There is an old saying that reads, “Family and business do not mix”. This may appear to be a true statement, but in reality, it is far from accurate. In the United States, over 90% of businesses are family owned and controlled. According to studies, in a comparison of companies earning less than $500 million annually, privately held family firms outnumber public firms 50 to 1. Family owned companies generally contribute between 30 and 60% of the GDP, with a 75% higher return on equity than manager-controlled firms. Learn More about Family Owned Businesses as an Economic Phenomenon.
So, why are family businesses so successful? Here are some qualities of family owned businesses that have helped them achieve greatness:
- They have long-term goals, shared visions, and values
- They possess a strong commitment to quality and reputation
- They are community driven
- They offer more direct contact and nurturing of respect and accountability with employees, creating a positive culture
- Employees often are shareholders in the company, are eager to work, and have productively happy life-long careers with the same employer
Fitting the Family Business Mold
One business that fits the mold of the qualities listed above is Harmony Enterprises, the innovative global solutions provider for waste handling and recycling. Harmony is a third generation, family-owned business that manufactures quality products for its B2B industry niche.
Harmony was founded nearly a half-century ago with the idea of providing local residents with the opportunity of a career in manufacturing. This progressive company saw the need for supporting the economic base of its surrounding community and took action. Today, Harmony employs 75 people in the Southeast Minnesota region.
Although many companies claim to be family-oriented, Harmony lives this ideal in providing a positive culture, safe work environment, and consistently demonstrated moral values. Harmony creates this progressive climate by engaging its employees, providing industry leading benefit packages, offering affordable child care, and opportunities for advancement. Communication and collaboration, based on honesty and trust, are the norm. There is a focus on compassion and a genuine respect for each other as a greater family.
Did You Know?
What you may not know is that Harmony employs a large number of relatives who work in various departments within the organization. 23% of Harmony’s employees are closely related to one another. Below is a list of our many family employees and the different roles they fill in our organization. Many of our current employees have relatives that used to be employed with Harmony in the past and have since retired.
Harmony Enterprises – Family Employees
Steve Cremer, President
Umbelina Cremer (wife), Owner, Harmony Kids Learning Center
Ramon Hernandez (son of Umbelina and Steve Cremer), VP of Operations
Lana Soppa, Finance & Office Manager/Chris Applen (nephew), Engineering
Mike Smith, Production Manager/Josh Smith (son), Panel Build/Assembly
Greg McCabe, Panel Build/Jonathan McCabe (son), Customer Service
Jill Miller, Front Office/Jordan Miller (son), Customer Service
Pam McCabe, Customer Service/Travis McCabe (son), Maintenance
Deanna Nolan, Accounting/Larry Nolan (brother-in-law), Assembly
Betty Tostenson, Parts/David Tostenson (husband), Welding
Rollie Johnson, Shipping/Kinzee Hovey (niece), Harmony Kids Teacher
Not only does Harmony Enterprises value its employees and greater community, Harmony strives to fulfill the original mission of the company to provide meaningful and lasting career opportunities to families in the area.
If you would like to learn more about Harmony Enterprises, its focus on Career, Community, and Culture, or about its quality line of products and services, please visit our website at contact us via this simple form or call us at 800-658-2320 today!Contact Us