Construction software developer HCSS last week announced it received an Innovations in Employee Ownership Award, administered jointly by the National Center for Employee Ownership (NCEO) and the Beyster Institute (BI). HCSS is one of only three organizations to receive the annual award, which recognizes creative ideas that help make employee ownership stronger and publicizes those ideas so that others may learn from them. HCSS president Mike Rydin accepted the honor during the organizations’ 2008 Employee Ownership Conference held recently in Chicago.
HCSS, which develops construction field management, estimating and resource management software, has been an employee-owned company since 1998. At that time, Rydin sold 25 percent of the company to employees via an Employee Stock Ownership Plan with the goal of motivating HCSS employees to think and act like owners.
HCSS now has a three-tier approach to employee ownership with annual cash profit sharing, Stock Appreciation Rights and ESOP. Through these tools, employees are rewarded financially for the positive impact they have on the company and are able to see how their work affects company performance. For the past 10 years, employees have received substantial profit sharing, both in cash and ESOP stock.
“Having ownership in HCSS is a constant source of motivation for me not only in my specific job, but in any area that will help our company grow,” said Blake Driskill, a software developer who has worked at the company since 1998. “Knowing that my co-workers are also owners means that we have a shared interest in working together for the benefit of HCSS.”
The National Center for Employee Ownership is a private, nonprofit membership and research organization created to provide accurate, unbiased information on ESOPs, equity compensation plans such as stock options and ownership culture. The Beyster Institute’s mission is to advance the use of entrepreneurship and employee ownership to build strong, higher performing enterprises nationally and internationally. It is part of the Rady School of Management at the University of California, San Diego.
Founded in 1986, HCSS develops HeavyBid Estimating Software, HeavyJobField Management Software and The Dispatcher resource management software. In addition to software, HCSS provides implementation planning, training and instant 24/7 support.