On December 31, 2008, Restek Corporation announced the purchase of all outstanding corporate shares, officially becoming 100% employee owned under an Employee Stock Ownership Program (ESOP) structure. The transition to 100% employee ownership was made to ensure both our long-term stability and the continuation of our unique customer-centric culture. In the years since, Restek employee-owners have continued to introduce innovative new products while increasing our technical expertise and taking every opportunity to live up to our reputation as the company chromatographers can rely on.
The prestigious General Social Survey (GSS) recently reported results that mirror Restek’s own beliefs and experience. The 2010 GSS showed that employees in the U.S. who had employee stock ownership were four times less likely to be laid off during the Great Recession than employees who did not. The survey also stated that only 13% of the employees with employee stock ownership intended to leave their companies in the coming months, compared with a rate of 24% for those lacking employee ownership. Restek truly values its employee-owners and has remained committed to employee retention and professional growth during the ongoing economic turmoil. In return, our talented employee-owners have largely chosen to remain here—just when our customers need us most!
Because Restek employees own the company, each one is truly a partner to our customers. We understand the importance of delivering high-quality products on a schedule that meets customers’ needs because they, in turn, want accurate, timely, problem-free analyses. Meeting and exceeding expectations for quality and on-time delivery provide a decided advantage for our customers. Superior technical support and sincere interest in new ideas further distinguish Restek employee-owners from those at traditional companies.
Restek remains an independent company. We take pride in supporting many instrument manufacturers and chromatography platforms, and we can do so because we are not tied to any single source. Our employees are empowered to make decisions based on sound technical theory and practice, and we strive to offer not only the most helpful, but also the most universal technologies, products, and customer solutions. Our recent success in achieving ISO Guide 34 and 17025 accreditations is one more way for Restek’s employee-owners to showcase our excellent quality and performance.
When he began the company in 1985, Restek founder Paul Silvis envisioned a company that would strive to provide the highest quality, most innovative products throughout the world and would be surpassed by no one in providing Plus 1 service to customers. It was this philosophy that led to 100% employee ownership and Restek’s success. After all, when 300 people are invested in a company’s future as only owners can be, they will always push themselves toward new levels of innovation and customer satisfaction.