Are you looking for the best precision machining company for your business? If so, you may be thinking about several different shops. However, you’ll enjoy a lot of benefits when you go with an employee-owned shop and here are some important reasons why.
What Does Employee-Owned Mean?
When employees own a company, it doesn’t mean they create a joint venture to buy a business, and then everyone gets together to manage all the day-to-day operations. Employee-owned means that the workers have a vested interest in the company. In other words, the company lets the workers invest in stock, and they essentially become part owners. Some businesses give stock for years of service, and others give employees discounts on stock. In fact, they may have a stock matching program. For example, if a worker buys ten shares, he or she may receive 10 more shares.
Benefits of Employee-Owned
Why would a precision machining company want to let the workers own part of the business? When the workers own part of the company, they are more likely to be success oriented. For instance, suppose a shop was doing a project for an aerospace customer, and one of the pieces was not perfect. Some workers may be tempted to let minor imperfections slide from time to time, so they won’t have to do more work. However, if a worker has a financial interest in the business, he or she is more likely to be quality conscious and understands what can happen if they lose a valued customer.
How These Business Benefit You
When you do business with an employee-owned precision machining company, you can be sure you’re getting the highest quality goods and services. Everyone in the shop works together and understands the value of their customers. You’ll get the best workmanship and fastest turnaround times from motivated people working for you.
