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Walking around the factory floor of Twincraft Skincare, outside Burlington, Vermont, there is the unmistakable scent of soap. The general manager points out the luxury lines and designer labels for whom they manufacture soaps and lotions, as well as the basic, inexpensive bars and bottles left on hotel room sinks. The factory runs two 10-hour shifts per day, four days a week, with an overtime option as needed. At over 400 employees, Twincraft is one of the top employers in the state. In the last few years, theres been a boom in skincare products and, to meet demand, Michele Asch, Twincrafts chief people officer, says theyve had to hire over 180 people over the past 18 months. But, pre-pandemic, Asch had begun to notice a problem in hiring workers: People couldnt find local childcare. One standout employee, she recalls, spent an hour driving each morning to drop her kids off in two different towns before driving to workthough she lived only 15 minutes away. In 2020, Asch met with Aly Richards, the director of Lets Grow Kids, the organization responsible for spearheading the decade-long campaign to provide a comprehensive fix for the states childcare shortage. Via Zoom, Asch recalls asking, Aly, we make skincare. Cant I just pay into a system so we can get this childcare fixed? But fixed isnt so simple for childcare. Childcare is an industry in crisis, where the demand is high, the supply is low, and market forces alone cannot correct it. The high teacher-to-student ratios required for childcare mean that parents pay high costsoften more than they can reasonably affordwhile providers are compensated little. Many providers rely on public benefits or are unable to afford sending their own children to the childcare locations in which they work. Like Aschs employee who had to drive an hour to find care, half of the country is living in childcare deserts, where no workable care options exist. Vermont is in a deep demographic crisis now, says Richards. With a dwindling and aging population, Vermont was losing potential workers and the tax base that accompanies it. Many women with education and careers would work if they had access to affordable childcare. And if businesses, like Twincraft, wanted to stay, grow, and manufacture products in the state, they needed to find a way to retain young employees and bring new ones in. Richards appointed Asch to the board of Lets Grow Kids and to the CEO Task Force, a group assigned to devise a funding plan for childcare that business leaders in the state could get behind, facilitated by a former state tax commissioner. Initially, the task force was adamantly against a payroll tax to finance childcare. But after exploring every funding optionincluding an income tax and property taxthe payroll tax emerged as the solution that checked every box, according to Asch. A payroll tax allowed the payment burden of the childcare program to be placed on workers, not retirees. As more people took advantage of the program and went to work, the revenue stream would grow. Asch began speaking one-on-one with business leaders on the need to invest in childcare. She personally invited other manufacturing leaders in the state to meet with Richards, vet the proposal, and ask any and all pointed questions. The Twincraft conference room was filled with business leaders of Vermonts most recognizable brands: Bag Balm, Runamok Maple, Birrn Chocolates, Vermont Creamery, Lake Champlain Chocolates, Burton’s Snowboard, and Mamava. Those peer-to-peer conversations were critically important, explains Richards, because you have a trusted business partner running a successful business. They can literally say, Ive studied this deeply with my values and my prowess and Im here to tell you, [this] is the deal with childcare in summary form. ‘Childcare is necessary infrastructure for doing business’ Childcare has long been a social policy issue without a designated home. It is part education, part parenting, part economicsas obstacles to childcare remain one of the top reasons that parents cannot access paid work. Even in message testing surrounding childcare, arguments about the economic and workforce benefits are considered the most persuasive. Data from Lets Grow Kids and the University of Vermont estimated that with the additional childcare funds in the state, 5,000 additional parents could participate in Vermonts workforce, and by parents paying less for care and receiving more income as wage-earners, and providers receiving more, there would be a $375 million annual boost to the states economy due to such influx. Aschs biggest challenge wasnt that her business colleagues disagreed with the need for childcare, but that they didnt fully understand why this state-organized effort funded by the payroll tax was the proposed solution. Once they understood [the childcare plan] they would enthusiastically or reluctantly support it, she said. I dont pay individually to have our roads done. I pay into a system to have the trucks come in to pick up the soap. [Childcare] is necessary infrastructure for doing business. In January of 2023, Vermonts business leaders testified in support of the childcare legislation, now named Act 76, in front of the states Senate Economic Development Committee, both for the need for childcare to support their employees and hire more, and to show their willingness to shoulder the payroll tax that accompanied it. Cara Tobin, a chef and mother of two whod opened the restaurant Honey Road in Burlington and become a James Beard finalist, testified that it was easier to open a restaurant than find childcare. Tobin was one of 10 business leaders who testified in support of Act 76, including a cross-section of business interests of the state: a solar company, an entrepreneur, a ski resort, and, of course, manufacturers. In June 2023, the legislation passed with bipartisan support, and after a veto from the governor, passed with a bipartisan veto override. The payroll tax took effect in July 2024: 0.44% split between employees (0.11%) and employers (0.33%). Some employers, Twincraft among them, have opted to cover the entire tax for their workers. In January 2024, childcare providers began seeing a change in compensation, and since the legislation has taken effect, childcare supply has boomed in the state: 90 new childcare programs have opened, with a net gain of 1,000 new childcare spots. For the first time since 2018, more childcare programs have opened in the state than closed. Asch has noticed that more of her employees can find chidcare closer to where they work, and have more affordable options and therefore less stress, she said. Shes exploring opening a childcare center adjacent to Twincraft. Tobins youngest child went to kindergarten when Act 76 took effect; she hasnt been able to personally take advantage of the program, but her restaurant employees have. I see it working for other people for sure, Tobin said. This completes the circle: You are supporting your workers who can make money, then spend money in the community, and it keeps coming back around. When we support the community, they support us.
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E-Commerce
Ikea’s new collection is all about accessibility. The furniture maker’s new Bäsingen collection, which is available this month, includes six items for the bathroom that the company designed to be easy to use for people with disabilities: a shower chair, two kids of stools with rails, a towel rail, a shower shelf, and a toilet roll holder. The products range from about $12 to about $39. The collection was designed to be sturdy and non-slippery, with tube handles on the stools and that are thick for an easy grip. The dark color for the products in the collections was also chosen so the items would be easily visible, but stylish enough so to be something you’d want to keep out in view, Ikea says. Sarah Fager, Ikea’s senior designer, said she started working on the Bäsingen collection “by wanting to learn more about the needs and wishes of people with physical limitations.” She said it was one of her most challenging design projects “because it was about meeting needs that were new to me,” but it was also one of her most enlightening. “The products were created to bring great functionality together with a beautiful design, as they have a minimalistic expression that is rooted in our Scandinavian design tradition,” she said. “Bäsingen is designed to help customers create a comfortable experience.” At least 61 million U.S. adults have at least one disability, Centers for Disease Control and Prevention (CDC) data shows. Some may have more requirements than the average user for household products, like stools with handles they can hold onto for stability for safety in the bathroom or shower. Global sales of assistive furniture reached an estimated $4.93 billion in 2024, according to data from Fact.MR, a market research firm. And Ikea isn’t the only furniture maker that’s designing for accessibility. Last year, Pottery Barn added optional, accessible features to three of its most popular furniture lines. Ikea released Omtänksam, a collection of ergonomic products for comfort and support in 2020. There are many people who experience impactful and common circumstantial changes that can make something as simple as taking a shower challenging, Ikea product design developer Watts Zijlstra said in a statement. Yet, we see that the home environment is often not equipped for change. The starting point for Bäsingen was a clear need for specific product functions.
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E-Commerce
In HBOs hit show Succession, patriarch Logan Roy pitted his children against each other for the top spot of leading his media conglomerate. Those whove seen the show will know how it ends, but what if he took a different route? What if he established a collaborative, multi-generational leadership team to guide Waystar RoyCo into the future? Granted, it would have made for far less dramatic tension (and probably fewer award wins) for the show. But for Roys shareholders, it wouldve been a smarter move in a rapidly changing media industry. Succession planning is a non-negotiable principle for any thriving organization, yet its also one of the hardest to get right. And in todays volatile, fast-changing environment, proactive planning is even more critical. There are relentless technological disruptions, and diversity initiatives are under scrutiny. For the first time in history, five generations will work side-by-side in offices around the world. These dynamics present unique challenges for maintaining growth and stability. For CEOs, whose average age is 59, the following questions are critical: Are they equipped to engage Gen Z employees and the subsequent generation? Are they prepared to lead in an AI-driven world? Without support, the honest answer is often no. Last year, the Financial Times reported that a record number of CEOs stepped down due to investor pressures, technological disruptions, and underperforming markets. All of these factors are making the role harder than ever. After years of thought, I recently decided to appoint a new CEO for our U.K. and European business. It was a bold move as we skipped a few generations. But he was ready to take the reins after a lot of training, learning, and success. So far, its working. In a very short period, our business already feels more energized, agile, innovative, and resilient. Heres how you can create the same momentum for your business. Build an open culture of multi-generational learning By the time Generation Alpha enters the workforce, five generations will be working together in a single workplace. Rather than seeing this as a challenge, treat it as an opportunity. Harnessing multi-generational perspectives fosters creativity, improves decision-making, and strengthens collaboration across teams. To align generational differences, encourage multi-generational open learning. For example, you could introduce mentoring schemes that encourage a two-way flow of ideas and perspectives between senior and junior staff, rather than solely top-down programs. Balancing continuity with the pursuit of innovation is the leadership challenge of our times. A multi-CEO model with age diversity might just be the way to navigate it. A diverse suite of leaders can help bridge the gaps between generations because it creates a synergy that benefits employees, clients, and organizational growth. Identify and support the right successors from each generation Finding qualified leaders has always been a challenge, and todays hyper-disruptive business environment has only made it more difficult. From tech to media, industries undergoing transformation need leaders who can navigate complexity and disruption, even though it may be the first time theyve done it. You might be wondering whether you should promote internally or hire from the outside. My view is clear, and its that home-grown works best. Ive tried both, and in our type of business, growing a successor over time always seems to work better than bringing in someone from outside. Once youve identified a potential successor, help them rise with a development plan that gets them to the top job. Theyll have plenty of opportunities to succeed and fail along the way. By observing how they handle these moments, you build confidence in your choice. Just be aware that high-performing employees will have their choice of job offers, so you need to figure out how you can incentivize them to stay. Twice, Ive developed successors only to have them leave for competitors. Losing these experts can be costly and immensely frustrating. A multi-generational C-suite acts as a safety net, retaining these individuals while equipping them with the tools and mentorship they need to continue excelling. Act now to prepare for the future The best time to think about your succession strategy is now. Tomorrows leaders need opportunities to observe, contribute, and think collectively about the decisions, products, and services that will define your organization in three to five years. Invite emerging leaders to share their opinions and take on increased responsibility. Encourage them to collaborate across generations. By empowering future leaders today, you foster innovation and resilience for the years ahead. Succession wasnt just the heart of a TV drama; its a real-life leadership challenge. For business owners, Logan Roys missteps offer a cautionary tale. Procrastination and neglecting to nurture a diverse pool of future leaders are risks that no organization can afford. A multi-generational leadership pipeline isnt just an asset; its a necessity in an environment defined by rapid transformation and complexity. Developing new leaders while leveraging the expertise of seasoned executives positions your business to weather disruptions and capitalize on opportunities. Dont wait. Start building a forward-thinking succession strategy today and ensure that your organization is ready for tomorrows challenges. A dynamic, multi-generational C-suite can secure your place as a disruptor, not the disrupted.
Category:
E-Commerce
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