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Foldcraft Co.: Transformational Journey

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You could eliminate corporate income taxes? What if... CORPORATE WELLNESS: I NTELLECTUAL. S OCIAL. E MOTIONAL. S PIRITUAL. O CCUPATIONAL. P HYSICAL ... – PowerPoint PPT presentation

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Title: Foldcraft Co.: Transformational Journey

1
Foldcraft Co. Transformational Journey

Steve Sheppard
Chair and CEO, Foldcraft Co. (Retired)
CEO,Winds of Peace Foundation (Current)

2
Introduction

Incorporated 1948
100 Employee-Owned S Corp
350 Members
4 Wholly-Owned Subsidiaries
2006 50MM Consolidated Sales
2007 Plan 53MM
Companies, Products, Services
Transformational
Values-Based

3
Foldcraft Business Objectives

Grow Equity By 12 Per Year
Diversify Our Business
Manifest Employee Ownership
Improve Competitively and Globally
Simple.But How?

4
What if?

You could substantially increase the involvement
and satisfaction of your employees, and in the
process afford better benefits, twice the
retirement income of comparable companies and
higher wages?
You could increase productivity at your company
by an average of 5.3 annually?
There is a magic pill that could boost your
investment rate of return by 2.7 every year?
There is an initiative that can increase sales,
employment and sales/employee by 2.4?
You could increase the likelihood of the
longevity of your firm by 15.2?
There could be a strategy that would better
assure your firm would continue operating
independently?
You could eliminate corporate income taxes?

5
What if?

You were working for the benefit of you and your
co-workers, not some absentee owners?
You had the opportunity to create real wealth
through owning equity?
You could buy into owning a company without
investing any of your own money?
You woke up one day and realized that you really
will become old and retire some day?
You had the opportunity to create twice as many
retirement bucks as the average worker?

6
ESOP Noteworthy

Outstanding Employee-Owner in America, 1993
Outstanding Employee-Owner in Minnesota, 1993,
1994,1996
Outstanding Employee-Owned Company in Minnesota,
1996, 1998
Outstanding Employee-Owned Company in America,
1998

7
Foldcraft Statistics

47/200 Participants Own 6-Figure Accounts
The Average of Those 6-Figure Accounts Is More
Than 160,000
30/47 Accounts Are Owned By Non-Managers
19 Accounts Are Owned By Factory Participants, 11
By Office
Average of ALL 200 Accounts Is More Than 75,000

8
CORPORATE WELLNESS
I NTELLECTUAL S OCIAL E MOTIONAL S PIRITUAL O
CCUPATIONAL P HYSICAL
9
II. Open Book Management Chapter and Verse

Chocolate Chip Cookies
The Great Game of Business
The School Desk Company
The ESOP Huddle
Weekly Closes
Individual Profit/Loss Statements
White Boards, Hour-by-Hour Charts

10
III. Foldcrafts Lean Journey
11
Unleashing Ownership Potential

Kaizen Teams
Inside and Outside, All Members
Intense, Focused, Accountable (25-50-40)
Educate, Facilitate, Elucidate, Celebrate
Caras Story

12
Foldcrafts Lean Journey
1st Foldcraft Kaizen Event Results

The Vent!

25 Productivity Increase

66 WIP Reduction

50 Floorspace Reduction

Proved to ourselves that it could be done

13
Process Lead Time
14
Foldcrafts Lean Journey
15
Results Achieved 98-Present

Significant product expansion

Insourcing previously purchased items

16
Foldcrafts Lean Journey
Kaizen Continues Every Day, Every Hour!

Monthly Events
Point Kaizens
HOT Lab Work
Public Events
Hour-by-Hour Charts
White Boards
Etc.

17
IV. Ownership Magic

Opportunity for Culture Shift
Holistic Development
Participation
Ownership

18
Stewardship

Membership in an organization means that we have
chosen and accepted this playing field. This
choice and acceptance becomes our contract. Our
desires for compensation, self-expression,
participationwhatever we want from a placeare
viable only so long as we can commit to the
mission, results, constraints, principles,
difficulties of the larger institution. If we
cannot support these requirements and boundaries,
then we should leave. Stewardship offers more
choice and control in exchange for a promise.

19
What I Promise to You
Open Book Management Member Involvement
Stewardship Servant Leadership
Listening Vision 100 Best Companies
Change Opportunity
20
What You Promise to Me
Partnership Commitment Participation Attitude
(Courtesy, Respect) Body, Head,
Heart Change Self-Management Peer
Pressure Desire to Be All That You Can Be
21