by Audrey Anderson
Hometown Weekly Reporter
Recently, The Neponset River Regional Chamber of Commerce (NRRC) met at Little Bird Events at the Norwood Space Center for a Chamber Talks event to discuss current business trends.The speakers were prominent local business executives Tracy Burns, Executive Director, Northeast HR Association, Stephen Clark, President, Massachusetts Restaurant Association, Adam Romaow, Owner of Castle Island Brewing and Chair of the Massachusetts Brewers Association, Habib Madahi, Owner of Morva Stone, and Sue Kelly, General Manager, Legacy Place. Moderator Rob Ferrini led the talks by posing questions to panel members.
The first topic was the latest in AI for business. Madahi led by telling about how Morva Stone uses AI for a number of business tasks. The company uses Chat GPT to summarize multiple reports into one complete report. Staff Chatbot interacts with information in their database, such as prices, colors, and patterns. What's App is used to retrieve project photos to show to customers. A customer service chat bot provides company information, such as days and hours they are open. Morva Stone also uses AI to produce delivery confirmation lists for their drivers, Image Generator Midjourney to create images, and Dall E-3 to create posters, logos, and a mobile app interface. Madahi observed that "AI is bigger than we think; more than the Internet. Big changes are coming."
Kelly said that stores at Legacy Place are now using AI to assist with customer capture. Burns said that AI is being used in hiring and onboarding. She expressed a concern with the speed of technology development, and how quickly employees will be able to learn to work with AI. She wondered whether it would take away jobs. According to Burns, "The future is here, not down the road." Job descriptions will have to be reviewed. Which tasks can be automated? Which ones have to be done by an employee?
The panel then discussed changes in the workplace since COVID. Burns explained that different managerial skills are now needed. "We sent everyone home. Now we want them back. What do we do?" How has working with remote employees changed the culture of companies? Clark said that COVID-19 had a huge impact on the restaurant and hospitality business. Take-out and outdoor dining remain major parts of their businesses. Kitchen layouts have had to be changed to accommodate the new services restaurants are providing. Restaurants have learned that they don't have to be open all the time. Many are closing during nonprofitable hours.
Hiring continues to be a concern for all businesses. Kelly observed that people who used to work, no longer want to. It is "hard to attract and retain talent. People are asking for too much money." Romanow said that post COVID-19, finding people to hire, and the higher wages they were requesting, created problems. It has been hard to find qualified people willing to put in the effort needed to get results. Hiring for hospitality, sales and marketing has been difficult, but it has been a little easier to hire people for manufacturing. Romanow noted that wage pressures seem to be easing a bit now. Castle Island Brewing is now offering more PTO and working with more employees to learn the financial side of the business. His company has learned to "accommodate people as they are." For instance, they "can't ban cell phones at work: nobody will work there." They have to capture their attention by involving them more in the business.
Burns added that trust between employees and managers is important. The employee is in control. "Employers have to make concessions." Also, the participation rates in the new Massachusetts Family Leave program have been rising. "Many employees are caregivers." Employees have to find ways to get the work done when employees take leave. Clark noted that recently more people are looking for second jobs due to inflation and the resumption of student loan payments.
The panel agreed that the last quarter has been flat. Clark said that "federal dollars and consumer dollars are down and profits are down." Romanov said that both retail and wholesale profits are down. Companies have to "get better to survive."
According to Kelley, even in light of all the challenges, there are some good signs for retail. People do want to get out of their homes and spend time with other people. The experience of spending more time at Legacy Place has been important, Management has added experiences to the development, such as lawn games and outside dining. A new coworking space and bookstore have been popular, and two restaurants are already fully booked for holiday parties.
The Neponset River Chamber of Commerce put together an informative panel to keep its members informed of changes in the business environment. The reflections of the panelists will guide business owners through the rest of 2023 and help them position their operations for 2024.
