Employees at Irvine medical device maker Aspen Medical Products Inc. never have to ask, “What have you done for me lately?”
Aspen offers workers and their families company trips as performance rewards, as well as bonuses throughout the year.
The company ranked No. 3 in the medium company category—50 to 249 employees—on the Business Journal’s second annual Best Places to Work list.
The list was compiled for the Business Journal by Harrisburg, Pa.-based Best Companies Group, an independent workplace researcher that managed the registration process, conducted surveys, evaluated data and selected companies for the list based on overall scores from queries of management and employees.
“My biggest asset is my employees,” said Dan Williamson, Aspen’s founder and chief executive.
The company has 160 workers.
Products
Aspen makes braces to immobilize the upper and lower spine in people with back pain or who are recovering from injuries.
The company’s devices are sold through Aspen’s own sales force, rather than distributors.
To keep employees happy, the company pays quarterly bonuses for salaried workers.
“Rather than waiting a 12-month period to get a bonus, they can see the fruit of their efforts after every three months,” Williamson said.
Hourly workers also receive bonuses. All bonuses are based on the performance of the company.
“Let’s say I gave you $100 for your bonus,” Williamson said. “If the company grew by 10%, I’m going to grow your $100 by 10%, so you’re now going to get $110. Every year, you benefit with the corporation as we do well.”
Aspen also gives “spot bonuses” on a daily or weekly basis to standout workers.
But it’s not just about the money.
The company stages outings and parties to keep workers connected on a personal level.
Employees have gone to races at Los Alamitos racetrack and bowling. The big reward is a company trip for each employee and his or her spouse if “we hit our numbers,” Williamson said.
The next trip is set for the Central California town of Solvang in April, including a wine tour.
Aspen has less than $50 million in annual sales and sees a 17% to 20% growth rate most years, according to Williamson.
The company is self-financed, profitable and doesn’t have debt, he said.
Williamson’s personal style appeals to Aspen employees, said Vicki Jennings, the device maker’s materials manager who has worked with Williamson since 1989.
“Dan is the type of leader who everybody looks up to,” said Jennings, who started out in the accounting department. “He’ll walk through the building. And it doesn’t matter who you are, he’s going to visit with you for a bit or push his sleeves up and do something.”
Williamson tries to promote that “do something” attitude through the company’s philanthropy.
Aspen is the presenting sponsor for the Challenged Athletes Foundation, a La Jolla-based nonprofit that organizes the San Diego Triathlon Challenge for athletes with physical disabilities.
Williamson moved Aspen from Long Beach to Orange County about eight years ago. Personal reasons partially were behind the switch, he said.
The San Clemente resident said he “was getting a little tired of making the commute to Long Beach every day.”
Williamson sought employee input, forming a committee to decide how the new workplace should look.
Aspen’s carpet looks like it could belong in someone’s home. The headquarters also has what Williamson called “soothing” green walls.
Workers are “going to spend eight or 10 or 12 hours here, so they’re going to want to feel comfortable,” he said.
Input Council
Aspen has a council that polls workers about how to improve their jobs. One of those suggestions was to add an employee gym. So Aspen has weights, exercise bicycles, an elliptical trainer and a treadmill.
The company offers a 401 (k) retirement plan, pays 70% to 80% of workers’ medical and dental insurance benefits and pays country club dues for select salespeople who do business entertaining.
Aspen also has flexible scheduling—some workers come in as early as 5:30 a.m. in order to get off in time to spend time with their families later in the day. n
