At most companies, employees toil on the cube farm while the chief executive takes in the view from the ivory tower. Not at Cadence, where CEO Peter Harris sits not in a corner office but in a cubicle, just like everybody else.
|A Cadence employee sets up a continuous coil-fed sharpening operation. Photo courtesy of Cadence Inc.|
Since its founding in 1985, Cadence, which provides outsourced manufacturing solutions for surgical devices and scientific applications, has maintained an open office environment with a no-door policy to encourage interaction among employees at all levels. “It’s kind of cool,” says Corporate HR analyst Keri Rankin, who sits across from the CEO. “We have a lot more collaboration than we would if we were sitting in our own offices.”
Cadence’s financials are also an open book. Employees have access to daily intranet updates and quarterly meetings on the company’s performance and goals. “We can see if we’re doing well and when we’re not doing well,” says senior accounts manager Ryan Aleshevich. When company goals are met, workers across the board are rewarded with a bonus based on an equal percentage of their salaries. “That’s a good motivator,” he adds.
CEO: Peter Harris
Key Products: Custom-made blades for surgical products; some company-branded sharp products
Annual Revenue: $36 million
Aleshevich is a testament to Cadence’s policy of helping employees advance their careers. He was hired as a CNC technician a little more than 18 years ago and since then has worked his way through a host of positions—from manufacturing specialist to shift supervisor—taking advantage of the company’s tuition reimbursement for job-related training along the way.
Thanks to a cafeteria-style benefits plan, Cadence employees can choose perks based on their priorities. There are choices for health, dental, life, and disability insurance, as well as options such as an employee stock purchase program and discounts on fitness center membership and Verizon phone service. Employees who want more vacation can buy additional days (up to 20 total) for 125% of their daily pay. Yearly flu shots and uniform rental and laundry are complimentary.