Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
Tompkins Financial profit jumps 30 percent in Q1
ITHACA — Tompkins Financial Corp. (NYSE: TMP) reported that its net income soared 30 percent in the first quarter to a record $20.4 million from the $15.7 million it reported in the same period in 2017. The Ithaca–based banking company said its earnings per share rose 29 percent to a record $1.33 in the first […]
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
ITHACA — Tompkins Financial Corp. (NYSE: TMP) reported that its net income soared 30 percent in the first quarter to a record $20.4 million from the $15.7 million it reported in the same period in 2017.
The Ithaca–based banking company said its earnings per share rose 29 percent to a record $1.33 in the first quarter from $1.03 in the year-earlier period.
Improving margins, higher fee-income growth, and a lower tax rate due to federal tax reform contributed to the profit rise.
“We are excited to start 2018 with very strong earnings growth. Solid loan growth, an improved net interest margin, and higher fee income all contributed to earnings improvement over the prior year. Our first quarter earnings also benefited from a lower tax rate in 2018,” Stephen S. Romaine, president and CEO of Tompkins Financial, said in the earnings report.
Tompkins Financial’s net interest income rose nearly 10 percent to $52.7 million in the first quarter.
Total loans increased by 9.5 percent in the last year to $4.7 billion as of the end of the first quarter. Total deposits increased by 1.6 percent to $4.9 billion in the same period.
Net interest income benefitted from the loan growth and reduced interest expense on time deposits, the banking company said in the earnings report. Tompkins Financial’s net interest margin was 3.42 percent for the first quarter of 2018, up from 3.38 percent for the same quarter in 2017.
Tompkins Financial posted noninterest income of $17.8 million in the first quarter, up 3.4 percent from the same period last year. Fee-based income related to insurance and investment services, card services, and deposit-account fees improved a combined 5.5 percent over the same period in 2017, the earnings report said.
Tompkins Financial’s effective tax rate was 22.0 percent in the first quarter of 2018, compared to 31.9 percent for the same period in 2017. The banking company said the decrease was a direct result of the Tax Cuts and Jobs Act of 2017, which reduced the federal corporate tax rate from 35 percent in 2017, to 21 percent in 2018.
The banking company said its “asset quality trends remained strong in the first quarter of 2018.” Nonperforming assets represented 0.41 percent of total assets as of March 31, up slightly from 0.38 percent at the end of 2017. Nonperforming asset levels continue to be below the most recent Federal Reserve Board peer group average of 0.63 percent, Tompkins Financial said.
Tompkins Financial’s provision for loan and lease losses totaled $567,000 for the first quarter, down from $769,000 reported in the year-ago quarter. It posted net charge-offs of $127,000 in the first quarter, down from $358,000 in the first quarter of 2017.
The banking company’s allowance for originated loan and lease losses totaled $40.1 million as of March 31, and represented 0.91 percent of total originated loans and leases, compared to 0.92 percent a year prior.
Tompkins Financial is a financial-services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial is parent of Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth-management services through Tompkins Financial Advisors.

OCIDA to use EPA funding for cleanup of Syracuse’s Roth Steel site
The U.S. Environmental Protection Agency (EPA) has awarded the Onondaga County Industrial Development Agency (OCIDA) a $200,000 federal brownfields grant to help clean up the former Roth Steel Inc. property located at 800 Hiawatha Boulevard W. in Syracuse. The $200,000 grant is among a total of $54.3 million that the EPA is providing for brownfield
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
The U.S. Environmental Protection Agency (EPA) has awarded the Onondaga County Industrial Development Agency (OCIDA) a $200,000 federal brownfields grant to help clean up the former Roth Steel Inc. property located at 800 Hiawatha Boulevard W. in Syracuse.
The $200,000 grant is among a total of $54.3 million that the EPA is providing for brownfield sites nationwide, the agency said in a news release. The EPA has also awarded funding to the Herkimer County Industrial Development Agency (IDA) and the City of Cortland for projects as well.
They’re among 144 communities selected for federal grant funding to clean up brownfield properties.
“Brownfield grants are helping communities throughout our region unlock the unmet economic potential of contaminated and unused lands,” Pete Lopez, EPA regional administrator, said in the release. “Once cleanup is complete, the site can be put to reuse with the potential to bring in valuable private sector development, jobs, and additional tax revenue.”
Roth Steel
The 24-acre Syracuse site operated as a metal processing and recycling center from the 1950s until 2014, when Roth declared bankruptcy and the facility was closed.
The site is contaminated with poly-chlorinated biphenyls (PCBs), metals, and volatile organic compounds. The goal for cleanup is to remove hazardous hot spots on the site to allow recreational use and contribute to the creation of a trail that loops the entirety of the Onondaga Lake shoreline.
“Through the EPA brownfields-cleanup program, the Onondaga County Industrial Development Agency will be able to rehabilitate this site back into productive use and prevent this property from blighting the city of Syracuse,” the Onondaga County Industrial Development Agency said. “Without the EPA brownfields program, [OCIDA] would not be able to leverage its funds to the extent necessary to return the former Roth Steel property into a clean and productive site for taxpayers of the county.”
The grant from the EPA brownfield program will help continue efforts to clean the Roth steel site and return it to productive use, Onondaga County Executive Joanie Mahoney added.
“Rehabilitating this valuable lakefront property is an important component in our efforts to continue to Loop the Lake and encourage further development in and around our Inner Harbor neighborhood,” said Mahoney.
Cortland
The City of Cortland will use a community-wide grant of $200,000 to conduct environmental-site assessments.
Cortland will use the grant to “inventory, characterize, assess, and conduct” planning and community-engagement activities. Many of the sites are “abandoned, unsuitable for redevelopment, community eyesores, and drain the economic vitality of the area,” the EPA said.
The former Apex Tools site, which stopped manufacturing in 2015, is described as a “high-priority” site for assessment work under this grant.
Since 1834, the factory produced wire rope, chain fittings, and overhead lifting devices.
The soil and groundwater at this site are “likely” to have contaminants that include heavy metals, volatile organic compounds, semi-volatile organic compounds and PCBs.
This large area of contaminated land is a “major concern” for the community since it is located in a primarily residential neighborhood with “no cleanup plans” currently in place.
“The legacy of the City’s industrial past now negatively impacts 25 percent of the land within the City,” Mack Cook, director of administration and finance for the City of Cortland, said in the release. “Using Brownfields to address the problem is essential to re-constructing the City into a modern live/work environment but this problem is unfortunately beyond the City’s fiscal capability to address without outside assistance.”
Herkimer County
The Herkimer County Industrial Development Agency will use a communitywide grant of $200,000 to conduct environmental-site assessments.
Herkimer County will use these funds to “identify and assess” brownfield sites located in the county’s urban centers and along the waterways in communities such as Ilion, Dolgeville, Frankfort, village of Herkimer, town of Herkimer, and Little Falls.
Sites chosen for assessment have the potential for redevelopment as affordable housing located in areas of existing infrastructure or redevelopment as manufacturers for packaging and distribution of food and beverage products.
“This EPA grant would allow us to explore properties that could help encourage economic development throughout the county,” John Piseck, executive director of the Herkimer County IDA, said.

KeyBank awards CenterState CEO $115,000 for program support
SYRACUSE — The KeyBank (NYSE: KEY) Business Boost & Build program on May 1 awarded $115,000 to CenterState CEO. The funding will help CenterState CEO expand its popular UP Start Syracuse program, KeyBank said in a news release issued that day. KeyBank announced the funding award at the South Side Innovation Center to help mark
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — The KeyBank (NYSE: KEY) Business Boost & Build program on May 1 awarded $115,000 to CenterState CEO.
The funding will help CenterState CEO expand its popular UP Start Syracuse program, KeyBank said in a news release issued that day. KeyBank announced the funding award at the South Side Innovation Center to help mark the start of National Small Business Month.
UP Start Syracuse helps grow businesses “within vulnerable communities, contributing to stronger neighborhoods and shared prosperity,” KeyBank said. The program connects existing businesses and “aspiring” entrepreneurs to the tools and networks that help them “thrive, bringing together the collective resources of existing business organizations and community partners while also bridging the work of CenterState CEO’s Economic Inclusion and Innovation and Entrepreneurship portfolios.”
“We are very excited about this partnership with JumpStart,” Dominic Robinson, VP of economic inclusion at CenterState CEO, said. “The investment from the KeyBank Business Boost & Build program will help us expand our collective work to help expand prosperity in our community through the growth of women and minority owned businesses.”
The KeyBank Business Boost & Build program is supported by JumpStart, a Cleveland, Ohio–based nonprofit. It describes its mission as one that works to “unlock the full potential of diverse and ambitious entrepreneurs to economically transform entire communities,” according to its website.
It provides assistance to startups and small businesses, helps companies secure capital, and matches people with companies, the JumpStart website says.
New York’s Upstate Minority Economic Alliance (UMEA) is also a “key player” in this collaborative project with the UP Start Syracuse program, KeyBank said. On its website, CenterState CEO lists UMEA among its “organizational partners.”
As “the only chamber of commerce in the Central New York Region for minority business owners and professionals of color,” UMEA will offer discounted memberships to clients of CenterState’s UP Start Syracuse program. It will also offer small-business owners assistance with obtaining minority and women owned business enterprise (MWBE) certification and securing other economic-development investments.
Additional program support
Besides the UP Start Syracuse program, CenterState CEO will also use the funding in its collaboration with two programs that the Syracuse University Falcone Center for Entrepreneurship oversees. The Falcone Center is a program of Syracuse’s Martin J. Whitman School of Management.
The programs include the South Side Innovation Center (SSIC) at 2610 S. Salina St. in Syracuse. The SSIC is a community-based microenterprise incubator that provides office space, training, test kitchen space, and MWBE certification for neighborhood entrepreneurs. CenterState will refer clients to SSIC, provide supplemental technical assistance to residents, and continue to work with the organization to successfully launch and grow south-side businesses.
The second program is the Women Igniting the Spirit of Entrepreneurship (WISE), which CenterState will provide with new funding to deliver more workshops and technical assistance for entrepreneurs, specifically for its Exito program.
Funding will also support the annual WISE Women’s Symposium, which the organization held April 18 at SKY Armory.
Funded by a grant from the KeyBank Foundation in 2017, the KeyBank Business Boost & Build program is “designed to stimulate economic growth” in Ohio and upstate New York by helping startups and small businesses grow and “preparing the workforce for the needs of those companies.”
Robert Half: Six job-search stallers and how new grads can overcome them
The upcoming college graduations across Central New York and beyond will send new graduates into the job market, which could see more employers competing for new hires. Menlo Park, California–based staffing firm Robert Half has outlined six items that can stall a job search for young people and provides suggestions on how to overcome them.
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
The upcoming college graduations across Central New York and beyond will send new graduates into the job market, which could see more employers competing for new hires.
Menlo Park, California–based staffing firm Robert Half has outlined six items that can stall a job search for young people and provides suggestions on how to overcome them.
Robert Half is citing a November report from the Bethlehem, Pennsylvania–based National Association of Colleges and Employers (NACE) that’s titled “College hiring projected to increase by 4 percent in strengthening market.”
The NACE job-outlook study indicates that employers plan to hire more new graduates from the Class of 2018 than they did from the Class of 2017. The study found 44 percent of organizations plan to increase their hiring plans, which is up from 36 percent in the 2017 survey. Respondents in the 2018 survey cited company growth, retirements, and the need for entry-level talent as the “top drivers.”
Here are the six things that can stall a new graduate’s job search, according to a Robert Half news release issued April 18.
You’ve submitted material online for many jobs online and haven’t been called for interviews
Robert Half suggests grads rework their résumé and “find a connection.” The staffing firm advises candidates to tailor their résumé for each position so it contains keywords from the job description, as that will help résumé-scanning software identify an individual as a potential match. More importantly, job candidates should find any connections they have at the company and ask them for input about the role. “See if they would be willing to submit your résumé personally to the hiring manager,” Robert Half says. A personal connection can help candidates stand out from a large number of online applicants. Managers often prefer to hire candidates who are referred to them by people whose opinion they value.
You don’t want to list your salary history on an application, as you had low-paying jobs through college.
Robert Half advises new graduates to “focus less on history, more on the future.” The reason? Many cities and states have banned employers from asking about salary history. Hiring mangers instead ask candidates for their salary expectations, and often do so early in the selection process. Candidates should refer to multiple sources to understand market rates for their skill set. “Check the Robert Half 2018 Salary Guides, and talk to specialized recruiters, industry groups and your network so you can prepare for the salary conversation,” the staffing firm said.
You don’t have any experience in the field you want to pursue.
Robert Half suggests pinpointing transferable skills and finding other ways to gain experience. “Highlight examples on your résumé that show how you’ve helped companies save money, create efficiencies, and find new business — these skills are valued by any firm,” the staffing firm advises. Candidates should also show their abilities to train, learn, take on new duties, and collaborate. Graduates can gain relevant experience by volunteering their time with an organization that needs their skills. “If you’re interested in the marketing field, for instance, offer to redesign the website, write a blog or plan a fundraising event. Add that experience to your résumé and LinkedIn profile.”
You’re thinking about returning to school for a graduate degree to help you get a better start to your career.
The staffing firm advises new graduates to “think carefully and consult others.” Before investing substantial time and money in another degree, they should know the expected return on their investment. Grads should talk to people in the field to see if it’s a must-have or nice-to-have in their chosen industry. “In some situations, a certification or technical skill may be in greater demand — and command higher pay — than a master’s degree.”
The starting salaries you’re seeing in your field are too low. You need to make a lot more to cover bills, student loans, rent, and other expenses.
Robert Half suggests that graduates change their mindset from what they need to what the market will pay. Hiring managers don’t base a salary decision on what the candidate needs or wants; their focus is on supply and demand. Highly specialized skill sets that are in short supply command higher pay. If salaries in a field are too low, job seekers should consider taking on extra work as a contract employee or pursuing a different industry.
You’re feeling alone in your job search.
The firm advises new graduates to “spend less time on your devices and more on face-to-face interaction.” The job search can be isolating, particularly when people spend most days behind a computer looking online for jobs. Leads to new contacts and jobs can come from anywhere, so grads should spend time interacting with new people at volunteer activities and industry events.

Excellus urges customers to come forward for unclaimed funds
Hundreds of people and companies in Central New York, and thousands across the state, have not cashed more than $2.1 million in checks that Excellus BlueCross BlueShield and its parent company have issued. Rochester–based Excellus, which has an office in DeWitt, is Central New York’s largest health insurer. These checks were issued to members and
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Hundreds of people and companies in Central New York, and thousands across the state, have not cashed more than $2.1 million in checks that Excellus BlueCross BlueShield and its parent company have issued.
Rochester–based Excellus, which has an office in DeWitt, is Central New York’s largest health insurer.
These checks were issued to members and providers in 2014, but were never cashed, the health insurer said in an April 25 news release. If the funds aren’t claimed by the end of August, Excellus is required to turn the money over to New York State.
A complete list of names of people and companies with checks to claim is available on the company’s website at ExcellusBCBS.com/UnclaimedFunds, the nonprofit said.
“This is money that was paid for claims or refunded premiums,” Jim Reed, regional president of Excellus BlueCross BlueShield, said in the health insurer’s news release. “It rightfully belongs to our members or providers, and we want to make sure they have one more chance to claim it before it goes to the state.”
Most of the checks that have yet to be cashed were allocated to Excellus BlueCross BlueShield members and providers, who may have forgotten to cash the checks, moved and left no forwarding address, or died, the health insurer said.
To claim a check prior to Aug. 31, current Excellus members can call the phone number listed on their member identification card.
Former members, or those calling on behalf of the estate of a family member, can call Excellus at 1-800-499-1275.
The health insurer says it will mail the checks to claimants on or before Aug. 31.
Brown & Brown posts nearly 30 percent rise in Q1 net income
Brown & Brown, Inc. (NYSE: BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, recently reported that it earned nearly $91 million, or 32 cents a share, in the first quarter. That’s up almost 30 percent from the $70 million, or 25 cents per share, that the insurance brokerage company earned during the
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Brown & Brown, Inc. (NYSE: BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, recently reported that it earned nearly $91 million, or 32 cents a share, in the first quarter.
That’s up almost 30 percent from the $70 million, or 25 cents per share, that the insurance brokerage company earned during the same period in 2017, Brown & Brown said.
The firm generated revenue of $501.5 million during the first quarter, nearly 8 percent higher than the $465 million it generated in the year-earlier quarter.
“We delivered solid results for the quarter with strong top and bottom line growth, with our net income per share benefiting from a lower effective tax rate resulting from tax reform,” J. Powell Brown, president and CEO of Brown & Brown, said in the earnings report.
The company’s board of directors declared a regular quarterly cash dividend of 7.5 cents per share, to be paid on May 18, to shareholders of record on May 9.
Brown & Brown Empire State is headquartered at 500 Plum St. in Syracuse’s Franklin Square area. It also has offices in Vestal, Rome, and Clifton Park, according to the firm’s website.
Big I New York hails defeat of proposal that would have hurt small insurance agencies
DeWITT — Big I New York, which describes itself as the Empire State’s “oldest” insurance producer trade association, says it mounted a “successful effort” to defeat a state-budget proposal that would have “seriously harmed” small insurance agencies. The recently enacted state budget does not include an “extreme increase” in fines for accidental violations of state
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
DeWITT — Big I New York, which describes itself as the Empire State’s “oldest” insurance producer trade association, says it mounted a “successful effort” to defeat a state-budget proposal that would have “seriously harmed” small insurance agencies.
The recently enacted state budget does not include an “extreme increase” in fines for accidental violations of state law, Big I New York said in an April 12 news release.
“The proposed increase in fines and penalties could have put small insurance agencies out of business,” Richard MacDonald, chairman of the Big I New York board of directors, contended. “Many violations are unintentional and the result of a misunderstanding about requirements. Mistakes like that should not jeopardize a business’s existence.”
DeWitt–based Big I New York is the rebranded name of the former Independent Insurance Agents & Brokers of New York Inc. (IIABNY).
Under current law, the fine for most violations of New York insurance law is $1,000 per offense. The proposed state budget would have increased the penalties where the violation related to either the failure to pay a claim or to making a false statement to the superintendent of financial services or the New York State Department of Financial Services.
The new penalty would have been the greater of $10,000 for each offense or two times the damages attributable to the violation or the economic gain realized from the violations.
Insurance agencies are subject to a variety of complex laws and regulations, according to Big I New York.
While making a “good faith effort” to comply with them, an insurance producer might “unintentionally” make a false statement, the group contends. For example, agencies must annually certify that they comply with all applicable parts of New York’s new cybersecurity regulation. An agency owner may mistakenly believe he has met the requirements and falsely certify that the agency is in compliance. Under the governor’s proposal, that mistake could have resulted in a $10,000 fine.
“Disproportionate” penalties like that could have been “difficult or impossible” for small agencies to absorb.
Big I New York “led the fight” to remove the fine increases from the budget. As a result, the increased fines were not part of the spending plan the legislature adopted in late March.
“The law is the law, and we of course believe that agencies are responsible for complying with it,” MacDonald said. “However, we also believe the penalty should not be extreme for an innocent mistake. The proposed fine increases were extreme and unjust, and we fought hard to protect our members from them. We are gratified that the legislature chose not to adopt them.”
Big I New York says it advocates for the educational, political, and business interests of its more than 1,750 agencies and their 13,000-plus employees.
3 Reasons Saying “I’m Sorry” and “Thank You” Can Change Corporate Culture
Companies that train their employees in what are commonly referred to as “soft skills” are finding those efforts pay off in productivity and retention. People with soft skills are adept in areas such as interpersonal communication, leadership, problem-solving, and adaptability. But often still missing in the soft-skills department, some corporate analysts say, is the willingness
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Companies that train their employees in what are commonly referred to as “soft skills” are finding those efforts pay off in productivity and retention.
People with soft skills are adept in areas such as interpersonal communication, leadership, problem-solving, and adaptability. But often still missing in the soft-skills department, some corporate analysts say, is the willingness to show an even softer side — specifically, saying “thank you” and “I’m sorry.”
Simple as they sound, those phrases — which most of us were taught by our parents as good manners — are often difficult for many people in the corporate culture to say.
But there is great value and power in saying “I’m sorry” and “thank you” in the corporate world. The first time someone apologizes or expresses gratitude, the whole environment shifts.
I’ve observed corporate cultures become healthier when workers and leaders learn more about each other, care about each other, and communicate better. As a result, they work better together.
So many people in today’s corporate culture have lived through not being valued in the workplace. As we moved from the industrial age to technology, the thing that got left behind was the human element. People are starving for the human touch.
Here are three reasons why saying “thank you” and “I’m sorry” carry power in the corporate culture.
Rebuilds relationships
Leaders who can put themselves in the shoes of an employee whom they berated can build strong bridges throughout the company by apologizing and showing a more respectful approach next time. People feel more valued and no longer threatened. Every word you speak is an act of leadership as you influence others. A thank you to a deserving employee also forges a more trusting, respectful relationship. Being specific and genuine with the thank you heightens a person’s self-image, their view of the workplace, their boss and co-worker, and motivates them to keep up the good work.
It shows character
Humility shown in saying “I’m sorry” is essential to leadership, as well as to the rank-and-file, because it authenticates a person’s humanity. Saying “thank you” reflects an appreciation for others that is essential in building a successful team. Competence is no substitute for character. When people see a co-worker or boss doesn’t thoughtlessly put themselves above them, bonds and productivity grow. Character is a key element that attracts people and builds the foundation of a business.
It energizes everyone
It’s easy to get wrapped up in daily business obstacles or an overloaded email box and skip saying “sorry” or “thank you.” But when these new habits are formed, showing that everyone values everyone else, a spirit of cooperation flows like a river throughout the company, creating a consistently positive culture.
The relationship qualities, founded on mutual respect, that were common 100 years ago are still essential today, and without them, organizations fail. Walls go up, people get alienated, and can’t work together anymore.
Keith Martino (www.KeithMartino.com) is head of CMI, a global consultancy founded in 1999 that customizes leadership and sales-development initiatives. Martino is the author of “Expect Leadership,” a series of four leadership books — The Executive Edition, in Business, in Engineering, and in Technology.
Don’t Think Training First for Employee Development
Here’s a quick question. Where did you have your most impactful learning experience? A. In a class or a courseB. In a meetingC. At a conference or in a workshopD. In your work, completing a project or task Did you answer D? I’ve asked this same question numerous times to organizational managers, leaders, and at presentations that I’ve given,
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Here’s a quick question. Where did you have your most impactful learning experience?
A. In a class or a course
B. In a meeting
C. At a conference or in a workshop
D. In your work, completing a project or task
Did you answer D? I’ve asked this same question numerous times to organizational managers, leaders, and at presentations that I’ve given, and the responses are always the same. The vast majority (around 80 percent) agree that their greatest learning experience happened while doing actual work — solving a problem, completing a task, and/or collaborating with others. Interesting too is that this high response rate reinforces some research initially done at the Center for Creative Leadership in the 1990s. It was here that the 70-20-10 principle was born. If you’re not familiar with this principle, these numbers loosely represent the percentages of how people learn in an organization.
– Most learning (the 70 percent) happens in the work being done, through experiences
– Some learning (the 20 percent) happens through our social interactions — collaborating, sharing, and story-telling
– Far less learning (the 10 percent) happens through training, courses, and classes
Of course, the exact percentages are not important and can vary depending on your context (for example: a new employee, or novice, may learn more in a formal on-boarding program). However, as people grow in experience and knowledge, they need less training and more opportunities to connect and reflect. Are we doing enough of this — or are we trapped in the 20th century’s training-first paradigm?
If you’re a small to mid-sized business, it’s time to look forward, not back. The learning and performance landscape of the 21st century is very different than the landscape of the 20th century that created the likes of IBM, HP, Blockbuster Video, and Kodak.
Change happens quickly, so both employers and employees need to consider supporting faster ways of learning. For employers, a workforce that can continually learn, improve, connect, and collaborate is more responsive to change. Similarly, workers who have a strong network and can find what they need right when they need it gain skills faster than through a traditional academic course model. (Source: https://www.innosight.com/insight/creative-destruction/)
Today’s organizations need to better support all the learning that’s happening. If it’s not apparent, here are more reasons why creating a framework to encourage and enable 70:20:10 is necessary.
It’s the answer to complexity
The world of work, markets, and technology are changing constantly. Adopting permanent approaches, structures, and tools makes no sense as the lifespan is short and technology is expensive. Best principles, not practices, are needed today, and agility and speed win. The 70:20:10 approach reduces friction on the workflow by allowing learning and work to be more closely tied.
It’s simple
Adopting 70:20:10 requires no new software, training, or infrastructural changes. It’s a mindset shift from compliance, completion, attendance, and direction to support, enablement, guidance, and modeling. We need to let go of industrial-era approaches to performance improvement which often create unnecessary layers of work upon the actual work. The 70:20:10 mindset is about paving the cow path not creating new roads.
It’s about doing, not learning
If you go by the numbers, about 90 percent of 70:20:10 is in and around doing actual work. The 70:20:10 plan is about work getting done better, faster, and more efficiently by making work more visible and encouraging people to connect and collaborate. It’s about reflecting on the work being done to bring forth new ideas and being conscious of the insights gained through doing the work.
It’s about autonomy
In a world of ever-change, a 70:20:10 framework doesn’t dismiss the importance of hiring right but it adds the understanding that new hires need less hand-holding. As adults, if offered freedom to explore, connect, question, and contribute, they will. The 70:20:10 approach isn’t anti-training, rather it ensures that training — with all its baggage around control and futile efforts at measurement of learning — is not the default response to performance-improvement efforts.
A few things you should ponder about the 70:20:10 framework include the following.
• About 90 percent of learning budgets are allocated to 10 percent of where real learning happens.
• People are more apt to reach out to a colleague or “Google it” before they access content in a learning-management system.
• Learning happens constantly and continuously, but in most organizations it’s unsupported and left to chance.
What should businesses be considering then?
First, culture. Most small to mid-sized organizations inherently have a more cooperative and collaborative culture. Look around. Are your employees continuously seeking innovative approaches and new ideas to inform their practices? Do they openly reach out for assistance and are willing to share insights? Do they have easy access to various content sources inside and outside the organization such as Intranet and Internet? If you don’t trust the people you hired to make good decisions for themselves and the organization, why did you hire them?
Second, management. If you have a management layer, are your people focused on deadlines and deliverables and reporting out as well as communicating down? This is traditional thinking. Not that it’s not important to meet work demands and communication, but if the organization is to be more open, managers need to become coaches and mentors and focus more on reducing barriers to getting work done.
Finally, technology. Most work today involves technology to complete critical tasks; this can include project-management tools to file structures and data aggregation. All serve to help get today’s work done.
However, what about preparing for tomorrow’s work? What’s on the horizon is no longer decades away. Collaborative technology or enterprise social networks are superior to email to ensure ongoing conversations, sharing, and community building across the organization. Social tools help not only improve communication, but also increase the opportunity for collaboration through diverse opinions where innovative ideas are often born.
Your company’s newest solution or service resides not in a single individual but between people, in their conversations. Social technology may be the single greatest tool to help your company to remain a positive, productive culture.
Today, the need for organizations to remain responsive is critical. Circumstances can change quickly from new technology adoption to market shifts. Disruption is more the norm than the exception, and the ability of your employees to be aware and respond is now necessary. Training was the ideal primary solution when conditions were more stable and it still has its place when done well and for the right reasons such as when learning something for the first time. However, training ultimately helps to solve the problems we know. Collaboration, cooperation, and experimentation help to solve the problems yet to come.
Mark Britz is a workforce-performance strategist who has launched ThruWork (ThruWork.com), a talent-development consultancy for small to mid-sized businesses. The company specializes in solving organizational performance problems and focuses on non-training approaches to scale employee performance. He has a bachelor’s degree from SUNY Oswego and a master’s degree from Syracuse University. Contact Britz at (315) 552-0538 or email: mark@thruwork.com
4 Tips for Men Mentoring Women During a Sensitive Time in the Workplace
Inappropriate behavior toward women in the workplace has sparked a national conversation about sexual harassment. The #MeToo movement exploded on social media, celebrities were embroiled in allegations of sexual misconduct, employers were sued, and employees dismissed. While this tidal wave of public attention has generated some positive change, business leaders and work-culture observers wonder how
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Inappropriate behavior toward women in the workplace has sparked a national conversation about sexual harassment. The #MeToo movement exploded on social media, celebrities were embroiled in allegations of sexual misconduct, employers were sued, and employees dismissed.
While this tidal wave of public attention has generated some positive change, business leaders and work-culture observers wonder how the fallout will affect male-female working relationships down the road, including within the mentoring dynamic.
As a business owner and attorney, I think it’s time to turn the conversation positive and view how male-female mentoring has successfully impacted careers and companies. This time of raised awareness provides the chance to improve mentoring and make it even more meaningful.
I would like to encourage my business-owner peers to change the tone of this conversation and focus on the many successful male-female work relationships we have each seen, fostered, and benefited from forging. A workplace is super-charged by having a mix of well-mentored men and women.
At a time when men might be pulling away from mentoring to avoid any hint of impropriety with a female colleague, we need more men to mentor women because they’ll be helping to positively change the workplace.
Here are four tips for male business leaders when mentoring women:
Focus on professional progress
Rules for mentoring should be the same for a woman mentoring a man or a man mentoring a woman. What’s the mentor or mentee’s motivation for entering into this mentoring relationship? You focus on skills, talents, goals, and competencies. Feedback is constructive. You keep it real by not veering off the track of professional growth.
Think of mutual growth
Well-planned and executed mentoring is a win-win for both the mentee and mentor. Both individuals can grow substantially from the relationship. Focus on developing the women and men on your teams through impactful mentoring that elevates both the mentor and the mentee. As a male business owner, I owe a tremendous amount of my own success to the incredible mentorship of my female colleagues. Male business owners need to seek out their female mentors as they add a different dimension to how we plan, execute, and build our business.
Ask, if you’re unsure
Colleagues can help you understand what is considered inappropriate behavior and what is acceptable. Something that was a compliment years ago might be considered an inappropriate comment today.
Practice common courtesy, respect
Treat a female colleague as you would any other colleague. Men should take the extra step of educating themselves on the definition of sexual harassment and what it means to women in a professional setting. Be a good listener and exhibit common courtesy, as you would show any person.
Male business leaders have a great opportunity here to be great role models, impactful mentors, and help women continue to diversify the talent of their companies.
Peter J. Strauss (www.peterjstrauss.com) is an attorney, captive insurance manager, and author of several books, including most recently “The Business Owner’s Definitive Guide to Captive Insurance Companies.”
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.