Culture and Corporate Responsibility

 

For many years, I have emphasized our steadfast commitment to our employee-centric culture where we recognize that our talented employees are our most valuable asset and believe that our skilled, engaged workforce represents a true competitive advantage. Corporate responsibility lies at the heart of our culture and speaks directly to our core values of Integrity, Respect, Excellence, Stewardship, Citizenship, Accountability and Teamwork. Driven by our executive leadership team, sustainability influences how we operate our business, take care of our people, and serve our customers.

 

At CSWI, how we succeed matters. We live out our commitment to doing the right things the right way by first taking care of the health, safety, and wellbeing of our employees. We are committed to creating and maintaining a safe, heathy working environment, and we have developed a health and safety program that focuses on ensuring our employees understand this commitment.

 

This year underscored for us the importance of keeping our employees safe and healthy. In response to the pandemic, we developed a business continuity plan that was aligned with guidance from the World Health Organization and the Centers for Disease Control and Prevention to protect the health and safety of our workforce and enable us to continue to serve our customers. Supported by these efforts, all our production sites maintained operations throughout the pandemic with minimal disruption. To enable this business continuity, we mobilized nearly 100% of our non-manufacturing employees to remote work or flexible work arrangements; strengthened programs focused on employee wellness, including paid leave for personal or family illness; and limited non-essential travel.

 

We are most proud of the fact that we had zero pandemic-related furloughs, layoffs or reductions in force in fiscal 2021. Despite short-term pandemic driven demand degradation in some of our end markets, this commitment to our employees enabled us to retain important institutional knowledge and experience, increase business continuity, and bolster employee retention. Additionally, we are proud to have maintained our comprehensive and competitive retirement, benefit, and profit sharing plans without interruption, including our Employee Stock Ownership Plan, through which our employees collectively own over 4% of CSWI, strongly aligning CSWI’s employees’ interests with the interests of our stockholders.

 

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