New Series: Want To Be GovCon Executive Of The Year?
WashingtonExec, in partnership with the Fairfax Chambers of Commerce, is kicking off a new series profiling government contractors nominated for the 9th Annual Greater Washington Government Contracting Awards. Interviewed nominees will include small, mid-size and large “Executive of the Year” as well as “Contractor of the Year” finalists. The winners will be announced on November 1st at the Ritz Carlton in Tysons Corner.
This quick bi-weekly series asks nominees direct questions as to how they achieved success and notoriety in the GovCon community.
The first nominee to kick off the WashingtonExec series is Larry Letow, President and COO of Convergence Technology Consulting. Letow is nominated as “Executive of the Year” in the less than $75 million division.
WashingtonExec: How has the tightening of the lending market impacted you?
Larry Letow: We have been very fortunate. With regard to Convergence, we are 100% self-funded and have not been affected by the lending market. We have also been fortunate that our main client, the federal government, does not require lending. For our commercial clients that need help funding projects, leasing is still an option. We have noticed that the amount of information and time required has significantly increased for leasing.
WashingtonExec: Obtaining top talent in the private sector is fierce. How does your company not only draw top talent, but maintain it?
Larry Letow: The million dollar question. Finding talent is difficult for everyone. It is a 24-hour never ending job. Our ability to hire top talent is based on a few main themes… a) Have them meet as many people as they can before, during, and after interviews; b) communicate our expectations that we have for them and ask them to communicate expectations that they have on us. We realize this is a two-way street; c) outline a personal growth plan, and d) compensation needs to be well rounded with pay, benefits, growth, etc. Maintaining talent is our number one goal. As a company, we try to be respectful, understand that they have a choice to work at CTC and we must continue to earn that, and continually meet their personal growth plans.
WashingtonExec: In your opinion, how does a company stay nimble when it is in a period of large growth and expansion?
Larry Letow: Convergence regularly evaluates our personnel to make sure we have the right individuals in the right positions. Individuals that can get you to “X” level might not be the same one’s that can get you to the “Y” level, naturally. If they are not, then we need to provide them with the proper training. In addition, Convergence regularly evaluates workload. If we can, we will increase individual’s responsibility and authority during these times. If you just increase responsibility without authority, you lose the ability to be nimble and growth will naturally slow down. You need to trust your team.
WashingtonExec: People always talk about corporate culture, but what is something that your company purposely focuses on to create the emulate the ideal company culture?
Larry Letow: Getting to know your co-workers. For those that work in the HQ Building, we use our large conference room as a lunch room allowing up to 25 people to eat together daily. For those that cannot share lunch with us regularly, we offer happy hours, dinners, etc. The better you know your co-workers, the more laughter you hear around the office.
WashingtonExec: As a nominated CEO “executive of the year”, how are you building a strong, stable and innovative company?
Larry Letow:
o Great team members – It’s about them, not me
o Great team work – we are all in this together
o Listen to your customers – they always tell you what they need