Business View Magazine - January 2024

PREFERRED VENDOR/PARTNER n Thomas & Company www.thomas-and-company.com Anchored by subject matter experts, Thomas & Company is focused on helping employers save money and increase efficiency within the unemployment cost management, wage verification, tax credits and incentives, and employment tax industries. Driven by a customer-centered approach, we provide personalized solutions, leveraging our expertise and cutting-edge technology. according to Stemm, is 501(c) Service’s biggest partner, as it plays a frontline role in processing the unemployment claims coming from the states. “They have a very similar approach to us,” Stemm begins, “They’re a small firm and are all about people…and it comes through in the attitude of their employees and the way they care for our customers.” Additionally, 501(c) Services has made sure to remain in consistent contact with the National Center for Employee Ownership (NCEO), as the organization acts as an incredible source of support. “They do great work helping those of us who are ESOPs… they provide great resources and [host] conferences where we can meet our peers.The NCEO has just been one of those places we’ve gotten really good information from,” Stemm says. And with the types of companies that 501(c) Services serves, having a strong network to leverage is incredibly important. Companies like The YMCA of USA, Boys and Girls Clubs of America, The Boy Scouts of America, and Habitat for Humanity all rely on 501(c) Services to facilitate their unemployment services. In fact, the companies above were among the names that relied on 501(c) Services the most during the COVID-19 pandemic, as the impact had forced many of those companies to lay off a large number of employees. As a company deeply involved in unemployment services, the resulting surge in claims presented both an operational challenge and a poignant reminder of the human impact of the crisis. “In the spring of 2020, our claims rose 20 times what they had been the month before,” Stemm explains. However, the 501(c) team rose to the occasion, processing claims diligently while witnessing the profound effects of the pandemic on the nonprofit sector. FUTURE OUTLOOK AND COMMITMENT TO MISSION-DRIVEN SERVICE Looking ahead, 501(c) Services envisions steady growth, leveraging its strengths and expertise to continue serving the nonprofit community. The focus remains on providing unparalleled service to clients while fostering a workplace that remains a great environment for its employees. Success is defined not just in financial terms but in maintaining a reputation for excellence, both as a mission-driven service provider and as an exemplary employer. “I’d say we would define success looking forward as having the same reputation 40 years from now,” Stemm says. In summary, 501(c) Services epitomizes a harmonious blend of service, employee empowerment, and strategic business acumen. The ESOP model, with its transformative impact on culture, retention, and financial success, stands as a testament to the company’s commitment to a future where every employee-owner contributes to and shares in the prosperity of the organization. According to Stemm, the model has been a “really powerful vehicle” and nothing but a “blessing” to 501(c) Services. Considering the company’s healthy development, it’s clear that it’s in the right space with all of the resources and partnerships it needs to help maintain its image as an industry staple. 132 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 01