In July 2022, Monty Ragland, PSI Chief Executive Officer (CEO), and Monica Dominic, PSI Chief Client Officer (CCO), celebrated a long-awaited achievement: the purchase of PSI. This decision, years in the making, involved extensive planning to ensure a seamless transition for the clients and team. Now, nearly one year later, the new leaders shared how they are handling the added responsibilities and what the plans are for PSI’s future.
“I believe our roles have broadened significantly and elevated moderately,” said Ragland. “With the additional duties it’s key to have a north star, so you don’t lose focus.”
As owners, Ragland and Dominic remain involved in certain day-to day-responsibilities such as operations and relationship management, but there are other obligations that they didn’t have before, or wholly own, prior to sitting in the owner’s seat. Priorities such as banking relationships, supplier and vendor payment approvals, collections, internal technology changes, cash management, and more have required a learning curve.
“I’ve learned so much about myself,” commented Dominic. “I’ve learned to pre-plan everything and expect the unexpected. I’d say my biggest change in leadership is the all-around understanding of the little moving parts we knew nothing about before that happen in the back end.”
With all the added responsibilities and changes, the owners can’t escape feeling the added pressure. Ragland commented, “Thankfully, we enjoy what we do so we continue to make efforts to learn, improve and grow in all aspects of our business – not just financially, so that we can pay it forward, create opportunities and positively impact this community.”
To ensure they effectively manage all aspects of the business, and their time, Ragland said he focuses on “adding and elevating new talent and subject matter expertise that fit the company culture and team.” He also recognizes that he [and Dominic] can’t do everything. While they maintain an optimistic outlook, they have learned to expect that things may not go as planned and to be prepared to pivot at any time, compartmentalize, and delegate.
When asked how she handles the added pressure, Dominic commented, “It is a continuous learning curve. I find it hard to not consistently be looking at my emails or texts. Even when taking vacations, I am always “tied in” and that is a problem, but I try to take down time on the weekends. I keep reading that things will settle more after the first year, so I am hoping that happens!” Dominic is also a competitive ballroom dancer and finds that when practicing, she is able to focus on something healthy and just for her outside of the office.
A Look Ahead
When they look to the future, the priority is growth and scaling in a manner that makes sense for the clients and the team, while always driving their mission and maintaining their core values. “We want to help more people find the next opportunity for their personal careers, and success for themselves and their families. We want our clients to have the right people in the right seats. We can’t wait to grow – when the time is right!” said Dominic.
As the IT staff augmentation industry continues to advance, companies will continue to need people. PSI is in the unique position to support companies whether they are downsizing full-time employment or increasing staff augmentation.
“Similar to other industries there will be disruptions to PSI with artificial intelligence,” said Ragland. “The key for businesses like ours is to keep staff up to speed and trained on the changes in the industry happening around them and understand how the changes impact their work and our clients. The industry should remain strong as economic uncertainty will be constant and PSI clients will continue to need flexibility in their talent acquisition.”
As PSI grows the team will continue to be involved in workforce development with a special focus on elevating the minority community. PSI’s commitment to central Ohio and their people is what makes the organization the unique entity that it is. The new owners reflect a collaborative, supportive environment where everyone is encouraged to bring their whole self to work. By taking time to understand the needs of those around them and finding the right people to deliver quality results, PSI’s new owners are ensuring a bright future ahead.