Example of a High Performance Ownership Culture
The September 15, 2011 Employee Ownership Update is online and discusses the following:
Introducing the Equity Compensation Report
Two Legal Staffing Companies Adopt ESOP
BNA to Be Acquired by Bloomberg
Discounted CEP Registration for NCEO Members
NCEO Sponsors E*Trade's Private Company Forum
Employee Ownership on the Cover
This Update shares the story of Austin Industrial, a 7,000 employee ESOP company, in Where employee-ownership puts skin in the game. The article provides a historical look at the company and ESOP, including a look at the company’s “high performance culture”:
Imagine the culture of a company that is 100-percent employee-owned. A company where nobody is too good to take out the trash or remember to turn off the lights. That’s right, it’s very different. Austin Industrial’s "high performance culture” drives efficiency through internal customer service and accuracy that fuels the Austin advantage to its external customers.
The alignment realized when everyone rises and falls together is electric in its intensity. Shared values with Austin integrate the notions of economic health, serving customers and making meanings down the line. In Austin’s culture, decisions are made on a win/win basis as the long-term implications of actions are consistent with its identity. Austin is a member of every community that its 100-plus project sites are located within. Its critical measurements are based on more than just its financial goals.
Austin’s great culture equals aligned, motivated employee-owners with a bias for continuous improvement and innovation. With essentially unlimited resources, Austin Industrial is able to give its team the best tools to work with, including the newest technologies.
It also discusses how two legal recruiting and staffing companies have sold their stock to the HCMC Legal, Inc. Employee Stock Ownership Plan (ESOP) and how Bloomberg LP agreed to acquire BNA, a large employee owned company.