Audio: Dial toll free: Access Code: Problems? ReadyTalk Customer Care: King Arthur Flour Company: Mixing Tradition with New Inventions Steve Voigt, President & CEO Sarah McGinley-Smith, Employee-Owner Moderator: Diane Stoneman, Dir. of Consulting and Training, Winning Workplaces Start Time: 10 am CT
Founded in 2001 by co-owners of Fel-Pro Auto Gaskets Committed to small enterprises building healthy, productive work cultures Triple bottom line: Business, People, Community. Winning Workplaces
Online Clearinghouse Business Leader Webinars Consulting & Training
The Wall Street Journal Winners WSJ.Com/Entrepreneur 2008 Best Practice WinningWorkplaces.org Top Small Workplaces conference Oct. 1& 2 in Chicago
ATA Engineering Decagon Devices Integrated Project Management (IPM) JA Frate Jackson's Hardware Jump Associates King Arthur Flour Company Landscape Forms Lundberg Family Farms New Belgium Brewing Phenomenex Rainforest Alliance Resource Interactive The Paducah Bank & Trust The Redwoods Group
2008 Winners at a Glance Steady rate of growth, = 23%. Revenues range= $8-$107 mil.; average $36 million. Employees ranges from 48 to 477; average 154. Average tenure= 6 years; average turnover rate 13%. Stable leadership: avg. CEO tenure = 17 years. Long term business: average 42 years. 10 out of 14 firms= employees share in ownership.
Our Agenda Today King Arthur Flour History Evolution Over Time- Two Perspectives Lessons Learned Audience Questions
Meet our Presenters Steve Voigt President & CEO Sarah McGinley-Smith Employee-Owner
King Arthur Flour History 1790: Henry Wood began importing flour to Long Wharf in Boston 1896: Owners gave product a new brand name: King Arthur Flour 1984: Then-owner Frank Sands moved company to Norwich, Vermont 1990: Mail order catalogue established 1992: Baker’s Store opened 1995: King Arthur Flour’s new headquarters, Camelot, was built. 1996: Frank Sands decides to sell his company to his employees 2004: King Arthur Flour becomes 100% employee-owned : Ranked in top 5 for best places to work in Vermont
Snapshot of Growth Employees:3 160 Products offered: Annual catalogues: 125,000 5,800,000 Annual s: 0 25,000,000 Facilities (sq. ft): ,000
King Arthur Flour Today 170 employee owners $73 million in sales Flour: grocery, Bakery Food Service Direct: web, catalogue, retail store Education: Baking Education Ctr, LifeSkills, Traveling Baking Demonstrations
Company Transformation Challenges Culture Leadership during change What went right
Employee Involvement at time of transition Employees already acting like owners- now actually owners Stock price decrease Ownership vs. operational involvement Maintaining culture after original owners phase out
Employee Involvement Today= Teams Safety ESOP Stewardship
Employee Involvement Today= Brown Bag Lunches
Employee Involvement Today= Owner Meetings
Employee Involvement Today= Intranet/Tablespoon/Wiki
Employee Involvement Today= Brain food Classes
Ingredients for Success Ingredients for Success Involvement (the Round Table) Quality Fun and Celebration Pride Open Book
Lessons Learned –Succession is tricky (it was in the days of kings as well) –Developing leaders from within to match pace of new opportunities –Communication even more critical
ROI Impact of Transformation
Questions or Feedback? Steve Voigt President & CEO Sarah McGinley-Smith Employee-Owner
Upcoming Webinar Engaging Fresh Young Talent in the Workplace Featuring: Dave Schmitz, General Mgr, The Steppenwolf Theatre, Tom Walter, CEO, Tasty Catering, Elk Grove Village, IL October 20, 10:00 a.m. CST
Thank you for joining us. Please fill out feedback evaluation form.