Empowered Ventures

Very few business decisions come with deeply personal impacts. One of the exceptions is healthcare. A 2022 article by McKinsey & Company talks about the hyperinflation of healthcare costs – $370 billion (billion) dollars higher in 2027 compared to pre-pandemic projections of the same timeframe – and how employers need to rethink how they administer their employee health benefits in light of this significant headwind. It is now two years after that article first appeared, and we can confirm that our enterprise is experiencing this projection, along with the rest of the country. We have not been immune to skyrocketing healthcare costs and the heart-wrenching struggle nearly every employer is going through – offer benefit plans that don’t cover much, or offer plans that cost too much to use. The situation seems bleak. One sentence from the article, in particular, jumped out: “In addition to cost-management measures, employers could adopt a mindset of ‘health as an investment’ that requires a better understanding of their employee populations’ needs and preferences. This approach would not only include demographics, geography, and most relevant care journeys, but also employees’ definition of health and wellness and their preferred modalities of engagement.” We believe our employee owners can and should be able to wear both their “owner hat” and “employee hat” when it comes to healthcare and benefits decision-making and utilization. We believe that together, we can solve the problem of skyrocketing healthcare costs through a concerted effort, a lot of creativity, and even more courage to try things that may be completely novel or unconventional. In short, we’ve already actioned McKinsey’s advice, and even taken it a step further to include employee input in the creative process of solving this very complex problem. Introducing… Healthcare for Us. Healthcare for Us is an Empowered Ventures initiative that aims to: - find ways to improve how our current employee owners choose and utilize healthcare benefits - optimize our annual plan design and purchasing process (all hands on deck!) - keep all of our employee owners in the loop on the emerging landscape of healthcare and health benefits. We’re at the very beginning of this journey. We simply refuse to sit by and accept the functional loss of healthcare benefits for our employee owners, in a world where it has become commonplace to “provide” a benefit that isn’t functionally a benefit at all, and in some cases is even a liability. Healthcare for Us. This is our commitment to leading our organization into a future of exceptional financial and personal well-being outcomes.

Managing is hard. Managing a team on the front lines of customer relationships is hard AND crucially important to the business. Join us for another “Best Of" episode of Empowered Owners, where we sit down with Shannon Hayden, Director of Customer Support at TVF. With over two decades of management experience, Shannon understands the importance of getting to know her colleagues and fostering open communication to create strong relationships. In this episode, Shannon shares valuable insights into leadership, team dynamics, and her experiences at TVF. And to top it off, we even sprinkle in some 80s and 90s throwbacks at the end. Later in the episode, Empowered Ventures Vice President Michael Algrim joins host Chris Fredericks to discuss Stewarding Excellence, a pillar of the EV strategy. Find the episode wherever you get your podcasts. Show notes and transcripts are on the episode page on our website, and full video episodes are on YouTube at Empowered_Ventures. We'd love to hear from you! Leave a comment with any feedback, or reach out to us at hello @ empowered . ventures.

We set an ambitious new goal for all EVers. Michael Phelps once said, "Goals should never be easy. They should force you to work, even if they are uncomfortable at the time.” As an employee-owned company, we’re in a unique position. Our goals don’t just impact a small group of owners or leaders; they impact all our employee owners. Ideally, goals generate win-wins – we all work together then enjoy the benefits together. Accomplishing our goals helps us achieve our mission and fulfill EV’s purpose. We believe teams need something to rally around, and BHAGs (big, hairy, audacious goals) focused on EV’s share price have worked well for us. The share price sums up how our businesses are doing and reflects employee owners’ work in their ESOP statements. Our most recent share price goal was $85 by 2025, which our amazing employee owners worked hard to achieve a year early (🎉!). So, we got to working on what should our new share price goal be. After careful consideration we landed on a new share price goal: $260 by 2030. We are excited about this goal because it is achievable based on our plans and projections, but it won’t be easy. It will require considerable effort and require us to navigate the inevitable challenges that all businesses face over multiple years. But the work will be worth it – hitting this goal will significantly grow our employee owners’ ESOP accounts, which is essential to our purpose and would be an exciting outcome for all our employee owners! It’s ambitious, a little uncomfortable, and will make us work. Michael Phelps would be proud. See our website to learn more about EV, our goals, and our operating companies.

We set an ambitious new goal for all EVers. Michael Phelps once said, "Goals should never be easy. They should force you to work, even if they are uncomfortable at the time.” As an employee-owned company, we’re in a unique position. Our goals don’t just impact a small group of owners or leaders; they impact all our employee owners. Ideally, goals generate win-wins – we all work together then enjoy the benefits together. Accomplishing our goals helps us achieve our mission and fulfill EV’s purpose. We believe teams need something to rally around, and BHAGs (big, hairy, audacious goals) focused on EV’s share price have worked well for us. The share price sums up how our businesses are doing and reflects employee owners’ work in their ESOP statements. Our most recent share price goal was $85 by 2025, which our amazing employee owners worked hard to achieve a year early (🎉!). So, we got to working on what should our new share price goal be. After careful consideration we landed on a new share price goal: $260 by 2030. We are excited about this goal because it is achievable based on our plans and projections, but it won’t be easy. It will require considerable effort and require us to navigate the inevitable challenges that all businesses face over multiple years. But the work will be worth it – hitting this goal will significantly grow our employee owners’ ESOP accounts, which is essential to our purpose and would be an exciting outcome for all our employee owners! It’s ambitious, a little uncomfortable, and will make us work. Michael Phelps would be proud. See our website to learn more about EV, our goals, and our operating companies.

Many people lead machine shops, and many people raise goats. Far fewer do both. We’re lucky enough to know one, and we got a chance to talk to him. In this replay episode of Empowered Owners, Jack West, Vice President at Firstar Precision Corp., discusses his career journey, including a life-changing stint in the military, his humble start at a gas station, and his 20+ years at Firstar. Throughout this episode, Jack shares the wisdom he has acquired through his career, including the importance of seeing customers as partners and how to develop young workers. And he sheds light on how some of these skills have extended into his personal life, allowing him to pursue a fulfilling hobby: managing his very own farm. Find the episode wherever you get your podcasts. Show notes and transcripts are on the episode page on our website, and full video episodes are on YouTube at Empowered_Ventures. We'd love to hear from you! Leave a comment with any feedback, or reach out to us at hello @ empowered . ventures.

One of our favorite days of the year is October 1, when we get to welcome the newest entrants to the EV ESOP. What better way to kick off employee ownership month?! We often discuss the benefits of employee ownership for both employee and employer. But what’s even more meaningful is zooming in to see the potentially life-changing outcomes for each individual. There are many stories of unique personal successes that are empowered by employee ownership, and the first step is joining the ESOP. So today, we celebrate our new employee owners. We are grateful to be alongside them and excited about this significant step that has the potential to be life-changing over time. From TVF: Travis Conlon, Lindsey Forey, Malsel Gracia Alcantara, Ben Jones, Juan Rodriguez, and Rachel Weaver From Firstar Precision Corp: Nathaniel Hagar and Trevor Johnson From Paramount Plastics: Keeyonna Brown, Jesse Fernandez, Tyler Hardy, Martin Hernandez, Travis Johnson, Nora Juarez, and Omar Ramirez From Empowered Ventures: Kim Dinwiddie, SHRM-SCP, CPC Congratulations!

Workplace culture is a team sport. Only through collective effort can you establish and sustain a positive team culture. A crucial step for alignment? Communicating and understanding "why". And in this replay episode of Empowered Owners, Blake Theademan, Customer Service Specialist at TVF, shares more than just the power of why. He and Chris Fredericks discuss empathy, the value of understanding strengths, and his journey from warehouse to customer service at an employee-owned company. Find the episode wherever you get your podcasts. Show notes and transcripts are on the episode page on our website, and full video episodes are on YouTube at Empowered_Ventures. We'd love to hear from you! Leave a comment with any feedback, or reach out to us at hello @ empowered . ventures.

For those waiting with bated breath for the return of Empowered Owners, you can now breathe freely! The first episode of Season 3 features Empowered Ventures' own Chris Fredericks. He discusses key achievements since Season 2, highlights the acquisition of Benoure Plumbing, Heating & Air Conditioning, and celebrates the hard work of all EVers in achieving a long-term share price goal. Looking forward, Chris outlines new multi-year goals and improved processes for continued growth. He also introduces new team members, Christine Webb and Casey Grisez, and looks ahead at Season 3 of Empowered Owners. Find the new episode wherever you get your podcasts. Show notes and transcripts are on the episode page on our website, and full video episodes are on YouTube at Empowered_Ventures. We'd love to hear from you! Leave a comment with any feedback, or reach out to us at hello @ empowered . ventures.

What are you willing to do to connect with your colleagues? Maybe you start a book club, join the company kickball team, or commit to never having lunch alone. But are you willing to learn a new language? Lori Atone, TVF’s Learning and Development Director, is learning Spanish to better communicate and connect with fellow employee owners. She's that passionate about her role. But that’s not all. Lori also: - Integrates principles of ownership into TVF’s learning modules, including how to exercise an ownership mindset in any job - Communicates the value proposition of employee ownership - Serves as an integral member of TVF’s employee ownership committee - Participates as an active board member at The National Center for Employee Ownership (NCEO) - Shares her wisdom at work (and on the Empowered Owners podcast!) We at Empowered Ventures created the EV Employee Owner of the Year Award to honor employee owners who embody the essence of an ownership mindset. It’s a celebration of those who improve workflows, impact their business, help others, solve problems, and put the team first. The EOYA recognizes EVers, nominated by their peers, who best represent employee ownership as a mindset, a culture, and a way of life. Lori lives and breathes the ownership mindset – in her role, with colleagues, as an ambassador for NCEO, and in the community. She has undoubtedly earned the inaugural EOYA and we congratulate her! 🎉 We would also like to celebrate the top EOYA nominees from our other companies: Bryn Jones at Paramount Plastics and Kevin Rowan at Firstar Precision Corp. (Our newest company, Benoure Plumbing, Heating & Air Conditioning, will jump into the competition next year.) Bryn and Kevin are all-in when it comes to championing employee ownership. We congratulate them on the well-deserved recognition and commend them as company leaders. We’re so excited to see what the incredible employee owners at TVF, Paramount, Firstar, and Benoure have in store for the coming year. There’s going to be some serious competition for the next EOYA! Learn more about Lori on TVF's Our Team page, and see our website if you're interested in the power of employee ownership.

We are delighted to announce a new addition to the Empowered Ventures team – Casey Grisez! Casey is a graduate of The Ohio State University with a bachelors degree in economics and he continues to call Columbus home. Casey has joined us as our Finance & Marketing Associate, a hybrid role that will be roughly 50% finance and 50% marketing and communications. This unique role suits Casey’s background and passion while bringing crucial capacity and expertise to the EV team. Casey is an experienced finance professional, including ESOP valuation, and also excels as a writer with a knack for great storytelling. He is poised to support and elevate both functions for our team, ultimately advancing our mission across the enterprise. Casey has honed a diverse skillset during his career. With experience ranging from relationship management to financial modeling to copywriting, he has learned how to simplify the complex. As Casey puts it, “Having followed Empowered Ventures from the start, this team and organization are special. Whether using words or numbers, I’m honored that I get to tell the stories of EV, our businesses, and our incredible employee-owners.” Welcome to the team, Casey! See our website for more about us and to see Casey's full bio.