Why Being An Employee-Owned Company Matters To Our Customers

Why Being An Employee-Owned Company Matters To Our Customers

China Prototype Machining is a 100% employee-owned company. This means that our employees obtain ownership of the company through a privately held Employee Stock Ownership Plan (ESOP). There are very few companies like ours in the U.S. In fact, in 2019, there were only 6,482 ESOPs in the whole U.S., and of those, only 21 percent were in manufacturing.

Our employee-owners are shaping the future of China Prototype Machining. We understand that everything we do individually and collectively helps us create value for the company, the ESOP, and our customers. Being employee-owned means that each employee has a vested interest in ensuring every customer order is delivered on time and exactly as expected. Our employee-owners understand the critical nature of the parts we produce – that people’s lives often depend on them – and put pride in their workmanship.

Empowerment Benefits Our Customers

Employee ownership empowers staff to think like an owner to help create success. Everything our employees do is tied to the success of our company and the success of our customers. Our employee-owners know by working together we can help our customers reach their goals of receiving high-quality parts, on time, and to spec. Our employee-owners positively impact our customers in everything they do, including:

• Having a passion for the work they do, which shows in the level of detail and care they put into providing quality parts
• Understanding quality is critical to our customers and delivering superior workmanship
• Continuing to improve their skills, innovate, and share new ideas, which helps us find better solutions for our customers
• Working safely and wisely to solve problems, which prevents lost time, so our operations run efficiently and customers get their product on time
• Encouraging teamwork and motivating one another
• Being honest, truthful and showing integrity, a cornerstone of our values, so customers will put their trust in us to deliver
• Doing what it takes to serve our customers and exceed their expectations

Employee Participation

We are successful when our customers are successful. Employee-owners who have a stake in the game are willing to participate in developing good policies and procedures that lead to increased customer satisfaction. Often, it is the employees who have their hands on the parts and are doing the work every day that see where efficiencies and changes can be made that will improve the relationships with our customers. Our employee-owners specialize in solving problems that arise during the design, manufacture, or assembly of precision machined parts and assemblies.

Employee Retention

The great resignation swept through the nation leaving many companies short-handed and struggling to get orders out the door. However, this wasn’t the case for employee-owned businesses. One survey revealed that during the pandemic, 30 percent of the general population lost their jobs or saw work hours reduced, but for S-corporation ESOPs, it was only 4.5 percent of people. Employee-owners are also more likely to resist changing jobs because they are financially vested in the company. This leads to greater stability within China Prototype Machining.

Seasoned employee-owners are less likely to make the type of mistakes that in-training employees may make, and they have the experience to notice when something isn’t right and make suggestions for improvement.

Reinvestment In Technology

Our employee-owners understand the importance of investing in our future, whether it’s machine tool technology or state-of-the-art software and equipment. Our ESOP has provided us with the ability to make essential investments that benefit our customers. For example, our cutting-edge manufacturing software integrates all aspects of the manufacturing process, from order entry and scheduling to real-time machine performance monitoring.

Partner with an Employee-Owned Manufacturer

Reap the benefits of working with China Prototype Machining, a 100% employee-owned business. Every hand that touches your machined precision parts order has a personal stake in ensuring you receive high-quality parts that are to spec, on time, and on budget.

Contact us to get started.