Business View Magazine - July 2024

supportive atmosphere encourages employees to grow, make decisions, and feel empowered in their roles, making it a place where people want to work rather than just a place they have to be. CREATING A CULTURE OF OWNERSHIP At Parman Holdings,the hiring process is meticulously designed to ensure that every candidate is evaluated with the same rigor and importance, aligning with the company’s employee-owned philosophy. CEO Hockenberger attributes this robust system to their Chief Human Resource Officer, Julie Pomeroy, and her team. “They implemented a rigorous process on hiring, making sure that we were vetting all candidates through the same process,” she explains. This approach treats every potential hire as a future owner, emphasizing the significance of their role from the outset. Nevertheless, Hockenberger acknowledges the challenge of communicating the long-term benefits of employee ownership to younger recruits whomight not prioritize retirement savings. “We do encounter a lot of younger individuals whose main focus may not be that wealth generation tool because they’re thinking of the dollars and cents they’ll bring home on Friday,” she notes. However, Pomeroy’s team effectively conveys the value of the ESOP model, highlighting how employees can be fully vested within six years. This initial conversation helps new hires understand the financial benefits and the cultural advantages of being part of a team that takes pride in their work. When discussing the broader advantages of the ESOP model, Hockenberger points to the importance of long-term planning.“A big advantage is carrying the legacy story forward,” she asserts. This is particularly relevant for multi-generational businesses without 103 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 PARMAN HOLDINGS