KANSAS CITY, Mo. (PRWEB) July 12, 2021
The Employee Ownership Expansion Network (EOX), a non-profit organization dedicated to expanding employee ownership in the United States through the establishment of a network of State Centers for Employee Ownership, has received a significant three year pledge of support from SRC Holdings Corporation and The Great Game of Business an employee-owned leader in custom remanufacturing, new assembly, supply chain management, and core and materials management. SRC is known worldwide for its open book management system, The Great Game of Business, which builds a culture of ownership through transparency, business & financial education and high employee participation and accountability. A fundamental principle of The Great Game of Business is to provide a stake in the outcome for all, and employee ownership provides the ultimate stake by sharing the wealth with those who create it. The funding by SRC/Great Game of Business will be used exclusively to support the Missouri Center for Employee Ownership (MOCEO) which provides resources and education to encourage other Missouri business owners to consider employee ownership.
According to data analysis completed by the non-profit organization Project Equity, there are more than 44,000 privately-owned businesses in Missouri owned by individuals over the age of fifty-five, employing nearly 500,000 workers receiving almost $17 billion in payroll. Many of these baby-boomer business owners plan to retire within the next 10 years, and more than half do not have a succession plan. As a result, many of these businesses could be sold and potentially leave Missouri or close their doors permanently, resulting in widespread job loss and community impact. Research shows that employee-owned companies often outperform their competitors, achieve greater productivity and benefit from a passionate, engaged workforce. Employee ownership also offers a valuable, flexible succession tool that enables owners to sell their businesses to their employees.
“The success of SRC Holdings would not be possible without our employee owners who take pride in their reputation as businesspeople who understand how to impact our bottom line,” said Jack Stack, Founder, President and CEO of SRC Holdings Corporation and author of a best-selling business strategy book on open management, The Great Game of Business. “Their role as employee-owners has helped our companies become leaders in our industries and we are passionate about embracing opportunities to educate other businesses on the rewarding benefits of shared ownership.”
“SRC Holdings exemplifies the benefits employee ownership offers. Its employee owners have built a remarkably successful business that has created thousands of quality jobs,” said Steve Storkan, EOX Executive Director. “We are extremely grateful for their investment in the MOCEO and their commitment to helping other Missouri businesses create employee ownership structures of their own. Their support of the MOCEO was a key piece of the funding needed to apply for the matching grant of $300,000 recently awarded to the MOCEO from the Ewing Marion Kauffman Foundation as part of its Central Standards funding program.
About SRC Holdings and The Great Game of Business
SRC Holdings Corporation is a 100% Employee-Owned Company employing over 1,600 people, with sales of over $615,000,000 located in Springfield, Missouri. While SRC’s chief business is remanufacturing, the company is best known for being the birthplace of open-book management through its Great Game of Business system. For nearly 40 years, The Great Game of Business has helped organizations and their people reach their highest potential and value through education and coaching services on best practices in employee engagement, open-book management and employee ownership. SRC Holdings Corporation operates 10 business units including joint ventures with Case New Holland and Navistar. SRC Holdings Corporation has received international recognition because of its success, including the Top 100 Companies to Work for in America, WorldBlu Most Democratic Workplaces, the National Business Ethics Award and the Business Enterprise Trust Award. Learn more at http://www.srcholdings.com and http://www.greatgame.com
About The Employee Ownership Expansion Network
The Employee Ownership Expansion Network is a 501(c)(3) non-profit organization founded in Philadelphia, PA in 2018. Its mission is to significantly expand employee ownership in the United States by establishing and supporting a network of independent non-profit Centers for Employee Ownership. EOX has provided funding and technical assistance to support the opening of seven state centers for employee ownership. The organization aims to help create one million new employee owners by 2025 by having at least 70 percent of the US population living in a state with a center for employee ownership. Learn more at http://www.eoxnetwork.org.