Paul Meriman, the founder of HISCO, was one of the pioneers of ESOPs (Employee Stock Ownership Plans), and we are now celebrating the 30-year anniversary of the HISCO ESOP. Over this time, we have been steeped in a "culture of ownership." And against a tough economy over the past three years, this culture of ownership allowed HISCO to create a competitive advantage.

Ownership gave us the ability to create a common vision, or better said, a deep sense of purpose. This was not just any company facing a challenge; this was our company. Leaving for another company or industry was not an option. As a group, we became committed to HISCO's success.

A good example of this is a conversation I had with a coworker who had been with the company for nine years. He worked his way up from the warehouse and customer service to two successful years in outside sales. The downturn hit his branch especially hard, and after some restructuring, he was wearing several hats…and spending most of his time back in the warehouse. I pulled him aside to compliment him for his resiliency and dedication, and he humbly said, "This is a great company—our branch is down right now, but we'll get back on top. I'll do what I need to make that happen."

Another area where the ESOP played a critical role was in hiring impact players. Other companies in our industry were aggressively cutting people, services, and were restructuring compensation plans. Consequently, there were some very effective people on the open job market. Additionally, there were top producers working for our competitors, who for the first time in their careers, were starting to look outside their companies. HISCO hired 12 impact players in three years. Two went on to open new branches for HISCO, allowing us to expand into San Jose, Calif., and Boston. For each new person, the ESOP was a major draw. They were enticed by the ownership, retirement benefit, and overall culture of the company.

Finally, ESOP helped us attract a key supplier we had been pursuing. While at a business dinner the night before our presentation, the company's global business manager and I talked about our industry, the economy, each other's business, our approach to the market, and ESOP. After the next morning's formal presentation, and in a follow-up conversation, the manager said, "…When I began to understand how ownership drives the passion in your company—that's when I knew you were the right partner for us."

Over the past three years, ESOP has made the difference. All companies need to make adjustments in difficult times. However, when people are asked to give more for just the sake of the bottom line, it can be de-motivating. As a shareholder and owner, it's much more than a number. It represents our retirement, our children's education or whatever you hold for that dream of tomorrow.