Field Fastener has averaged 19% annual growth for 28 years. Chairman / co-owner Bill Derry credits company culture for the growth.

“For 28 years we have been working on the culture, but never referred to ‘culture’ until about 10 years ago,” Derry said. “We just wanted to have a great place to work and create a successful company.”

“There is a lot of talk these days about corporate culture and how it can be a competitive advantage. Unfortunately, in many companies it is only talk,” Derry reflected. “To create a culture that is a competitive advantage, the company and its leadership needs to have a vision, a plan that is executed and a method of protecting and enhancing the culture.”

Every company has a culture, Derry declared. “You get it by accident or by design. Make it by design.”

Derry started in the fastener industry with Rockford, IL, companies Camera Textron and Rockford Products. Derry and his brother, Jim Derry, acquired Field Fastener in 1990.

“Field Fastener is extremely proud of the team we have and the culture they have developed,” Derry said, citing local to national awards Field has received.

Among those awards are Bill Derry being inducted into the IFE Hall of Fame in 2017. Bill Derry was the 1997-98 president of the National Fastener Distributors Association and Jim Derry led the NFDA for 2010-11.

Derry said part of the vision for Field “has been to be the premier employer in the areas where we operate. We want people to see us as a great employer and corporate citizen.”

“The first step in this process is to truly have a great place to work. The Team Members need to be brand ambassadors in the community. They should be proud to be on the team and let their friends and neighbors know it.”

Being active in the community with things such as United Way, Habitat for Humanity and local non-profits helps, Derry finds.

Derry said key elements to a sound culture plan include:

• Hiring: “Everyone that joins the team influences the culture,” Derry finds. “When you hire, you need to put a priority on hiring cultural fits. In the past, we had a priority on hiring the best skills.” That resulted in Field Fastener having “lots of turnover in the first two years. Those that did not fit the culture left or were asked to leave.”

“Now we hire for cultural fit with the appropriate focus on skills, but great skills don’t get you hired if you are not a cultural fit,” Derry said.

• Training: “The investment companies make in training is an indicator of the commitment that have to the team,” Derry said. That includes culture training, “how to operate on the team and a variety of other things that are beyond the skills required to do the job.” Training should include “people, product and process.”

• Communications: “A strong culture is transparent and encourages open, candid, timely communications. Most companies talk about this too, but few do it well.

“The team should know the mission statement and understand it,” Derry said. That includes the “core values, strategic plan, how the company is doing, what’s going well, what issues do we face, competitive issues, etc., etc. etc.”

“Don’t assume nobody cares,” Derry said. “The team will be very interested when you help them understand why these issues are important to all of us, not just leadership.”

• Empowering: “Why would you hire great people, train them and communicate with them well and put all kinds or limits on what they can do?” Derry asked. Some controls and approvals are necessary, “but work hard to get the heck out of their way and let them do their job. The people doing the job should be the ones that make most of the decisions about the job.”

“It is tough for some leaders, but empowering the team is one of the best sources of their job satisfaction,” Derry finds.

• Coaching: “Most leaders think about coaching as a skill they use when a team member is not performing well,” Derry observed. “Companies with great cultures embracing coaching on an ongoing basis.”

“A good leader knows when a pat on the back is warranted and enjoys providing them,” Derry noted. “They also know when a kick in the butt is appropriate and is equally willing to provide it when needed.”

• Rewarding:  “A simple ‘thank you’ or ‘well done’ can have a very positive effect on a team member.

“Peer-to-peer recognitions are also effective,” Derry added. “Provide a simple vehicle for the team to tell someone else ‘thank you’ for doing something extra for me, the customer, and the company.”

Field uses a quarterly bonus plan to reward the team for the financial performance of the business. Derry said. Web: FieldFastener.com