marvin sticks by its no-layoffs policy
In spite of what president Susan Marvin calls a housing "depression," her company has thus far avoided laying off any of its workers. That's a humane policy, but it also may end up being smart business.
While Marvin’s story might seem quaint, even naïve, Ms. Marvin says the
no-layoff policy is as much a business wager as an act of benevolence.
She says she is confident that it will ultimately pay off. Already, she
says, Marvin is gaining market share from weakened rivals.
Ms. Marvin acknowledges that her family’s private company may have more
leeway than public counterparts. It has forgone profits for two years to
keep everyone employed, for instance. Nonetheless, Ms. Marvin suggests
that corporate America could learn a thing or two from Marvin’s approach
and long-term outlook.
“You can’t cut your way to prosperity. You can’t grow if you are cutting
your lifeblood — and that’s the skills and experience your work force
delivers,” she says, adding later: “Today, I think, to a great a degree,
I think things have gotten out of balance. We see Wall Street almost
punish companies that take the long view.”
Let's hope that Marvin's bet turns out to be a winner. --b.d.s.