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BUSINESS Friday 24 May 2019
A25

Small business cultures need to evolve along with work force

By JOYCE M. ROSENBERG says Tony Fross, who ad-
Associated Press vises clients on workplace
NEW YORK (AP) — Mel- practices for the consulting
oney Perry once worked firm Prophet.
at a traditional big law firm For example, microman-
with a formal, corporate agers need to understand
atmosphere, and knew she they'll get more out of their
wanted a different culture staffers by giving them au-
at her own firm. tonomy, Fross says.
"I learned the 'old school' "People live down to your
way, but it's changed," says expectations rather than
Perry, founder of Perry Law up to them" when they're
in Dallas. "Nowadays, with over-controlled, Fross says.
the employees coming in "You need to give people
younger, you do have to incentives and make it
have more of a family feel." easy from a decision-mak-
That means allowing more ing perspective to do the
casual attire when clients things you want them to
aren't around, and giv- do."
ing staffers laptops so they Culture isn't something
don't have to work long many entrepreneurs think
hours at their desks. of when launching their
"They want to be home. companies, but many real-
They want to be watch- In this Tuesday, May 14, 2019, photo, business owner Meloney Perry, left front, poses for a photo ize as they begin hiring that
ing the playoffs while they with members of her staff, Karla Roush, from left rear, Lisa Amerson, Michelle Smith, Lauren Pickett, it needs to be a priority.
work," Perry says. Samantha Doherty, Stacy Thompson and Brooke Bailey, right front, at her law firm in Dallas. "You think so much about
Small businesses' cultures Associated Press the bottom line and being
are becoming a bigger able to expand and hire
priority as more owners re- their work and personal ters are a part of life, and portunities, which could that you don't always con-
spond to the dramatically lives and open communi- not just for younger people. take many forms: learning sider other factors," says
different expectations of cation. And to have a role Baby boomer staffers are a new technology, get- David Wurst, who says he
a younger work force and in the company's direction just as likely to be check- ting a technical certifica- had no idea about how
a low unemployment rate — employees don't want to ing their phones periodi- tion or getting the nod to to develop a company
and shrinking labor pool just do their work and keep cally during the day as their lead a project or oppor- culture when he launched
that make it harder to quiet. younger colleagues are. tunities to advance, says WebCitz, a website devel-
find staffers. In a survey re- "They want to feel appre- Guy Fardone recognizes Fardone, CEO of Evolve IP, opment company based in
leased last fall by Bank of ciated and be included that younger employees, an information technology Appleton, Wisconsin.q
America, a quarter of the in the firm decisions," Perry those known as millennials, company based in Wayne,
1,067 owners surveyed said says. are in some regards more Pennsylvania.
they were shifting to more They also need an atmo- openly ambitious than Owners who want a good
flexible cultures in hopes sphere that's less rigid than baby boomers or Genera- culture will need to be
of attracting the workers old-style corporate environ- tion Xers, people who are aware of their interactions
they want. Companies are ments. Owners have come now in their 40s and 50s. with staffers — what they
creating environments that to recognize that read- They want to know what do can have a greater im-
recognize staffers' need ing personal email, texting their next move is. pact than what they say.
for growth in their careers, friends and doing online "Many millennials thrive "Your values really emerge
more balance between searches for personal mat- on continuous growth op- from how you behave,"

Deutsche Bank ready for 'tough cuts' as share price sags

By DAVID McHUGH cutting goals. The bank has
Associated Press cut staff to 91,700 employ-
FRANKFURT, Germany (AP) ees, from 99,700 in 2016.
— The CEO of Deutsche But the meeting takes
Bank says he is ready to place amid a heavy flow
make "tough cuts" to im- of bad news for the bank.
prove the struggling bank's Shares traded at record
profitability and raise a "dis- lows Thursday, U.S. congres-
appointing" share price as sional committees have
negative headlines con- subpoenaed the bank re-
tinue to plague Germany's cords of President Donald
biggest bank. Trump, and on Wednes-
Christian Sewing made the day the firm admitted it
remarks Thursday in front of had used faulty software to
restive shareholders at the screen customer transac-
bank's annual meeting in tion for money laundering.
Frankfurt, Germany. The bank has struggled for
He touted the bank's full- years with high costs, low
year profit from 2018 — profitability and heavy fines CEO of Deutsche Bank Christian Sewing speaks during the an-
the first since 2014 — and and settlements for regula- nual shareholders meeting in Frankfurt, Germany, Thursday,
achievement of its cost- tory and legal breaches.q May 23, 2019.
Associated Press