St. Cloud, Minn. (March 19, 2008) – Marco announced last Friday at its annual shareholders’ meeting that it distributed a record $2.3 million in stock benefits last year to 183 eligible employees. The employee-owned company’s strong profits in 2007 drove the average employee contribution to about $12,568.
Marco’s profits increased 37.2 percent in 2007 over the same period a year ago. Marco President Jeff Gau said the record contribution and solid profits reflect the commitment of Marco’s employees to the success of the company and willingness to go above and beyond. “They’re all owners,” Gau said. “They all have a stake in our success and that really motivates them to grow the company.”
Operating results, including full financial disclosure, are shared monthly with all employees. The annual shareholders’ meeting at Mulligans Events Center in Sartell drew the largest turnout to date with about 280 employees and their spouses attending to hear the total contribution and receive their certificate identifying their piece of the profit.
Marco employees have received $13 million in company stock since the company became employee-owned in 1989. Marco became 100 percent employee owned in 2001. Becoming an ESOP has helped Marco attract and retain long-term employees who understand their role in the company’s performance.
“Some of our employees made more money off the company stock last year than they did in their regular paychecks,” he said. “It’s hard to beat that.”
Marco received the Minnesota Work-Life Champion Award in 2006 and 2008, and was named ESOP Company of the Year in 2006. The company also has been named one of the Top 25 Best Small Companies to Work for in America by the Great Place to Work Institute®.
Marco, based in St. Cloud, provides expertise and technology to help organizations effectively manage their information. Marco specializes in data networking and security, converged voice applications, print and document management, video for training and meeting rooms, structured cabling and digital video surveillance solutions. Marco’s furniture division − Marco Workplace Interiors − provides a full line of office furnishings and design services. Marco has offices in St. Cloud, Bemidji, Brainerd, Detroit Lakes, Fargo/Moorhead, Grand Forks, Mankato, and St. Paul. |