Leading Companies Online Magazine Archives
The Innovations Award:
Recognizing the Best Ideas in Employee Ownership
By Emily Meyertholen, Beyster Institute Staff
Has your company found a new or creative way to harness the power of employee ownership? Maybe you know of another employee-owned company whose extraordinary culture or unique plan caught your attention. It’s time to share it with the rest of the world and celebrate the innovations that make employee-owned companies a step ahead of the rest.
Each year at the Employee Ownership Annual Conference, the Beyster Institute and the National Center for Employee Ownership recognize the exceptional companies who take their employee ownership programs to the next level through the Innovations in Employee Ownership Award, sponsored by TEOCO Corporation of Fairfax, Virginia. Applications for the 2008 award are being accepted now through February 1.
The award committee reviews submittals from companies who created and implemented a variety of initiatives, programs, and even contests designed to engage and educate employees, promote the entrepreneurial spirit, enhance communication, and increase the efficiency and effectiveness of plan administration.
Besides being recognized within the employee ownership world, receiving an Innovations Award can be a great way to show clients, customers and competitors your dedication to employee ownership and its unique ability to create dynamic companies. The 2006 award even led to a New York Times article featuring two of the honored companies.
Although the award can recognize anything from plan design to employee ownership culture, there is just one grand prize winner. At the 2007 Employee Ownership Conference in San Diego, TEOCO Chairman and CEO Atul Jain awarded the grand prize to Cal-Tex Protective Coatings of Scherz, Texas for its unique equity sharing setup: Cal-Tex employees set their own production goals in accord with the company’s quarterly goals in order to gradually achieve the status of Certified Employee Owner (CEO) and become involved in company planning sessions. The judges wrote that “this company’s employee owners engage themselves in their company’s success profoundly and personally—the level of creativity, connection and exuberance at Cal-Tex amazed us.” Awards were also received by New Belgium Brewing of Fort Collins, Colorado; North Highland of Atlanta, Georgia; Paychex of Rochester, New York; and Pizzagalli Construction of South Burlington, Vermont.
The Innovations in Employee Ownership Award is open to any employee ownership company that promotes the spread of employee ownership plans or the development of best practices in employee ownership. Companies are welcome to nominate themselves, and service providers are invited to nominate clients. Share this opportunity with the impressive employee-owned companies you know, and don't forget to submit applications by February 1.
©2007 The Beyster Institute and its authors and their entities. All rights reserved.
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