Liza Borches is the President and CEO at Carter Myers Automotive. From the Spanish Flu of 1918 to the ever-evolving industry of today, Carter Myers Automotive has stood the test of time for 98 years. As the 3rd generation President and CEO of CMA, Liza Borches has inherited the stories and experiences of the company. She has fearlessly steered the organization through growth and cultural transformation.
- The importance of employee culture and how dealers can adapt to changing circumstances while still prioritizing their employees’ well-being and growth.
- How CMA is addressing the potential shift in the industry.
- The importance of developing people beyond just improving business results and the need for better time management and scheduling flexibility.
- The importance of determining what problems need to be solved before investing in new technology and making life easier, more seamless, and more efficient for associates.
- The challenges of managing multiple systems that don’t integrate and the importance of relationships with OEM partners.
In this episode Liza talks about the importance of employee culture. We also discussed a survey that revealed the lowest turnover rate for salespeople and the possibility that it could increase if dealers don’t take proactive measures. Liza shares some of the ways her organization is addressing this potential shift in the industry, including mentoring programs for financial wellness and learning from the positive customer experience that resulted from taking the tension out of the price negotiation process. They also talk about the importance of developing people beyond just improving business results and the need for better time management and scheduling flexibility.
Learning From Experiences
Liza shares the importance of learning from experiences and how to implement those lessons throughout an organization by having the right people in place, specifically general managers and service directors, to ensure that systems and processes are working effectively. Liza suggests that the best way to make sure that everyone is on the same page is by bringing team members from different markets together to work on new acquisitions. This approach creates bonds between existing and new managers and fosters cross-market relationships.
Importance of Innovation In The Industry
The conversation then moves on to technology and the importance of innovation in the industry. Liza stresses the importance of determining what problems need to be solved before investing in new technology. She also suggests that technology needs to be making life easier, more seamless, and more efficient for associates, as this can lead to lower turnover and flexible schedules. Finally, the author talks about the challenges of managing multiple systems that don’t integrate, which can create problems with utilization and ROI.
Liza also shares her thoughts on dealership culture and the importance of relationships with OEM partners. She emphasizes that having a strong culture is possible even with varying relationships with different franchises. However, negativity towards OEM partners can have a negative impact on associates and their confidence in the brand. Borches also discusses the importance of protecting the franchise system and the impact dealerships have on the local economy and community. The conversation ends with a reminder to be cautious of the potential consequences of losing the soul of the industry.
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