It’s no secret that the workforce is changing. That’s why we’ve invited Consumers business experts Shannon Dwyer and Sandy Bloem to discuss current workplace trends and the crucial value of a solid business banking partnership.

 

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0:00:07.0 Lynne Jarman-Johnson (LJJ): Money, I’m Home, welcome and I’m Lynne Jarman-Johnson with Consumers Credit Union. From finance to fitness, we have it all. And for you and your small business, or maybe it’s a medium, big business, you know something, there is some topics we want to really tackle today. And I got the experts for you from Consumers Credit Union. We’ve got Shannon Dwyer, she is our Commercial Loan Officer and then Sandy Bloem, who is our Business Service Sales Manager. Both of you, thank you so much for taking time out of your busy schedules. I know you’re on the ground helping businesses every day. Shannon, thanks so much for being with us.

0:00:41.8 Shannon Dwyer (SD): Hey, glad to be here. Thanks for allowing me to join.

0:00:45.0 LJJ: And Sandy, thank you too. We’re really excited about our topics today.

0:00:49.1 Sandy Blum (SB): Thanks Lynne. I am so excited to talk about small business. It’s I think our passion at Consumers Credit Union.

0:00:54.9 LJJ: Well, I’ll tell you what, I want to really touch base quickly because in November, Shannon, you were on a really special Webex that talked about modernizing the workforce. When I think about that, you know what I think about immediately is like, okay, technology and boosting technology. But I think it was deeper than that. This conversation, which we will be able to link online, really focused not only on the new workforce, right? I mean, what’s going on in the workforce that you’re seeing, Shannon?

0:01:23.7 SD: Yeah, absolutely. And you know, in that we kind of dive into, is it time to expand, invest in real estate, which you may think really in these times when there’s so much remote work, but I think it’s a lot about creating that right accessibility for your company. Sure, there is going to be hybrid work, but I really think it’s like connecting the right people to do effective work. And a lot of times that means you need space for your people. And so, kind of that discussion of, you know, let’s weigh the options of leasing or buying. We’re still seeing a lot of companies invest in real estate. And there’s some great tools to do that, especially for small business. We dive into the 504 program, which is great. We love that program here at Consumers. So yeah, definitely tune in. I think that everyone will have some takeaways.

0:02:12.1 LJJ: Well, thanks, Shannon. You know, Sandy, you just mentioned our passion for small business. And we just heard about a program and tools. You know, we really are setting up businesses for success. Are you seeing that the reluctance of purchase, the reluctance of investing is going away? People are starting to feel, “hey, let’s move forward.”

0:02:31.6 SB: Yes, absolutely. And to piggyback on what Shannon says, I think some of what we’re seeing is businesses investing in technology and equipment because they are having problems finding enough people to work. And so, the way that they’re filling that gap is with investing in equipment. And the people problem I don’t think is going away anytime soon. And so, it’s the equipment and also the real estate, as Shannon mentioned. I believe that the cost of real estate is coming down a little bit. You’ve got sellers who are more willing to negotiate as interest rates go up. So, there’s still a lot of buying and selling going on in our market, for sure.

0:03:11.2 LJJ: You know, Shannon, one of the things I think when people talk about the people issue, there’s a conversation that’s being had that’s focusing on AI, artificial intelligence, and the building of a workforce that is streamlined and efficient. Now some individuals will say, “Oh, that means they’re going to take my job away.” That’s not what AI is at all. Have you found that there’s a real open discussion about that now?

0:03:36.2 SD: Yeah, absolutely. I think even here at Consumers, we see it with our interactive tellers where it’s like we in the office can now be more productive and focused and interact with our members and take away some of those more everyday things that can be more automated across businesses. It’s like, let’s automate what we can so we can work smarter and be more productive at more of the deep work tasks. So yeah, absolutely.

0:04:04.9 LJJ: I love the whole concept of… Do you guys remember? Sandy, to me, it’s like crystal clear. When I walked into the first grocery store that had you go by yourself, it’s a one lane, you bag it yourself, and I was like, “What?” You know, “What?” And yet now that is my choice. I like to get in and get out.

0:04:24.2 SD: Mm-hmm.

0:04:24.9 SB: Oh, 100%. You know, I remember when you would go into the grocery store and they would not only bag your groceries but they would carry them out to your car for you. So, times have certainly changed.

0:04:35.3 LJJ: And you know what, there’s nothing wrong with that personalized service. I think you hit the nail on the head, Shannon, when you say, look at you can still have that and should have that, and especially if you have the time and want it. But you also have so many tools to be able to, for us, as an example, bank how you want when you want. Have you seen that with small businesses, especially with the talent shortage that we’re having? What are businesses doing to try to keep up?

0:05:00.7 SD: Yeah. Well, as Sandy had mentioned, as far as manufacturing companies, what we’re seeing is more investment in equipment. So more automation of just those tedious tasks, which I think the employees like that, because now they’re able to do the more complex pieces of the job and automate, like I said, more of the tedious work. So, we are seeing that automation in manufacturing. But I was talking to someone that said, going back to this whole hybrid work, it’s like sometimes it’s not always fair for people that have to be in-person. So, it was actually a company in the greater Grand Rapids area that’s like, I need to figure out this flexibility for every single employee. How can we create that? So, I can see that being the shift of more like, how can everyone sort of have this flex-work schedule and make it fair for not just the back office corporate employees, but people that have to be on the floor? I feel like the work week, maybe work life is just going to continue shifting. And I think that’s going to have to be top-of-mind for employers and our small businesses to really attract and retain talent.

0:06:11.8 LJJ: Yeah, and you know, top-of-mind for us as consumers, right? I mean, we have to understand that if the hours are different than we expect, because of normal expectations, that might be okay, because that’s what the business needs to do at that time. It’s very interesting.

0:06:26.9 SD: Yep.

0:06:27.3 LJJ: Hey, Sandy, can you kind of just touch base? We’re talking about equipment, we’re talking about investing in technology and people. Tell us what Consumers has for businesses that can really just skyrocket your business.

0:06:40.9 SB: My favorite product that we have, quite honestly, is @Work. And we can go into a business and help their employees, not only guarantee them a checking account if they’ve had problems getting a checking account, but also, we can give them some financial literacy. It allows the business to offer a product and education for their employees that they don’t have to offer themselves. And the beauty of that is you don’t even have to be a member of Consumers Credit Union or a business customer to use that. That’s one of the most exciting things that I love talking about when I’m out in the community is that we are there to help the small business owner in so many ways, just to help their employees, too. And I think they really appreciate that.

0:07:22.1 LJJ: One of my favorite stories is Cherry Health, which is one of our business partners. And listen up, if you want an @Work presentation at your company, do not hesitate to contact us even if you’re not banking with us right now, because it really can make a huge difference in your employee lives, especially because frustration and stress cause productivity loss. So, we’re here to help you with that productivity. Cherry Health, you know what their goal is, which is I think the most amazing component of our partnership? Their goal is to have every employee have the opportunity to purchase a house. So, it’s a bigger goal than, “hey, let’s get you out of debt.” It is a let’s look at your dream and get you where you need to go. And that’s the whole point about business partnerships, right? Creating those dreams and building those dreams. Shannon, Sandy, thank you so much. What a delightful conversation.

0:08:13.7 SD: Yeah, thank you, Lynne.

0:08:15.8 LJJ: Hey, everyone, if you have a topic that you’d like to share, just send it our way. Thank you, Jake Esselink, for your production skills. Again, Consumers @Work, Consumers business partnership, Shannon and Sandy are just two examples of our amazing team that can help you reach your dreams. I’m Lynne Jarman-Johnson with Consumers Credit Union. Hey, Money, I’m Home.

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