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It pays to listen to your employees
When Cory Meyer took over as president and CEO of Catalina Lighting in 2006, he realized he had to change the company’s business model to drive profits at the struggling company. Catalina Lighting, a designer, manufacturer and distributor, had experienced back-to-back years of losses and the company needed to change. He also realized he had to get his employees involved in examining the operating inefficiencies within Catalina Lighting.
How he changed the corporate culture and the direction of this company is the subject of a cover story in Smart Business magazine this month. The article details how Meyer has successfully turned the company around by communicating more effectively with his employees, reducing costs and inefficiencies and examining every aspect of the company’s operation, including updating the company’s antiquated warehouse system.
One of the intriguing things Meyer did was establish a president’s award of $1,000, given quarterly to an employee who recommended the best “change” idea that helped the bottom line.
Here’s one example of how that program has reduced costs: An employee who questioned the soaring cost of trash pickups learned that neighboring businesses were using the company’s trash bin. By simply moving the container to another location, the company slashed its trash costs by $25,000.
Read the entire story to see how Meyer has turned around this Miami-based company.
It pays to listen to your employees
May 5, 2008
When Cory Meyer took over as president and CEO of Catalina Lighting in 2006, he realized he had to change the company’s business model to drive profits at the struggling company. Catalina Lighting, a designer, manufacturer and distributor, had experienced back-to-back years of losses and the company needed to change. He also realized he had to get his employees involved in examining the operating inefficiencies within Catalina Lighting. How he changed the corporate culture and the direction of this company is the subject of a cover story in Smart Business magazine this month. The article details how Meyer has successfully turned the company around by communicating more effectively with his employees, reducing costs and inefficiencies and examining every aspect of the company’s operation, including updating the company’s antiquated warehouse system.
One of the intriguing things Meyer did was establish a president’s award of $1,000, given quarterly to an employee who recommended the best “change” idea that helped the bottom line.
Here’s one example of how that program has reduced costs: An employee who questioned the soaring cost of trash pickups learned that neighboring businesses were using the company’s trash bin. By simply moving the container to another location, the company slashed its trash costs by $25,000.
Read the entire story to see how Meyer has turned around this Miami-based company.
Posted by Jack Keough on May 5, 2008 | Comments (0)
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