It is not the kind of life one might imagine for a family whose net worth is $60 billion – the fifth largest in the world. But then again, there is much about the M&M family and its corporation that is unimaginable. At M&M, all employees are called ‘associates.’
There are no perks here – no corporate office suites, no company cars, no reserved parking spaces, no executive washrooms and nobody flies first class.
Direct Communication: There are no private offices either. Offices are eliminated and desks are arranged in a wagon wheel fashion, with the higher-ranking executives in the center, to facilitate communication between individuals and functional areas.
The management structure encourages direct communication. If you need something, you walk over to the boss and ask for it.
Independence: The employees are empowered to be more independent. They take more responsibility and train with more patience. Employees thrive. Once they get a job, they stay. The turnover rate is a low 5%. Some families can claim three generations of employees.
You Don’t Get Ahead Of The Game Because You’re Connected
The clock reads 6:40am. John Mars, at 56, comes to the office, pulls out his time card marked J F Mars, and does what few chief executives in America would ever dream of doing.
He punches in. The billionaire grandson of the company founder punches his time card every morning. Every employee, from the president down, is eligible for a 10% bonus for being on time.