"Acting like an owner" is a key part of our culture at STRATTEC SECURITY CORPORATION. To that end, we use the Economic Value Added (EVA) approach to bring additional economic value to the organization. All associates play a vital role in the business and benefit from exercising their personal responsibility to actively improve the business. When we are successful in increasing the economic value of the company, we share that success with all associates through an annual bonus program.
STRATTEC associates are empowered to "act like an owner" in their individual contributions and in team environments. Associates are encouraged to contribute their ideas and take risks to solve problems. We recognize success in many ways, from the formal "Team Spirit Award" for a job well done to our "Way Better Way" program that rewards associates for contributing their ideas for process improvements.
We encourage all salaried associates to participate in our 360 degree performance review process to reach their maximum potential. In the spirit of continuous improvement, salaried associates are provided feedback regarding their behavioral performance from a team of peer associates, internal customers and their manager - invaluable feedback that helps our associates reach their maximum potential.