A central part of PRIER’s mission statement is the component that we are in business tomake money through profitability, return on investment and cash flow management.
Profitability is fairly straightforward, but not necessarily easy. Basically, PRIER wants to sell items for more than it costs to make them. Return on investment, however, gets a little more complicated. We invest in our business every day and treat PRIER like we will be the owners for generations to come. So, how do we know where to invest our resources? We decide to invest in whatever way has the best return for PRIER. Each capital investment request comes with a return on investment calculation. If the request gets approved, we track the investment throughout the payoff period to confirm our investment will return as hoped. Sometimes it’s better than calculated; sometimes it’s not as good as hoped. Either way, we’re tracking this information and learning with each occurrence, working to make PRIER even better. Cash flow management can be straightforward, but our business tends to be somewhat cyclical. Therefore, it is very important that we manage this area properly to be able to take advantage of favorable opportunities.
Another key component to our mission statement is helping all associates become all they are meant to be. However this is defined by the associate, not PRIER. For example, there are numerous occasions when a PRIER associate would like to attain a higher level of education to achieve what they are “meant to be.” PRIER assists in these endeavors either by providing appropriate training to the associate or, through a tuition reimbursement plan. If an associate decides to go back to school and they receive good grades, PRIER will basically reimburse the tuition costs. A great deal for our associate and PRIER!
PRIER also strives to have fun and enjoy our work. Life is too short to be burdened by people who always have a cloud over their head. PRIER’s spirit committee works to create fun events both inside and outside of PRIER to help our associates enjoy themselves. PRIER attends baseball games, picnics, community service events and celebrates holidays. Our upcoming event in February is National Pancake Day! Stay tuned.
Most importantly, once a year, if a PRIER Associate can memorize our mission statement and recite it to PRIER’s CEO, Joe Poskin, they receive $20 cash right on the spot. In fact, the first person each year gets $50 cash! This makes for a line at his door on the first day of the year. Our thought is: you can’t live the mission statement if you don’t know it!
As you can see, PRIER’s Mission Statement is not just on a poster in a conference room. We are committed to everyone knowing about it. Why? Because if PRIER is not living the mission statement, we want people to let us know to help to make us better!
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