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| April 2009 In this Issue: Brattleboro Business Succession Workshop Employee Ownership Day Vermont Employee Sponsored by:
Co-sponsors: • Atlantic Management Company • Carris Reels • Hallam-ICS • KeyBank • The ESOP Association, New England Chapter Supporters: • Blue Ridge ESOP Associates • Bill Bruett, UBS Financial Services, Inc. • Cooperative Fund of New England • Crowe Horwath LLC • Empire Valuation Consultants • Gallagher Flynn & Company • Hickok & Boardman Group Benefits and Retirement Solutions • Merritt & Merritt & Moulton • Pension Works • Principal Financial Group • Red House Building • Schatz Law Offices |
2009 Vermont Employee
Ownership Conference slated for June 5th in Burlington First Annual Employee Ownership Awareness Day a Success Majority of Fortune Magazine's "Best Companies to Work For" List have Broad-Based Employee OwnershipAccording to the National Center for Employee Ownership (NCEO) of the 66 organizations on the Fortune magazine list of the 100 Best Companies to Work For in America that are not nonprofit organizations, law firms, or accounting firms, 38, or 57%, have broad-based employee ownership plans. Companies must have at least 1,000 employees to apply. The percentage of employee ownership companies is almost the same in 2009 as it has been for the last several years. Fostering Healthy Workplace Communication During the Economic Downturn By Ted Freeman and Alex Moss, Praxis Consulting Group Research and experience tell us that effective communication engages a workforce in ways that can enhance business performance. And in tough times, effective communication with employees is more important than ever. To strengthen your workplace culture and your bottom line in these turbulent times, here are some guidelines for sharing difficult news and bringing your employees into the conversation about coping with the current economic uncertainty. 1. Communicate Early and Often. The economic situation creates uncertainty about how companies will fare and how individual employees will be affected. This uncertainty not only creates anxiety in a workforce, it demotivates people. If you have information, share it. And if there are questions you can’t answer, tell people, “I don’t know, and here’s why….” Sharing everything you can creates trust in your organization. Even if the picture of the future isn’t clear, people will know they’re not being intentionally kept in the dark. Companies tend to fare better when they communicate to their people everything they can about:
2. Foster Two-Way Communication. Management research shows clearly that companies are more likely to succeed when employees feel that their ideas and input are requested and valued. Employee involvement is repeatedly cited as a core characteristic of high performing companies. Create channels for employees to think through and provide meaningful input to managers and top leadership to improve the top line and bottom line. If they feel they have been involved in shaping the strategy for weathering the economic storm, they’re more likely to implement the strategies well and to keep thinking of ways your company can reduce costs, produce more efficiently, and compete more successfully. This project is funded by a grant from the U.S. Small Business Administration (SBA). SBA’s funding should not be construed as an endorsement of any products, opinions, or services. All SBA-funded projects are extended to the public on a nondiscriminatory basis. |
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Mark your calendars for the 7th Annual Vermont Employee Ownership Conference, being held Friday, June 5th at Champlain College in Burlington.
The VEOC hosted its first-ever Employee Ownership Awareness Day at the Vermont State House on Tuesday, March 24th. The goals of the event were to familiarize legislators with the benefits of employee ownership; recognize Vermont's employee-owned companies and their contributions to the state's economy; and highlight the mission of the VEOC.