Link

Cindy Turcot Grows a Company and Profits for Employees

It’s rare for anyone to stay at a job for 31 years. It’s even more rare for that person to get up in the morning, feeling she cannot wait to get into the office. Gardener’s Supply Company is that sort of workplace. And a big reason why, says Cindy Turcot, Chief Operations Officer (COO) of America’s Gardening Resource, the parent company, is its employee stock option plan.

“I have been fortunate that throughout our evolution, I have been able to work for an amazing founder,” she said, referring to Will Raap, now chairman of the board. Turcot first began in customer service and data entry; but Raap credits Turcot (see sidebar) with committing to a new ownership model and making it happen.

The company decided to invest in its employees in 1987, says Turcot, and has relied on Vermont employees’ inherent frugality, independence and creative thinking. “We adopted an Employee Stock Ownership Program (ESOP) that allows all employees to earn stock and share in company profits.” As of December 2009, Gardener’s Supply became 100 percent employee-owned.

Turcot has been integral to building the company from its humble beginnings in 1983 to its becoming the nation’s largest catalog-and-web marketer of gardening products and accessories. They now have two garden centers in Williston and Burlington, and millions of customers, with matching revenues and 225 year-round employees.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s