In the dynamic and ever-evolving propane industry, staying ahead of the curve requires more than just access to resources; it demands a culture of innovation, a commitment to customer service and a genuine connection to the communities we serve. At Crystal Flash, we believe that employee ownership through our employee stock ownership plan (ESOP), combined with steadfast dedication to our core values, is the foundation of our success. This ownership mindset fuels innovation and strengthens customer relationships.
Employee Ownership: A Catalyst for Innovation
Unlike traditional ownership models that may limit creative flow, Crystal Flash fosters innovation at every level because every employee is an owner. We win or lose together in ways that may not always be possible and certainly are not typical in many other ownership structures. This vested interest cultivates a mindset whereby identifying improvements, proposing novel solutions and working together as one team are more natural outcomes.
When it comes to workplace culture, it’s important to not just talk about innovation, but to live it. At Crystal Flash, our ESOP structure empowers our employees to think like owners, driving a culture where every idea is valued, and every improvement and innovation is celebrated. This translates to real, tangible benefits for our customers and our business.
This isn't just a concept; it's how Crystal Flash operates. Our cross-functional back-office optimization team (BOOT), for example, gathers feedback from back-office staff across multiple departments regarding our daily processes, procedures and technology. BOOT then uses these insights to prioritize and guide projects throughout the year. A significant achievement of BOOT has been the complete digitization and centralization of our accounts payable process, providing unprecedented visibility, accelerating vendor payments and reducing outstanding invoices. Currently, this team is applying their focus on liquid inventory management, associated audit procedures and reporting.
Crystal Flash also recently engaged in a customer journey mapping project focused on new residential propane customers. By engaging a third-party expert to interview both employees and customers, we gained an unbiased view of our onboarding process, pinpointing opportunities to enhance the customer experience and streamline internal data flow. This project also affirmed the value of our existing technology investments. Sometimes, innovation simply means leveraging existing tools in new ways.
Our commitment to safety for both people and the environment is another area where employee ownership drives innovation. Our safety department has developed monthly self-paced learning modules accessible on various devices, fostering a culture of shared accountability for safety knowledge. Furthermore, employees in critical handling and delivery roles receive advanced hands-on training and interactive workshops to reinforce best practices. This proactive, company-wide safety focus has decreased workplace incidents, underscoring our dedication to the well-being of our team, the environment and our customers.
These examples illustrate how employee ownership empowers our team to contribute their insights and expertise, leading to tangible advancements in our processes, technology and the service we provide.
Legacy Preservation Through Employee Ownership
Our ESOP structure has also proven to be a powerful tool for integrating new employee owners gained through acquisitions. When a company joins the Crystal Flash team, their employees join our ESOP, sharing in the company's success. Their customers become part of the communities that Crystal Flash serves with our core values. This seamless transition fosters a sense of belonging and ensures that the acquired company's legacy is preserved within the Crystal Flash framework. This provides peace of mind for sellers who are deeply invested in the well-being of their employees and their communities.
The National Center for Employee Ownership (NCEO) states, “The research is clear: people who work for ESOPs have increased job stability, higher incomes and greater net household wealth. Every company is different, and no business — not even an ESOP company — is immune to the risk of the business world, but the average ESOP company and the average employee at an ESOP company simply have greater economic well-being."
Building Lasting Relationships: The Impact on Customer Service & Community Engagement
Beyond driving innovation, employee ownership has a profound impact on our customer service and community engagement. When employees are owners, they take a personal interest in ensuring customer satisfaction and building strong relationships. This translates into a higher level of responsiveness, attentiveness and dedication to meeting customer needs.
A compelling finding from a third-party study revealed that 70% of our residential customers and 63% of our commercial customers believe our employee ownership positively impacts their perception of Crystal Flash. Reinforcing this, a May 2022 survey of our customers asked, "When it comes to choosing an energy provider, how important is it to you that the provider is 100% employee-owned?" The results showed that a significant 88% rated it as important.
Interestingly, an equally high 87% of non-customers also considered it important. This data underscores the value our customers place in our unique structure.
Our customer service representatives, who are also owners, are empowered to go the extra mile to resolve customer issues and provide personalized solutions. They understand that their actions directly impact the company's reputation and their own financial well-being. This sense of ownership fosters a culture of accountability and a commitment to exceeding customer expectations.
Furthermore, our delivery drivers, who are often the face of Crystal Flash in the community, are deeply invested in building trust and rapport with our customers. They take the time to get to know their customers, understand their specific needs and provide personalized service. This personal touch fosters a sense of loyalty and strengthens customer relationships.
Central to our community engagement and employee development is our ESOP Committee. This diverse, cross-functional team of employee owners drives community engagement initiatives and fosters employee learning. They organize volunteer events, blood drives, coordinate fundraising efforts and develop educational programs that empower our employee owners to grow both professionally and personally.
One particularly impactful initiative is our annual community involvement program. This program provides financial support to local and regional nonprofit organizations that are making a difference in our communities. Through these three main areas of philanthropic focus, we are committed to promoting and supporting the health and well-being of families across our service footprint: agriculture and rural life advancement; veterans assistance; and cancer research and assistance.
Our employee-owners recognize that our success is inextricably linked to the well-being of our communities. By investing in our communities, we are not only fulfilling our social responsibility but also building a stronger foundation for our company's long-term growth.
The Crystal Flash Difference: A Sustainable Model for Success
At Crystal Flash, we believe that employee ownership is not just a business model; it’s a way of life. It fosters a culture of innovation, enhances customer service, strengthens community engagement and provides a compelling offering to sellers and future employees.
Our employee owners are not just employees; they are partners in our success. They are invested in the company's future and are committed to delivering exceptional value to our customers and communities. This shared commitment creates a powerful synergy that drives our company forward.
We encourage other companies in the propane industry to consider the benefits of employee ownership. By embracing this model, we can collectively build a stronger, more sustainable industry that is committed to innovation, customer service, community engagement and legacy preservation.
