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HCSS receives national award for employee ownership.

Construction software developer HCSS has received an Innovations in Employee Ownership Award, administered jointly by the National Center for Employee Ownership and the Beyster Institute. 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 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 ESOP (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 ESOR 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. (800) 683-3196, hcss.com
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Title Annotation:Business: THE LATEST INDUSTRY NEWS
Publication:Underground Construction
Date:Jun 1, 2008
Words:192
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