportunity to grow my career by spearheading our expansion in Charleston. Similar to the One Region strategy for Charleston is the One EY mindset. This is a mindset of trust, teaming and accountability that allows us to bring together our collective experience so that we can
face disruptive challenges and provide the most effective solutions to our clients, regardless of service line. One EY is the mindset that allows me to have the support and sponsorship of at least 10 EY partners, principals and managing directors crossing all EY service lines and two different EY offices. Paramount to a successful career in Charleston are the leaders, corporations and business professionals who are willing to provide opportunities that allow talent to grow and flourish. This comes with the long-term anticipation of overall gains in the business community because of the anticipated return expected from those investments. By learning critical skills, being empowered and receiving the support of others, I have been able to have a great life and career.
Striving to bring equity to black, indigenous and people of color
As an African American male, social injustice and racism are very real for me. Equity in education and career opportunities is attainable in Charleston. For example, Kelly Grier, the EY US Chair and Managing Partner and Americas Managing Partner, has led the way in our stand against racism. In the wake of the unjust killings of George Floyd, Breonna Taylor and others, Kelly made a statement to EY clients and stakeholders in which she said, “EY recognizes that this is a moment of deep hurt and anguish for
January 11 - 24, 2021
millions of black people across the country. Systemic racism, discrimination and injustice is a human rights crisis, and it affects everyone. In times like this, it’s no longer enough to not be racist. We have to be visibly and vocally anti-racist. We vow to be a voice and force for positive and enduring change. We need to listen, learn, and lead with empathy and honesty — but most importantly, we have to take action.” EY is taking action as a US firm to eradicate racism and discrimination against the black community by leveraging our influence to drive strategic change in our firm, in the communities where we work and through public policy — and I have to drive change as an individual within EY also. One action recently taken by EY was to declare a Day of Service for the March on Washington to allow EY employees to participate in the experience. This was not a day of service for my client, and, because our client is our priority, we were prepared to miss the march. I was able to go back to my leadership at EY and request an alternative that helps us both serve and respect our client while giving employees the chance to participate. Employees could attend the March on Washington virtually, followed by a post-march reflections event with some of our most senior leaders in a panel discussion. EY also hosted several listening sessions to allow employees to share their experi-
www.charlestonbusiness.com 9
Shawn Saulsberry and Julie Edwards served as part of a panel discussion on economic development issues and the changing landscape of the business community in the wake of the pandemic. (Photo/Kim McManus)
ences around racism and social injustice. I shared my experiences as a panelist in many of these sessions and opened the door for deeper one-on-one discussions with my colleagues. For careers to flourish here, and for this city to have the talent needed to serve its increasingly diversified economy, local businesses can take actions similar to those of EY, including evaluating internal talent and business processes to further advance equity across race; investing in organizations committed to fighting social injustices, including inappropriate use of force in law enforcement,
incarceration of black males, health care disparities and economic inequalities in the black community; leveraging people resources and building coalitions of public and private organizations to bridge the Digital Divide distance-learning gap for underserved students; and investing in communities through employee volunteer programs.
My invitation to you
I am extending an invitation for you to come to Charleston and grow your career here as a black, indigenous or person of color. Like many cities, Charles-
ton is far from perfect, and change is ongoing. What you will find is a community that is aware of its need for change and has the desire to invest in people; provide opportunities; and strategically eradicate inequities, social injustices and racism in all of its forms. I challenge you to do your homework before you come, and reach out to me with any questions, or if you would like to help drive change, or give your time and/or resources to Charleston Women in Tech’s CodeON program or to Metanoia. Seeing that I made only a 640 on the SAT, I encourage you to give to either of these organizations (donate to CodeOn and to Metanoia here), placing the decimal anywhere you would like ($6.40, $64.00, or $640). My “why” at EY brings me home to Charleston as a business professional. What are you waiting for? Please reach out to me on LinkedIn to continue the discussion. CRBJ
Shawn Saulsberry is part of the Strategic Transformation Practice in the consulting service line for EY, where he helps clients make sense of change and supports them. Saulsberry grew up in Charleston Heights and attended Chicora Elementary School. He later moved to Berkeley County and attended the school that became Timberland High School. He attended the University of South Carolina, receiving a degree in computer science and moved to Charlotte. He now lives in Dorchester County with Joanne, his wife, and their sons, Cameron and Chandler.
THE NEWEST ADDITION TO THE SC BIZ NEWS FAMILY What’s new on SCBIZtv this week? Check us out on YouTube. With more than 100 archived videos (and counting), you’ll find a wide variety of business-related content, including: Virtual awards shows, Power Events, interviews with high-level business executives and several ongoing video series, including Coffee With…, 120 Seconds, Industry Trends and Coping with Covid. Here’s just a taste of what you’ll find on SCBIZtv this week
VIRTUAL AWARDS SHOWS From Women of Influence in the Upstate to Forty Under 40 in the Lowcountry to Icons and Phenoms in the Midlands, you’re sure to find executives you know being honored in a variety of ways.
120 SECONDS CEOs answering as many questions as they can in two minutes. You’ll definitely learn something personal about the executive and get a thoughtful answer on a serious topic to boot.
COFFEE WITH… Business executives sharing insight about their business, the industry in which they work and the community in which they live.
COPING WITH COVID Explores the impact the Coronavirus is having on our daily lives, both at home and at the office.
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www.charlestonbusiness.com
January 11 - 24, 2021
By Melinda Waldrop
ket and went completely end-to-end from design concept to actual product, shipping and marketing and the whole nine.” Companies ranging from national pharmacy chains to film production companies have snapped up the shield, and Carrington’s early spring concerns faded to a distant memory by fall. “In March, we had 18 employees. Now we’re at 84,” he said. “It’s an amazing feeling, that we’ve been able to go from complete uncertainty for the small team that we had to now being able to do something valuable during this crazy, uncertain time, and then also to provide jobs that are much-needed right now here in our community and beyond.”
Diversification helps S.C. manufacturer navigate pandemic
S
mwaldrop@scbiznews.com
even months ago, John Carrington took a deep breath and pushed all his chips to the center of the table. His Columbia company, ZVerse, was at a crossroads. Founded in 2013 as a 3D design and software solutions provider, the Shop Road outfit faced overwhelming demand for the protective face shield that had grown from an idea hatched to help local hospitals into orders multiplying into the millions. “The first request we had was for 3,000 units, which we could solve, no problem,” Carrington said. “The next day it was 10,000, and the next day it was 50,000, and at that point we knew that 3D printing would not be able to keep up with that demand. … We had to place a bet.” The wager involved shutting down for a few weeks to completely retool ZVerse’s production process to injection molding while scaling up from an 8,000-squarefoot facility to a 30,000-square-foot one that could fill three tractor-trailers a day. “It was really painful to do it at the time, because there was a lot of uncertainty,” said Carrington, who also found himself navigating uncharted waters of overseas shipping and distribution. “We’re going to invest all this money, and then be potentially saddled with all this investment, this product. It turned out to be the right decision to make. It allowed us to go from 1,000 units a day to 120,000 units a day in production.” ZVerse learned on the fly one of the lessons that the COVID-19 pandemic has taught many S.C. manufacturers. In the face of faltering supply chains and other distribution snags, companies are having to diversify, increase flexibility and look for new ways to make things and get them to customers. “A lot of companies are really starting to rethink and try to relocate or reshore. Regional consolidation, stuff like that,” said Chuck Spangler, president of the South Carolina Manufacturing Extension Partnership, a nonprofit organization that promotes innovation and industrial competitiveness. “How can they bring back regional supply chain closer to help minimize these risks for cost? … The other thing is that more and more companies during COVID-19 really learned that they didn’t have visibility down the supply chain. When you know what kind of inventory you have throughout your whole system, how fast you can produce and respond to the needs of the market, (that) is huge.” The diversification and adaptability ZVerse demonstrated in first designing and then producing the ZShield Flex, a lightweight visor that clips around the user’s neck and which won an Innovation by Design Award from business magazine
S.C. Gov. Henry McMaster (right) wears a ZShield Flex face shield during a news conference in 2020 with ZVerse CEO John Carrington. (Photo/Provided)
Fast Company, also have served manufacturers well in 2020, Spangler said. He’s seen that strategy pay off for other companies that have funneled resources to personal protective equipment. “The cut-and-sew operations that we have, they’re really converted over and done phenomenal,” Spangler said. “Some of them have kept that market and are still supplying their other market and are doing really, really well. Some, maybe a third of them, went back to doing their own business and quit doing the PPE. And then you still have about a third that are out there saying hey, we need to diversify more, so if this hits again, we’re not sitting here in one or two market segments. A lot of those are small- to medium-sized businesses that just may have very few customers, and if they will do that, it will make them stronger for the future.”
Quick Change
Things looked different for Carrington in March, when his concern about his employees’ physical well-being mingled with worries about looming layoffs as businesses across the state and the nation shut down in response to the new coronavirus. “At the beginning of the year, we were an early-stage technology company, doing primarily software and design for manufacturing,” Carrington said. “And whenever the world or market inverted in March, it was pretty scary for us. Our customers were shutting down factories. I wasn’t really sure if we were going to have to start laying people off. You’re concerned about the health and safety of employees and also the health of the business. It was really scary on all fronts, like it was for everyone, when everything started going into shutdown mode.” In mid-March, Carrington began fielding calls from local hospitals in need of personal protective equipment.
“At first it was just we were trying to just help people in our community,” he said. “Some of these folks were doctors, nurses, mothers of nurses, but then the hospital administrators. … We were trying to help those in need, and we were fortunate to be able to do that, and really felt fortunate that we could redirect our energy in such a great design.” In April, as some restrictions on businesses began to ease, ZVerse shifted its focus to include retailers, such as restaurants and hair salons, looking for functional PPE options. “As businesses were beginning to reopen, we were getting requests from people for the protective face shields that we designed to worn in the hospital,” Carrington said. “I had a conversation with one customer — if people are wearing these face shields in a restaurant, nobody’s going to want to eat there, because it looks like a hazmat suit, pretty much, and nobody’s going to feel comfortable doing that. “We thought, how can we rethink or reimagine what these face shields look like and (make) something that could be worn at a W hotel or in a Chick-Fil-A or a retail environment. That’s really what spawned the ZShield Flex.” ZVerse took feedback from customers to create the wraparound shield that flips up and down, striving for aesthetically pleasing comfort. Schools took note, as administrators in search of solutions for face-to-face instruction that could provide flexibility and be inclusive of special-needs students also expressed interest in the ZShield Flex. “We planning to introduce it at end of May or beginning of June,” he said. “But then Gov. McMaster came to visit us in mid-May and brought along with him all the press and held a live press conference from our facility. So at that point, we officially launched. … This is the first time we actually took our own product to mar-
New Normal
Whatever a post-COVID normal looks like, Carrington foresees applications for the lessons ZVerse has learned as well as the products it is developing. “COVID one day will go away, but post-COVID attitudes are being shaped right now, and those things will not go away,” Carrington said, pointing to demand for contactless devices in a wide range of industries. “There’s never been a time when the world needed as much innovation as it does right now, all at one time. We have several products that are in our pipeline that are not shields that will help address this post-pandemic world. “You think about before 9-11. If you were to walk into a concert or a football game and somebody was going through your bag or doing a security check, many people would have thought that was a hassle. Today, people are actually more concerned if there isn’t security. You feel a little bit unsafe going into a crowded event. That’s going to be the case with hygiene and cleanliness.” ZVerse’s exponential growth during the pandemic has attracted “some of the best and brightest people with other products they want us to design and bring to market,” Carrington said. “Some things are pandemic-related, some things are not. But we’re utilizing our rapid design and manufacturing process and technology to be able to bring more products to market faster than most.” That speed will be helped by shoring up supply chains and decentralizing a manufacturing process that can become paralyzed when one faraway hub becomes inaccessible, Carrington said. “When everything goes overseas and the capabilities don’t even exist in the U.S. to do it, it’s a problem,” he said. “Moving forward, for manufacturing, it’s going to be all about the decentralization of manufacturing and digital manufacturing, and that’s really where our expertise is. We look forward to building that here in South Carolina, specifically.” CRBJ
Reach Melinda Waldrop at 803-726-7542.
January 11 - 24, 2021
www.charlestonbusiness.com 11
SeatGeek establishes 1st S.C. partnership with Charleston Battery
T
Staff Report
icketing platform SeatGeek works with the likes of the New Orleans Saints and Dallas’ AT&T Stadium, but the company had yet to partner with a South Carolina vendor until recently. The Charleston Battery is now the company’s first Palmetto-state partner. As a new way of thinking about season ticketing, the Battery is launching an all new Season Membership program for the soccer club’s 2021 season, and SeatGeek will be the primary ticketing vendor. The multi-year partnership will allow fans to buy, sell and transfer tickets online and through the SeatGeek mobile app. Fans can also use the app to enjoy matchday features like contactless entry, weather updates and ride sharing to the Battery’s new home at Patriots Point Complex in Mount Pleasant. Having been on Daniel Island since 1999, the club began play in the new stadium last season in front of a limited capacity crowd. “We partnered with SeatGeek because they share a common, tech-forward approach to the match-day experience that we’ve already begun to instill in our new stadium at Patriots Point,” Battery Chief Revenue Officer Scott Krenitski said. The Battery is one of several United Soccer League clubs to partner with Seat-
The Charleston Battery soccer club began playing last season at Patriots Point in Mount Pleasant. (Photo/Provided)
Geek, in addition to a six Major League Soccer teams and a portion of the English Premier League. “Charleston Battery’s progressive approach to ticketing made this partnership a perfect fit,” SeatGeek Executive VP of Client Partnerships Jeff Ianello said. “We look forward to working with the club to create a seamless and easy-to-use ticketing experience for supporters.”
Membership benefits for the 2021 season include:
• Priority seat selection for the 2021 season • Invitation to member-only events throughout 2021 • First priority on 2021 playoff tickets, exhibition matches and any U.S. Open Cup home matches • Early access and priority ticketing to additional stadium events • Discounts on Battery merchandise and an exclusive 2021 member supporter scarf
CRBJ
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January 11 - 24, 2021
“The landscape of doing business in the hospitality and tourism industry changed drastically in 2020. At Firefly, we had grand plans for the year. We moved the distillery to Park Circle, opened a stateof-the-art facility and had events on the calendar to welcome locals and tourists alike. While 2020 presented its fair share of challenges, it also gave us ample opportunities to innovate, overcome and adapt. From hosting Charleston’s first socially distanced concert series to pivoting to create hand sanitizer for our local hospitals and community, we’ve taken 2020’s lemons and mixed them with Sweet Tea Vodka. This year we have witnessed firsthand the community coming together to support each other and that’s what we love about Charleston. In 2021, we’re looking forward to welcoming back visitors, locals, concerts, new products and more. We know the Charleston community is here to support and we’re so thankful for that.” Scott Newitt, co-founder, Firefly Distillery
“There is a growing sense that as people begin to feel more comfortable traveling, we will see those folks take an interest in the coastal offerings of our area. We’ve learned to navigate through tough times and 2020 was a true testimonial to that. Our community rallied to adopt SAFE sanitation practices, to highlight our fresh air assets, and to expand our outreach to our drive market. We expect that all to benefit Beaufort well into 2021.” President-CEO Robb Wells, Greater Beaufort-Port Royal CVB
“Despite the challenges brought forth in 2020, the PGA Championship has continued to feel welcomed and tremendously supported by individuals and businesses alike within the Charleston community. For this, we are extremely grateful and encouraged. Looking ahead to 2021, we remain optimistic and are excited to showcase the Lowcountry on a world stage with the return of major championship golf to The Ocean Course at Kiawah Island Golf Resort.” Ryan Ogle, championship director, 2021 PGA Championship
“We understand there are still challenges ahead, but we are optimistic about the opportunities 2021 will bring. We will continue to adapt and deliver on the ever-evolving needs of our customers, and we look forward to continuing to help support our Lowcountry community in the year ahead.” Brian Culp, retail market manager, TD Bank
“2020 was a year of strong headwinds on both the emotional and psychological fronts, for all the reasons we have collectively experienced. As we advance into 2021, our company is making the choice to pause and reflect on how fortunate we are to be in Charleston. We live in one of the best areas in the world. And since we get to choose between surviving in 2021 or thriving in 2021, the option is clear. We choose to THRIVE!” Adam Baslow, partner, New Leaf Builders
January 11 - 24, 2021
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“We predict 2021 will be a Hemp Renaissance, and that’s a good thing for companies, economic development, and for the planet. The economic downturn caused by COVID-19 has hurt most major industries. But, according to the Moving Forward Act, (H.R.2), fed spending of more than $1.5 trillion will occur, and a large portion will be channeled toward green applications, potentially include hemp. Our position and message for 2021 is clear: Get ready to make hemp great again.” Artie Perry, managing partner, Hempgrid LLC
“2020 completely changed how we do business across the retail, hospitality, and tourism industries. We initially had exciting events planned for the Lowcountry, but the challenges 2020 presented gave us an opportunity to press the pause button and innovate. From hosting socially distanced monthly Sidewalk Saturdays to pivoting for the holiday season by offering outdoor movies and the community the opportunity to still send their letters to Santa, we’ve created a stronger connection with visitors and locals. In 2021, we’re looking forward to welcoming back visitors, residents and events at the Village, which we know Charleston is ready to support.”
“For our industry, 2021 promises continued focus on logistics and supply chain as we prepare to administer COVID-19 vaccines. Independent pharmacies like ours are working overtime to prepare to stock, administer and track these vaccines, and we don’t have a lot of information yet! Meanwhile, our company is growing again in the new year, adding a customer-service focused pharmacy and sterile compounding lab in Mount Pleasant. We’ll be able to service the region’s growing health care needs, and create more great jobs.” Cynthia Feldman, owner, pharmacist in charge, Sweetgrass Pharmacy and Compounding
Freshfields Village Marketing Director Trish Pruitt “We are hopeful that the vaccine for COVID not only strengthens us physically to overcome this pandemic but also strengthens our confidence in the healthy sustainable growth within the communities we serve. SeamonWhiteside is very blessed as a company to have maintained our business growth throughout the challenges of 2020. All of SW+ offices across the Carolinas, including our latest expansion into Charlotte, are very optimistic for what 2021 has in store. We are seeing many opportunities, especially in the industrial, singlefamily, and multi-family sectors as the population continues to migrate to the Southeast. This past year has redefined how we live, work, play, and shop, and we look forward to supporting the Lowcountry prepare for the continued smart growth and design innovation to respond to the redefinition and evolution of the new world we live in and familiar landscapes we enjoy.” Jason Munday, managing principal, SeamonWhiteside “From local Charleston area projects to those across the Southeast, both under construction and completed, we’re fortunate to have highly valuable clients and dedicated team members who adapted to the challenges of 2020 and are committed to growing even stronger in 2021. We hope and feel the fog is lifting for our country, much like in the (cover) photo captured recently at our Quin office project in the Upper Peninsula. Large endeavors on the horizon, including a million square foot industrial project in Berkeley county, give us a lot of hope about what’s to come in 2021.”
“We’re beyond excited about what’s ahead in the New Year since it’s our 15th year in business, and we’re moving into new offices in response to consistent growth in our client and staff base. We view this milestone as a reflection of the success we’re grateful to have had all because of hard work by a great team and the loyalty of our valued clients. With more room to grow and more space to accommodate both staff and clients, we’re ready to celebrate what we expect to be a robust 2021!”
Chad Frampton, president Frampton Construction
William A. Russell, III, CPA, partner of Jarrard, Nowell & Russell LLC
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January 11 - 24, 2021
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In Focus
2021 YEAR AHEAD LISTS: Executive Recruiting Firms, Page 20
Staring down adversity
Expect robust growth boosted by the roll out of a vaccine, a red-hot housing market and a last-minute stimulus package as 2021 takes hold By Stephen Slifer
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steve@NumberNomics.com
he most surprising aspect of the economy in 2020 was the extraordinary rebound in growth following the quarantine-induced collapse in economic activity in the second quarter. Jobs growth consistently outpaced expectations which caused the unemployment rate to fall at a breathtaking pace from 14.7% in April to 6.7% by November. Fueled by 2.7% mortgage rates the housing market accelerated to the fastest pace of sales in more than a decade. Enhanced by the $1,200 tax refund checks in the spring, consumers spent at a pace faster than they did during the decade-long expansion that ended in March. Economic growth in 2021 will be boosted by another virus-relief/stimulus package. One of the principal worries in this past year was when a vaccine would be available and whether people would be willing to take it. Now we know. A vaccine is here. And with three former presidents and Dr. Anthony Fauci willing to take it, concern about its safety should soon disappear. The rapid spread of the virus in the past month could cause a temporary growth slowdown erly in the year as some cities and states choose to implement new stay-at-home orders, but robust growth is expected thereafter. The stock market seems to agree with this relatively optimistic outlook and has surged to a series of record high levels. American consumers and businesses have proven once again to be remarkably resilient in the face of adversity.
Declining job losses
Following a mind-boggling loss of 22 million jobs in the two-month March/ April period, the U.S. economy recovered 12 million of those jobs in the next seven months. As a result, the unemployment rate fell much more rapidly-than-expected from 14.7% in April to 6.7% by November. Its speed of descent was astonishing. In June, the Fed believed that the unemployment rate would be 9.3% at
Daniel Island economist Stephen Slifer delivers an annual economic outlook on the state of the economy. This year, his economic outlook was held virtually. (Photo/Mary Wessner Photography, marywessner.com)
In September, the Fed said that it did not expect the unemployment rate to fall to its full employment level of 4% until the end of 2023 – three years from now. That forecast is way off the mark. We look for the unemployment rate to hit that mark by December 2021, two years ahead of the Fed’s time table. We believe that the Fed and most private-sector economists continue to underestimate the ability of Americans to adapt to adversity. Some economists suggest that many unemployed workers, restaurant workers and former hotel employees in particular, along with retail workers, will become so discouraged that they simply give up looking for a job and drop out of the labor force. But those workers are captured in a broader measure of unemployment called U-6. Like the official measure it, too, has fallen rapidly since the recession ended and now stands at 12%. That seems high. But because it is a much broader measure of unemployment, its full employment threshold is also higher, probably about 8%, which is where it stood going into the recession. If we are correct, both measures will drop to their full employment levels by the end of 2021.
Consumers not cowered
the end of the year. By September they lowered that estimate to 7.6%. The 6.7% rate in November should reach the 6.5% mark by year-end. The Fed has more than 1,000 of the smartest economists in the business, and they completely missed the mark this year. Consumers spent more freely than expected, which required businesses to keep hiring. People worried about the election and when a vaccine might become available, but their concern
did not seem to impact their willingness to spend, nor did it retard businesses being willing to hire. Hats off to both American consumers and businesses. While GDP should return to its pre-recession level soon, perhaps as early as the first quarter of this year, the unemployment rate will be slower to do so. However, it will reach full employment much sooner than currently expected.
Like most economic indicators, retail sales collapsed during the recession. But in the subsequent seven months, fueled by the proceeds of their $1,200 tax refund checks, spending surged, and sales are now faster than they were in the months prior to the recession. Indeed, in the past year — which includes both the drop in retail sales during the recession as well as the subsequent rebound — retail sales have risen 5.7%. In the recent decade-long expansion retail sales rose, on average, 4.3% annually. Consumers have not cowered in the wake of the pandemic and the recession. They spent freely and are going to keep spending. The $1,200 tax refund checks boosted income in April. With the economy essentially See OUTLOOK, Page 16
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IN FOCUS: 2021 YEAR AHEAD
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January 11 - 24, 2021
OUTLOOK, from Page 15
in lockdown they had no place to spend that additional income and, as a result, the savings rate soared from around 6% normally to 33.7% in April. As the economy reopened it has fallen to 13.6%. But 13.6% is still a very high level and consumers have plenty of ammo to spend in the months ahead if they choose to do so. With the savings rate at 13.6% consumers have $2.7 trillion of savings. If the savings rate were normal at 6%, savings would be $1.2 trillion. This means that consumers today have surplus savings of $1.5 trillion — funds that are available for them to spend. Prior to the recession, consumer spending rose $0.7 trillion in 2019. Thus, the current level of savings can support consumer spending for the next two years. Consumers appear poised to spend rather than hang onto their surplus savings.
Hot housing market
One of the things they have been choosing to spend their money on is housing. Indeed, the economic rebound has clearly been led by housing. Existing home sales have surged to 6.8 million, which is the fastest pace since 2006. The average time between the listing of a home with a Realtor and its actual sale is just 21 days — the shortest period of time ever. At the same time, the number
“The stock market seems to agree with this relatively optimistic outlook and has surged to a series of record high levels. American consumers and businesses have proven once again to be remarkably resilient in the face of adversity.” of homes on the market is about one-half of what real estate professionals need. Any way you slice it, housing is hot. And if more homes were available for Realtors to sell, sales would likely be 7.5 million rather than 6.8 million. Why is housing on fire? Easy. At 2.9%, the 30-year mortgage rate is the lowest on record. That rate is attracting buyers in droves. In addition, in the past nine months workers have found they can work from anywhere and are exiting large, expensive rentals in big cities and purchasing less expensive homes in the suburbs and in resort communities like Lake Tahoe, the Jersey shore, and the mid-Atlantic beaches. With rates likely to remain extremely low for at least another
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IN FOCUS: 2021 YEAR AHEAD
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year, housing will remain hot throughout 2021.
Manufacturing economy
Now, consider the manufacturing side of the economy. The Institute for Supply Management each month publishes an index that reflects the pace of economic activity in the manufacturing sector. This index has climbed rapidly in the past seven months, and its October level was the highest since September 2018. The index consists of a number of sub-components such as orders, production, inventories, and employment. The overall index is being fueled by the orders component, which is at its highest reading since January 2004. Meanwhile, production is being constrained by supply difficulties. Manufacturers and their suppliers are operating in reconfigured factories, but absenteeism, short-term shutdowns to sanitize facilities, and difficulties in hiring workers are causing strains that will likely curtail manufacturing growth early next year. Thus, orders are flowing in. Production is increasing but at a considerably slower pace. As a result, both manufacturers and their suppliers are drawing down inventories to satisfy as much of the demand for their goods as they can. In fact, if one takes the ratio of the orders component to the inventories index, it is at the highSee OUTLOOK, Page 18 See who the movers and shakers of the Lowcountry are and what they are up to.
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OUTLOOK, from Page 17
est level in a decade. Manufacturers need to significantly boost the pace of production to satisfy demand. The rising backlog of orders will keep the factory sector humming for months to come.
“We all owe thanks to those biomedical engineers that compressed the normal vaccine development process from 10 years to one...Technology saved the day.”
Inoculating the economy
In the spring nobody knew how quickly a vaccine might be available. Now we know. One vaccine started distribution in December, and others will follow in the first half of the new year. It typically takes 10 years for a new vaccine to be developed, tested and approved. That time table has been compressed into a single year. Some suggest that the availability of the vaccine has been pushed forward solely for political reasons. Nonsense. Science made this happen. Given their ability to map the human genome, scientists were quickly able to identify the specific gene that was the cause of the problem. Once isolated, it became much easier than in the past to find a vaccine that would halt its ability to spread. We all owe thanks to those biomedical engineers that compressed the normal vaccine development process from 10 years to one. Even more astounding is the fact that the vaccines available thus far have proven to be more than 90% effective, which compares favorably to the ordinary annual flu vaccine that has an effective rate of 40%-60% effective. Technology saved the day. Some people worry that the American people will be afraid to take the vaccine, or not know which vaccine is the safest. But if three former presidents, President-elect Joe Biden, and Dr. Anthony Fauci are all willing to take the vaccine, it is hard to believe that the fear factor will linger for long.
Data clear for strong 2021
So let’s review the evidence. Every
month businesses continue to hire workers and the unemployment rate falls. While the economy is not back to full employment, it should be there by the end of 2021. We do not know what the Fed thinks, but the end-of-year unem-
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ployment rate is already a full percentage point lower than it expected in September. Surely, its time table for achieving full employment is much sooner than December 2023. As jobs are created, consumer income
will continue to rise and provide fuel for additional spending. Such spending will be supplemented as consumers draw down their surplus savings. If mortgage rates remain close to their current level the housing sector will thrive in 2021. And as more workers become available and COVID-19 diminishes in importance, the manufacturing sector can step on the gas and boost production to satisfy demand. Finally, vaccines are being distributed and more will follow in the months ahead. No wonder the stock market has set sequential record high levels every couple of weeks. Then, add to the mix another fiscal stimulus/virus relief government spending package. With President-elect Biden, Democrats, Republicans, incoming Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell all behind the stimulus, its passage was inevitable. The package passed in late December should be regarded as an interim bill, which could be followed by an even larger package once the new president takes office. We currently expect a 5.5% rate of GDP expansion in 2021. Additional government spending could boost that estimate. While a stimulus package will
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January 11 - 24, 2021
enlarge the budget deficit and increase U.S. Treasury debt outstanding, those adverse consequences will have to be dealt with later. On the inflation side, a dramatic acceleration in the rate of growth in the money supply should boost the inflation rate in 2021. Fueled by Fed purchases of U.S. Treasury securities in the spring, money growth has surged from a 6% pace prior to the recession to 24% — a pace not seen since 1983. Such rapid growth in money will not
IN FOCUS: 2021 YEAR AHEAD
only provide fuel for consumers to spend and businesses to expand, but will likely boost the inflation rate next year. We look for the core CPI to increase from 1.7% this year to 2.7% in 2021. The Fed will ignore this moderate pickup in the rate of inflation. Indeed, in the short-term, it wants inflation above its 2% target to make up for its shortfall in earlier years. COVID-19 could dent growth in early part of the year, but a vaccine will soon slow its rate of spread. At the same time, the economic fundamentals described
above appear solid. Thus, any GDP slowdown early in the year should be viewed as temporary. The level of GDP is not yet back to where it was prior to the recession. But it is closing the gap quickly and could reach that level in the first half of this year. The unemployment rate is not yet back to full employment, but it is moving in that direction quickly and should reach it by the end of 2021. The economy continues to mend quickly and the economic outlook
www.charlestonbusiness.com 19
appears bright.
CRBJ
Daniel Island economist Stephen Slifer served as the chief U.S. economist for Lehman Brothers in New York City from 1980 until his retirement in 2003. Slifer directed the firm’s U.S. economics group and was responsible for forecasting and analysis of the U.S. economy. He also served as a senior economist at the Board of Governors for the Federal Reserve in Washington, D.C. Read his regular column in the Charleston Regional Business Journal and contact him at steve@NumberNomics.com.
1156 King Street Renovation
Before
654 St. Andrews Blvd., Charleston, SC 29407 • 843.225.0406 www.jmusselmanconstruction.com
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IN FOCUS: 2021 YEAR AHEAD
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January 11 - 24, 2021
Executive Recruiting Firms Ranked by No. of Recruiters in the Charleston Area Company
Phone / Website / Email
Top Local Official(s) / Year Founded
Aerotek Inc. 4401 Belle Oaks Drive, Suite 400 North Charleston, SC 29405
843-746-5800 www.aerotek.com bstefani@aerotek.com
Bryan Stefani 1983
New Talent 661 Adluh St. Charleston, SC 29464
843-298-2868 www.mynewtalent.com info@mynewtalent.com
Onin Staffing 7620 Rivers Ave., Suite 150 North Charleston, SC 29406
Recruiters / Placements Made
Contingency and/or Retainer
Placement Specialization
20 150
-
Health care, call center, administrative, accounting, purchasing, manufacturing, general labor, assembly, skilled trades, engineering, design, architecture, software engineering, defense, avionics, aviation mechanics
2017
10 600
Contingency
Entry to executive-level contract, contract to permanent and permanent placements in accounting, corporate finance and professional services
843-790-9952 www.oninstaffing.com/chrl chrl@oninstaffing.com
Victoria Gristwood 1994
10 5
Contingency
Manufacturing, logistics, professional, IT (separate division), clerical, hospitality
Spherion Staffing 4995 Lacross Road, Suite 1050 Charleston, SC 29406
843-554-4933 www.spherion.com
Mary Barrineau, Pam Thompson 1994
9 60
Contingency
Engineering, finance and distribution
HTI 3691 Ladson Road, Suite 102 Ladson, SC 29456
843-970-7860 www.htijobs.com ssawyer@htijobs.com
David Sewell, John Knight, Herbert W. Dew 1999
8 18
Contingency; Retainer
Engineering, automotive, supply chain management, accounting, administrative, maintenance, human resources, sales; on-site management; business planning; customer service
Catch Talent 1501 Belle Isle Drive Mount Pleasant, SC 29464
843-501-1847 www.catchtalent.com info@catchtalent.com
Chad Norman, Christina Lock 2015
7 150
Contingency
Information technology, creative services, government contracting
Hammes Staffing Services 7685 Northwoods Blvd., Suite 8H North Charleston, SC 29406
843-554-4720 www.hammeshr.com info@hammeshr.com
Brett Hammes, Mike Powers 1965
7 100
Contingency
Manufacturing, import and export representatives, warehouse and distribution, accounting, administrative, customer service, IT
Remedy Intelligent Staffing 7250 Rivers Ave., Suite 702 North Charleston, SC 29406
843-576-0800 www.remedystaffing.com don.green@remedystaff.com
Melissa Gibson, Stephanie Barone, Don Green 1965
7 87
-
Logistics, warehousing, manufacturing, supply chain management, administrative support, customer service, search and placement
Gallman Personnel Services Inc. 201 Sigma Drive, Suite 300 Summerville, SC 29468
843-554-5555 www.gpsjobs.net gpscharleston@gpsjobs.net
Jeff Gallman, Nanci Fields, Mary Jane Sorrell 1985
6 24
-
Industrial, administration, medical, direct hire
Coastal Employment Inc. 1536 Fording Island Rd., Suite 108 Hilton Head Island, SC 29926
843-837-5627 www.coastalemployment.net info@mycoastalconnections.com
Kevin J. Kowal 2002
5 150
Contingency
Medical, administrative, hospitality, skilled trades
Dunhill Staffing Systems 1459 Stuart Engals Blvd., Suite 300 Mount Pleasant, SC 29464
843-375-0031 www.dunhillstaff.com kwh@dunhillstaff.com
Neil Whitman, Katie Henderson, David Abner 2001
5 23
Contingency
Permanent placement in technical, finance and accounting, sales, office administration, IT temporary placement in finance, office, accounting
Fulcrum Staffing 410 Mill St., Suite 101 Mount Pleasant, SC 29464
843-388-5280 www.fulcrumstaffing.com admin@fulcrumstaffing.com
Jamiel C.J. Kadri 2008
5 54
Contingency
Accounting and finance staffing
Johnson Service Group Inc. 4975 LaCross Road, Suite 157 North Charleston, SC 29406
843-329-0987 www.jsginc.com
Miranda L. Jones 1984
5 35
Contingency
Engineering, IT, finance and accounting, other professional areas
McNaughton Staffing LLC 1637 Savannah Highway, Suite 201 Charleston, SC 29407
843-556-1505 www.mcnaughtonstaffing.com jobs@mcnaughtonstaffing.com
Amy McNaughton 2008
4 19
Contingency
Administrative, clerical; hospitality; warehouse; manufacturing; medical office
Beacon Professional Search 1 Yacht Harbor Court Isle of Palms, SC 29451
843-425-1699 www.beaconsearch.com mike@beaconsearch.com
Michael G. Loftus 2002
3 23
Contingency
Manufacturing, engineering, human resources, accounting, distribution, logistics, environmental health and safety, supply chain, continuous improvement and Six Sigma
Charles Foster Co. of S.C. Inc. 3436 Rivers Ave. North Charleston, SC 29405
843-572-8100 www.charlesfoster.jobs cfs@charlesfoster.jobs
Dottie Karst 1969
3 37
Contingency
Accounting and finance, engineering, information technology, sales and marketing, administrative and clerical, legal and customer service, general management and medical
Kudzu Staffing / Kudzu Medical 7455 Cross County Road, Suite 5 North Charleston, SC 29418
843-225-0123 www.kudzustaffing.com info@kudzustaffing.com
Sharese Kline, Otisha Summersett, Toni Pantuosco 2006
2 20
-
Construction, warehouse, general labor, assisted living, school districts
Miller & Associates 361 Culver Ave. Charleston, SC 29407
843-571-6630 amillerjr361@gmail.com
Al E. Miller, Helen C. Miller 1993
2 2
Contingency
Engineering, quality, design, manufacturing
Tradesmax Staffing 2557 Ashley Phosphate Road North Charleston, SC 29418
843-203-3510 www.tradesmaxstaffing.net charleston@tradesmaxstaffing.net
Madison White 2001
2 65
-
Skilled trades, carpenters, welders, iron workers, administrative, warehouse, heavy machinery, construction, hospitality, drivers, superintendents, project managers
Introductions Agency 1000 Palm Blvd., Suite 424 Isle of Palms, SC 29451
843-343-5746 www.introductions.agency louis@introductions.agency
Louis H. Yuhasz 2001
1 17
Contingency
Hospitality, culinary, management
Management Recruiters of the Lowcountry LLC 1228 Aruba Circle Charleston, SC 29412
843-628-5021 www.mrlowcountry.com tom@mrlowcountry.com
Tom Sykes 2011
1 15
Retainer
C-level, vice presidents, engineers, plant managers, directors and other high level positions
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com.
Researched by Business Journal staff
At Work
BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES | PEER TO PEER
People in the News
Business Digest
Charleston spirits production center rebrands Previously known as Terressentia, the Green River Spirits Co. produces award-winning spirits and provides logistics support for retail partners, individual brand owners and exporters. Green River Spirits Co. also owns and operates the historic Green River Distilling Co. in Owensboro, Ky. Facilities in Charleston and Owensboro are now combined under the Green River Spirits Co. name.
Bank of America names Metanoia as neighborhood champion
Bank of America announced Metanoia as a neighborhood champion, a recognition that includes both grant funding and leadership training. The program supports nonprofit leaders in advancing economic mobility and is an extension of the bank’s philanthropic initiative, Neighborhood Builders, the largest corporate philanthropic investment in nonprofit leadership in the country. Alongside Charleston, the bank will bring the program to more than 40 additional communities across the U.S. as part of its commitment to investing in the longterm health of communities. Metanoia will receive $50,000 in grant support through the program and an opportunity for engagement in virtual leadership training delivered by experts in the nonprofit sector. Metanoia was selected for its leadership and dedication to investing in assets that strengthen neighborhoods and develop opportunities for the community’s citizens. This funding will support Metanoia’s programs within its three core areas of focus: creating a safe and nurturing place for children after school and during the summer; establishing quality, affordable housing; and the economic re-energizing of the Chicora-Cherokee neighborhood.
vation easement was donated to the Land Trust by owners Dean and Jean Harrigal. The property, known as Magnolia Hall, is located in southern Colleton County along the Old Chehaw River. It contains maritime forest, mixed pine-hardwood upland forest and wetlands. This area is also part of the more than 300,000 acres of protected land in the ACE Basin that preserves a network of wildlife corridors, clean water and scenic beauty.
Mount Pleasant gets 1st Panera Bread
A new Panera Bread has opened at 1135 Muhlenbergia Drive in Mount Pleasant. The new location will serve guests in-café, or through delivery, drive-thru or curbside pickup.
Coastal Community Foundation receives $1 million from Facebook
Coastal Community Foundation of South Carolina is one of 20 community foundations in the U.S. to receive $1 million from Facebook to manage grant-making programs supporting Black communities and Black-led nonprofits. The foundation will award funds over two years to nonprofit organizations and programs in Berkeley, Charleston and Dorchester counties supporting innovation, creativity and resiliency in Black communities. Preference will be given to Black-led organizations. Funds from the Facebook grant will also support The Lowcountry Unity Fund of Coastal Community Foundation, The Neighborhoods Energized to Win Fund of Coastal Community Foundation, institutional support for Black-led nonprofits and Black Giving Circle.
Parker’s convenience store coming to Foxbank Towne Center Lowcountry Land Trust protects land in ACE Basin
The Lowcountry Land Trust has announced the permanent protection of 14 acres of land in the ACE Basin. A conser-
Foxbank Towne Center has sold a 1.5acre parcel to Parker’s, brokered by Twin Rivers Capital, the developer of Foxbank Towne Center. The Savannah-based convenience store and gas station was recently voted one of the top 10 Best Gas Station
Brands by USA Today readers and was also named the 2020 Convenience Store Chain of the Year by CStore Decisions. Parker’s is expected to open in the first half of 2021.
One80 Place receives $5 million from Day 1 Families Fund
One80 Place has been selected to receive a $5 million grant from the Day 1 Families Fund. Launched in 2018 by Amazon founder and CEO Jeff Bezos, the Day 1 Families Fund issues annual leadership awards to organizations and civic groups working to provide shelter and hunger support to address the immediate needs of young families. This one-time grant will allow One80 Place to grow its field operations to rehouse families directly from the street, provide children with better educational supports and offer a new nightly shelter for those who need it.
S.C. Federal Union receives workplace diversity award
S.C. Federal Credit Union was recognized with the Excellence in Workplace Diversity Award from the S.C. Chamber of Commerce. This awards program recognizes the accomplishments of S.C. companies leading the way in developing and implementing diversity initiatives. The credit union offers robust training to employees on various diversity, equity and inclusion topics, including implicit bias, cognitive diversity and inclusive listening. Company-led activities and programs spark conversations about diversity, and senior leadership frequently encourages employees to share their personal experiSee BUSINESS DIGEST, Page 22
REAL ESTATE The Beach Company has hired Emily Aspinwall as vice president, controller and treasurer at its headquarters in Charleston, and Annika Damstra has leasing consultant for The Jasper, The Beach Company’s new luxury 12-story mixeduse building in downtown Charleston. Aspinwall will oversee all aspects of accounting for the company and its related entities, including corporate, fund and property management financial reporting to all internal and external stakeholders. Aspinwall previously served as the senior director of corporate accounting at Greystar for 13 years and is a certified public accountant and member of AICPA and SCAPA. Damstra will promote available residences to prospective renters, oversee rental applications, facilitate moveins and serve as the point-of-contact for existing tenants. Damstra is a recent graduate of the College of Charleston, where she majored in marketing with a minor in commercial real estate.
ENGINEERING Hussey Gay Bell has promoted Justin Robinette to civil division manager for the firm’s Charleston operations. Robinette joined the firm in 2015 as a senior civil Robinette engineer responsible for overall land development and civil engineering for various public and private developments. Robinette’s new responsibilities will include business development and client relationship management. Robinette is a graduate of The Citadel and holds a Master of Science degree in civil engineering, a Master of Science degree in project management in civil engineering and a bachelor’s degree in civil engineering. Robinette is a registered professional engineer in South Carolina.
GOVERNMENT Berkeley County Economic Development has hired Bidd Smith as project manager. His top duties will include networking with existing industry and overseeing new projects. Smith has 22 years of experience with Berkeley County, including 17 years with Berkeley County Public Works in project management and utility coordination and vegetation See PEOPLE, Page 22
22
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January 11 - 24, 2021
People in the News PEOPLE, from Page 21
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JANUARY 25
HEALTH CARE
List: Hospitals Bonus List: Urgent Care Centers
Advertising Deadline: January 11 FEBRUARY 8
ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Engineering Companies
Advertising Deadline: January 25 FEBRUARY 22
TRENDS IN ENERGY
List: Recycling Companies Bonus List: Solar Companies
Advertising Deadline: February 8 MARCH 8
REAL ESTATE AND CONSTRUCTION List: Heating and Air Contractors Special Section: Growth Report: Berkeley County
Advertising Deadline: February 23
management and as a licensed applicator. For the last five years, Smith served in workers’ compensation for the county’s Safety and Risk Management Department. Smith His certifications include County Infection Control Officer, OSHA 10 & 30 General Industry Certified and CPR/AED Instructor Certified.
BANKING First Reliance Bank has hired Robert Haile as CFO, Elizabeth Bunn as treasurer and promoted Jeff Paolucci to chief risk officer. With more than 19 years Haile in financial services, Haile previously served as chief investment officer and treasurer for both Carolina Financial Corp. and CresCom Bank in Charleston, and as controller for Crescent Bank, predecessor to CresCom. He graduated from the University of South Carolina. Bunn has more than 25 years in banking. Prior to joining First Reliance, she was treasurer for First Citizens Bank and RBC Bank in North Carolina, and director of investments, funding and liquidity for RBC. Bunn earned a MBA from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill and an undergraduate degree from Duke University. Paolucci is an 18-year veteran of First Reliance Bank, having served the company as CFO, executive vice president and secretary. He has previous experience as an FDIC Safety and Soundness Bank Examiner.
LAW K&L Gates LLP has added Paul M. Eckles as a partner in the litigation and dispute resolution practice. Previously, he worked in the New York office of Skadden, Arps, Slate, Meagher & Flom LLP, where he practiced for 25 years.With a
Robert E. Kneece III and Nickisha M. Woodward have been elected shareholders of Turner Padget Graham & Laney. Both are members of the firm’s insurance litigation practice. Kneece’s practice includes defending personal injury, premises liability, trucking accidents, wrongful death, commercial litigation and other general liability claims. He has obtained successful results in jury trials while representing insurance carriers, businesses and individuals. Kneece received an undergraduate degree from the University of South Carolina and a law degree from Emory University School of Law. Woodward defends the interests of clients in personal injury, construction, premises and product liability matters. She is the current Young Lawyer Division Vice President of the S.C. Defense Trial Attorney Association. Woodward received an undergraduate degree from Clemson University and a law degree from Charleston School of Law.
CONSTRUCTION Trident Construction has hired Scott Kimble as a senior superintendent. Kimble has more than 20 years of experience in the construction of various projects with Shockey Construction in Virginia. Kimble He also spent four years with Turner Construction. His first project with Trident will be a new building for First Baptist School in downtown Charleston.
Business Digest BUSINESS DIGEST, from Page 21
ences with equity and inclusion on company social media platforms.
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primary focus on antitrust litigation, Eckles has a broad-based national litigation practice that includes class actions, government investigations and other actions involving claims of anti-competitive conduct, including price-fixing, bid-rigging, group boycotts, exclusive dealing, monopolization and price discrimination. He also represents clients in matters involving breach of contract, fraud and fiduciary duty, intellectual property and other types of commercial litigation in both the trial and appellate courts. In addition, Eckles regularly advises on pro bono matters, including veterans affairs.
AIASC recognizes excellence in architecture at annual awards
The American Institute of Architects, South Carolina chapter has announced the 2020 recipients of the annual AIASC Design Awards. The program encourages
and recognizes design excellence throughout South Carolina and promotes public awareness of the role architects play in shaping the quality of life in their communities. Among those recognized were LS3P for the Trident Technical College South Carolina Aeronautical Training Center, Hoffler Place and the Wando Mount Pleasant Library, Liollio Architecture for the Louis Waring Jr. Senior Center, and Chelsea Anderson Studio for the Bohicket House.
Viewpoint
VIEWS, PERSPECTIVES AND READERS’ LETTERS
Everything changed suddenly, now we must drive that change
M
any of us felt blindsided earlier this year when work, as we knew it, changed overnight. As company leaders, we did not have the luxury of picking our transition timing or crafting a detailed plan. The pandemic demanded an abrupt shift to a distributed workforce – a model many of us were unfamiliar with and some of us were even JULIE opposed to. EDWARDS With full time remote work thrust upon us, we were resistant at first. We pushed off meetings that could be saved for when we were back in the office and set up workstations at our kitchen countertops. We told ourselves this was all just temporary. But as time passed, we accepted the change, settled in, and adapted. Or better said, we evolved. With vaccinations in early stages, a return to normal is now in sight and many companies are planning their office reopenings. But the thing about evolution is that you don’t often move backwards. So will work return to normal once the lockdowns lift? Or is our “new normal,” actually the future of work? Multiple recent surveys tell us that a majority of employees want to continue working from home at least part time once the pandemic passes. They’ve learned to cope with “Zoom fatigue” and are enjoying the flexibility of choosing where and when they work. However, remote work isn’t just a benefit to employees. Companies are reaping the benefits too. With strong collaboration tools in place, productivity for many companies has remained high or increased after shifting to a distributed workforce model. Understandably, profitability is also boosted with office expenses reduced but diversity can also be strengthened with the freedom of recruiting talent from anywhere. Companies like Twitter, Facebook, REI, and Walmart are already telling their office based employees that they can work remotely forever. With benefits to both the employee and business and with Big Tech (known to be trendsetters) already on board, flexibility will soon become the norm and no longer a perk that only some companies offer. In order to attract and retain top talent, I encourage you to start planning for this shift now. Don’t be blindsided by this change; lead it. Start by having a conversation with your leadership team and survey your
employees. What kind of model do you want or need to shift to as restrictions lift? The models to consider are: All Office, Primarily Office with Some Flexibility, Hybrid Model of Both Office and Remote Days, Primarily Remote with Office Access, or All Remote. In a recent survey of my own team, several of my team members voiced that they would like the option of working remotely forever. With performance on track, I’m apt to give them the flexibility they desire. After all, maintaining seasoned talent is far easier than recruiting and training new hires. Anticipating (at a minimum) a Hybrid model in my team’s future, I’m turning my focus to what we can start doing today to prevent the negative impacts that sometimes come along with a distributed workforce model. Specifically, I’m interested in preserving our strong service reputation and company culture. In effort to maintain our strong service reputation, my primary focus in 2021 will be on quality. With solid reporting in place, it’s easy to see our key performance indicators are on track, but without the luxury of overhearing phone calls in our open office space, we can’t catch mistakes like we once could. In the new year, my managers will be required to shadow calls for each team member, and we’ll be introducing quizzes to surface training opportunities. It
will be important that our managers not shy away from accountability and coaching conversations with their team. It will take strong leaders who can build trust and motivate their teams while also monitoring performance and influencing outcomes in a remote environment. To preserve company culture, the focus will be on creating opportunities for connection. Again, this responsibility falls largely on the shoulders of our leaders. Leading remote teams will require more effort. More effort to coordinate face-to-face interactions with the team and more effort to foster collaboration and creativity while remote. As employees shift to permanent remote work, it will be more important than ever to have good leaders on your team. As social distancing restrictions lift later this year, your initial instinct may be to ask your team to return to the office, but before you make that decision I encourage you to reflect on the sentiment below, gathered recently from my team. Or better yet, start a dialog with your own employees about what they want if your goal is to retain them. Otherwise, you may find yourself blindsided when they leave your company for greater flexibility. “Working from home has not only improved my work-life balance, but my physical & mental health as well. Life is just so much easier.”
“The energy and excitement is still flowing virtually thanks to video calls, chat messages, and the systems we had in place. On top of that, I get to enjoy more time with family and more time for myself.” “The biggest win is my work/life balance. I thought it was good before, but I didn’t realize how much I was really missing out with my family just from commute time alone. That time adds up and in the past I’ve had to avoid signing my kids up for activities knowing that it would be a real struggle due to the commute. Now my kids can do some of the activities (COVID permitting) that they’ve been wanting to do but my schedule wouldn’t allow. It’s been a win/win overall and I’m thankful that it’s an option for our company.” CRBJ
Julie Edwards is vice president of Client Success at BoomTown, a Charleston-based startup that helps real estate professionals operate in the digital space with data-driven products and solutions. The company, which was founded in 2006, now has more than 250 employees with offices in California, Atlanta and Charleston.
We want to hear from you Write: Andy Owens, Executive Editor Charleston Regional Business Journal 1802 Dayton Street, Suite 101 North Charleston, SC 29405 Email: aowens@scbiznews.com
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