Oldest Family Business In U.S. Profits Without Layoffs Or Outsourcing

Oldest Family Business In U.S. Profits Without Layoffs Or Outsourcing – Careers Articles.

With the sequestration in full effect and no sign of any deals anytime soon, companies are finding ways to cut costs in order to make the hefty profits pre-recession by outsourcing, automating, and downsizing, but one company refuses to do so. The story of Avedis Zildjian Company sounds like something of a myth especially since in its 390 year history of cymgal manufacturing has never laid off a worker at least in recent history. Instead of laying off employees, the company retrains them for a new position when their jobs are automated plus offers incentive pay for increase productivity. The CEO Craigie Zildjian told NBC about the relationship with workers explaining, “It comes down to trust doesn’t it? You take care of us, and we take care of you.” Being the oldest family owned business in the U.S., the Zildjian company made cymbals in Turkey during the Ottoman Empire, then in Massachusetts during the Great Depression and can trace their history to Avedis Zildjian who was an Armenina alchemist whose secret formula for metals created cymbals with such an entrancing sound that he was invited to live with the sultan in the palace according to AOL jobs. Today, the facotry in Norwell, Mass., is run by 14th generation embers of the family and the Zildjian cymbals have been used by everyone from 19th century composer Richard Wagner to big band drummer Gene Krupa and Ringo Starr. The company currently controls 65 percent of the cymbal market with Craigie Zildjian as CEO and her sister Debbie Zildjian as vice president of Human Resources. The company’s commitment to retraining employees for new jobs is in stark contrast to employers who have cut back on training for decades which increased during the recession leaving only 1 in 5 workers with new skills from employer provided training in the past five years, according to a recent survey. For the past fifteen years, the company has offered 125 employees incentive pay for greater productivity and accuracy which has lead to only two months in 15 years where employees haven’t received a bonus according to Debbie Zildjian. This explains why so many employees are lifers who have been with the company for decades. Zildjian has been inviting music legends to test out their products and help them innovate for decades and to this day they send good tidings and birthday wishes to their artists on their twitter account which almost has 50,000 followers. The company has evolved with time as Craigie and Debbie Zildjian are the first women to run the company. The company’s success may also be due to the special rules for family management which requires as BBC reports that no family member can report to another, everyone must have job experience, college degrees are required, and no spouses allowed.

One thought on “Oldest Family Business In U.S. Profits Without Layoffs Or Outsourcing

  1. Annetta says:

    Hi i am kavin, its my first time to commenting anyplace, when i read this article i thought
    i could also create comment due to this sensible article.

    web page (Annetta)

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