Success for companies was traditionally measured in terms of how much income it generated at the end of the day. New research and evolving markets, however, have placed just as much relevance in job satisfaction and employee welfare as signs of success. A company is considered as success, under the present times, as one that not only generates income for itself and its stockholders but also provides opportunities for its employees and allows them to share in the financial success of the company. A perfect example of this success is WL Gore.
WL Gore is a highly successful company that was founded on January 1, 1958. It is primarily a manufacturing and development firm that deals in fluorocarbon polymers, especially polytetrafluoroethylene (PTFE). Some of the more well-known products of WL Gore include Gore-Tex which is used in a wide variety of outdoor and sports equipment and gear.
The reason why WL Gore is such a success is because of the encouraging corporate culture and excellent organizational structure that it utilizes that boasts of no hierarchical nature. The recently appointed head of Terri Kelly has been with the company for 22 years and it is the only company she has ever worked for. This is a sign of the excellent employee programs that the company has and this has been recognized on an international scale as well. W.L. Gore and Associates has consistently ranked as one of the 100 Best Companies to Work for.
Aside from keeping its employees happy and well compensated, the company has also maintained a solid financial standing by generating worldwide sales of over US$1.84. It has also kept ahead of the pack by introducing industry leading technologies such as GORE-TEX® Soft Tissue Patch (1988), GORE-TEX® Radome Laminate (1989), ONE-UP® Pump Diaphragms (1995), GLIDE® Floss (1995) STA-PURE® Pump Tubing (2000) and GORE-TEX Antistatic Workwear (2002).
The success of this company, therefore, is based on the fact that it has still maintained a robust financial standing while keeping its employees happy and productive and at the same time such a move has not resulted in any productivity or innovation loss. A normal company would have to sacrifice one for the other but the non-hierarchal organizational structure of W.L Gore has proven to be productive in achieving all of these goals.