Episode Transcript
Hello my friends. This is Brett Keesling of the EO Podcast Network and host of the ESOP podcast. This episode of the Owner to Owner podcast with Jesse Tyler is the first of three parts where Jesse is called upon his colleagues at Hypertherm to look at a specific aspect of employee ownership. Usually Jesse's guests work at company facilities where they're surrounded by many other employee owners. But Jesse was curious how the road warriors often in sales and distribution represent and reflect employee ownership when they're traveling away from their colleagues and fellow employee owners for large periods of time. The owner to Owner podcast talks to employee owners where they find them, and sometimes the audio is not quite the quality we'd prefer. In the first minute or so of this episode, you'll notice the audio's a little bit. But the problem resolves quickly, and I hope you'll agree that the authenticity of the recording reflects the experiences of Jesse's guests. Enjoy the episode. Welcome to The Owner to Owner podcast with your host, Jesse Tyler, part of the EO Podcast Network. Welcome to the Owner to Owner podcast for the EO Podcast Network. It's great to have you with us. I'm your host, Jesse Tyler. The goal of the podcast is to have owner to owner discussions about a range of ownership experiences and culture topics to bring more insight into the individual. Owner experience and to amplify employee ownership? Well, I often speak and to and feature, rank and file workers. The goal of this three part series is to bring more insights into the experience of sales and marketing at Hypertherm, a global leader and plasma software and water jet cutting. So these are the faces of the company often in remote and global locations, far from the company headquarters in New Hampshire. And we wanna learn from them. Hear from owners who do not see their coworkers necessarily daily, weekly, or even monthly. What does ownership mean to them? How does it impact their work and experience? So we're here to hear their unique insights from a regional and global perspective. So I want to kick us off with a little bit of getting to know the crew. So Jared, I'd love to have you convey your name, what you do, and your tenure. Share a little bit for a listener so they can all get to know Jared, Kelsey, and Mike from Hypotherm Associates. Kick us off Jared. Yeah. No, I appreciate that, Jesse. So my name is Jared Rich. I'm a distribution sales manager for Hypertherm. I am based in out of Denver, Colorado. Technically I cover Wyoming and Colorado. Also little slivers of South Dakota and Nebraska and my territory. now, distribution Sales Manager, that's the title. But really I manage our distribution within Covered area, really developing relationship, pushing sales, making sure everybody is trained up on our latest products and latest offerings. You know, and that's kind of in a nutshell, what we do on a day-to-day basis. But on top of that, one of my. One of the things that I like to do the most is going in, going into manufacturers, going into end users, doing trainings with end users, stuff like that. That kind of gets my, gets my feathers a little bit ruffled. So, you know, it's one of those things that keeps me on my toes and I really like, I really enjoy doing stuff like that. I've been at Hypertherm, just shock, just a couple months, shy of four years now. Which seems like it's gone by in a blink. I don't know where the four years went, but previous to Hypertherm, I was working for a company in Nebraska. I worked with a lot of independent and also commercial ag construction and truck and trailer dealerships to help them move their new and used equipment. So Hypertherm has that really kind of brought me full circle. Previously I was kind of on the front lines of things and now I'm on the back end of seeing how things are manufactured. So, you know, that's a little bit about my background and kind of what I've done with Hypertherm so far and what I did previously. Awesome. Great intro set a set a nice space for Kelsey to follow up. Kelsey, could you introduce yourself and share a little bit? Sure. I am Kelsey ar Shambo. I am, his name is Jared dsm, distribution sales manager for Hypotherm. I live in Vancouver, well just outside of Vancouver, Canada. So I am the only Canadian on this call. You're welcome. But yes, so that's where I am based out of. Prior to being with Hypotherm, I worked for an OEM machine manufacturer and dealt with plasma water jet route. CNC knife cutting machines, digital systems, all CNC cutting equipment. And I actually sold Hypotherm products through that O E EM dealer. So consumables obviously down to the systems, the machines themselves, but also all the consumable products, upgrades, torches, replacement parts, maintenance, all that kind of stuff. I dealt with through the O E OEM that I worked for. That OEM was based outta Dallas, Texas, but I ran Western Canada for them and. obviously dealt with Hypotherm equipment for the 13 years that I was with them, and then I was lucky enough to get the opportunity to come and work here for Hypotherm directly. Something that I always wanted to do. I was always bugging Vince Tucker, our distribution sales manager in a different part of Canada for his job. So that paid off for me and now I am here working for you all and being part of the ownership. Like Jared said, our role is very supportive to our distribution channel partners, so we're working with them, we're making sure they're trained up, we're making sure that we are teaching them everything that we've got going on over here, and then obviously with our end users as well. We are heavily involved with their processes. I agree with Jared. I love going into different shops and plants and getting to see what they're building, see what they're doing, see how they're using our equipment, and then also see how they're using other equipment that we could replace with our equipment. So I definitely take that opportunity to get in there and, and show our distribution channel partners that stuff too, because not always are they looking for. New opportunities or new ways to help innovate with their customers. So that's what I like to do, and go in there and see what we can offer them and get them rolling along with new products and that sort of thing out in the field. Very nice what we do. Thanks, Mike. Tracy. Yeah. Thank you for having me, Jesse. Uh, my name is Mike Tracy. I'm a senior distribution sales manager at Hypotherm, as well as being an account manager. I've been with the company for 34 and a half years. I'm just sitting here at Pardon? That's. So what did I do before Hypotherm? I, I don't, I don't remember. High School. Yeah. I spent a little bit of time at college and wasn't sure what I was doing with that. And I entered into the workforce and after a year of not amounting too much in other. Jobs. I ended up in Hypotherm and I've, I've had very good fortune of having a variety of roles over the years here. I started on the production floor and eventually was able to move into marketing, and then I was, uh, moved into training and I got the opportunity to, to travel the, the country and in a lot of the world to teach people about hypotherm products. And that's when my. My love affair with this company really hit full stride. I realized the, the type of product respect that our equipment has in the field, and I got to know our, our channel partners as well as our end user customers, and just, just became more and more passionate about what we're doing out there. Eventually I had the opportunity to become a, a salesperson. Uh, District manager, as we used to call them, and that's just morphed into more and more experiences with our partner, with our channel partners, and with our end users. And it's just been a, a great ride and it's nowhere near over for me. Awesome. Appreciate the intros and the insights. So I wanna jump right into ownership. And I wanna ask you first is, is it the same working at an employee-owned company? As other companies, and if it's different, what's different about working at an employee-owned company versus your prior employers? Jared, if you wanna start us off. Yeah, actually I can attest that it is very different. You know, I've had, I've had a pretty good career so far, but obviously jumping on board with Hypertherm has been one of the best decisions that I've made for my career personally and professionally. You know, previously, uh, with my previous job, Or previous life before Hypertherm, you know, it was one of those jobs to where, you know, I was motivated by money and I was in the sale and I was in a sales role and you know, and that's basically all it was. I kind of equate it to, you know, imagine you're in third grade and it's the last day of school and it's a minute left before summer, and that's how every day seemed like it was how I wanted to get out. Every day when, when my time was done, I was out, I was done, wasn't thinking about it anymore. I didn't want to think about it. It was stressful to a point where, you know, it's just not something that you wanted to be doing all the time. Now, what's interesting about working with Hypertherm and being part of an ESOP company and having an ownership company in that regard, it's just a different mindset. You know, it's one of those things that it's in the back of my. It, it, it drives a lot of my decisions when I'm out on the road. You know, it's one of those things that I like to talk about now. You know, I, I have no problem when I've talked with friends and family, just explaining to them if they don't know what an ESOP company is, I, I, I love going about it and telling them kind of what it's like versus where in the past it was just, Hey, I did my, I did my eight hours. you know, so it's one of those things where, you know, it's a lot, it's a lot better mentally and also just it's a lot more fruitful when I am working, you know, dur during work hours here, because I'm more motivated. So it was, it, it was a big change on my end. So, and it was a big change that it was very appreciated and I, you know, Count my lucky chickens every day. Nice. Nice. Thanks. Jared. Kelsey working for esop, employee-owned versus not. What are your insights experience? My insight is I am the kind of person that works all the time. I would. lose sleep over customers being down or waiting for parts or things like that. I am the kind of person that's go, go, go. I really like to hustle all day, every day. So working for a company that is owned by us actually gives me the motivation and also the backend support that fits with how hard I wanna work. So I like to hustle all the time. The fact that we own this company makes it all worth it. When I hustle, hustle, hustle for a company that I don't own and that it isn't a part of, You know, longevity in the long term of my life, it is not as beneficial both ways, you know, you're hustling so hard, you're working so hard for a company that really probably doesn't give as much concern to you as you do them. And now I find it's complete transition with Hypotherm and I am proud just like Jared to talk about it all the time and to say different things that our company provides to us because we own it. Because it's for us and it does, you know. Motivate me to grow this business on a different level than it would for just a everyday job that you're going and you're getting a paycheck. Now. It is our bottom line. It's our future. It's our, you know, representing what matters the most to us and what, as a whole company we want to portray out there. You know, you're representing something that is really you, you and everybody else on our whole company team, so it's. Great transition to be supported as much as I wanna support them. And we're all just one big giant family now and I think that's awesome. That's great and I appreciate that with the mention with the support, cuz when our, I've been running our onboarding for years and one of the things I say on the first day is, you know, before you share any information, any company emails, I want you to picture all 1900 of us standing behind you. Smiling that you're making a good choice. But then in cultural immersion I talk about, you know, when we have people, our district sales managers, account manager, those others, they need to be out there as the face for all of us and know that we've got their back sort of. So I hope, I sense that image that you feel the 1900 plus kind of ready to support maybe and and help in a different way. Mike, I'll amend it slightly for you because of your, to honor your 34 years, and that's a long time to look back, just sort of more generally when you. your sense of in the market and the work that you do, you, you have very strong relationships with some of our partners and customers. What's your perspective on the difference of working, esop, working, employee-owned versus, versus not? What, what are your insights you can share for our listeners? Well, yeah. I thank, thank you for the amendment. My perspective is a little bit different, but I totally, I'd, I'd love listening to, to Kelsey and Jared talk about their experiences because they just recently. Four years, you know, and, and less outside the doors and working at a place where we didn't have this type of culture. I always get reinvigorated when I hear people talk about how exciting they are to be here, because I still feel that way. But it's great to interact with people that work. And environments that aren't like this. I have a lot of friends, obviously, in all walks of life that are in varying levels of satisfaction with their company, with their careers, and, uh, we've, we've got something really special here as, as far as an ownership culture. What's it like to work someplace like that? It's kind of like, if you've ever been to a a, a. A fast food restaurant or something, or maybe not a fast food restaurant, but someplace where somebody's making distinct about having a problem with something and suddenly either the manager or ideally the owner comes running out from the back and you have the look of concern on their face. They wanna make sure that this problem, yeah, that's how all 900 of us should feel and I think do feel to, to any interaction we're having, whether it's with a, an end user or a channel partner and so on. And it's just the, the drive to try to make. Situation as smooth as it can possibly be. I think that's, that's what's unique about what we're doing here. Yeah, that's great. That's great. There was a hotel, I remember growing up being amazed there's some hotel chain that every employee had the power to make the customer experience better. And I sort of think about that after almost 16 years of hypotherm and where, where you know, you can, I described this when hosting visitors, I was hosting channel partners in a marketing role and they said, what do. send a couple days together. What do you like working here? What do you like so much about it? I said, I, you can walk up to anybody and ask for help, and they'll smile and they'll give you a hand. And that might sound a little corny to folks that I've had really negative employment experiences, but I'm hearing some of that from the three of you and that brings that, that memory back. So, Mike, to start the next question with you, you sort of, you sort of open the door for it. Does being an owner. The way you work, does it change how you work? So to be fair to you, Jared and Kelsey both mentioned that it's, it's more motivating. So I'm just gonna do a throw down that we've had associates over the years. Say I've, I'm, I work harder, every job I've ever had. I don't work harder because I'm an owner. And we've had other people say, I work a lot harder because I'm an owner and this is a community and we're gonna do this. So I'm just, there's no wrong answers. But for you, does. Impact how you work and how so being an. Yeah, I think it. And do you work harder? I mean, I think a lot of us have probably worked hard right along because of the, the carrot that's always been danged out there through the generosity of the couches of profit sharing. So the harder we work during the year, the more successful the company is during the year than we got something nice to look forward to at the end, if everything goes well. Now, regardless of the status of how we are in the moment, it's the long term. So we're all owners and. Just, it's so much more than a tagline. I wanna make sure when somebody gets me by accident on the phone, I don't just, you know, so way you really gotta call this person. Or you don't just transfer. Yeah. You wanna make sure that they're actually getting what they need and going where they need to go, and then circle back around and touch 'em again. Hey, did you get what you needed? People are floored with the follow through. It's the follow through. That really what leads us, where we're, where we're headed with all. Awesome. Thank you. Kelsey. Does being an owner impact the way you work and and how so? I actually forgot in the beginning to mention how long I've been with this company, so I'm gonna use that right now. So I started with this company in April of last year, and in just this short amount of time, it does impact how I do my day to. Obviously, like I said, I like to work hard. I like to always be, you know, going for the next, you know, solving the next problem, helping the next person, getting onto the next task, and being an owner of the company definitely plays into that because I want everyone here to be successful. I want our name to stay as good as it is. Like we are walking into a shop and saying that I'm from hypothe. They're excited to see us and I'm excited to see them. And I want everyone who works for this company to feel that way. And I want our name to stay as solid and awesome as it is out in the field. So I work hard to make that happen, and I want to do more because we own this company. So you want to see that longevity. You wanna see that prosper until way beyond my 34 plus years that I plan to have here. You do it Nice. Jared for you, what are your thoughts? Yeah, definitely. You know, the, the old saying all for one and one for all it, it goes big time here at Hypertherm Whereas, whereas, you know, before my previous company, it was all for me and me, for me type type thing, because basically there wasn't really a sense of teamwork, you know, and that just might have been my experience. But here at Hypertherm it seems like the collaboration, the teamwork is an important aspect of the way that we. and the way that we're successful. And I think that being an owner helps you have that mindset. And so that's one of the things that you know was very apparent when I first started working with Hypertherm. And one of the things that I love, Today. Awesome. Thank you. We're gonna ask you the big question. So this can be a couple keywords. This can be a story, just some general feelings. Mike, we'll start with you. What does ownership mean to you? What does it mean To me, it means a sense of responsibility that, that we've got a fantastic thing going. I don't wanna drop the ball to be the most succinct when I'm out in the world, to all the people that are my, my channel partners that I have the, the primary responsible ability for, I'm hypothe. And so they think of whether they have a service issue or a sh a shipment problem, or they have a pricing question or applications, whatever they're thinking about calling me so I can help them with their hypotherm situation. And I love that. I cherish it, and I don't want that to ever change. On the other hand, if I show up at a meeting at a channel partner and I have Kelsey and Jared with me, I want them to know that these are my brothers and sisters and we're all thinking the same way. And if you can't get. You can reach any one of my 1900 member family and you're gonna get the same treatment. That's great. That's great. Kelsey, what does ownership mean to you? Accountability, I would say that would be my top word to choose for ownership. So we're accountable for what we present out there. So what we produce, what we, you know, are r and d. Everything from the, you know, processing of orders, all that stuff. We are accountable for everything that's happening because we are owners and we are all account. For what we look like out there than how we handle ourselves. So that is what I would say ownership means to me, just being accountable for everything that we do. That's great. And so you're gonna have your one year anniversary in April. So you, what are we doing? We're having your, yeah, you're having your ownership year with the, for our listeners, the Hypotherm has a, has a familiar plan where you. You start your ownership journey and your first day, and you, you are serving for a year and then you are earning your share. So congratulations. I'll p you in April. I have proven myself here and we're gonna keep going. Yes, yes, you do not, you do not work and present yourself as if you just started last April, which is totally awesome. Jared, what does ownership mean to you? Ownership. Working in Hypotherm is commitment to me. Honestly. It's one of those things that, you know, sometimes that you miss commitment, fulfillment. It, it gives me something to really push for and know that I'm gonna be here for the long haul, you know, maybe 35 years, one time at one point, but just, just to beat Mike over there. But you know, you know, it's something that, it really, you feel that you are committed to something important because you are an owner of the company and. you know, it's, it's exciting. It's one of those things that it's nice to, it's nice that finally you can actually say, yeah, I'm, I'm an owner of something that's very important, something that's dear and that I've bought in, bought all in. So it's, a lot of it is just, for me, it's a commitment. That's great. That's great. Yeah. And these are the insights. We wanna amplify ownership and so owners can hear. Themselves and you, you hear their, you know, peers out in the sales wor world can hear that from other ESOPs or potentially ESOPs. But also a goal of the podcast is for folks that are considering selling their company, their employees. You know, shoot your stories, your voices remind them of their employees and it helps them swing over to, yeah, I really should do this. This is an amazing thing to do. So you mentioned, you know, the long-term gain and it is a long-term game, but it's a very different work experience. If in the daily experience you feel respected, you feel cared. And you have an elevated sense of job security and, and being valued. So I appreciate the conversation in what you're sharing. So I wanna go at a specific question to this three part series, pattern manufacturing facilities. I was in a building today with probably 400 people. We, there's a lot of seeing each other. There's a lot of pictures in social media, LinkedIn about play, own companies and groups and settings and the work you do, you're not often at corporate, you're not often at. the mothership. Uh, some still call it from the old days. So I'd love to get your insight on what ownership feels like when you're often. That sole face of the brand, the sole face of the company, and not in physical proximity to a lot of your peers. Is that something you're game for Mike to kind share? Like, can you, can you kind of tell that story of being sort of, I dunno if it's appropriate to say, but sort of the lone wolf looking back at the pack. You know what, what's something that you can share from that perspective of being an owner, but often being on the road, being away from your own family, let alone the Hypertherm. Yeah, I'd be happy to share. The first half of my tenure here I was in the factory. I was in the building. I traveled a, a little bit, you know, for, for various roles, but at the end of the day, I spent more time at the factory than I did out of the factory. Suddenly, I'm, I find myself in the, in the distribution sales manager job, and I am the lone wolf. Like you talk about, you're, you're waking up every day thinking, I, I'm the only guy out here. You know, I'm, I'm my own company and I'm going in to see these people, but then you realize that, as you said so eloquently, there's 900 people standing behind me when I walk through the door at that little store in Geneva, New York. I wanna make sure that I'm representing the rest of us as the the best I possibly can, and that gets my juices. Uh, that's, that's great. That's what keeps me moving forward is knowing that there's all these people back there doing their best to build machines and get 'em in the boxes and make sure everything is done the best that they can. And if Jared and Kelsey and Mike aren't getting it done out in the field, that's a lot of responsibility. Yeah. Thank you. Appreciate it. Kelsey, your viewpoint and your coming up on a year of being the face and brand for your area near Vancouver and being a alone out there as an owner of a large esop, what are your thoughts? What are your insights? I don't think I ever really feel alone. I think that we do create a really, you know, a solid team. We have like our west. Distribution sales manager team, we all have, you know, group chats and we talk regularly, bounce ideas off of each other, go through things like that. So that's always very supportive. And then obviously all of our departments, you know, the customer service team, the inside sales, the shipping, everyone in tech support, like we do all communicate quite a bit. So you're definitely not out there alone, like, Mike said, for sure we've got the 1900 people behind us, and because we do build an awesome product, we know that we're going out there with something great and you're not running around trying to convince people that you have an awesome thing in your back pocket to show them. So I just. Yeah, because we have a good product because all of our different teams have a really good dynamic and then all together we have really good communication too. So it makes you feel together even though we're apart. And even when I first started with the company, like the fir, as soon as I was got hired, I had people calling me from all over the country, Canada, us, like introducing themselves to me and welcoming me. I never. Half the people in my old company that I worked for for 13 years talk to me ever. So it was definitely a nice feeling and it was very welcoming when I first started. And then it's continued to be since I've been here, I feel. Like, I've worked here a hundred years, so I don't feel alone ever because we own it together. Nice. Nice. Jared, what are your thoughts on that? Yeah, you know, there's been several nights where I'm, you know, it might be six, seven o'clock at night where I'm driving in the middle of nowhere in Ohio, and there's three guarantees in, uh, not Ohio, Wyoming, sorry. Three guarantees of Wyoming death, taxes, and. So that wind's gonna try to push you off the road, but you know, just keep a steady hand on the steering wheel when I'm good. But, you know, it can get a little lonely out there just driving at night at times. But, you know, I, I feel a sense of pride whenever I look at, you know, the territory that I manage. I feel like it's my own territory. It's my business. I'm an owner. But at the, the same time, like Kelsey and Mike said, I have 1900 people that are right there with me. So, you know, getting to your hotel at 6, 7, 8 o'clock at night, it really doesn't bother me that much, even though. you know, a lot of people are done at four o'clock or whatever it may be, but you know, we're willing to kind of go that extra mile just to, you know, cuz we gotta fulfill our day the next day. And so it's, it's one of those feelings that, it's kind of a sense of pride on my end. So working remotely, knowing that I'm helping everybody at the manufacturing facility, that I'm helping them, but also they're helping me in the same way. So it's one of those things. I don't mind going the extra mile, especially in Wyoming, and there's a lot of miles in Wyoming. Thanks for that. Well, again, representing, kind of building on, you're representing the brand, being the face for, for the rest of us, can you share some insights for folks in our facilities or manufacturing facilities about how you talk about ownership to your customers and partners? It might be different for friends, it might be different for families, but I'd love to maybe, Jared, you could start us off with this. how do you talk about ownership? Oh, first, does it come up or do you bring it up and if so, how do you talk about it with a channel partner or customer? Yeah. You know, a lot of, a lot of my conversations about Hypertherm being an ESOP company have come over lunch when I'm taken to some, some of my distributors or my sales. Salespeople out to lunch. You know, they'll, whenever you're talking with somebody over lunch, they, they like to kind of let loose a little bit and they're just like, they'll let you know on some of their things that they gotta go through that they don't really typically enjoy about where they're working or whatever. And I tell them, I said, well, hey, you know, this is how it is at Hypertherm. You know, we kind of have this ownership mindset. With it being an ES ESOP company, and it really kind of gives you a sense of, again, I keep harping on it, but a sense of pride in what you're doing. And you know, they kind of take a step back and they're just like, man, are there a lot of companies like that? I was like, there's probably more out there than you think, but it's one of those things that, you know, whenever I'm talking with a lot of my sales guys, they don't even know about it. So, which to me, Coming into hyperthermia. I had no idea what an ESOP company was, so it's not You know, as some, you know, Mike is, you know, he is been here 34 years, that's all he knows, but for a lot of people out there, it's something brand new. And so I, I enjoy talking about it with a lot of guys out there. That's great. That's great. Yeah. A lot of people coming in. Spent about 20 hours with onboarding intensive, at least 1500 of our last hires over the years. So I've got a pretty good pulse on people coming in, and I'm amazed at how low on the list employee ownership is mentioned, you know, and through Covid, absolutely. The number one on the list, and this isn't just entry level positions, this is some. Couple very high level positions. People talked very openly about layoffs. They never saw it coming. When things changed during Covid, they got called in the office one day and the life they were familiar with was gone. And even with that, they don't talk about the money impact, they talked about the identity, sense of place, sense of connection, being valued. So it's, it's really interesting to kind of hear, hear some of those insights. And how you share, Kelsey, back to you. For what, what are your, your insights around that with how you talk about your new ownership journey with customers and partners? I didn't know this existed before, so I certainly had no idea. Thank you, Kelsey. That yes, like I didn't know this was happening. I didn't know employees owned companies. And I know it's a thing like obviously I've heard of like profit sharing and that sort of thing where you're obviously. You know, some sort of profit sharing agreement with the company that you work for, that sort of thing. Sure. But this is a completely different ballgame. Like we are very heavily involved in, you know, decisions or different programs or growth plans or different things that you guys do really involve. It involves all of us and I've never experienced that before. So definitely a pride situation. And I mean anyone, pretty much everyone who I meet with or talk to, They would all love the opportunity to work at Hypertherm or an employee-owned company. That's pretty much the consensus on the road, and like Jared said at lunches and stuff, where you kind of get to talking about, you know, how they came into their position and their company and. The different things that they're going through at their company. And then obviously I can just sit there with a smile on my face cuz everything's perfect over here. But it is a completely different platform because we do have a lot more involvement in the day-to-day. And yes, we're out there presenting and representing our company as the face of the company out with our customers and channel partners. But the, you know, the aspect of owning this company, Being the face of it is, it's a really hand in hand kind of feeling like it's a really like supported feeling. So I would definitely recommend it to anybody who is getting the opportunity to work for an ESOP company cuz it is definitely a game changer for sure. And we are hiring. Appreciate that. Yes. And we are hiring. We'll finish with that. You can, we can finish the conversation with you doing a little recruiting for us over, yeah. Yes. Perfect. Kelsey Canada's doing some nice work with expanding employee ownership so. Where ESOP is unique to the US tax code, Canada is doing some nice, having some nice progress on, on their form of the employee ownership. So for our associates around the world. Mm-hmm. Hypertherm was an early, I think an early leader in, in the employee ownership world, where we created the global stock value program, which has an equal share value. So we've had our finance. And Jane Moss and others that run the plan have helped other ESOPs with insights into the global stock value program because as their companies grow, they wanna do what Hypertherm is doing and include everybody equally. And so, you know, we'll through this series, we'll talk to your. Long distance peers in Great Britain and India and other places, and they're all being included equally, which, you know, if you grow, kind of grow up at Hypertherm, you think that's how ESOP's role. But it's something that with my advocacy for employee ownership, associate ownership I think is really awesome. The Hypertherm is done. From years back because we set a standard that others and will teach it too. Associates around the globe can, can, can participate in an equal way. Mike, for you, what are you, what are your thoughts with how you talk about ownership with customers and partners? Well, of course and partners, when the conversation comes up. Years ago it was more common that it would come up with, uh, who owns Hypotherm anyway. I've never. You know, they're shopping for a piece of equipment and they're thinking it's gotta be red or blue or, or, uh, depending on what, what type of product they're, they're looking at, well, who owns Hypothe Thumb? And I would say, you know, kind of tongue in cheek, but I'd say I do. Well, yeah, but what, what? Well, we're, we're employee owned, so Yeah. You're, you're talking to the owner right now, You step, you step into a meeting or, or whatever, and I, you know, treat it kind of playfully, but it, it initiates a conversation. I, I have a, a unique perspective of, of those on the call that I was standing in the cafeteria that day. They unfurled the banner that said, Hypotherm an associate owned company. And everybody's, you know, we're, we knew it must. Dick was there giving us the announcement. Dick Couch, the founder of our company, and uh, we knew it must be good, but there was a lot of like, what's that really mean? And at the time they, they had rolled out 30% of the company was, was now gonna be employee owned. And people were like, wow, what, what's that really mean? And as the education took hold and eventually we went to a hundred percent, you can bet everybody understands what it means. And as you watch some of the long-term people check out and ride off into the sunset, across the wilds of Wyoming, I suspect Yeah. There's a lot of big wilds and, and very happy people. And we all look forward to someday getting our, our crack at that. But yeah, what does it mean when I'm talking to the outside world? I own it. This is my hypotherm that. Yeah. And I appreciate your, your calling out a little bit. The, the early start that Dicken Barber couch, our founders started with the 30%. I was there at Hypertherm when we made the leap up to a hundred percent. And my impression was that it was a bigger leap to go to a hundred percent than it was to go from zero to 30. And so it's just kind of interesting to look at. So to, to pick up on your thoughts, Mike, what's your advice for somebody? New to ownership. So this could be a a, a coworker. We have eight talented people starting on Monday. So let's pretend, you know, you're, you're in the room during onboarding and you're gonna say, what would you, what's your advice? What would you say to somebody on their first day about ownership? Wisdom of Mike and then we'll work our way around the horn Wisdom. Please tell me, let's say, let's say you're out to dinner by yourself. If, if you're paying for it yourself, are you really gonna get the lobster tail with your steak? Because when you're out for dinner and you're work, it's a working environment, you're an owner. And so every dollar we don't spend is a dollar that goes to the bottom line as our friend, Mr. Evan Smith would like to say. So you, you think about things like, You wake up in the morning and you don't really feel like getting it done. You gotta work like an owner and think like a customer, what can you do today that's gonna impact cuz your 1900 friends are all waiting to make sure that we're gonna get the right thing done. That's, that's awesome. Thank you. Kelsey, after, well roughly 10 months, let's say you helped out with onboarding on Monday with our new eight coworkers that are coming on. What, what would you say, I'm leaving a wide open on purpose. What would you, what would you say to them about ownership or advice or anything? What would you say on day? I would say, I mean, Mike said it really well. I do think about that all the time. We travel all the time. I'm away from my house probably 60, 70% of the time, and so I live in hotels and on the road and, and yes, I definitely take that into consideration. All the money that we spend out there and everything that we do. 1900 other people. So thinking like in a dire family, an entire group, we are here to look out for each other and protect our assets. And I, I think that would be, I don't know what my advice would be, spend less money so we get more at the end. That's great. Sorry. No, that's great. Well, you're, your term may mind me of meeting somebody at a, uh, NCO conference or kind of joking around where maybe a little bit of the tone of what Jared said. It's the difference of working at an employee owned. It was something to the effect of, instead of protect my assets, protect our assets. And I thought I heard a little bit of that in there. You go in in the difference. Jared. Jared, what about for you? So new owners, new associates to come to Hypertherm. Really what I would say is buy in, adopt a mindset. You know, you kind of mentioned it briefly, Jesse, but it is, it's, it's one of those things that we can work knowing that we can go through lean years. Cuz you know, Hypertherm has a no layoff policy really. And if you're an owner, You're not gonna fire yourself. So really you can work with that mindset of knowing that you're, we could go through some lean years, we could go through, God forbid, hopefully we don't go in through any more covid stuff. But, you know, we went through a covid situation, we went through a pandemic, we went through times when our backlog was back to six months on certain things. So, you know, and going through that, you can work at Hypertherm without the threat of, oh crap, am I gonna have a job? you know, so, and that that is very freeing in the sense that you can do your job not having to worry about that one thing. So that's one less thing to worry about. And just buy into that ownership mindset and you'll be set. That's great. Thank you. All right, so I got two more questions for you. This is sort of a narrow question. If you can do it in three words, that's great. Most guests can't. Can you give me three words in this moment, Mike, that you would use to describe owner? Three words that come to mind. Respons. Commitment and pride. Nice. Kelsey? Oh, no. Accountability, respect, and honorable. Nice. I'm going with that. We'll take it. You're, you're, you're pitching or catching? Jared, what about for you? I had mine written out and Mike took two of mine though already, but, so I'm gonna just say 'em, but, commitment. Responsibility, and then fulfillment. Fulfillment. Nice. Nice. Yeah, it's fun because, You can't tell culture. It's the risk of excited employee owners at any esop, any, you know, employee-owned company is that you can have a lot of energy, you can have a lot of excitement. You can't tell somebody culture. They have to see it. They have to feel it, they have to trust it. But I think that the three word question, some folks have given feedback that that sort of helps to really, really boil it down and, and to have some things to use themselves for description. So I think your, your choices will be used by some of our listeners. So I'm gonna go back around the horn, starting with Jared. Sort of the last question for you. Why should somebody looking for a new role. Consider joining Hypotherm Associates and for fairness to you all, and our listeners know this, that I end every podcast with a blatant wide open, go ahead and promote your esop. So it just happens to be fun that I work at this one getting promoted, but genuinely from you. Why should somebody looking for a role join hyper? Honestly, if you're somebody that's working in an environment to where you don't have that fulfillment, you don't really feel like you have a purpose when you go to work. In other words, it's just, you know, you're looking out for yourself and you only, I've been in that situation and, which is fine. You can definitely. Be successful, but it comes to a time to where you just want more and where that, when you want that more, that's what Hypertherm can provide. You know, being an owner, having 1900 awesome. Other owners that you work with, having a different mindset with what you do with your career. It's. It gives you, or it gave me a little bit more purpose than what I was used to, and it's something that I love. That's why I would love anybody to come to Hypertherm if you're looking for just that little bit more. That's great. Kelsey, why should somebody join you? Okay, so I, well, I personally wanted to join this company because of the product we make. So I know that everybody is putting their brains together and. Engineer an amazing product and to continue growing that product line. So we keep innovating, we keep looking for the next best thing that we can get our hands on to make the best it can be. So that would be why Hypotherm specifically, but from the culture overall as the company, just the family aspect. We are 1900 people, but you could talk to someone you've never talked to ever before, and it feels like you've known them for 50 years too. So joining a team and joining a company, You know, right out the gate, I feel like I've been, you know, on the same family with all of these people for since the day I started. So it's really a great feeling where you feel really welcomed and you feel very supported. I'm assuming other ESOPs would probably be very similar, the mindset that you are all one team and you're all fighting for the greater good and the. You know, to represent the company properly and we are all doing the same goal. So Hypotherm specifically is a wonderful company to work for and I am very happy to be here. I love what we do and I love all the people I work with, so I would recommend it to anybody if they were willing to come on board. That's great. Thanks Kelsey. Mike. why should people join you at Hypotherm? I, I we're sensing after 34 years that you might like this place a little bit but if you just sort of speak to somebody, you know, looking for a job, heard about Hypotherm, heard about ESOPs, just, just, you know, as a few options, why should they pick Hypotherm? I would consider that they, they, if they wanna be a part of a team that feels like a family where there's 1900 people all pulling the rope to get this thing. Further and faster and up the hill, then this is where you wanna be. If you wanna be a solo act and be a maybe, I mean, we all feel like individual contributors and that's a, a noble thing, but you have to really embrace the team and family aspect of it. And if that's you, this is the place you wanna be. That's great. All right. We really appreciate the time and busy sales world for you to pause and share with you your, your coworkers back at the facilities and around the globe and with other employee owners. So again, this is Jesse Tyler for the Owner to Owner Podcast, which is done for the Yo Podcast Network. And Brett Ling's work. We encourage you to learn more. Employee ownership by employee-owned eat, employee-owned and work employee-owned. Thanks to all three of you. Really appreciate your time and take care. Thank you. Thank you. Thank you. Thanks, Jesse. Bye. We'd love to hear from you. You can find us on Facebook at EO Podcast Network and on Twitter at ESOP podcast. This podcast has been produced by Brett Kesling for the EO Podcast Network. Original music composed by Max Kesling, branding and Marketing by Bitsy Plus Design. And I'm Bitsy McCann.
