Employee-owned Chroma Technology was recently named one of the best small and mid-sized places to work in the country. The 2010 Top Small Company Workplaces competition is conducted by Inc. magazine and Winning Workplaces. The winners were announced in Inc.'s June issue.
Chroma Technology Corp., founded in Bellows Falls, VT, in 1991, manufactures precision optical filters and coatings for a broad range of applications. All 89 employees of the firm have an ownership stake in the business, which has been ambitious in making numerous improvements in recent years, including opening a new, wholly owned subsidiary to design and build biomedical related products for the industry. The company's focus on customer service and creating outperforming products has helped it grow revenues in a tough economy.
Chroma was recognized for several practices, including:
- The company fills a third of its job openings from within;
- To prepare employees for their additional responsibilities, the company sends them on 12-week leadership development programs;
- Board and steering-committee meetings are open to anyone;
- The company covers 100 percent of health insurance premiums for both employees and dependents.
The common characteristics of the Top Small Company Workplaces include a commitment to aligning their workforce with a clear vision, mission, and values; communicating with openness and trust; and investing in employees' continuous learning and development. These practices were maintained or strengthened as a means to weather the recession. Further, many winners chose to share the pain rather than lay off colleagues. Salary reductions were taken across the organization, starting with the CEO.
Winning Workplaces and Inc. received nearly 500 completed applications for the contest. A national panel of experts in leadership and small to mid-sized business judged the finalists based on specific metrics and qualitative assessments of their success in creating the kind of workplaces that engage employees and deliver successful results.
"This year's winners show that the quality of the workplace can be a competitive advantage. I'm amazed at how well they have come through the recession. Clearly, their commitment to their values and people practices are an important part of this success," said Gaye van den Hombergh, President of Winning Workplaces.
"People want employers who care for and challenge them. And they want those employers to be financially healthy so they can keep caring for and challenging them far into the future. The 2010 Top Small Company Workplaces do just that. Their stories, in the June issue of Inc. magazine, are models of smart management and enlightened leadership," said Jane Berentson, Editor-in-Chief of Inc. magazine.
The 2010 Top Small Company Workplaces winners are:
- A Yard & A Half Landscaping LLC - Waltham, MA
- All4 Inc. - Kimberton, PA
- Alternate Solutions HomeCare - Kettering, OH
- Biomark Inc. - Boise, ID
- Chroma Technology Corp - Bellows Falls, VT
- Daphne Utilities - Daphne, AL
- Dealer.com - Burlington, VT
- Dixon Schwabl - Victor, NY
- Ginger Bay Salon & Spa - Kirkwood, MO
- MAYA Design Inc. - Pittsburgh, PA
- NY Jets - Florham Park, NJ
- Optimax Systems Inc. - Ontario, NY
- Patagonia - Ventura, CA
- PortionPac Chemical Corporation - Chicago, IL
- Red Door Interactive Inc. - San Diego, CA
- Return Path Inc. - New York, NY
- Tarlton Corporation - St. Louis, MO
- Tasty Catering - Elk Grove Village, IL
- The Sky Factory LC - Fairfield, IA
- Van Meter Industrial - Cedar Rapids, IA
Winning Workplaces is an Evanston, IL-based not-for-profit, whose mission is to help the leaders of small and mid-sized organizations create great workplaces. Founded in 2001, Winning Workplaces serves as a clearinghouse of information on workplace best practices, provides seminars and workshops on workplace-related topics and inspires and awards top workplaces through its annual Top Small Company Workplaces initiative.