Real Talk With Puneet Kochar
The past year has been devastating for the food and beverage industry, yet it brought unprecedented collaboration, innovation and support. I recently connected with powerhouse Woman of WORTH Puneet Kochar, Head of Finance for Tacofino and co-founder of the Vancouver Food and Beverage Community (VANFBC). Most recently, Puneet has been recognized for her work on Shift Change, an industry initiative that aims to encourage dialogue about issues prevalent in the hospitality industry like diversity and inclusion, mental health and substance dependency in an effort to find meaningful and lasting solutions. Puneet filled us in on these exciting initiatives and shares her advice for future leaders along with tips for balancing a heavy workload. I am honoured to be featured as a Speaker for Change with Shift Change on June 7th.
When you are not working as Head of Finance for Tacofino, fundraising for VANFBC or organizing events for Shift Change, what might we find you getting up to?
Life for me pre-pandemic was quite different as you would expect with most people. I love to cook and host dinner parties with my friends, which I have not been able to do. I enjoy team sports and playing a lot of soccer and volleyball. I took any chance I got to travel, explore various parts of the world, learn about new cultures, understand how people live life elsewhere, and most importantly enjoy new cuisines. A lot of that has not been possible for the last little while, so as we all look for more outdoor activities, I have recently started playing a lot more tennis. You can find me at various courts in and around Vancouver, either waiting in line or playing doubles. My love for food has not changed, so I try to get takeout at least a few times a week to support local restaurants and have picnics in the park.
Women in hospitality are at a higher risk of burnout. What do you do to balance the demands of your roles?
Most of us juggle multiple roles and responsibilities, and boundaries between work and life can often get blurred. One thing that has really helped me is to focus my time and energy on the things that I can control and let go of what I cannot. I try to set realistic goals for myself and ask for help when it is needed and available. Most importantly, I try to take care of myself physically, psychologically, and spiritually. I eat a well-balanced diet (most of the time – cheat days are okay!), exercise regularly, do yoga, read, and ensure I take at least 15 minutes out of my day to focus on breath work. I am also a bit of a social butterfly, so spending time with friends and family is especially important as it helps me re-energize.
Can you share with us some of the highlights from your career to date?
One of my proudest moments to date is of my involvement in helping Tacofino pivot during a significant crisis. We were forced to temporarily lay off almost all our workforce, redesign a part of our business, and make quick strategic decisions that had significant impacts on both the business itself and the livelihood of the individuals that made our organization a great place to work.
I am also proud of being the founder of Womxn of Tacofino, a group that provides a safe space for personal and professional growth and development. It promotes healthy discussions of challenging issues, while working in solidarity to help bridge the gap of gender inequality in the hospitality industry. Our goal is to empower women and those that identify as women to be more confident and feel supported in speaking up against injustices, as well as being the catalyst for change in our industry.
Lastly, co-founding VANFBC and facilitating help for hundreds of people in our industry has been the most impactful highlight of my career. Throughout the process, I have been able to build more empathy, compassion, and gratitude.
Its not always common to see women in finance leadership roles in this industry. Any advice to women who want to pursue this path?
I have come across many women who choose to leave the industry because they feel they no longer want to work odd hours or be a server or a bartender anymore. However, their love for everything else the industry has to offer remains. The opportunities to grow in the hospitality industry are limitless. It allows the possibility of combining your passion for food and hospitality with a career in finance.
My advice would be to look at the bigger picture of how a restaurant operates and try to get involved in processes that will help build valuable experience. Cash-outs, invoicing and accounts payables, and petty cash are a few examples of responsibilities that will help build a solid foundation for your career in finance. I would also recommend finding a female mentor in a finance leadership role that can help guide you along the way. I would be happy to connect with anyone interested in pursuing this path.
What words of advice do you have for women in the industry interested in senior leadership, who may be discouraged right now?
It is a trying time for all of us right now. We have Covid fatigue, some of us are tired and overworked, and the general feeling most of us have is “meh” or “blah”. Adam Grant summarized these feelings with a fancy word – “languishing”. There is no doubt it is difficult to be motivated when feeling that way. However, having a plan and taking some time to set career goals for yourself can help one work toward a vision/purpose.
If you are working at an organization where you would like to eventually move up to a leadership role, make it known. Talk to your manager and express your interest in long term growth with the company. That way not only can your manager help you build a roadmap to reaching the leadership role you are looking for, but you will also be first in mind when a new opportunity comes up. A good organization will highly value commitment and growth within, rather than hiring externally. This helps build a great culture and encourages employees to see possible growth opportunities within.
I would also suggest building a mentor/mentee relationship with someone in a role you would like to be in one day. This could be with someone within or outside of your organization. Understanding what it takes to reach that point, having someone share their lived experience, and being held accountable to some degree goes a long way.
Can you talk about one woman who has impacted your life and career?
I have come across many successful women throughout my life that have provided me with valuable knowledge and have helped me grow. However, my biggest inspiration in both my personal life and career has been my Mum. She was brave and courageous enough to immigrate to a new country in her early twenties and build a new life for herself independently. She managed to raise four kids, while being a successful entrepreneur. Now that I am closer to a point in my life where I will have a family of my own someday, I have a much greater appreciation for her ability to juggle both her professional life and family obligations. She showed me it was possible to have a successful career and be a loving and present Mother.
You have been a force for good in supporting hospitality workers through the pandemic through VANFBC. Tell us about the origin of this group and what you're most proud of since its inception.
When the pandemic first hit and restaurants started to shut down, it was heartbreaking to see individuals who make hospitality the amazing industry that it is, get laid off and unable to make ends meet.
VANFBC was born out of a desire to help and give back at a time it was needed the most, while we waited for government assistance programs to be set up. We have raised over $100,000 since we started and have distributed almost $60,000 to those who needed that extra bit of help to pay bills, make rent, or buy groceries. Our applications are still open, and we continue to receive assistance requests daily.
One of the most heartwarming things to see was how quickly breweries, wineries, coffee shops, grocery stores, restaurants, and the general public were willing to pull whatever they could together support this cause.
When you look back on your career, what helped you strive to senior leadership roles? What pushed you?
I have always been very motivated to climb the ladder as quickly as I could, so as soon as I felt I stopped learning new things and being challenged, I took it as a sign to move on. I kept a mindset of “what’s next” and stayed curious and interested in what else there was out there. I was never afraid to ask for more. Whether that meant taking on more work and responsibilities that would help me grow, or asking for a raise or a promotion, I worked hard and tried to ensure those around me believed that I was a valuable asset on their team they were not willing to lose.
My drive to look at the bigger picture, taking ownership of my role, and trying to be a part of strategic decisions as much as possible has helped me get to where I am today.
What are your favorite books, podcasts, websites and/or resources on leadership?
I am a huge fan of Brene Brown’s work. She has done extensive research on courage, vulnerability, shame, and empathy, which all help in being a better leader. Two of my favourite books she has written are Dare to Lead and The Gifts of Imperfection. Simon Sinek and Adam Grant have also had a significant impact on my life. I highly recommend watching Simon Sinek’s Ted talk, “Start With Why: How Great Leaders Inspire Everyone to Take Action” and reading Adam Grant’s “Originals: How Nonconformists Move the World”.
You deserve a vacation. Where are you headed when COVID-19 is behind us?
I think so too! I am extremely fortunate to have had the opportunity to travel lots. However, the world is too large for it to ever be enough. We were forced to cancel our trip to Indonesia last year due to the pandemic, so our next big vacation will be spent on the land of giants, jungles, and volcanos. It has been an old bucket list dream of mine to explore even just a small bit of the world’s largest island country.
About Puneet Kochar
Born and raised in Vancouver, Puneet earned her CPA and CGA accreditation and a BBA in financial management and worked in the investment banking field for a number of firms before venturing into the hospitality industry, where she found a better fit for her passion for food, nurturing people and promoting team-first philosophies. After serving for three years as an Assistant Controller for Earls Restaurants, she joined the Tacofino family as Controller in 2016 and was promoted to Head of Finance in 2019.
One of her recent contributions to the company is her role in the creation of a ‘Womxn of Tacofino’ group that hosts monthly meetings, events, and discussions on how to promote gender equality in the industry as a whole. The group provides a forum for womxn to share stories, encourage personal and professional growth and development and engage in conversations on how womxn can continue to be catalysts for positive change in the world of hospitality. She also contributes to Tacofino’s Shift Change initiative, aimed at encouraging dialogue about issues prevalent in the hospitality industry like diversity, equity and inclusion, mental health, and substance dependencies, in hopes of inspiring people to take action.
Puneet is the co-founder of the Vancouver Food and Beverage Community (VANFBC), which was created during the onset of the Covid-19 pandemic to support our community by providing financial assistance.