Best Practice: Gore and Associates
As Gore says themselves: „we have more than 10,000 employees, called associates.“
This, at a first glance, small difference in wording originates from the concept of a latice organizational culture and is in fact having a major impact on the corporate culture and performance of Gore. Every employee at Gore is indeed sharing in the corporate success via the ownership of stocks. A central element, the so-called Associate Stock Ownership Plan, allows the associates to do so. This gives Gore and its associates multiple benefits, among which:
- Opportunities to build up financial security for retirement.
- Improving performance by giving the employees the feeling of being a co-owner of the company that they work for.
It is not without reason that Gore becomes well ranked in various overviews for best companies to work for. Even better, this does not only hold for the US based facilities, but also for most of their worldwide facilities.
The employee share ownership plan is a key facilitator for such a high valued culture and history.
About W. L. Gore and Associates:
W. L. Gore & Associates, Inc. (founded: 1985) is an American manufacturing company specializing in products derived from fluoropolymers. It is a privately held corporation headquartered in Newark, Delaware. It is best known as the developer of waterproof, breathable Gore-Tex fabrics. Employee base: 10,197; Global revenue: $3.2 Billion. (source:Wikipedia/Gore)
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