Established in 1961, the family-owned company flourished and experienced significant growth in revenue, headcount, and the typical complications that come with consistent growth. Rather than selling the debt-free operation to new owners, Steve Petersen, one of the founders of Petersen Inc., established an employee stock ownership plan, which added a new dimension of dedication and creativity throughout the organization.
“Our purpose is to improve the lives of our customers, community, and our employee-owners and their families,” said company CEO, Mark Jenkins. Petersen Inc.’s evolving culture of continuous improvement sets a standard for excellence across the board.
“We are a family and as such we trust and help each other. We are focused on helping our teams gain additional skills so they can advance in the company and their careers. This also increases the agility of the company to manage through the different variables of our projects. Our focus on our team members’ success ensures that we have team members dedicated to giving the best products and service to our customers which results in long term stability for our employees and their families.”
He added, “We want our employees’ minds and creativity in addition to their hard work. Every company has a man, material, and machines as resources. What sets companies apart is the method used to manage and execute using those resources.”
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