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While we always appreciate constructive feedback, we feel this one is inaccurate and misleading, and we would like to take the opportunity to reply. First, yes, we certainly do have excellent products, great co-workers, and plenty of opportunities to expand your knowledge in any role we have here at Enerpac, and we appreciate your recognition of that! Thank you!
The company is undergoing a significant transformation which has driven exceptionally strong results in both revenue growth and profitability. Part of this has involved selectively adjusting expenses that were too out-of-range for an organization of our size. Overall, Enerpac Tool Group has delivered significant improvements in operational and financial performance, as evidenced by a near maximum payout of the fiscal year 2023 bonus (and yes, for executives, too – their bonus is based on the same financial metrics as the rest of the corporate and global workforce). We have also seen significant improvements in employee engagement scores year-over-year. In addition, we’ve taken the opportunity to reinvest by adding new roles across our organization to continue to drive profitable growth for the company and creating more career growth for our employees through new tools and resources in learning and development. We are highly focused on empowering our team to own and drive results, and employee development is at the heart of this.
Our HQ move to downtown is an exciting venture for the company, which we expect will deliver cost savings (as our current location is too large for what we need), enable us to recruit and retain strong talent in the local market, and position our organization for continued growth. It will also offer our employees a dynamic and inspiring workplace to spur strong collaboration and drive innovation. We do not plan on utilizing any boat dock, and obviously our little joke in the townhall on that topic fell flat with the person who posted here; for that, we apologize. We do not apologize, however, for paying for covered downtown parking for all of our employees when we make the move to our new office, which is an almost unprecedented benefit as the majority of companies with downtown offices ask their employees to pay for their own parking. We are covering this cost because we think it’s the right thing to do for our colleagues.
There is never a goal for employees to do more with less – ever. There is always a goal to be better, easier, and simpler to do business with, internally and externally. We focus on continuous improvement here at Enerpac, and we always look forward to working with colleagues who embrace this approach. If you are of the same mindset, please come check us out! We’re on an exciting journey and we are working on amazing things for our customers. We also do have a nice espresso machine. That part is true. It is also free to employees. So please enjoy your latte or cappuccino on us!
Thanks for the feedback, because we can only grow and do better.
