Partners in Success

Profitsharing

Why do we do it?

At St Pierre’ s we believe that individuals do not win…Teams win.

As we are all part of a winning team, St Pierres has always treated all of you not just as workers or employees in the Company, but true partners in our success. Some 11 years ago we formalized this partnership when we developed the St Pierres Associates profitsharing plan. Under this plan each one of you who is eligible ( 6 months or more in the Company) gets to share in the success of the Company.

As we continue to expand and grow our business together, St Pierres allocates a ercentage of your pay towards your profitsharing plan and it is FREE to you. Unlike kiwi saver where you must save from your money,(4 or 8%)  St Pierres allocates a part of our profit every year towards our partners profitsharing plan and this has been an average of 13%!! of your average wages last year!! FREE!

Of course it really is not free as it the result of heaps of hard work, great customers service and controlling our business well so we continue to grow and improve our sales.

I have said in many meetings that Profitsharing is NOT luck but depends on the hard work, creativity and imagination that we have in keeping our Company growing and healthy.

This year we have seen that our sales in many stores  are not growing in the same way we have become used to in the last few years. The competition is getting stronger. They are also improving and there are many more of them. In addition the NZ (and world ) economy is undergoing many changes. Prices and interest rates are increasing. All these things are affecting our customers, and they are becoming very choosy as to how they spend their money.

However I am confident that although we are heading into a tougher economic climate, we will continue to improve and get through the other side a much stronger Company than we are now. We must continue to be innovative with our foods and always try to bring something new imaginative and healthy to our customers. We must go all out to give even BETTER CUSTOMER SERVICE as we need them more than they need us. We must be thankful for their custom, and be grateful that they prefer our products over our competitors. We must put them at the centre of our attention, always smile, be thankful and give them some kind words. We must also be creative and give them some great deals and low prices vouchers and other benefits so that they will want to shop with us more.

Remember CUSTOMER LOYALTY is what we are trying to obtain. A customer that shops once or twice a year wont make a successful St Pierres store. We  want our customers to be at our stores every weekly and even daily  and make our stores a habit.

To do this we must have great taste, be healthy, and be priced affordably.

Finally we must never forget that it is our PEOPLE FIRST philosophy that has got us where we are today. Lets make sure that we are looking after every one of you as well as we can, so you are happy, enjoying and having fun in your work. Lets challenge ourselves to become the most successful food business that has ever been developed in New Zealand!

I know that if we work together as a team we can do it!

Thank you all for making St Pierres a great Company

Perry

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Our annual profit sharing meetings were held in AUCKLAND, WELLINGTON, AND CHRISTCHURCH, and they were all great affairs, with almost 100% of associates attending.

We would like to thank all our associates for attending this very important event, which is the annual focus of the St Pierre’s Partnership.

It was a great evening, starting out with a Dinner for all partners, from which we moved on to the formal part of the evening.

During the meetings Perry pointed out that ours is indeed a very unique Company in New Zealand. He explained the difference between the St Pierre’s way, and most other Companies in our industry.

He showed how St Pierre’s is actually a PARTNERSHIP SYSTEM, where all eligible associates are partners in the Company, as reflected through our many Partnership programs, such as Profit sharing, Monthly Bonuses, Promotion Bonuses and other plans.

He explained that it did not matter who you were in the Company, whether a Manager, Assistant Manager, Team member or even part timer, you were all very important in the Company, and as long as you met the Profit sharing plan criteria, you would be  eligible for Profit sharing.

And what an allocation!  This was an allocation of approximately 12.7% of each persons annual wages or 6.5 weeks extra pay into each persons account!

This was a new record for Profit sharing and all due to the hard work, teamwork, and effort of all associates and our head office team.

Perry also explained that our Partnership does not come about just by luck, but through the EFFORT of all associates in producing GREAT Quality Food, having GREAT  Customer service, and always striving to BEAT our previous records and achievements.

Perry also discussed the importance of the St Pierre’s Way, and our Mission of “IMPROVING THE QUALITY OF PEOPLES LIVES THROUGH GREAT FOOD” and our values or the pillars of our Company. These were 1.  Partnership, 2.Teamwork, 3.Quality Food and 3.Customer Service.

We also recognized our 7 year Partners, who were Eric from Sushi Wholesale, Jenny and Gean from Pakuranga, Masaya from South City and Joanne from Tauranga. They were all presented with a beautiful trophy as symbol of the Company’s appreciation, and will also be eligible for an extra weeks holiday next year!

So come on everyone, lets try hard and have an even better year in 2010 and exceed our previous profit sharing records! Lets show we can do it by being the very best in whatever we do!!!