CEOs were asked: Economic winds seem to be shifting. Are you scaling back at all in your organization?
CEOs were asked: Economic winds seem to be shifting. Are you scaling back at all in your organization?
We’re fortunate that we are not seeing our business impacted yet. At the end of our fiscal year, our revenue was higher than in 2018, and we are striving for continued growth in the coming year. However, to be prepared and to help our clients achieve their goals, we’re using this time to get ready for an eventual downturn, investing in learning and development as well as other business needs to be at the top of our game.
Tony Argiz, chairman, CEO, Morrison, Brown, Argiz & Farra, LLC (MBAF)
We have no plans on scaling back, just the opposite. We are committed to bringing quality food products to market and the growing need for clean eating and transparent packaging only fuel our goals.
Jennifer Cramer, CEO, co-founder, The Spice Lab
We monitor economic conditions and continually work to make sure our team structure is optimized for client needs and market demands through all types of economic cycles. At the moment, we’re continuing our strategic hiring efforts with a focus on building a team to best serve our clients. The economic winds are ever-changing, but as a global provider of a wide variety of engineering and design services, we’re ideally diversified to manage potential shifts in the market.
Adriana Jaegerman, senior principal, managing leader, Stantec
As an investment immigration law firm, global economic instability feeds demand for our services as people seek to immigrate to perceived safe havens. Accordingly, we are not scaling back our small Miami home office; in fact, our offices in Asia will likely be adding staff early next year if the market anxieties continue.
José E. Latour, founding partner, LatourLaw
We are not scaling back. What we are doing is trying to identify more value-added membership benefits. Also, we are developing strategies to improve customer service to keep our constituents happy. The goal is to retain and grow our membership base. Lastly, we are exploring partnering opportunities with for profits and other nonprofits and fee for service initiatives.
Beatrice Louissaint, president, CEO, Florida State Minority Supplier Development Council
Not scaling back. As a matter fact, we are in full growth mode; however, we are always budget-conscious, making sure we are being smart in how we are spending our dollars.
Melissa Medina, president, eMerge
We have to be prudent in adding to the permanent headcount of faculty and staff. We are fortunate that many Miami Business School alumni are pleased to serve as part-time adjunct faculty or volunteer mentors for our students. Against the national trend for business schools, demand for our graduate degree programs has increased by double digits both this year and last. However, we cannot be complacent. While a downturn can increase demand for full-time programs (because students see fewer promotion prospects at work so take a time out to study), it can also decrease demand for part-time programs (that employers become less willing or able to subsidize).
John Quelch, vice provost, University of Miami Dean, Miami Business School and Leonard M. Miller University Professor
Quite the contrary. We continue to grow our Miami-based team as well as other locations around the world. The education sector has historically been a counter-cyclical, and we think that the underlying trends of the digital transformation of most industries will continue to demand tech professionals.
Ariel Quiñones, co-founder, Ironhack
At Office Edge, we are sensitive to what our clients are experiencing. To help them manage expenses, many of our administrative and legal support services are available on a per-minute pricing model that enables cost savings without affecting our high standard of service. We’ve managed many businesses, large and small, over the past few decades and as a result we do a lot of efficiency consulting for our clients. As for our own business, our model is sustainable and we are actually hiring several additional team members.
Kelly Ramsden, managing partner, Office Edge and Legal Edge
I believe in a proactive approach — budgeting accordingly and building community partnerships to ensure a steady stream of support in the event of a downturn. MOCA North Miami, thankfully, has not experienced any signs of a weakening economy.
Museums have four revenue sources that might be impacted by a recession: Visitation, fundraising, gift shop sales, and venue rental. Our museum is accessible for patrons of all means — admission is affordable and many programs are free — and so we would not expect a significant decrease in visitation in a recession. Indeed, there is anecdotal evidence of an increase in cultural participation during recessions. The arts are often seen as an escape from the stress and problems of daily life.
When an economic downturn is anticipated, it is a good time to look at the mission of the institution. To concentrate on the fundamental and essential aspects of the museum — exhibiting, collecting, conserving and interpreting art — keeping an emphasis on the collection and exhibitions. We look at activities at the institution and ask: What is indispensable? To who? And at what cost?
Chana Sheldon, executive director, MOCA
THE MIAMI HERALD CEO ROUNDTABLE IS A WEEKLY FEATURE THAT APPEARS IN BUSINESS MONDAY OF THE MIAMI HERALD. Meet the current members of the roundtable.
RECENT QUESTIONS TO THE ROUNDTABLE HAVE INCLUDED:
▪ Sharing office space? It’s a good idea for some
▪ Jobs available, but finding qualified candidates is a hurdle for some
▪ Recession? CEOs say that so far, it’s a no-show in South Florida
▪ Traveler’s checkup: CEOs discuss pros and cons of liberal vacation policies
▪ Too cold? Too hot? Let’s talk workplace temperatures
▪ CEOS: Working remotely is often a great alternative
▪ If the economy falters, local companies are prepared
▪ CEOs consider whether Miami is the ideal spot for a soccer team and stadium
▪ CEOs are planning for climate change and sea-level rise
▪ Efforts to boost low wages may ease affordability crisis
▪ Local and state governments must do more to address affordable housing
▪ Find your passion and own your career path, CEOS tell job seekers
▪ Here’s how CEOs would advise a high school senior class on its last day
▪ South Florida CEOs offer suggestion to address America’s student loan debt
▪ Supervisors often were the greatest influence on CEOs’ careers
▪ CEOs address Miami’s racial wealth gap
▪ CEOs discuss transforming healthcare in America
▪ Is the job market as good as it gets?
▪ CEOs split on encouraging marijuana sales in Florida
▪ Unlocking state funds for affordable housing is the right move, CEOS said
▪ CEOs try to lasso healthcare costs, but more needs to be done
▪ CEOs agree that tax breaks are needed to lure businesses to Florida
▪ Technology led to significant changes in 2018 for most CEOs
▪ What are CEOs doing to attract and retain workers?
▪ Most CEOs say salaries will increase in 2019
▪ Most CEOs are in ‘growth mode’ with plans to hire more
▪ CEOs’ 2019 economic forecast offers differing views
▪ How CEOs are trying to attract ‘Generation Z’
▪ Most CEOs say PortMiami should expand more, without hurting the fragile eco-system
▪ Should financial institutions reach more ‘unbanked’ people?
▪ Tech scene throughout South Florida is building momentum
▪ CEOs discuss their top workforce challenges for 2019
▪ The best gift? Even for the most successful people, life is about more than business
▪ Recession ahead? CEOs divided on whether they see signs of one
▪ CEOs: Amazon’s strong look at Miami for HQ2 made the region look hard at itself
▪ Biggest influence on CEOs’ careers? Most say it was a parent
▪ Jobs available? CEOs look at their companies
▪ CEOs keep an eye on Miami’s cost of living
▪ The key to retaining employees? Start with good pay and benefits
▪ Live-work-play? More employees opt to live closer to workplaces
▪ Some CEOs say they’ve raised wages this year
▪ Here are some issues CEOs hope lawmakers keep top-of-mind this election year
▪ CEOs offer varying opinions on higher education
▪ Local firms are doing their part to be more eco-friendly
▪ CEOs are all smiles thanks to local economic boom
▪ Is work-life balance a myth? CEOs share their thoughts
▪ CEOs help employees stsruggling with long commutes
▪ Despite airline woes, CEOs are not changing traveling habits
▪ CEOs have diverse opinions on Trump’s tariffs and other actions
▪ CEOs feel pressure to keep wages competitive
▪ South Florida CEOs say that Miami can sustain David Beckham’s soccer team
▪ CEOs hope common-sense control on assault rifles happens soon
▪ Will Amazon open HQ2 in Miami? Maybe, maybe not, but city’s profile rises, CEOs say
▪ We have much to learn about public transit from other cities, CEOs say
▪ CEOs: Cuban coffee, flexibility and beach picnics help employees balance job demands
▪ CEOs discuss how to deal with extreme views in the workplace
▪ Extra guards, added security measures protect staff and clients
▪ As automation advances, CEOs say humans are still needed
▪ Holiday parties celebrate employees and the year’s successes
▪ These CEOs have zero tolerance for sexual harassment
▪ Will automation change your job? Yes — and no, CEOs say
▪ How CEOs address hostility in the workplace
▪ Good storm planning can stave off disruptions, CEOs find
▪ Storms highlighted serious local issues, CEOs say
▪ Planning, preparation are keys to disaster recovery, CEOs say
▪ CEOs say students who improve certain skills are better prepared for future jobs
▪ Uncertainty about the Affordable Care Act on the minds of CEOs
▪ In a year of challenges, CEOs took risks, learned and grew
▪ CEOs believe community should be involved in making public schools better
▪ Best bosses we ever had inspired, challenged and cared, say South Florida CEOs
▪ South Florida CEOs try to evaluate the nation’s top CEO: President Trump
▪ CEOs’ advice to college students: Network! Internships! Research!
▪ Affordable housing a cause of concern for CEOs
▪ Communication, cool heads key to avoiding public relations nightmares
▪ Meet the new Miami Herald CEO Roundtable
▪ Ahh, the first job. CEOs learned valuable lessons on the bottom rung
▪ It’s getting harder for employees and CEOs to disconnect while on vacation
▪ Florida’s legislators must act on economy and education, CEOs say
▪ Most CEOs provide paid internships, and everyone benefits
▪ Local firms rich in generational immigrants, CEO say, but deportation efforts worry some
▪ Long hours at the office? CEOs say how they avoid burnout
▪ CEOs prefer balance when dealing with a defiant employee
▪ The most important issue facing South Florida this year? CEOs say it’s traffic
▪ Have you been to Cuba? CEOs discuss business and travel opportunities on the island
▪ CEOs discuss their resolutions for the New Year
▪ CEOs: Trump, ugly politics among the biggest surprises of 2016
▪ CEOs’ top request for Trump’s first 100 days: ‘Unity’
▪ CEOs won’t tolerate ugly comments in the workplace
▪ CEOs assess South Florida’s economy for 2017
▪ Did Obamacare hurt your business? South Florida CEOs respond