King Arthur Flour is one of those rare companies where you find that the CEO is ready to take it to the next level just to prove he really means it when he says that is an employee’s company. Frank and Brinna Sands’ Employee Stock Ownership (ESOP) plan really hit it off with its employees. It turned out to be dual benefit for the company. The company was not only able to retain its employees but now the employees were even more engaged with the company. The case is a great example on how everything that the company does can be geared towards employee satisfaction. The ESOP served as a retirement plan, provided profit sharing to the employees and also tied them together to work for the betterment of their company. The key here was not just to provide the benefits to the employees but also to make sure that those benefits were recognized and appreciated within the company as a whole. Voigt took several measures to make sure every success was recognized and celebrated. The company hosted regular special events such as potluck lunches, barbecues and field trips and recognized the employees who reached five years of employment. This clearly instilled a sense of belongingness and pride for the employees who are felicitated and also served as a motivation for others in the company. The company’s participatory and open-book management style said volumes about the company’s dedication to make it an employee-friendly company. Some of the ways in which Voigt tried to sustain the company’s culture was by creating a communication and culture team, holding monthly town-hall meetings, conducting biannual employee-owner meetings and distributing a weekly newsletter. So clearly, the main idea here was to improve communication within the company so that the employees lower down the hierarchy feel the transparency in the system. The inherent belief being that transparency instills a sense of faith within the employees and hence improves collaboration. The...
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