Reflecting on lessons learned over 20 years of fostering a “best place to work,” Brooks Slaughter, president and CEO of Richard P. Slaughter Associates, cites a long-held company strategy.
“We resisted the temptation to grow, grow, grow,” Slaughter said. “By not growing as fast as we could have, we’ve been able to integrate [new employees] into our culture and keep reserves to never let them go.”
Because the firm keeps new client growth to an annual maximum of 20% of total clients, it enhances a sense of security for its staff, who don’t worry about layoffs.
Another strategy contributing to worker satisfaction is the company’s decision, made10 years ago, to offer employees stock in the company. With an ownership mindset comes a greater commitment to the firm.
“The employees feel that ‘I’m not just minding the company’s money, I’m minding mine, too,’” Slaughter said. “There are no partners. It’s not that two-tiered system of owners and non-owners. Employees don’t have that psychological barrier of feeling less important.”