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Emerging Talent Advisory Council – 2022 Year in Review

The equipment leasing and finance industry is often described as the “one-trillion-dollar industry that no one has ever heard of,” and that’s because, for most members, finding a job in our industry was more of a coincidence than a plan. I’m a good example of that. While I was earning an undergraduate degree in finance and an MBA, equipment financing was never mentioned as a career option. If not for a chance personal connection I made near graduation, my career would have taken a different turn. Many industry members – perhaps you – have  a similar story. This is a unique situation considering the magnitude of annual economic output of the equipment leasing and finance industry.

Many people in our industry are retiring, and over the past decade, not enough young people are coming into the industry to address both the retirements and the annual growth.

The Emerging Talent Advisory Council (ETAC) was formed in 2015 to help the Equipment Leasing and Finance Association (ELFA) and the industry solve a specific problem: more senior leaders were retiring than young people – emerging talent – were entering the industry.

ETAC’s mission is to:

  • Enable the advancement and development of emerging talent
  • Encourage emerging talent to become involved within the industry and association early on in their careers
  • Drive diversity, equity and inclusion in the industry

In 2022, ETAC continued to fulfill its mission by accomplishing multiple initiatives, such as organizing and facilitating Emergence2022, hosting a variety of in-person and virtual networking events, and generating a robust library of career development content available to everyone in the People Power section of ELFA’s website.

Emergence2022

Emergence is a hands-on leadership program designed specifically for emerging talent in the equipment finance industry. The sold-out Emergence2022 empowered attendees with the necessary skills to excel as next-generation equipment finance leaders through participating in sessions such as the “Ask a Leader Panel” and “Difficult Discussions – Where’s the Playbook?” During Emergence2022, attendees expanded their peer and executive networks, collaborated in working groups to role-play through real-world scenarios, and gained a deeper understanding of how to manage and achieve their career objectives more effectively.

Emergence2022

ETAC works closely with the Women’s Council and the Equity Committee to promote Diversity, Equity and Inclusion (DEI) throughout the industry and at each ETAC event. Our events, including Emergence2022, highlight speakers and leaders from diverse backgrounds who can relate to and encourage participation from attendees with similar backgrounds. Emphasizing inclusivity – for both speakers and attendees – resulted in Emergence2022 being a categorical success.

In-Person and Digital Networking Events

Networking is a primary benefit of attending an industry conference; unfortunately, sending emerging talent to industry conferences is often “not in the budget” for many organizations.

To address that situation, in 2022 ETAC hosted free in-person networking events in conjunction with several ELFA conferences and multiple digital networking events and organized the first People Power Reception with the Women’s Council and the Equity Committee.

All of these events enabled emerging talent to grow their network, interact and learn from the industry’s best executives. Most importantly, these events drove a notable increase in emerging talent seeking opportunities to volunteer with the ELFA and other industry organizations.

ELFA People Power

Career Development Content

What I admire most about this industry is the people. The willingness of members to share their knowledge, experience and expertise with the next generation, despite working at competing organizations, is incredible. Capturing this body of knowledge is the fundamental component of developing a rich career-management content library.

ETAC publications in 2022 included the “Ask a Leader” series, where industry leaders – from all backgrounds and career paths – shared their stories and advice for the next generation. ETAC’s most-viewed article in 2022 was “Emerging Mothers: A Unique Perspective for the Equipment Leasing & Finance Industry,” which discussed how mothers with young children are more likely to consider leaving the workforce.

2022 proved to be a resounding success for ETAC. We successfully transitioned back to in-person events, generated record content – all free and posted on the ELFA’s website – and inspired many next-generation ELFA members to become involved within the industry. While I’m incredibly proud of our accomplishments, the work isn’t done. Each year builds off the previous, and I look forward to what ETAC accomplishes in the years ahead!

Martin Klotzman, Ivory Consulting Corporation’s Senior Manager, Marketing and Product Management, is a founding member of ETAC and the 2022 Chair of the ETAC.
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