Human Resource Demographics
Overall Direction
The new business opportunities in Beralcast, Powder Metallurgy, Specialty Metals, and Advanced Recycling Technology have created outstanding career opportunities at Starmet. Engineering, Research, Marketing, and Production professionals will all enjoy significant career opportunities at Starmet as we work to achieve our high growth goals.
Staffing
Research and Development and Engineering Currently the R&D and Engineering Departments have 18 employees; six of whom have Doctoral Degrees. The investment made in hiring these talented engineers reflects the Company's current focus on technology and new product development. Also, the educational level of our employees within the entire organization has increased since 1993.
Our goal is to continue to attract and retain highly qualified employees at full staffing levels to meet the production requirements of the sales forecast. We will accomplish this goal through advertising, employee referrals, employment agencies, internal promotions and transfers and internships.
Compensation
Starmet's compensation system is based on job descriptions that are compared to benchmark surveys in similar geographic markets. New hires are evaluated against the current salary data for the benchmark position. Employees receive performance evaluations at 3, 6 and 12 months during the first year of employment. On an annual basis, each employee's salary is reviewed for equity based on the employee's performance appraisal, the budget, and the individuals current salary. We recognize we must pay for performance in order to reward, attract and retain our highly technical workforce.
Employee Relations
Starmet has a corporate-wide Open Door Policy. Any employee may discuss issues or concerns with any member of the management team. Also, the Company President, Bob Quinn holds weekly breakfasts with a random group of employees to communicate company goals and answer questions. Every quarter, we host an All Employee Meeting to communicate the previous quarter's financial results and to provide a forum for employee questions.
Most employees are involved in the ISO-9002 teams. These teams are cross functional and help improve corporate communications and information flow.
Our company culture is one of an extended family. The Company sponsors an annual Open House for employees and their families each summer and also supports an annual Holiday Party. Employee committees organize both events. The Company provides financial support for several employee sports teams. We have an Employee Suggestion Program. An employee team reviews suggestions and awards are given for implemented suggestions.
We encourage employees to become involved in their communities, and a recent employee survey showed than our employees volunteer their time in approximately 100 towns and community agencies. At Starmet, employees and management have many avenues to interact and maintain open lines of communication and foster an atmosphere of reciprocal feedback.