Poised for Success: An Exit Strategy

Profile

Our partner was a steel erecting company based in New Mexico, conducting business in CA, NV, TX and CO. Their primary operations consisted of building light gauge steel public storage units up to 200,000 square feet and three stories tall. They also fabricated steel trusses and erected steel churches and commercial buildings. Their clients included a nationally recognized public storage company, the State of New Mexico, the United States Air Force and private organizations.

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Problem

Our partner was referred to us by an attorney in Lubbock, Texas who they retained for a wage and hour employment matter and several additional issues that arose with a particular employee. Our partner, who had been in business for 35 years and conducted the majority of all employee agreements with a handshake–found himself in a dispute with an out of state employee that his company blindly hired based on a referral from an existing employee. The employee filed numerous DOL complaints in three states for insufficient break periods and no per diem pay.

In addition to these areas, our partner was looking for assistance with their safety program, health benefits, staff development, and recruitment of a key staff member to replace a retiring Vice President.

Solution

After the attorney successfully mitigated most issues with our partner, we stepped in and assisted with developing strategic and practical hiring practices, including the use of a background verification services, a legal and up to date employee handbook, and management training for hiring/firing, proper interview skills and sexual harassment. Additionally, our Risk Management Department became heavily involved in the development of a compliant multi-jurisdictional safety manual. We also assisted in developing and sourcing two full time safety manager positions. And with the assistance of our Human Resource Director and our Recruiting Department, a national search was launched to identify a senior level construction Executive. The candidate we placed there over 7 years ago remains employed, but is now the Chief Operating Officer (COO).

Additionally, within ninety (90) days of creating our partnership, our client opted to implement our full employee benefits package that included health, dental, vision and 401(k). They had a 88-percent participation rate.

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Eighty-percent (80%) of the original staff remains employed as of this date.

Result

This partnership lasted 6 years and ended only when they were purchased by a much larger national conglomerate. Eighty-percent (80%) of the original staff remains employed as of this date. The original owner credits UniqueHR for bringing him “out of the caves” and “into the future.” In fact, when he sold his interest in the organization he spoke to our Executive team and stated,

 

 

“After 35 years in business I was reborn on how to do things that I never considered–to do things that were uncomfortable. But I am glad this old dog was able to follow those that knew some new tricks.” He went on to credit UniqueHR with helping him grow his organization to a position that allowed him to sell his interest and retire very comfortably.

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