Po Boy views
By
Phil LaMancusa
ESOP
Or
Restaurant Re-think
You
DID know that some of the more successful companies in America are owned by the
workers themselves (investopedia.com)?
Some of these companies have multiple locations, with many employees, raking in
beaucoup dollars and not hurting for staff that is willing and able to work for
themselves for themselves. Some are food service and restaurant companies. What
would it take for New Orleans local restaurants and businesses to think outside
the box and applying this strategy for success and survival? Perhaps no one has
thought of it? Not necessarily; multiple examples were set here over a half
century ago, nowadays it could be chalked up to intransigence that keeps our
economy and industries near comatose. Or maybe it’s the ‘I-Me-Me-Mine’
mentality that dissuades a company owned business from realizing that without
workers that are dedicated selfishly to success, they have to ride herd on less
than enthusiastic workers every day that they are operational.
There
are companies (including restaurant companies) that have given workers a say
cooperatively in the running of THEIR business; giving them a pony in the race,
you might say. There are a couple of places in New Orleans that are trying this
philosophy out using a couple of different methods from the twentieth century that
seemed radical then by simply realizing that it IS the Twenty-first century and
it’s worth it to give it a shot. Let’s face it, at times survival depends on
innovation; the willingness to take an existing strategy and bump it up. Why
not try?
Let’s
put some lipstick on this pig. Say you have a small business, your staff adores
you and your democratic/empathetic attitude toward them and their welfare; you
don’t have staff, you have disciples. How many companies can say that? They see
your vision and have made it a priority in their life for you to succeed; they
have strived with you in hard times and now the light at the end of the tunnel
is stability and not an oncoming train. You really want them to share in what
you (with their help) have achieved. Do you give them a raise? Health benefits?
A gym membership? A picture of Ben Franklin on a three by six piece of green
paper? A big old sloppy kiss?
Nah,
you gather them together, maybe over dinner and drinks, and you say: “You know
what kids? I could not have done this without you; without your dedication and
loyalty! Would any of you mind if we formed an LLC in all of our names and went
into business together? Yay, team!!
Seem
farfetched? Hard to imagine? It is, and no one in their right mind would dare
think of doing something as crazy stupid as that, right? Heard of Bob’s Red
Mill products? King Arthur flour products? It’s called ESOP (Employee Stock
Ownership Plan). There’s Publix Super Markets; Brookshire Brothers Grocery
Stores; Acadian Ambulance; examples from poultry processing to manufacturing to
engineering firms; healthcare; supermarkets and construction companies all
employee owned. Didn’t register on your radar? There are hundreds and hundreds,
from who you buy your beer from (craftbeer.com)
to where you dine out (jamesbeard.org),
the numbers are rising. Obviously their workers believe that it’s better than
just punching a heartless clock.
Okay,
look, you don’t just GIVE your company away; in some cases a worker has to show
up a certain number of shifts a month to qualify; also a period of employment
(say six months to a year) might be a requirement. It’s not like some Yayhoo
can walk in off the street and become a stockholder, plus peer pressure would
insure that only the right person would fit your/their owner attitude image.
The Democracy At Work Institute defines a worker owned co-op as a “value driven
business that puts worker and community at the core of its purpose”.
Listen,
I once had a restaurant with a partner that wasn’t compatible and sold my half
to him. He ran the place into the ground, before he could manage to pay me and
I stepped back in, to retrieve my money and found that his mismanagement of
staff was at the core of up and coming failure. The staff and I worked our
asses off to right the sinking venture and we did; to make a long story short,
after six months we bought my partner’s share (for me) and I was so moved that
I GAVE the restaurant to THEM. In fact, we had grown, through our collective
efforts, to value and appreciate each other so much that we rented a big enough
space so that we could all move in together. Had it not been for the landlord
burning down the building we might still be together. And that was here in New
Orleans! (albeit 50 years ago)
Should you do it? I don’t recommend it. It
takes a lot of work to be altruistic and self-effacing to that degree; it’s
much easier to be a ‘do as I say, not as I do’ owner. You get to boss people around;
hire and fire; give workers weird schedules that may conflict with their life
and do it with aplomb. Drink up the profits if you want to; flirt with the
staff; have someone else clean up after you; suspect everyone of stealing and
give favors to whoever is best at kissing your ass and living up to YOUR
standards and decisions no matter how inane they may be. It’s rough to be
called to task by someone that is washing dishes, waiting on tables or writing
checks to purveyors just because you reserved the right to “change plans at any
time you deem appropriate” (Elon Musk). It’s difficult to be told by the
janitor that your attitude and actions are counterproductive.
Better
to be a boss, I say. Why share? You’re no messiah; besides, who likes you that
much anyway?