March 9th, 2020
SRC Holdings Corp., which is the oldest employee-owned remanufacturer to original equipment manufacturers in North America, was recently awarded the 29th annual Txemi Cantera International Prize in Bilbao, Spain. This award is given to organizations in recognition of their support for their workers and reinforces the values of cooperation, solidarity, participation, and equitable sharing of wealth.
Menke & Associates has the pleasure of designing and installing SRC’s ESOP in 1983. We have been amazed by their endless commitment to employee ownership ever since. That commitment is visible with a single visit to SRC’s website, where visitors will find three mentions of employee ownership on the home page alone. Their news section features open information about the latest employee promotions and title changes, as well as celebrations of employees who recently earned degrees and certifications, many with the help of the company’s tuition reimbursement program.
Menke designed and installed an Employee Stock Ownership Plan for SRC in 1983
SRC has worn its employee ownership proudly since the moment their ESOP was put in place. But their contribution to employee ownership goes much deeper than that. SRC is the company behind The Great Game of Business, a business operating system that encourages and empowers employees to think like owners, whether they are in an employee-owned company or not.
Cornerstones of The Great Game of Business include increasing transparency so employees understand how their role fits into the larger trajectory of the business, giving teams greater control and accountability over their expenses, and making the financials of the whole business available to every employee, along with the training to understand them. The goal is to make employees feel as though their decisions and contributions matter, rather than letting them feel like cogs in a much bigger machine. Thousands of businesses around the globe utilize the Great Game system.
SRC developed the Great Game system to guide leadership among its own suite of companies. “It is the product of teaching our associates to do more than just build great products; we give them the information and the opportunity to build great companies,” said SRC CEO Jack Stack at the Txemi Cantera award ceremony.
For all of us here at Menke & Associates, one of the most gratifying parts of helping companies transition to employee ownership is hearing the stories of employees truly starting to think and act like owners. It may be as simple as turning off the lights at the end of the day to cut down on energy costs, or it could be employees forming committees to keep each other informed and involved about aspects of the business that they may have never considered before. Congratulations to SRC for their well-earned award and all the work they’ve done to promote an employee ownership mindset.
Is your business ready to be the next big employee ownership success story? Contact Menke today to schedule your free preliminary analysis.
Menke & Associates, Inc. has helped over 3,500 companies successfully transition to employee ownership. Our holistic ESOP approach enables a positive outcome for the company, its employees and its shareholders. We believe ownership is powerful.
