Terry Lundgren’s strategy and execution behind Macy’s transition from Chapter 11 to a retail powerhouseWritten by Gregory Jones
When Terry Lundgren was first approached by Macy’s in 1993, the retail company was bankrupt. Lundgren, who was chairman and CEO of Neiman Marcus at the time, was asked to come to New York to help turn around the company.
However, Lundgren had little interest in joining an insolvent company, especially since he had a good thing going at Neiman Marcus in Dallas.
With Lundgren’s ties to Neiman Marcus and his previous ties to Federated Department Stores as a former president and CEO of Bullocks Wilshire, executives at Federated persuaded Lundgren to come back with the idea of buying Macy’s.
“I thought that sounded pretty interesting, because I saw the synergy and the idea of the Macy’s brand being spread through the Federated stores,” Lundgren says. “It took six months to convince me, and then six months after that, we bought Macy’s.”
Today, Lundgren has built Macy’s Inc. into one of the biggest and strongest department stores in the country. The retail giant accounts for a third or more of the business for the brands that Macy’s is associated with. However, if you rewind just seven years, Macy’s wasn’t even big enough to advertise during its own Thanksgiving Day Parade.
“The No. 3 most-watched television program in America is the Macy’s Thanksgiving Day Parade after the Super Bowl and the Academy Awards,” says Lundgren, Macy’s chairman, president and CEO. “Fifty-eight million people watch the Macy’s Thanksgiving Day Parade every year. It was a spectacular event, and I couldn’t advertise on it, because we weren’t national.”
Lundgren watched the telecast as advertisements from Target Brands Inc. and JCPenney Co. Inc. aired on the parade, but none from Macy’s.
“I said, ‘We’ve got to fix this. We’ve got to think about how we get that Macy’s brand out there,’” Lundgren says.
Through well-planned and well-timed acquisitions and a strategy that brought Macy’s closer to its customers, Lundgren began to turn Macy’s into a force to be reckoned with, and the goal of advertising on the company’s own parade was beginning to look like reality.
“We had a lot of interesting turns in our industry and our company that really represent a lot of what happened in the industry over the last several years,” he says.
In October 2012, Lundgren spoke at an ACG Cincinnati luncheon event about the journey he and Macy’s has been on and what it took to build Macy’s into the powerhouse it has become.
After Federated Department Stores bought Macy’s in 1994, Lundgren became the president in 1997 and then the CEO in 2003. At that point, Macy’s was a $14 billion company with multiple brands and 250 stores.
Lundgren began to test the waters of expanding the Macy’s brand by combining it with other Federated stores.
“Business didn’t go up and it didn’t go down; it just became a non-event,” he says. “It surprised most of us, but we knew it wasn’t a negative.”
During the time of this testing, a prized department store came up for sale — Marshall Field’s in Chicago. Marshall Field’s had a stranglehold on the Chicago market and was powerful in the Minneapolis and Detroit markets as well.
“Those were three markets where we didn’t have any representation,” Lundgren says. “This was a natural opportunity for us to fill in the geography and have key stores in these very important markets.”
Lundgren negotiated to buy Marshall Field’s against one of his largest competitors at the time, The May Co., which was also looking to go national. Lundgren felt confident he had submitted a bid that was in the ballpark, but May Co. ended up offering several hundred million dollars beyond what Marshall Field’s was worth.
Although Macy’s lost to May Co. for the Marshall Field’s stores, Lundgren didn’t lose sleep, because he knew that it would have been wrong to overpay for the stores. He had seen that scenario before.
“We walked away, and that was probably the best decision that the board and my team made because everything changed and the credibility that I developed with my board from that point forward was a game-changer, because I had been CEO only for a year,” he says. “That process turned out to be really positive for all of us.”
One year later, in 2005, The May Co. was in trouble — it had paid too much for Marshall Field’s. The board fired its CEO and Lundgren went in to talk with May Co.’s lead director.
“We did a deal and got great talent merged in with our company,” Lundgren says. “Still today, some of my top leaders are from that May Co. acquisition. It was all good timing, and of course, we got Marshall Field’s through that.”
Now Lundgren had to make sure the company saved some money. It went from 11 operating divisions down to seven, taking out $1 billion of operating expense.
It sold Lord & Taylor for $1.2 billion, which May Co. owned, but was not consistent with what it was trying to do. David’s Bridal business was sold for $800 million. It closed or sold 80 department stores that overlapped and sold the credit card business to Citi Group for about $5 billion.
“That was a very big deal — this now was paying for the acquisition in a very significant way,” Lundgren says. “We were quickly getting our balance sheet in order as we were moving forward with these changes.”
Part of those changes was spending a year researching whether they could change the store names to the Macy’s brand.
“What would that feel like?” he says. “If you asked somebody, ‘Would you like to change the name from your favorite store called Lazarus or not?’ They’re going to say, ‘No, don’t touch my store.’ But if you just do it and you treat the store right and treat the people right and put in the right merchandise, people will generally respond to that, and that’s what happened.”
When it came time to make the national announcement that the department stores would take on the Macy’s name, Lundgren went to Chicago to announce it.
“In one day, we changed 400 department stores to the Macy’s brand,” he says. “We went from 250 stores in 2004 to 800 in a two-year time frame. We finally were a national organization and could advertise on the Macy’s Thanksgiving Day Parade for the first time in 2006.”
With Macy’s becoming a national brand, Federated decided it needed to align with its new direction. In 2007, Federated Department Stores became Macy’s Inc.
“Eight hundred of our 836 stores were called Macy’s and 36 were called Bloomingdale’s,” Lundgren says. “Calling the company Macy’s Inc. made more sense when people were thinking about who to invest in.”
Get close to the customer
Following the name change, Macy’s was on the move. However, the financial collapse in 2008 caused customers to cut down on shopping.
“They literally put their credit cards away and stopped shopping,” Lundgren says. “We knew we had to do something, and I wanted to do something anyway, but this was a really good time for change.”
Macy’s got rid of three operating divisions in the Midwest from seven and replaced them with a new idea.
“The idea of having a division that’s based in Cincinnati, Atlanta or San Francisco was to be closer to the customer,” Lundgren says. “The problem was we had gotten so big now that each division was looking after 100 or 200 stores, and they were in three, four or five states. They weren’t close to the customer. We had lost that connection.”
Macy’s took the three divisions that it eliminated and replaced them with 20 small satellite groups called districts. The districts had approximately 20 people acting as merchants and planners in each of these areas that would supervise 10 to 11 stores.
“They are in these stores every day, they are talking to our customers and sales associates and they are guiding us for what we should buy for Cincinnati or Columbus, Ohio, or Detroit and Chicago,” he says. “They are the ones who are influencing size, color, types of fabric and the brands that we need to carry.”
Becoming more in tune with the local communities forced Macy’s to do a lot of communication.
“It’s a missed point by a lot of big companies,” he says. “Lots of face time with me and my executive team is important. People want to follow your lead. They want to do what you want them to do, but you have to be clear and consistent.
“You can’t have a list of 28 things. You have to be clear, simple, direct, and you’ve got to say it over and over and over again. If you do that, people will respond.”
Having that local focus made all the difference in the world. It worked so well that even in 2009, when the recession was still clearly under way, those stores were outperforming the rest of the country because of the responsiveness to the local city.
“It didn’t take long for us to say, ‘We’re going all the way,’” Lundgren says. “We eliminated the other divisions and replaced them with 69 of these district teams around the country and had one buying office.”
Creating one buyer in New York City for all of Macy’s rather than the previous seven was a crucial move.
“Most of our suppliers are right up the street on Seventh Avenue in New York City,” he says. “One buyer goes to the Ralph Lauren showroom and says, ‘I’m ready to place my order.’ And they are standing at attention because instead of one of seven buyers, they better hope we like the line, because we’re a third of their business.
“We’re a third or 40 percent of everybody else’s business — Estee Lauder, Coach, you name it — Macy’s is the largest customer for almost everyone that we do business with.”
That consolidation has turned Macy’s into the only store you can buy certain brands because of the power it has with the one purchase mentality.
“The combination of that with the localization of the stores has really made all the difference in the world,” he says. “That was all rolled out in 2009.”
Macy’s executed on that strategy in 2010 and had one of the best years in the history of the company.
“We picked up more than $1 billion in same-store sales that year,” Lundgren says. “The year 2011 was significantly better than 2010. We picked up another $1.2 billion in same store sales. In 2012, we are off to a great start.”
Macy’s Inc. had fiscal 2011 sales of $26.4 billion across its more than 800 Macy’s department stores, 37 Bloomingdale’s stores, seven Bloomingdale’s Outlet stores, bloomingdales.com and macys.com. The company employs 175,000 people.
“I really relate it to that structure — the name change and allowing us to have a national presence but to act locally, and then the strategy, which we have executed the last couple of years,” Lundgren says.
- Look for the opportunities to build your business.
- Make strategic moves that position your company for growth.
- Understand what makes your business more effective for customers.
How to reach: Macy’s Inc., (513) 579-7000 or www.macys.com
The Rubik’s Cube — you may have seen this toy as a child and either solved it or became frustrated with and discarded it, never to think of it again. However, I ask that you recall this strategic puzzle now, as it is more relevant than ever in your business life.
There are more than 43 quintillion different combinations in which a Rubik’s Cube can be exhibited — that’s 18 zeros. That huge number makes it seem as though it would be impossible to solve the cube and have a solid color on each of the six sides, but it’s not.
In fact, speed-cubing competitions are often held and people try to break Australian Feliks Zemdegs’ world record time of 5.66 seconds to solve the cube. Michal Pleskowicz of Poland even holds the record of solving a Rubik’s Cube with one hand in less than 13 seconds.
Sales cycles, or buy cycles as I like to call them, are growing increasingly complex like a Rubik’s Cube. Information is readily available on the Internet and sales representatives — while still crucial to a sale — are brought in at later and later stages.
In fact, some reports say that a customer can know up to 80 percent of the information they will need to know before making a purchasing decision prior to speaking with any sales representatives.
As all this occurs, the Rubik’s Cube of that sale becomes more and more scrambled.
The analogy of the cube
Not only does the complexity of the Rubik’s Cube contribute to this analogy, but the sides of a Rubik’s Cube adeptly describe a sale.
Each of the six sides represents a person or department a sales representative will interact with in a cycle.
The salesperson never knows which combination he will be given in the Rubik’s Cube each time he calls on a customer. Things change on a daily and even hourly basis as customers deal with situations in their business, staff changes, budget requirements and every other critical detail of sales cycles.
It takes a very adept salesperson to understand how to solve each of these new combinations of colors by working with the situation to finesse the colors into the solved puzzle and — in a buy cycle — close the sale.
An untrained salesperson may find a sale daunting, but like those who train to compete in speed-cubing, a salesperson who trains in the best practices of selling, a complex sale can seem relatively simple.
Just like with a Rubik’s Cube, there are salespeople of varying capabilities. Some can solve the cube in six seconds, some in three minutes, others in a couple of days, and still others take months. It all depends on how much time they devote to the practice of turning those blocks and learning the intricacies of the cube.
Make an assessment
I am not advocating that you go out and purchase your own Rubik’s Cube to practice your sales — though they are a fun puzzle to play with. Instead, making an assessment of your strengths as a seller and then working to improve those areas where you’ve been lacking would be a better use of your time.
Even bad salespeople will close a sale every once in a while. But just like a person might solve a Rubik’s Cube by turning the sides without a plan, luck is not repeatable. You must know, as in any science — and selling is definitely a science — what you’re doing if you want to be able to repeat the action.
Over time, discipline in how you approach sales can speed up the process. I’m not saying that practicing selling will lead to a very quick sale as customers set their own parameters on their schedule, but if you know what you’re doing, you can speed up your portions of the sales process.
Practice will also help you better anticipate the twists and turns of the Rubik’s Cube that the sale will present to you. ?
Thomas M. Nies is the founder and CEO of Cincom Systems Inc. Since its founding in 1968, Cincom has matured into one of the largest international, independent software companies in the world. Cincom’s client base spans communications, financial services, education, government, manufacturing, retail, health care and insurance. Go to tomnies.cincom.com/about/
Whether it’s a major event such as Hurricane Sandy or simply a snow day, businesses need to be aware of the wage and hour implications of weather-related absences.
“It is important to have clearly defined policies in place that address the many pay-related issues that are involved with a weather-related closing,” says Jenny Swinerton, general counsel at Sequent. “In addition, it’s always a good idea to implement a contingency plan that identifies essential personnel who are vital to the continued operations of the company and establish procedures for communicating with employees regarding emergency closures.”
The same issues apply in cases when businesses close because of an outbreak of the flu.
“This is expected to be one of the worst flu seasons we’ve had in years, so it’s a good time for businesses to review their existing policies to ensure that they address all of the various issues that arise when an employer is forced to close for any reason.”
Smart Business spoke with Swinerton about weather-related absences and how the Fair Labor Standards Act (FLSA) dictates pay requirements.
What happens to employees’ pay when a business closes because of weather?
Employees are treated differently under the FLSA depending on whether they are classified as nonexempt or exempt. Briefly, nonexempt employees are those who are entitled to overtime pay. Exempt employees are those who are paid on a salaried basis and also meet specific legal requirements to be exempt from the overtime pay requirements.
The FLSA requires employers to pay their nonexempt or hourly employees only for those hours that the employees have actually worked. As a result, if a nonexempt employeed are unable to come to work or the office is closed, the employer is not required to pay them.
Exempt employees generally must be paid their full salary for any week in which they perform work. So, if an employer closes the office because of inclement weather or other disasters for less than a full workweek, the employer must pay the exempt employee’s full salary for the week. The employer may, however, require the exempt employee to use vacation or paid time off.
Does the length of a shutdown determine how you handle absences?
It really doesn’t matter for nonexempt employees because they’re paid only for hours worked. So if you shut down for a week, you don’t have to pay nonexempt employees during that time. With salaried employees, unless an employer suspends operations for an entire workweek, they must be paid their regular weekly salary regardless of the number of hours they worked. This becomes tricky with telecommuting because an exempt employee is often going to be checking email or responding to phone calls even while stranded at home during a storm. If exempt employees work for a small portion of the workweek, they must be paid for the entire week.
If you make deductions from exempt employees’ compensation for absences attributed to inclement weather, you may jeopardize the employees’ exempt status and incur liability for any overtime they may have worked.
What happens if an employer’s business is open, but exempt employees don’t show up?
If the employer remains opens during or after a natural disaster and an exempt employee cannot report to work, the Department of Labor considers this to be an absence for personal reasons. But deductions may only be made from the exempt employee’s salary in full day increments. However, it is important to remember that if a salaried employee performs even a little bit of work during the day, employers are still required to pay the employee’s full day salary.
What else should be considered?
Employees who are instructed to remain on call during inclement weather and who cannot use the time for their own personal benefit must be compensated for this time. Additionally, if employees are performing job duties outside their normal scope, such as sweeping the floor, they may be considered a volunteer and do not need to be paid for that time.
Read Sequent’s blog — frequent posts from a wide range of Sequent experts regarding HR, technology and consulting.
Jenny Swinerton is general counsel at Sequent. Reach her at (614) 410-2362 or firstname.lastname@example.org.
Insights HR Outsourcing is brought to you by Sequent
Over the past few years, many employers in Ohio have been looking at the Group Retrospective Program implemented in 2009 by the Ohio Bureau of Workers’ Compensation (BWC) as another option to garner savings when it comes to their workers’ compensation premium. Enrollment numbers have doubled each year, especially with employers that are of medium size and debit-rated by the BWC.
“If you are an employer in Ohio who has some claims in your experience — as accidents will happen — but also has a solid safety program in place, Group Retrospective Rating may be an option. Organizations that do not qualify for a Group Rating program or are seeing little savings from this program should consider Group Retrospective Rating as an alternative,” says Heather Vogus, vice president at CompManagement, Inc.
Group Retrospective Rating enrollment for private employers ends April 30 for the 2013 policy year.
What is Group Retrospective Rating?
Group Retrospective Rating is a performance-based incentive program designed to recover a portion of premiums for employers that reduce injury rates and lower associated claims costs. It is similar in concept to Group Rating, as companies are grouped together to be rated as if the group was one big company. However, with this program, companies continue to pay their own individual premium but have the opportunity to receive retrospective premium adjustments, such as refunds or assessments, at the end of each of the three evaluation periods performed by the BWC.
How are groups evaluated by the BWC?
Three evaluations are performed by the BWC at 12, 24 and 36 months after the end of the policy year. At the end of each period, the BWC looks at the expected losses of the group and compares those to the actual losses to calculate the group’s Retrospective Premium. If the premium calculated is less than the group’s total Standard Premium, the participants receive a refund for that period. However, if the premium is greater, an assessment will be levied by the BWC, but each group limits the maximum assessment by selecting a premium cap that can be factored into your budget so that your organization is prepared. Before entering a program, be sure to have a feasibility study created to ensure this program fits the risk tolerance of your organization and has the ability to garner appropriate savings.
Why should my organization participate?
If your organization is committed to improving workplace safety and accident prevention, as well as taking action to reduce the frequency and severity of accidents involving your employees, this program has the ability to attain premium savings to boost your bottom line. The BWC has just released statistics showing that the 2009 private employer Group Retrospective Rating program has refunded a grand total of $12.4 million to date, for an average of $33,940 per employer.
How is the Group Retrospective savings projection calculated?
First, the overall group premium is calculated. As an example, suppose the Standard Premium for the group is $4 million and the Minimum Premium, assuming 25 percent, is $1 million. Add Developed Losses, which is incurred losses multiplied by the BWC developmental factor of $1.4 million, and that equals the Retrospective Premium — the minimum premium plus developed losses — to give you $2.4 million.
The Group Retrospective Refund, which is the Standard Premium minus Retrospective Premium, is $1.6 million, and the Estimated Refund Percentage is 40 percent.
Using the estimated refund percentage of 40 percent from the group example above, a mid-sized service company, assuming a payroll of $1 million, may expect:
• Individual Premiums of $62,500
• Group Retrospective Rating Premiums of $37,500
• Group Retrospective Rating Savings of $25,000.
Savings reflected above do not include the additional savings that can be realized by also participating in programs compatible with Group Retrospective Rating such as Destination Excellence Go Green and Safety Council (participation rebate).
Heather Vogus is vice president at CompManagement, Inc. Reach her at (800) 825-6755, ext. 65440 or email@example.com.
Insights Workers’ Compensation is brought to you by CompManagement, Inc.
2013 CIN Pillar
Pillar Award for Community Service Finalist
vice president of customer care
Victoria’s Secret Direct
(614) 415-7000 | www.victoriassecret.com
Among its many community activities, Victoria’s Secret Direct joined with the Children’s Hunger Alliance to present the first Kids Day Backpack Bash for more than 500 children at Montgomery County Fairgrounds Historic Roundhouse in July 2012. The Kids Day event promoted the USDA Child and Adult Food Program, which provides hot meals and snacks for children ages 5 to 18 at approved after-school program sites during the school year.
In addition, Victoria’s Secret Direct has supported the Children’s Hunger Alliance’s Taste to Remember event since 2006 and contributed almost $34,000 to the event. Other corporate contributions include $95,000 in support of the Healthy Kids, Healthy Schools and Healthy Kids, Healthy Communities initiatives and the Children’s Hunger Alliance’s annual Menu of Hope event.
Each year, Victoria’s Secret Direct hosts Community Cares Week in Dayton. Community Cares Week supports multiple nonprofit organizations in the community with community service hours.
Melanie Rose-Billhardt, vice president of customer care for Victoria’s Secret Direct, has served as chair of the Children’s Hunger Alliance’s Southwest Ohio Regional Board, serving Cincinnati, Dayton and surrounding communities for five years. She also serves on the agency’s governing board.
Rose-Billhardt has worked to raise awareness of the Children’s Hunger Alliance by securing various marketing materials for board members to distribute when introducing the agency to corporate and community members.
She has contributed her time, talent and personal resources to advance the Children’s Hunger Alliance’s mission and vision, and she was instrumental in securing additional corporate funds to support the Kids Day 2012 Backpack Bash.
Pillar Award for Community Service Finalist
Union Savings Bank and Guardian Savings Bank
(513) 247-0300 | www.usavingsbank.com, www.guardiansavingsbank.com
The philosophy at Union Savings Bank and Guardian Savings Bank is straightforward: They get involved in community activities because it’s the right thing to do.
Led by CEO Louis Beck, the company’s service projects are employee-driven. Each month, the company holds an employee action committee meeting open to all employees. Anyone in the company can come and present a project or an organization close to his or her heart that he or she wants the banks to support.
Beck leads the company’s community giving. He is the driving force and sets a strong example through action. He never misses a community action committee meeting and constantly supports, encourages and motivates everyone around him.
The impact that Union Savings Bank and Guardian Savings Bank has on the community is far-reaching. Each year on Thanksgiving, the employees and families of Union and Guardian get together in the morning and carry out a major holiday initiative. They meet at the Kroger grocery store on Ferguson Road, load their cars and then deliver Thanksgiving dinners to needy families all over Cincinnati. Last year, they gave dinners to more than 900 families.
In addition, if not for Union and Guardian’s giving spirit, students at Ethel M. Taylor Academy, Lincoln Heights School and South Avondale School would not have the wealth of school supplies and backpacks the company provides; and the residents at Tender Mercies, a shelter for mentally ill homeless people, would not have Christmas presents and dinners provided by the company’s workers.
Nonprofit Board Executive of the Year Award
Ellen M. Katz
president and CEO
The Children’s Home of Cincinnati
www.thechildrenshomecinti.org | (513) 272-2800
Ellen Katz has been president and CEO of The Children’s Home since 2005, although she has worked with the agency since 1990. During this time, the agency has responded and adapted to the changing needs of children and families in our community and has received local and national recognition for quality service.
Today, Katz is focused on developing the vision and strategy to ensure long-term growth and success for The Children’s Home. She has grown the agency from 189 employees in 2005 to 270 today. That staff runs 25 programs and related activities serving 6,000 clients annually, up from 1,200 clients in 2005.
Under Katz’s leadership The Children’s Home of Cincinnati has seen its assets and endowment grow from $70 million to more than $81 million and its budget increase from $13 million to $19 million. Her work has impacted the community, helping thousands of children overcome significant behavioral and educational challenges.
Katz’s leadership has propelled The Children’s Home into a flexible, innovative organization that consistently responds to the ever-changing needs of vulnerable children and their families. She utilizes unique management techniques and processes, effectively harnessing for-profit business to help the 148-year-old agency adapt to changing economic circumstances.
These kinds of collaborations have resulted in higher quality and an increased impact of services, greater presence in the community and in increase in funding opportunities, as well as decreased duplication of community services and a better capacity to serve children with the greatest needs.
Pillar Award Finalist
founder and CEO
Systems Evolution Inc.
(513) 459-1992 | www.sysev.com
Systems Evolution Inc. is a close-knit company, which is why its employees were hit hard when a tragic accident changed the life of one their own. After a 2005 bicycle accident took the life of 10-year old Josh Helfrich, the son of SEI consultant Ann Helfrich, the consulting firm channeled the support and compassion of its team to found Josh Cares.
As founder and CEO of SEI, Dan Pierce has played a lead role in creating the charity and making it a focus of SEI. Several months after Josh’s accident, Dan and his wife reached out to Ann and her family with the idea to create a philanthropic initiative in Josh’s memory. The result was Josh Cares, a program within Cincinnati Children’s Hospital Medical Center.
The motivation behind Josh Cares is that no child should suffer through a serious illness and lengthy hospitalization without ongoing presence and support of a family member. Josh Cares provides these children with surrogate companions — Josh Cares Child Life Specialists — who can offer the love and support and help them connect them with classmates, friends and family who cannot be there.
Today, SEI employees lend their time, talents and financial support to Josh Cares. SEI individual employees have donated nearly $62,000 of their own money to Josh Cares to date. As a company, SEI has also led corporate donations to the charity since its inception, contributing nearly $50,000 in sponsorship support and employee giving matches. And through the volunteer efforts of SEI employees, Josh Cares has been able to raise an annual budget of $335,000 to support many children and their families in their time of crisis.
2013 CIN Pillar
Pillar Award for Community Service Finalist
Larry A. Sheakley
(800) 877-2053 | www.sheakley.com
Larry A. Sheakley, owner and CEO of the business services company Sheakley, leads by example. Dedicating a phenomenal amount of time and energy to community service initiatives and nonprofit work, Sheakley’s altruistic actions motivate his employees to involve themselves in volunteer efforts.
Currently, Sheakley serves on the board for the Cincinnati Music Hall Revitalization Committee and is actively involved with both the Oversight Committee of the Partnership for a Greater Cincinnati and the Lighthouse Youth Organization.
He has been the chairman of the Cincinnati Art Museum, co-chair of the Cincinnati Opera Capital Campaign, vice chair of the Taft Museum of Art, a board member of the Cincinnati Fine Arts Fund and a member of the Cincinnati Ballet Building Committee. He has held the positions of president of The Leukemia & Lymphoma Society of America local chapter and co-chair of Team in Training and Leadership Campaign board member for United Way.
Additionally, Sheakley has worked in the past to benefit Ohio employers as the president of the National Association of Unemployment Tax Organizations and as a member of the Governor’s Task Force on Employment Services in Ohio.
Sheakley, which provides business services such as payroll, human resources and workers’ compensation, was founded in 1963 as Raymond Sheakley & Associates. Purchased in 1980 by Larry A. Sheakley as a business with less than $1 million in sales and concentration in only one area, Sheakley has grown into a successful company of more than 2,000 employees with headquarters in Cincinnati and a total of nine regional offices in Ohio, Iowa and Tennessee.
Pillar Award Finalist
president and CEO
(800) 860-9495 | www.powernetglobal.com
PowerNet Global understands the best way to contribute to its local communities is to offer its employees the opportunity to volunteer their time.
To encourage community involvement, the communications provider gives charitable paid time off, which allows employees to appropriate up to eight hours of their paid time per calendar year to any charity of their choice.
Some organizations that PowerNet employees support include The Leukemia & Lymphoma Society, the City Gospel mission, The Healing Center and Transformation Cincinnati & Northern Kentucky.
In addition, the company takes care of its own. PowerNet organized donations and support for an employee whose teenage daughter was diagnosed with ovarian cancer. Employees raised money to purchase an iPad so she could remain connected to family and friends and be entertained while at the hospital.
The company also took a picture of employees holding big letters that spelled, “Get well soon, Julia!” and sent it to the family.
PowerNet also has the PowerNet Global Social Committee, which prepares a variety of events throughout the year to provide employees with opportunities for fun and fellowship. It hosts fundraisers to help support local charities and offers opportunities for employees to partake in company fellowship.
For example, it has hosted yard sales with proceeds going to the Susan G. Komen Foundation for Breast Cancer, a “Biggest Loser” event with half of the proceeds going to benefit the Fairfield Food Pantry and a school supply drive for local students.