SPRINGFIELD REMANUFACTURING CORPORATION

SRC is a manufacturing company that has achieved unheard of levels of success based on their ability to foster an environment where employees act as owners.  The engine remanufacturing company was bought by a group of employees in 1983, and CEO Jack Stack along with his collection of owner/employees has grown the business by developing new ventures, many of which were spawned from company weaknesses or opportunities identified by the employees.   This company has grown from one company within $10,000 of being shut down to a collection of 23 small businesses boasting combined revenue of over $120 million today.

Their secret: share the good, the bad and the money.  They are famous for creating The Great Game of Business, a philosophy that emphasizes company-wide sharing of information and employee ownership.  In the manufacturing industry, this means letting the employees have access to income statements and balance sheets, and helping them understand what it means to them and the organization. 

Each year SRC defines a weakness (the one thing that keeps them up at night) and makes a company-wide game of improving it.  People have a significant portion of their compensation tied to this game and reaching the goal becomes a team-building process.  This portion of the employment package emphasizes short-term results, but employees at SRC also pay attention to how their decisions affect the future of the company.

"I feel like I'm an owner of the company," says Michael Suarez, an SRC employee, "primarily because we are.  We each have, in our own personal account, shares of SRC stock."

 SRC employees' stock is valued using a formula known and understood at all levels of the organization.  They are given the option of stock as bonuses and are allowed to trade, buy and sell within the organization.  If an employee decides to leave or retire, their stock is bought back by the company at its current value.

Measurement is a key business practice of these open-book management companies and scorecards showing financial health, progress towards goals, and critical numbers are displayed throughout the facility. SRC is known for being a company of choice within their community as well as the manufacturing industry.

"Tracking employee feedback has always been fundamental to the success of SRC, but it wasn't enough.   The Success Profiles Business Practices Appraisal is the best tool for comprehensively measuring what is happening in your company."

- Jack Stack, President, Springfield Remanufacturing Corporation

How can Success Profiles help make your company a "Profile of Success"? Why don't you ask us?

For more information on SRC and the Great Game of Business, go to www.greatgame.com

"Tracking employee feedback has always been fundamental to the success of SRC, but it wasn't enough.   The Success Profiles Business Practices Assessement is the best tool for comprehensively measuring what is happening in your company."
Jack Stack, President Springfield Remanufacturing Corporation