TOP ISSUES DISCUSSED AT VIA CEO FORUM FORUM

On December 2, 2022, approximately 55 Santa Clarita Valley-based CEOS, Presidents, Business Owners, and Top Executives gathered at the VIA CEO Forum to discuss top issues identified through a multi-question survey circulated to SCV business leaders in mid-2022.

Through the survey, several topics were identified by Santa Clarita Valley based businesses as most critical for the next 2-5 years. The following three topics/questions were selected as top priority and included in the discussions at the Forum:

• How has the infrastructure of your workplace changed post-covid?

• Inflation is at a rate not seen since the 1970s. How are you coping? How much flexibility do you have? Can you add surcharges? Have contractor’s bid times been reduced? How does inflation affect your business?

• Emerging Workforce - What are you seeing with new entry level employees? Has that changed? What skills are needed?

Some of the takeaways from those discussions are shown below with a full CEO Forum report available for review at www.via.org.

INFRASTRUCTURE:

• Businesses must offer hybrid work environments to remain successful. Management must be aware there are two different work patterns and find ways to blend them both into company culture.

• Businesses must more closely monitor employees working virtually for productivity, engagement, and the possibility of mental health needs.

• Zoom meetings continue to be necessary but should be closely monitored so as not to prevent work from being accomplished.

• Continuing training and education of the emerging workforce is critical to ensure employers have sufficient skilled employees for the future.

INFLATION:

• Businesses must increase productivity to remain successful.

• Businesses must be prepared to renegotiate contracts where possible

• Businesses must raise prices when they can be justified

• Note: If inflation is affecting your clients, it is affecting you

• Companies are not replacing retired positions – simply spreading work across existing employees which carries a psychological impact.

• Are we really IN the recession yet or is there more pain to come?

EMERGING WORKFORCE:

The emerging workforce was by far the most active discussion conducted at the 2022 VIA CEO Forum. • The younger workforce carries important critical skills – they are able to catch up with technology much more quickly than the older workforce, however, there is still a learning curve in other arenas.

• Although technical knowledge is critical, it is not a replacement for hard work, perseverance and following through on one’s word.

• New employees in their mid-late twenties want jobs that “make a difference.”

• Entry level employees must focus on their emotional intelligence, interpersonal skills, general understanding of finance and self-reflection.

• Business owners must set aside the necessary time to engage with supportive actions and take advantage of teaching opportunities.

• Employers recognize the emerging workforce wants a real work/life balance. Although this has been a topic of discussion for years, the existing workforce does not really have such a balance.

• VIA’S Connecting to Success is a necessary program for future generations. General understanding of personal finances, ethics in the workplace, communication skills (written and verbal) etc., are necessary for career success.

• The aging workforce could have much more impact in helping train the emerging workforce.

• Entry level supply is low – price/wage sensitivity (wage expectations) are high.

• Following the pandemic, some youth have forgotten how to interact with people. Those who joined the workforce just before or during the pandemic have not had the opportunity to learn or utilize the skills they require.

• Great things come from all generations when they are able to work together effectively.