In December, 1994, Bill Carris presented his Long Term Plan, a document outlining his vision for the future of Carris Reels, Inc. and its affiliates. Excerpts from Bill’s summary follow:
- Our goal is to upgrade employees’ health, wealth, and happiness as a result of changing from a traditional, privately held company to an employee-owned and governed organization. Employees are the soul of our corporate community; they deserve to become legal owners.
- With the unification of ownership, everyone can be united toward the same goals.The ESOP (Employee Stock Ownership Plan) will be utilized to achieve employee ownership.
- The new organization should endorse a participatory management style.
Information will be shared at all levels of the corporate community to those who are interested.
- Every attempt will be made to provide opportunities for those who have had the least chance. Personal and spiritual growth will be valued and encouraged for all individuals. There is no organizational success without its individuals succeeding and growing.
- Profits will be shared at four levels:
- to distribute to employee-owners (our present profit-sharing plan);
- to reduce debt and provide security and stability of the company;
- to support growth and development of the company, and
- to improve the lot of mankind, particularly in our surrounding communities.
Today, Carris is becoming 100% employee-owned and governed. At present, it is 65% employee-owned. Carris is developing an unusual type of representative governance through employee-owners selecting the majority of the board members and ESOP trustees.
The company is serious but low key about serving its community, with a focus on the greater good for its employee-owners and their families, its customers, suppliers, and others within its sphere of operation. Every year, Carris sets aside 7.5% of its profits for gifting. The employee-owners are in charge of dispersing 65% of these funds—the portion being equal to the percentage of employee-ownership.
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