On October 5th, Technomics officially kicked off our Employee Ownership (EO) Month. This month-long celebration provides a platform for highlighting our outstanding employee owners, reaffirming the value of EO, and giving our team an opportunity to reflect on what EO means to us (See our kick-off Blog post: “It’s Our Company: What Employee Ownership Means to Us”). With the celebration in our wake, we take a final look at those events that made this month a success and kindled the flames of ownership pride at Technomics.
Ownership In A Nutshell: EO Education and Valuation
After the October 5th EO Month Kick-Off, one of our newest employee owners, Sara Shaw, exemplified the very temperament of the kind of employee owner we have here at Technomics by taking it upon herself to investigate the quantifiable value-add of employee-owned companies. Her research quantified what we all knew intuitively to be true – employee owned companies succeed. She discovered that employee-owned businesses demonstrated an additional 2.4% growth in sales over businesses without employee stock ownership plans(1). In the Employee Ownership Foundation’s 24th Annual Economic Performance Survey, 77% of respondents reported an increase in revenue, while over 82% reported an increase in company stock value. In additional to these growth numbers, employee-owned firms show positive cultural markers, such as improved collaboration.
In aggregate, this data points towards one conclusion for me: employee-owned companies continue to succeed because they identify clients’ problems and continually utilize novel techniques, analysis, or perspective to provide exceptional solutions.”
Sara Shaw, Associate, Technomics, Inc.
The Practice and Application of EO
After employees were introduced to the details of what Employee Ownership is, the next sessions of EO month focused on examples of where it has been applied successfully at Technomics. On October 17th, we learned about the different levels Client Value Creation (CVC) and how the process benefits our clients, our company, and the individual employee owners themselves. Employee owners across an assortment of project areas applied that knowledge a step further by demonstrating examples of value creation that were successfully achieved for their respective clients. Through a series of presentations, Technomicians showed how they have contributed to innovation, foundational tools and analyses, and decision support for our clients. Each of these success stories has brought with it multiple beneficiaries; Clients benefit through improved processes, new methodologies, and better data with which to make important acquisition decisions. Our firm grows through an improved reputation that allows us to gain additional talent. Lastly, employees themselves gain professional experience, learn new skills, and are better able to teach and help one another.
My father and father-law owned their own businesses. I learned how to swing a hammer at an early age and often joined my dad at the job site during school breaks. It takes dedication, commitment, sacrifice of personal time, and teamwork to own and operate a successful, growing business. When each one of us decided to join Technomics, we decided to become business owners.”
Joe Caico, Subject Matter Expert, Technomics, Inc.
We also highlighted recent corporate development successes, which provided employee owners a chance to learn about the Business Development Lifecycle at Technomics and understand how both existing initiatives lead to growth within the company. Being part of an employee-owned company means that we are all responsible for growing the company. Al Leung, CEO and President of Technomics, Inc., put it best:
All have gone ‘above and beyond.’ Some have done so with great sacrifices. I thank them and all of you who have gone above and beyond. Your efforts make us who we are; a true standout among our “competitors” and a company we are proud of owning.”
Al Leung, President & CEO, Technomics, Inc.
Last, but definitely not least, our colleagues presented on the privilege and responsibility of employee owners to give back through the newly revamped (and relaunched) Technomics Community Service Program. Technomics has long had a commitment to community service through various partners, and the relaunch showed how we are looking to grow new partnerships to improve our community outreach even further. Technomician, Deji Oladipupo, shared more about the relaunch and what these new partnerships meant to him.
I’ve always thought helping out and giving back to the community was a great practice, but was never aware of the wide variety of opportunities that I felt like I could passionately directly impact. While attending Virginia Tech, I was an unofficial member of the [National Society of Black Engineers] NSBE chapter there and really felt empowered by the sense of brotherhood and [the] ‘pay it forward’ mentality that was often preached. I am definitely looking forward to getting more information about the mentorship opportunities within NSBE Junior and plan on spreading the word.”
Deji Oladipupo, Senior Associate, Technomics Inc.
Celebrating Ownership and Our Employees
Additionally, Technomics took this time to recognize our Employee Owners of the Year. Employees at senior, mid-level, and junior levels were recognized for their contributions to the company over the past year. Orly Olbum won the Junior award, Emily Foglia won the Mid-Level award, and Brian Flynn won the Senior award! Al took the time to recognize each of them for the work that they’ve done to drive the company to success this year. Pictured at the left is Al with Orly, Brian, and Michelle Petre, who accepted Emily’s award on her behalf.
Although most of the events of Employee Ownership Month were educational in nature, there was still plenty of room for fun! On October 18th, Technomicians went to Top Golf in Alexandria, VA, where they enjoyed an evening of food and drinks while practicing their golf swings on the driving range. Even in a more relaxed, celebratory setting, employees found ways to demonstrate ownership. Employees took it upon themselves to coordinate carpools to the event and used it as an opportunity to interact with others outside of their core project responsibilities. At the end of the month, operations employees gathered for an appreciation lunch in celebration of their contributions to the company.
Additionally, the last day of Employee Ownership Month coincided with another important day of the year: Halloween! To celebrate, employee-owners put together costumes to see who could win the best costume honors. To end the festivities, Jack Titus took home the costume contest honors with his impressive rendition of Guy Fieri.
Photos by John Choe
(1) Blasi, Joseph, and Kruse, Douglas: “Firm Survival and Performance in Privately Held ESOP Companies” https://www.emeraldinsight.com/doi/abs/10.1108/S0885-3339%282013%290000014006