The Edge for March 2021
Let’s face it. We've been through a lot since the early days of 2020. COVID-19, business closures, travel restrictions, social unrest and political upheaval. So we asked New Jersey business executives how the past year has changed them, and whether these changes are permanent. Here is what they said:
The Pandemic has Forced us to Diversify our Business – in a Way that Helps the Planet
In March 2020, calls of concern from our commercial tenants began to trickle in. The pandemic was as worrisome for them as it was for us. In some cases, when tenants we’re struggling to pay rent, we agreed to payment plans. Some tenants asked to vacate before the end of their lease term, and we did our best to accommodate. It was a scary and uncertain time. Our livelihood is dependent on the success of the businesses we lease space to. It became starkly clear that we would better manage through uncertain times if we had more diverse revenue streams. The pandemic forced us to think this through. We will soon announce a plan to diversify our business, and we made combating climate change a big part of it. If we want our business to survive for generations, we need to diversify – and invest in ways that ensure our planet is prosperous – environmentally and socially.
– Christina PioCosta-Lahue, CEO, Rensselaer Commercial Properties
I Learned to Delegate
When COVID-19 hit, we shut down the office and started doing all meetings via Zoom. It was challenging and difficult to capture prospects’ attention through a screen. However, once everyone adjusted, it became easier to manage. We have learned to work as a team, even while remote. This affected me personally because, before the pandemic, I tried to do everything I could on my own. I would try to be everything and everyone within the company. Since I no longer was able to tap the resources I had in the office, I was forced to delegate tasks to my colleagues. COVID-19 has taught me that it is okay to not be involved in every aspect of my business 24-7. I hired employees for a reason, and they do a fantastic job!
– Jonathan Kramer, President and CEO, Progressive Payment Solutions
I Check in with Others Daily
The past year has impacted my view of employee stress and the importance of positive and engaging leadership. Doing the right thing is a must. The mental strain that COVID-19, politics and the racial divide takes on employees has prompted me to check in with others daily. Whether its employees, clients or prospects, we don’t know what’s happening in their world. Just asking, “How are you? Your family? Your parents? Your children?” goes far. I have learned many things that I will carry far into the future.
– Gregory M. Smith, Executive Vice President and President of Commercial Banking, Peapack-Gladstone Bank
Connecting with People has Taken on a Higher Priority
The pandemic has reminded me about the importance of meaningful conversations with members, staff and fellow CPAs on everything from taxes to client struggles to family pets. In the midst of remote calls and virtual everything, connecting with people has taken on a higher priority. It is something I will continue as the pandemic subsides.
– Ralph Albert Thomas, CEO and Executive Director, NJCPA
This Year has Reinforced my Faith in the Goodness of People
As a hospital CEO, the experience of COVID-19 has been close and personal to me. Throughout my 50 years in the health field, I cannot think of a time like this. As terrible as the experience has been, there is a silver lining: It has reinforced my faith and belief in the goodness of people. Every day, I watch the 2,700 employees, 500 physicians, and the many trustees, volunteers, and auxilians of Trinitas Regional Medical Center look beyond themselves to serve others. Their service to over 13,000 COVID-19 patients has been inspiring. We have turned the corner on COVID-19, but their extraordinary work – and my admiration for them – continues.
– Gary S. Horan, President & CEO, Trinitas Regional Medical Center
Diversity and Basic Human Decency is More Important than Ever
Building a culture that embraces diversity and basic human decency is more important to me than ever. There’s always an opportunity to reach higher. A year of working remotely has demonstrated the value of in-person interactions with my colleagues. Once it’s safe to return to the office, I don’t think I’ll ever take human contact for granted.
– Dennis Wilson, President and CEO, Delta Dental New Jersey and Connecticut
Less Time on the Road, More Time Strategizing
In-person meetings have now been replaced with video conferences, which have eliminated long drives in traffic, worries about being late and the costs of fuel and tolls. I have used the newfound time to strategize with clients, spend more time with my family and colleagues, and – importantly – exercise. While we do lose something by not meeting in person, I expect that the use of virtual meetings will continue post-pandemic. The added benefit is reduced emissions and less air pollution, which is good for everyone.
– Dennis M. Toft Chair, Environmental Group, Chiesa Shahinian & Giantomasi PC
Take a Step Back to See What's Important
I think we’ve all taken time to reflect on how the past year has profoundly changed our lives. For me, I’ve found three things to be true. I’m much more flexible and we’ve learned how to respond very quickly to challenges at work and at home. It also has reinforced just how powerful perspective is and taking a step back to see what’s important, whether it’s health, family, working for a company or with colleagues who are supportive. And this one may seem obvious – it has made me much more aware of the value of human connection on personal and professional levels. I look forward to the day when we can return to in-person touchpoints.
– Yanela Frias, President, Prudential Retirement
I Appreciate the Small Things
The pandemic has taught me the importance of being able to reset and recharge. I am checking in with family, friends, my teams and clients – and I am grateful for those relationships. I appreciate the small things in life. I’m acting on the to-do's around the home that I’d previously set aside. Taking walks around the neighborhood, connecting with neighbors, and supporting local businesses. Learning new skills. In my case, learning to cook (and when not successfully, being thankful for local restaurants). Lastly, and most importantly, I am maintaining a sense of humor, because years from now, we’ll all remember 2020 for the rollercoaster it was and how we weathered the ride. Regardless of our backgrounds, we all have a story to tell.
– Swati Patel, Senior Manager – Assurance, Ernst & Young
I’m Learning to Fit my Work and Family Priorities Together in New Ways
The past year has given me the flexibility to do something I never thought possible. I’ve gotten to spend extended periods of time living in the two places I love the most – the mountains and the ocean – without missing a single day of work. I’ve been able to do more around the house, spend more time with my wife and dogs, and prepare more meals instead of relying on take out. While I’m still always connected, and probably more than I should be, I’m learning to fit my work and family priorities together in new ways.
– Glenn L. Friedman, CEO of Prager Metis International and Co-Managing Partner of Prager Metis CPAs
I Miss Meeting People
I used to go to networking events religiously and I love meeting people. I miss that a lot. But we have seen a boost in business during the pandemic. People are relying on local news more than ever, and businesses want to reach those local readers. As a result, at TAPinto, we've seen readership increase 70% and advertising go up by 17% in just the last year.
– Michael M. Shapiro, Founder and CEO, TAPinto.net
We Control How We Adapt, Learn and Grow
Working from home has helped me understand how important it is to be flexible. More than ever, it is important to me to ensure that my clients and colleagues knew I am there to help them. COVID-19 taught us that things can change in an instant, and we need to be prepared for various scenarios. We can’t control the circumstances, but we can control how we work to adapt, learn and grow.
– Christopher Giordano, Senior Accountant, EisnerAmper LLP
