Belonging is more than a feeling – it’s a space we create between us. It’s knowing that we’re welcome at L&P and there’s a place for more than our skills. There’s room for who we are.
As many of our colleagues and communities around the world celebrate and lift up the LGBTQ+ community during Pride Month, we join them by reaffirming that you belong here. We commit to strengthening workplaces that create space for everyone, including members of the LGBTQ+ community.
Supporting The Trevor Project
Pride Month is also a time to advocate for the LGBTQ+ community. At L&P, we made a monetary contribution to The Trevor Project – the world’s largest suicide prevention and crisis intervention organization for LGBTQ+ youth. Because they are often stigmatized in society, LGBTQ+ youth have an increased risk of dying by suicide when compared to their peers.
Learning More During PrideMonth
If you’d like to learn more about LGBTQ+ history, experiences, and supporting LGBTQ+ colleagues, check out the following resources:
Pride by Google Arts & Culture: Learn about Pride marches throughout the years, the Stonewall Uprising, LGBTQ+ artists, and more.
At L&P, safety – both physical and psychological – is a top priority.
We’re committed to creating safe workplaces, and we’re very proud of our teams around the world for putting people first. They prioritize safety, care for one another, and create an inclusive environment of mutual respect, empathy, and belonging.
This month on L&P social, we’re excited to share content and stories related to safety and belonging with you!
Throughout May, we’re sharing tips for promoting wellbeing. This week, we’re spotlighting financial wellbeing with Lance Gooder, Senior Financial Analyst at L&P!
Lance joined L&P 11 years ago as an intern in the Internal Audit Department, working various roles there for four years before transitioning to the Treasury Department. We asked him to share about his role and some tips for staying financially healthy.
What do you do as a Senior Financial Analyst?
Lance
My primary responsibilities revolve around:
cash flow and consolidated financial statement forecasting
analyzing balance sheet currency exposures and developing a mitigation plan for the exposure risk
completing regular reviews of treasury-related company metrics and providing executive/board-level reporting on those metrics
calculating intercompany lending terms/rates
I also provide a supporting role in many back-office treasury functions, such as vendor approvals, payment set-up/approvals, derivative and currency trade settlements, and various bank account admin functions. I help with any ad-hoc projects or initiatives in the department with a specific focus on working capital or financial data analysis.
What do you enjoy most about your role?
With the size of our department, I have the opportunity to work on a variety of treasury-related tasks. In most large corporations, treasury personnel get pigeonholed into one or two related functions. The benefit of working for a company of L&P’s size is that I get to dabble in a little bit of everything – from something as complex as currency derivatives to as simple as approving payments.
While my role provides a general cadence, there’s always unique and challenging experiences. I had a passion for math, finance, and accounting early on, and a little bit of a creative side as well. I’m lucky in that I’ve found a career that calls for the right balance of “science” and “art” for me.
Do you have some favorite financial tips to share with our colleagues?
I can think of a couple:
First, don’t underestimate the power of compounding or time value of money. This can apply both on the savings and debt side. It doesn’t require an astronomical return to generate a large amount of wealth over time. A lot of people are looking for a quick way to double or triple an investment, and the reality is that there are very few of those opportunities out there. Don’t let that discourage you though, because a steady cadence of contributions with just a slightly positive return will morph into a meaningful amount that will surprise you over time. Similarly on the debt side, regular usage of interest earning debt with little payment toward a principal balance can quickly turn into a difficult obstacle to overcome.
The second is one that I think is important for living a full life: think of money as the tool, not the goal. Set objectives for yourself or your business, and then figure out how to come up with capital needed to accomplish it. Whether it’s buying a house, expanding a new product line, paying for an education, or buying a toaster, determine what you want to accomplish and then identify how much you need to get there. If you’re constantly looking to just grow your cash balance, you’ll never have enough, and you’ll miss a lot of enjoyment along the way.
Do you have any advice for staying financially healthy throughout different life stages?
This may sound cliché, but the first and biggest step is just setting up and maintaining a budget. Understand what your inflows and outflows are and operate within them.
For those who are a little more advanced, don’t be afraid of debt or leverage – understand it. Leverage can be a useful tool for accomplishing your objectives, but it is critical to understand the risk and potential return of what you’re spending that leverage on.
We appreciate Lance for sharing his personal tips for staying financially healthy. We encourage everyone to do their own research and consult a trusted financial advisor when making financial decisions.
This month, we’ve been sharing content related to promoting wellbeing. One way to promote emotional wellbeing is to raise awareness of imposter syndrome in our work lives.
Imposter syndrome occurs when an individual doubts their skills, talents, or accomplishments despite genuine success. Many people who experience imposter syndrome feel like fakes or phonies and that their achievements are based on good fortune or timing instead of their own effort and hard work.
Imposter Syndrome can significantly impact how we perceive our work, self-worth, and social interactions with colleagues and peers. A study found that 75% of female executives surveyed reported experiencing imposter syndrome. 53% of female professionals between the ages of 25-34 are currently experiencing imposter syndrome. And it affects not only our work lives but also our personal lives and relationships. 70% of adults will experience feelings of imposter syndrome at some point in their lifetime.
We can overcome imposter syndrome by understanding its prevalence, cultivating compassion for ourselves and others, and sharing our experiences to raise awareness.
Here are a few ways you can address imposter syndrome:
Acknowledge it: Many successful people struggle with imposter syndrome. You are not alone. Recognizing and sharing your feelings with others helps normalize it.
Challenge Negative Thoughts: When you start to experience self-doubt, ask yourself whether these thoughts are valid. Are they rooted in evidence?
Practice Compassion: Be kind to yourself. Everyone has setbacks, but it doesn’t define you.
View Criticism as an Opportunity for Growth: Many people who experience imposter syndrome are perfectionists. Understand perfection is unattainable, and when you receive feedback, it’s an opportunity for growth and improvement.
Track Achievements and Celebrate Progress: Keep a record of praise and accomplishments. When you are experiencing self-doubt, reflect on these achievements and praise. Reward yourself whenever you combat those feelings of self-doubt and realize that progress proves your hard work.
Henry Grice and Jim West at Leggett & Platt Flooring Products in Houston, Mississippi, have found a unique way to promote sustainability while nurturing their mental and physical health. Henry and Jim often bike to work along the Tanglefoot Trail.
The Tanglefoot Trail is Mississippi’s longest “Rails to Trails” conversion that preserved an abandoned railroad corridor by transforming it into recreational trails. The trail runs right behind our flooring facility.
“Every little bit counts when it comes to saving money, reducing wear and tear on our vehicles, and working in a small way to conserve the environment,” said Jim. “The bonus is that it helps us enjoy nature while remaining mentally and physically healthy and environmentally conscious.”
At L&P, we do great work together by encouraging connection and the open exchange of perspectives and ideas between teams around the world. It’s how we build understanding, unite above our differences, and stay innovative.
Judith Kuhn, HR Director – Specialized Products Europe & Global HR Lead – Hydraulics, shared a quick tip and resource for collaborating across cultures more effectively. She said we can start by being aware of cultural differences – how we communicate, manage time, make decisions, and lead differently – and pointed us to an introduction of Erin Meyer’s eight-scale Culture Map to learn more.
For more information on collaborating across cultures, check out Erin Meyer’s book called The Culture Map.
This month on L&P social, we are spotlighting ways to promote wellbeing.
One important aspect of physical health is staying hydrated. Staying hydrated isn’t just about quenching your thirst – it’s a powerful tool for maintaining productivity, focus, and vitality throughout the workday.
The Benefits of Hydration
Boosted Energy Levels – Dehydration can lead to feeling tired and sluggish. Staying hydrated helps maintain energy throughout the day.
Reduces Stress – Dehydration can affect your mood. Staying hydrated helps maintain cortisol, the hormone responsible for feeling stressed.
Promotes Sharper Focus – Your brain functions better when hydrated, supporting cognitive processes, memory, and decision-making.
Improves Skin and Physical Mobility – Water helps flush toxins from your body, creating youthful skin. In addition, hydration helps prevent muscle cramps and supports joint health.
Tips for Staying Hydrated
Set a goal: Keep a water bottle at your desk and set a goal for how many times you fill it throughout the day.
Flavor it: Many people have difficulty drinking water because it lacks taste. Add fruit such as lemon, lime, or strawberries to your water for a flavorful twist.
Eat Your Water: Foods like watermelon, cucumbers, celery, and spinach are nearly 100 percent water. Eating these foods helps maintain hydration.
Remember, hydration is self-care. Prioritize it, and you’ll notice positive changes in your work performance and overall wellbeing.
In late April, a group of volunteers from our High Point Spring branch participated in the Great American Cleanup – a citywide cleanup and canned food drive event in High Point, North Carolina. L&P was an event sponsor.
Our colleagues collected approximately 100 pounds of recyclables and trash while cleaning up their local Armstrong Park!
We are grateful to our High Point Spring team for caring for our planet and doing great work together!
Pictured from left to right: Jimena Bugarin, Jerry Rigney, Frankie Shields, Tom Caputo, Shirley Knowles, Josie Knowles, Robert Baker, Nigel Baker, and John Caputo. Not pictured: Sharon Holmes.
May is Better Sleep Month! As a go-to source for all things bedding, we understand how important quality sleep is for wellbeing and want to share a quick tip for getting better sleep:
Go technology-free in your bedroom! 🛏️
If you want better sleep, consider removing electronic devices – like TVs, computers, tablets, and phones – from your bedroom. Scrolling on your phone, watching TV, or reading on your tablet before bed can disrupt your sleep because these activities decrease melatonin production – a hormone that regulates sleep – and keep your mind active.
