Category: Chamber

The Chamber is excited to announce that the Annual Celebration and Chamber Awards are back

Posted on by Jeannine Lozier

Join the Chamber of Business & Industry of Centre County for this year’s Annual Celebration and Chamber Awards on Thursday, October 26, 2023. This is where we honor Centre County’s businesses, innovators, and entrepreneurs. Join us as we recognize our member’s outstanding contributions that bolster our region’s economic growth and contribute to a vibrant Centre County. This is a time for us to recognize and celebrate the outstanding accomplishments of our local businesses and those that work to provide impactful innovation to the economic vibrance of our wonderful area. We encourage you to nominate an outstanding business or employee that deserves such a recognition.  Sponsorships are also available.

To see our list of awards and submit a nomination form, secure your reservation or explore sponsorship opportunities click here: Annual Celebration & Awards – Chamber of Business & Industry Centre County (cbicc.org).

Intrada Technologies Announces Hiring of Cybersecurity Technician

Posted on by Jeannine Lozier

Intrada Technologies is proud to announce the recent hire of Caleb Hill. Hill recently joined Intrada full-time, as a Cybersecurity Technician, after working for over a year on a part-time basis. During that time, he was working on finishing his bachelor’s degree in information assurance & cyber security from the Pennsylvania College of Technology. He graduated and received his degree in May 2023. Hill will be responsible for safeguarding client computer systems, networks, and data from unauthorized access, theft, and damage.

His background in linguistics and poetry and his distinct Luddite streak (he got his first cell phone when he started with Intrada) make Caleb’s road to IT proficiency an unlikely one. His only previous experience with classic tech topics involved a summer fling with Python that ended in technical difficulties and a brief fascination with binary math. However, after two years of Penn Tech’s cyber security program, Caleb discovered Intrada Technologies at a job fair and was thrown into the fast-paced MSP environment.

Through a year of part-time work, his knowledge and understanding of IT soared to new heights. This experience gave him invaluable insights and practical skills that transformed his understanding of the field. He now enjoys working on the Intrada team, using his newfound IT knowledge to help others while working with the security operations team to design and implement cybersecurity services. He has recently completed the MS-900 Security Fundamentals certification from Microsoft and researches and writes about security topics.

David Steele, co-founder of Intrada Technologies, said, “Caleb has been an amazing addition to the Intrada team. He is very dedicated, pays attention to details, is loved by customers, supports other staff without being asked and continues to advance his knowledge to benefit the services we offer. Caleb is also very competitive and that was evident while watching him play for Intrada’s intramural soccer team.”
Intrada Technologies

Intrada Technologies
Intrada Technologies is a full-service web development and network management company focusing on creating ongoing, trusted partnerships with each of our clients. We ensure our clients have what they require to run their businesses with maximum efficiency and reliability, as many of their needs are mission-critical. Our unique, collaborative partnerships allow us to assure our clients that we will be there when they need us.

Workplace Culture is Your Biggest Asset

Posted on by Jeannine Lozier

SUMMARY

  • CEOs agree that workplace culture is their most powerful asset, yet it ranks low on their list of priorities.
  • According to research, a great culture affects reputation, hiring and employee retention.
  • Mark Miller suggests leaders start by making space for hopes and dreams, amplifying vision and values often, and adapting the aspiration as needed.
  • Systems like polls and surveys can help monitor the health of an organization’s culture.

586 words ~ 3 Minute Read

Leaders know that culture matters. But with so many problems to solve and goals to reach, it’s hard to make workplace culture a priority. In bestselling author Mark Miller’s recent book Culture Rules: The Leader’s Guide to Creating the Ultimate Competitive Advantage, he surveyed more than 6000 individuals from 10 countries. Although 67% of global leaders agreed that culture is their most powerful tool, workplace culture failed to show up in a top 10 list of priorities. 

Unfortunately, this disconnect has far reaching consequences. Culture affects everything from reputation to hiring to employee retention. In a Glassdoor survey, 56% of employees said workplace culture was even more important than salary. Elevating your company culture doesn’t have to be daunting, according to Miller. His book outlines a simple strategic framework to create a thriving high-performance culture. Below are three rules to help you define the culture you want, integrate your message into the workplace, and find success by listening, learning, and adjusting. 

Get Clear

Humans want to feel connected to something bigger than themselves. That’s why Miller’s first rule is called Aspire. Most leaders have already identified their organization’s aspirations—the difference here is communication. Miller advises leaders to translate their vision, mission, purpose, and core beliefs for employees. When aspirations remain unsaid, confusion reigns instead of culture. Maintaining values and articulating your vision not only outlines boundaries and expectations, it also creates a sense of shared purpose.

Repeat Often 

It’s not enough to announce your organization’s expectations. Instead, Miller says you have to Amplify them, which is the second rule in his strategic framework. Leaders can amplify their vision, mission, and core values in many ways, and Miller suggests using a variety of methods. The world is loud and distracting, and to build a better culture, employees need reminders. 

One technique Miller recommends involves looking at the last 30 days of your calendar and finding activities you personally engaged in that match your aspiration. Then, the goal is to strategize how you can use these same activities in the future to amplify your aspiration. This process can be far reaching, affecting everything from hiring descriptions to onboarding of new employees to recognizing team members who embody the mission and core values of your organization. 

Listen & Learn

Enhancing workplace culture is not a one and done proposition. The last rule Miller wants leaders to understand is Adapt. In other words, clarifying your vision and values is important, but how do they actually land with the people that work for you? Miller advises leaders to prioritize listening so that you understand if your aspiration is on target or if it needs an adjustment. Systems that help identify problems that affect workplace satisfaction are important ways leaders can monitor the health of the culture they’ve worked so hard to build. Listening sessions and surveys are great ways to take the pulse of your organization. HR morning has cataloged 45 sample questions to help employers build their own customized survey to measure workplace engagement and satisfaction. 

The Bottom Line 

Taking the time to reflect on the three rules of Miller’s framework—Aspire, Amplify, and Adapt—will help you develop and maintain a healthy workplace culture. The long-term benefits for organizations are huge when people are more connected to their idea or mission because that will make them more invested in it. It’s up to leaders to carve out space for the hopes and dreams of their team members, so they can create a culture that allows all members of their organization to thrive.

FNB Foursome Wins 18th Annual Pat Houser Golf Tournament; Skills Foundation Wins Big

Posted on by Jeannine Lozier

With a score of 18 under par at the challenging Totfrees Resort, four golfers representing FNB Wealth Management claimed the title of 2023 Champions at the 18th annual Pat Houser Golf Tournament. Hosted by the Skills Foundation, the event raised over $43,000 to assist people with intellectual disabilities supported by Skills of Central PA in 17 counties.

Competing in a “shamble” format, 22 teams squared off in the tournament that memorializes a founding member of the Skills Board of Directors, Pat Houser. Besides the chasing the title of 2023 Champions, the golfers also had the chance to challenge one another in various other contests throughout the day. The “longest drive competition” was won by Frank Wiley (Lynn Warehousing team), from the 12th tee box. The “longest putt contest” was won by Jason Nagy (Sheetz team) on the 18th green, and the “closest to the pin” award went to Bill Wilkinson (FNB Team). Joel Confer Toyota offered $10,000 cash to any contestant that could land a “hole in one.” However, the huge prize went unclaimed, in spite of some great efforts that included two competitors just inches from the hole.

Gavin Howe, Shane Crawford, Vince Strugala, and Bill Wilkinson comprised the winning team from FNB Wealth Management. Finishing second overall, was the Mainline Pharmacy team, with a scorecard showing twelve under par. Third place went to the foursome representing Sheetz Inc.

A special raffle was conducted to raise additional funds, giving all those who purchased a ticket the chance to win a week-long stay at a beach house in Ocean Isle, North Carolina. The drawing took place at the conclusion of the golf outing, and Todd Miller, from Howard, PA was the lucky winner.

The winning foursome from FNB Wealth Management scored 18 under par in the 18th annual Pat Houser Memorial Golf Tournament, which raised over $43,000 for the Skills Foundation. Left to right are Vince Strugala, Bill Wilkinson, Gavin Howe, and Shane Crawford posed on the fairway at Toftrees Resort.

The Best Business Tax Strategy? Being Tax-Free, of Course. Here’s How.

Posted on by Chamber of Business & Industry Centre County

In 2006, second generation business owner Ken Baker needed to create some liquidity to address some financial obligations. His company, NewAge Industries in Southampton, PA was a small but successful manufacturer of plastic tubing and hose. The company was started from scratch by his father, who decided to retire after many years at the company.

Ken looked into taking on a loan, but was not enamored with the additional debt. He then learned about an “ESOP” an Employee Stock Ownership Plan. After much research and deliberation, Ken sold 30% of the company to his employees. Because an ESOP is part of an ERISA sanctioned trust, with employee shares held within that trust, the profits of Ken’s company were now 30% tax free. That’s right, TAX FREE, both Federal and State of PA. And in addition, the employees pay nothing. Not a penny.

 Immediately after converting to employee ownership, Ken’s company began to grow. The employees now had a real stake in the organization’s profits. Employee owned companies are, on average, as much as 8-12% more productive, year-over-year, than traditional companies, according to the National Center for Employee Ownership. Over the next 12 years, the company share price grew over 1,100%, with Ken still owning the vast majority of the profits. In 2019, Ken sold the balance of the company to the employees at a dramatically higher share price, reaped tremendously greater rewards than he would have, and NewAge is now a 100% tax free organization. Ken remains as CEO, managing all day-to-day operations, and even owns shares as an employee in the ESOP. The tax benefits have created additional cash and contributed to the growth of the company.

Here is how it all works.

Employee Ownership rewards owners, preserves legacy, creates real financial futures for workers, keeps businesses here in Pennsylvania and bolsters the economy. And yet very few know about ESOPs.

ESOPs are not a trick or a loop-hole device. They are a US Department of Labor program, established in 1974 by Senator Russell Long and economist Lewis Kelso. Generally designed for businesses with 20 or more employees, the goal was to create a deferred tax program that would allow business growth and address the ever concerning problem of retirement for workers. When employees leave the business, via retirement or otherwise, they can cash in their shares and pay ordinary income tax, just like a 401(k). The difference is that employees pay nothing for this benefit.

 The Exit Planning Institute estimates that, due to the aging of the Baby Boomers, as many as 4 million companies, large and small, will transact within a 10-year period. It is further expected that up to 30% of those businesses will simply disappear. These facts make succession planning a critical business issue. So what is your strategy for succession? For growing the business? For caring for your family? Employee Ownership is not only an exit/succession planning alternative but is also a business growth strategy. 

But what if your business does not have 20 employees? What if you are a Main Street or Commercial Corridor business? A café, hardware store, retail, or service organization? There’s a relatively new program called an Employee Ownership Trust that is designed specifically for smaller organizations. Just like an ESOP, a business owner can sell some or all of the shares to the employees for an agreed upon amount. The shares of the business are held in a Perpetual Trust, and the profits of the business belong to the employees in a way designed by the selling owner and the employees.

 The owner(s) reap value from their years of work and the employees now profit from their daily efforts. Although relatively new in the US, EOTs have been common in the UK for generations. The large UK Department Store, John Lewis, has been employee owned for over 100 years! You can read about them here.

The Pennsylvania Center for Employee Ownership is a 501(c)(3) nonprofit that exists for one reason, to raise awareness about a remarkable program that can benefit business and business owners. We sell nothing and charge nothing for our work. We do not provide accounting or professional services. We are a volunteer collective of CEOs with experience in various forms of employee ownership; professionals in the industry (CPA’s, Attorneys, Wealth Managers, etc.); and Foundations and Universities (Rutgers, University of California San Diego, University of Pittsburgh, Chatham University). We are dedicated to simply helping to raise awareness about an important program.

If you would like to learn more about ESOPs and employee ownership, join us for the Chamber’s next Coffee Conversations on Thursday, September 7, from 8:30 – 10:00 am at the Chamber office, 131 S. Fraser Street, Suite 1, State College, PA 16801.