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OWNER -TO- OWNER www.franklinbuildingsupply.com | 208-514-2200 | 9222 W. Barnes Dr., Boise, ID 83709 AUGUST 2023
WHO BENEFITS MOST FROM AN ESOP?
E IS FOR EVERYONE
As many Franklin employees know, the employee stock ownership plan (ESOP) is a retirement savings plan. As described in the owner’s handbook, Franklin completes a study every year to value the company. That company value is communicated as a stock share price. New stock shares are granted every year to current employee owners and added to their existing shares. The total of these shares is valued at the current stock price, creating the employee’s account balance. It’s important to understand that although the Franklin stock benefit is optimally used at retirement, the benefits are real and significant both short- and long-term. The annual ESOP benefit to employees is currently averaging around 20% of annual compensation. Yes, you read that right. No, that’s not a typo. 20%. As an example to put this in real terms, an employee that earns $50,000 a year is also receiving an ESOP benefit of approximately $10,000. Looking at it another way, an employee that earns $24 an hour, is earning about an extra $4.80 per hour as an owner of the company. Compare this to 401(k) plans at other well-known companies. Amazon matches up to 2%. Micron matches up to 5%. Nevada gold mines offer a 6% match with an additional 5% unmatched for a total of 11%. Idaho State PERSI, one of the most well-known retirement benefit plans in Idaho, is from 11%–13% with a mandatory 7%–9% contribution. A key point to keep in mind is that all of these examples are a match. Meaning employees save a portion of their paycheck in retirement
savings to earn the company contribution. While setting
aside a portion of your paycheck in Franklin’s 401(k) is a highly encouraged “should do,” the ESOP is completely separate and unaffected. This means employees grow their ESOP account regardless of 401(k) or other benefits used.
In the example above, the employee earning $50,000 over 10 years could potentially build an ESOP account of $100,000. Whether you’re 25 or 55, earning an additional 20% every year working at Franklin should feel like an opportunity too good to pass up. It’s important to understand that the ESOP benefit will vary from year to year. The benefit is made up of several sources, one of the biggest being the change in stock price. While the Franklin ESOP is still young and it will be interesting to see the impact of challenging years, an employee owner’s annual return should still outpace the average stock market return of 10%. The last key point to be aware of is the vested portion of an ESOP account balance belongs to the employee. No matter when they retire, or even if they retire from another company, the balance stays with the employee as a valuable part of their overall retirement savings. It’s no secret that today’s job market is fluid and flexible. The value of working for an employee-owned company is just as great for someone starting or in the middle of their career as someone well established and later in their career. If anything, the earlier the better, as the training and habit-building of thinking like an owner pays its own dividends in career development. Just as Franklin’s employee owners invest in day-to-day process improvements, the leadership and EO Guides are continually exploring and working to improve the value of ownership. Working together makes it no surprise why Franklin is one of the best places to work, period.
–Aaron Price CFO
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HIGH FIVES!
WOW To: Karri Seiber, McCall From: Ben Thomas, McCall
High Five goes to Karri Seiber for wowing a customer! A customer called me direct to say he was very pleased with Karri’s knowledge, and ability to answer all his little questions, and overall, she did a good job helping him finalize his cabinet order. Nice work, Karri!
STRIVE To: Serjio Cervantes, Caldwell From: Alex Evans, Caldwell
SAFE To: Marcus Dennison, Pocatello From: Tony Williams, Pocatello
I just want to give my man Serj a huge thank you and High Five for helping me with a very frustrated and disgruntled customer. Communication is key, and in this instance, there was a significant language barrier. We had an unhappy customer due to not understanding a bill they had received for an install service we provided. Without even being asked for help, Serjio stepped in,
During our mock OSHA inspection, he held up the production of doors until everyone was out of the area. Good job for keeping an eye on your work environment.
stepped up, and provided clarity and accurate information to assist me in explaining and breaking down the bill in question.
EASY To: Jesse Espinosa, Burley From: Eric Heiden, Burley
Because of his professionalism and patience, we were able to explain everything, and by the end of the conversation, the customer was happy, and we will be able to continue business with them.
Jesse, without being asked, helped me organize and get rid of all the pallets and empty cardboard boxes once Western Records shredded all our old paperwork. GUIDE To: Marcus Dennison, Pocatello From: Kris Hudson, Pocatello Marcus is always willing to lend a helping hand to get any task done safely and effectively.
GOOD JOB BIG FELLA! You are a pleasure to work with, and an incredibly
valuable part of the team!
DOOR SHOP EXPANSION NEEDED FOR EXPANDING MARKET
As with the new truss plant, our goal with the door shop expansion is to handle the growing Treasure Valley market for years to come.
To use this new space efficiently and safely, we have added new multi-directional forklifts. The extra space will enable us to take a different approach with our product mix and buying strategy, with the customer’s needs top of mind and
Adding the state-of-the-art KVAL CNC door machine allows us to utilize an automated approach to manufacturing. This automation allows us to be much more efficient with our use of time, with much less chance for errors. This, along with the existing machines, will enable us to double our current capacity and capture more of the custom and multi-family sectors within our expanding market.
In our current facility, the lack of space requires material to be moved several times throughout the process of building the door. Adding 35,000 square feet of warehouse space will give us room for a streamlined flow of all the parts needed to construct a quality finished product.
the goal of being the preferred vendor for our customers.
With all the added manufacturing capacity, you can rest assured that we have put in the work and thought on the shipping side, and now we will have the opportunity to use the full power of our delivery fleet as well. These changes, which have all been a collaboration of the whole door shop team, will lead us to our goal of being a world-class, safety- focused supplier.
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BURNOUT IS REAL BUT AVOIDABLE!
In the hustle and bustle of our busiest season, it’s essential to take a moment to pause, reflect, and remind ourselves of how important self-care is. As we work tirelessly to meet deadlines and exceed
We commend all of you for your unwavering commitment and hard work during these long, hot, and productive summer days. Your dedication does not go unnoticed, and we want to ensure
expectations, we must remember that our well-being matters. Incorporating self-care practices into our daily lives allows us to maintain energy, enthusiasm, and productivity without burning out. You have already survived 100% of your worst days. This empowering statement is a gentle reminder that no matter how challenging the workload may seem, you possess the strength and resilience to overcome any obstacle. As we navigate our work lives, remember to make time for yourself to recharge and rejuvenate. After all, a well-rested and motivated employee-owner is safe and productive.
you continue to thrive. So, as we venture forward together, let’s make self-care a priority. Take a breather, enjoy the little things, find a beach to relax on, and enjoy delicious food outdoors with people you love!
Remember, while our busy season is demanding, we have the power to manage it with grace and vitality. By embracing self- care practices, pursuing activities outside
of work that bring us joy, and upholding safety measures, we can excel without
compromising our well-being. You have already overcome your worst days, and with self-care as your compass, everyone can make it to the boredom
While work may dominate our schedules, carving out moments for activities that bring us joy and fulfillment outside the office is crucial. Engaging in hobbies, spending time with loved ones, or exploring new interests can provide a much-needed balance to our professional lives.
of winter (Just kidding you sled heads).
Keep up the exceptional work; this will be another exceptional summer building season!
SEPTEMBER BIRTHDAYS
LOCATION - EMPLOYEE - YEARS SEPTEMBER ANNIVERSARIES
Treasure Valley Twin Falls Corporate McCall Sawtooth Door McCall Bellevue McCall Boise Finish Caldwell Boise Caldwell Treasure Valley Treasure Valley Pocatello Twin Falls Jerome Truss Burley Fruitland Corporate Elko Fruitland Boise Finish Jerome Truss Treasure Valley Boise Corporate Treasure Valley McCall
1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 4 4 5 5 5
Corporate Jerome Truss Jerome Truss Jerome Truss McCall Jerome Truss Jerome Truss Fruitland Pocatello Boise Treasure Valley McCall Jerome Truss Boise Burley Pocatello Boise Finish Bellevue Pocatello Twin Falls Twin Falls Treasure Valley Corporate Boise Corporate Boise Truss Boise Corporate Fruitland
5 6 6 6 6 6 7 7 7 7 8 8
Dino Bazdar Tristen Benavidez Frances Buchanan Reed Crossley Louie Perkins Hunter Whitaker Ethan Wilson Logan Farnworth Taylor Jefferies Anthony Matney Gregory Nicolaisen Mark Romero Jared Wallace Micah Williams Brandyn Williams
Sandi Palmer Dale Amen Darwin Kossman Alan Lundholm Oliver Ott Linda Szerwo Barney Florence Nick Lang Dallas Sorenson Jeff Watson
1 1 2 2 2 2 3 4 4 4 5 6 7 8 8 8 8 8 8 9 9
19 19 20 20 20 20 20 21 22 22 22 23 23 23 23 24 24 24 25 25 25 25 26 27 29 29 29 30 30 30 30
Melissa Gray Glenn Robinson Rene Davila Jesse Espinosa Aleks Pavlovic Michael White Kent Jobe Josh Duppong Jason Green Devyn Williams Dan Diehl Mitchell Thompson Julianne Meehan Andrew Block Alex Brown Maggie Jimenez
Greg Dick Victor Juarez
Michael Brown Ciriaco Castillo Trevor Drashner Jordan Shaffer Rachel Spurgeon Shawn Kimball Brent Benson Kenny Drennan Landon Lee Frances Buchanan Anthony Healey Chris Mhire
Lindsay Ross Kyle Whalen Pablo Cruz Cory Griffith Robert Smyer
10 10 10 11 11 12 14 15 19 20 21 22 22 25 26 31 40
Robert Smyer Dane Alderfer
Trevor Abrams Michelle Cruz Jesse Espinosa Kaleb Gauthier Amanda James Jesslynn Lund Vinny Pettit Michael Purcell Javier Ramirez Collin Bautista Danny Loseke Justin Blaha Art Diaz Byron Hinson
Cory Christensen Kevin Montgomery Jose Martinez Jake Ruffridge Lana Bryan Scott Ranstrom
Jeremy Pierce Austin Rosales Joe Scholl Josh Anderson Dakota Caudill Russell Parker Sarah Spence Chad Beebe Elliot Fuller
Alicia Allen Scott Way Vitor Garcia Joseph Jeffers Gregory Nicolaisen
10 10 14 14 15 16 17 17 18 18
Isaac Serratos Nathan Bruns
Jeff Keeney Bryce Luker John Beck Libby Walters James Gill Tom Mosgrove James Dowen Scott Penrod
Kris Hudson Brady Kowitz Marhaba Mohammad Aziz Brian Tucker
Kyler Tegethoff Kaleb Gauthier Christian Anderson Derek Taylor Hunter Whitaker Dathan Williams
Freddie Caldera Frank Cardenas
Thad Holmes Zach Phillips
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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
www.franklinbuildingsupply.com 9222 W. Barnes Dr. Boise, ID 83709
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ESOP Is Another Way FSB Increases Ownership Value High Fives! Door Shop Expansion Makes Us More Efficient How to Avoid Burnout! September Birthdays and Anniversaries In the Spotlight
Excellence in Action: David Drives Success in Our Boise Store! IN THE SPOTLIGHT
It’s the team behind the scenes that makes everything possible here at Franklin Building Supply. David Gardner has been with us for two and a half years now — how time flies! As our inside sales and returns specialist at the Boise, Idaho, location, David is on the front lines. Upon walking in or calling our Boise store, you may be greeted by David. He’ll field all questions and inquiries on orders, design, decks, patio covers, pergolas, sheds, and small home remodels. He also helps to keep track of store inventory and process returns that come into the store. If you’ve ever had the opportunity to meet David, you know that he always has a smile on his face — he’s passionate about his work and does it well. “In my job, you never know what to expect and this keeps things
interesting for me,” he tells us. “For me, the most satisfying part of my job is when a customer walks out with a smile on their face because we made their day better. We like to say we make building easy, and that is what I set out to do for every customer, every time. Even better is once the project is done and we get pictures and a thank you note that shows the finished project, the fruit of a lot of labor!” For David, his family is his main motivation. He and his wife have been married for almost 30 years, and together, they have three amazing children. However, he makes sure to note that the people he works with are fantastic and always keep his job upbeat and exciting. When David isn’t working, he keeps busy. Whether it’s playing games, watching a movie, cooking,
or listening to music, he always has his kids by his side. Are you ready for a fun fact about David? In high school, he won an award for the best editorial written from over 4,000 submissions across the U.S. and Canada! How cool! David, we thank you for always making sure to do your best for our clients and the team — you are an integral part of our FBS family! We appreciate you!
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