Five years ago, Michael Falvey challenged his employees to work as a team and decide on their future with Falvey Cargo Underwriting.
He did not take the exercise lightly. As an underwriter for Lloyds of London with responsibility for insuring cargo, he is keenly aware of the company’s own precious assets. And his investment in those assets pays off.
The company’s success starts with employee-written vision and value statements. And one thing that came out of them all was that “teamwork and cooperation are highly valued.”
One way to keep the far-flung staff on the same page is monthly meetings with the entire company, despite its being spread across five locations, including Taiwan, Hong Kong, San Francisco, London and the home office in Wakefield. Falvey begins each meeting with questions; reports on all of the customers that have been lost or gained; and reminds employees to voice their concerns during the meeting or later in private.
“Personally, I have never been in a place where we have monthly meetings,” said Clayton Combs, director of information technology at Falvey. “It’s a small company and everyone is wearing a ton of hats … so keeping everyone informed helps everyone keep their finger on the pulse.”
He asks questions more than just once a month. Falvey surveys employees regularly. “There have been issues that have popped up over time, and I’ll answer it in the meeting. Because if one employee is feeling it, then several employees are feeling it,” he said.
Combs, who has been with the company for nearly six years, confirms the power of the surveys: “Everybody’s input counts all the way down to the bottom and most of the time [Falvey] acts on it.”
Recently, the firm had the biggest challenge it ever has had to overcome. For the first time in the company’s 12-year history, it has lost employees. Two staff members went to a competitor, one left the industry altogether and a fourth went to work in another area of the industry.
“Every month, I had to announce that someone had left,” Falvey said.
He did not want the turnover to hamper morale, so he seized the opportunity to help employees advance.
Falvey interviewed all of the nearly 40 employees and subsequently implemented the Falvey Development Plan, in which he encourages staff to take classes.
It is not a one-time suggestion, said Combs. “There are regularly scheduled meetings with a development plan in place.”
Of course, maintaining employee morale goes beyond the work environment. Flexibility, great health insurance and a great vacation plan also make Falvey a great place to work, according to Combs, who sometimes has to bring his children to work with him.
“I have the kids here today,” Combs said. “If you have to run out and get them from day care during work, Michael says, ‘Go, family is first.’ ”
The company sponsors a health and fitness challenge to employees rewarding teams that lost the most weight, along with sponsoring a local golf tournament.
“I think these activities are really important,” he said. “I think that it is so important to see people interact outside of work.”
