Business View Magazine - July 2024

rather than mere transactions. This relationship- centric ethos extends beyond the customer base and permeates the company’s internal structure, shaping how leadership interacts with employees and how employees engage with their roles. CEO Hockenberger reflects on the shift in transparency that accompanied the transition to an employee-owned model.“Years ago, before becoming employee-owned, transparency was not a thing. You don’t want to go to your employees, suppliers, or customers and say, cash is tight.”This era of openness has transformed how the company communicates internally and externally. Parman Holdings ensures a mutual understanding that encourages cooperation and problem-solving by sharing pertinent economic challenges and encouraging customer honesty. The ESOPmodel brings numerous employee benefits, extending beyond financial gains. “The biggest compliment for us is to look at drivers or technicians who have been with us for years and know that we’ve set aside this amount of cash every year based on our performance,” says Hockenberger. This wealth creation tool is designed to support employees well into retirement, providing a tangible reward for their hard work and dedication. It’s a holistic approach that offers a paycheck and promises long-term financial security and legacy-building opportunities. Hockenberger elaborates on the broader benefits of the ESOP model, particularly the sense of autonomy and ownership it instills in employees. “You see ownership come to life when people act like an owner. They take the lead, investigate situations, and bring solutions.” This culture of ownership promotes proactive behavior and a deep sense of responsibility, significantly enhancing the overall working environment. Central to Parman Holdings’ success is the company’s focus on cultivating a positive company culture. “A major priority for us is culture and ensuring that employees, especially newer ones who are not yet vested, come into the office daily with the right mindset,” Hockenberger notes. They have replaced the traditional review process with a coaching culture, promoting continuous development and clear communication of objectives and goals. This 102 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07