Page 25 - ARUBA TODAY

BUSINESS Thursday 25 July 2019
A25

When employees need personal help, business owners respond

By JOYCE M. ROSENBERG on life support. The rest of
Associated Press the staff has also pitched
NEW YORK (AP) — When in, for example, with dona-
David Winters’ staffers ask tions of frequent flyer points
for financial help, advice or But Babcock and Knibbe
to borrow a company car, have learned some staff-
the answer is yes. ers might try to take ad-
“We have single working vantage of them. They’ve
mothers, single working fa- had new employees who
thers, folks with four and “seemed to develop an ex-
five children,” says Winters, pectation that the compa-
owner of a Screenmo- ny was there to solve and
bile franchise in Charlotte, prevent any and all per-
North Carolina. “If you sonal financial challenges,”
don’t support the team, Babcock says.
what’s the point?” She and Knibbe have
Winters has helped his 20 learned not to offer ex-
staffers pay for car repairs traordinary help until they
and veterinary bills and as- become familiar with a
sisted them in filing income staffer. But, Babcock says,
tax returns or getting child “I would rather get burned
support. He gives interest- Ethan Babcock, left, and Baylee Parra, right, pass the time as each waits for a parent to finish in a 10 times than miss the one
free loans — which he of- meeting at Foresite Commercial Real Estate, Tuesday, July 23, 2019, in San Antonio. time that might have been
ten forgives. Associated Press legitimate that impacts
For many small business door screens, out of kind- motely, knows the struc- employees who become someone’s life.”
owners, being a boss ness but he’s also aware ture of her company can aware of those gifts,” Gibbs Some companies help
means helping staffers his help reduces their stress create feelings of isolation, says. staffers out of a business
when they struggle. Own- and makes it easier for another reason to be re- Bosses also need to be need. Reboot Online, a
ers do it out of compassion them to be cheerful with sponsive to staffers’ needs. sure they’ll get their money digital marketing compa-
and concern, and also to customers and provide When they’ve lost relatives, back — some employees ny based north of London,
return the loyalty they get better service. Barber has helped with have gotten loans and helps staffers who emigrate
from employees. Owners Trivinia Barber knew that practical matters. left before repaying them, from countries like Roma-
realize staffers are more one of her staffers with Owners who are empath- Gibbs says. nia, Russia and Slovakia.
productive when they feel young children was worried ic and help employees At Foresite Commercial The company recruits out-
supported and aren’t wor- about driving them in a car can foster a great deal of Real Estate, owners Beth- side Britain because it strug-
rying about personal prob- with worn tires. Barber spent goodwill, but they should any Babcock and Chad gles to find staffers with skills
lems. And helping staffers $300 to buy new ones. think about any prob- Knibbe have been gen- it needs. The newly arrived
can make a small business “That $300 was a drop in lems their assistance might erous with time off when workers need help getting
better able to compete for the bucket for me to give cause, says Rick Gibbs, a staffers are ill, even one settled.
workers in a tight job mar- her peace of mind,” says consultant with human re- who needed major surgery “They often don’t have
ket; large companies with Barber, CEO of Priority VA. sources provider Insperity. right after joining the San the credit rating to rent a
hundreds or thousands of “Her fear was taking away For example, if a boss is Antonio-based company. house, buy a car,” Manag-
employees are more regi- from her performance at very selective about who They’ve helped pay mov- ing Director Naomi Aha-
mented and often won’t work.” gets help with financial ing expenses for a staffer rony says. “So financial
bend the rules when em- Barber, based in Savan- problems. with domestic problems, guarantees and personal
ployees are in need. nah, Georgia, but with five “It may feel good in the and bought a plane tick- references from us as U.K.
Winters helps his staffers, employees and dozens of short term but it could et for an employee who company directors are
who repair window and freelancers who work re- create issues with other wanted to visit a nephew needed.”q

Restructuring Deutsche Bank posts $3.45 billion loss

By DAVID McHUGH valuing deferred tax mat- lators for misconduct. CEO
Associated Press ters, a lowered outlook for Christian Sewing took over
FRANKFURT, Germany (AP) its business plans, and loss- last year with a mandate to
— Deutsche Bank says it lost es on software and service cut costs and improve re-
3.1 billion euros ($3.45 bil- contracts. turns to shareholders.
lion) in the second quarter The net loss turned out to The bank has announced
as it booked heavy charg- be bigger than the 2.8 bil- plans to reduce the size of
es for its sweeping restruc- lion euros expected in a its investment banking busi-
turing that will lead to the profit warning issued July 7. ness as it pulls back from a
loss of 18,000 jobs by 2022. The bank’s battered shares decades-long attempt to
The German bank said were down 3.9% at 6.86 compete with Wall Street ri- In this Monday, July, 8, 2019 file photo, a Deutsche Bank sign is
Wednesday that without euros in morning trading in vals and focuses instead on seen on the outside of their building in London.
the charges it would have Europe. They were trading its German and European Associated Press
made a net profit of 231 above 30 euros per share in business clients. It is closing large majority” of the one- earnings performance and
million euros and that a mid-2015. down its business in sales time charges did not affect that “excluding transfor-
“substantial portion” of the Deutsche Bank has strug- and trading of equities and its capital buffers against mation charges the bank
deductions to earnings for gled with low profits, high focusing on business areas losses. would be profitable and in
the restructuring were now costs, questions about its where it is among the lead- Sewing said that the bank our more stable business-
behind it. business model, and fines ing performers. had already taken “signifi- es revenues were flat or
The charges included re- and settlements with regu- The bank said that “the cant steps” to improve its growing.”q