Worthington Industries

Worthington Industries

 Worthington Industries is a metal manufacturing company established in 1955. Worthington’s headquarter is based in Columbus, Ohio. Worthington is operational in the United States, Portugal, Canada, Mexico, Poland, Turkey, and Australia. The industries have three primary operations: engineered cabs, steel processing, and pressure cylinders.  Hence, Worthington industries serve a large selection of markets, including automotive, office equipment, home appliances, agricultural implements, leisure and recreation, building, hardware, lawn and garden, and furniture. Worthington industries dominate in the steel manufacturing industries. Its management system has contributed Worthington outperforming its competitor through its philosophies, value, organization structure, and reward programs.

Worthington Industries is the leading independent processor of flat-rolled steel in the United States and a global supplier of pressure cylinders. Steel processing segment in Worthington process flat-rolled steel to mainly automotive industries and home, garden, and office appliances. The pressure cylinder segment manufactures and sells tanks, hand torches, expansion tanks, filled and unfilled pressure cylinders, well water, and oil and gas equipment. The engineered cab segment design and manufactures custom-engineered open and enclosed cabs. Besides, the segment designs operation station and manufacture fabrications for heavy mobile equipment used in mining, military, agriculture, and construction industries. The 677 Worthington industries recorded a revenue of $3,518.6 million as of 2018, an 18.8% percentage change in income from the previous year. Worthington industries have a total of 12,000 employees.

Worthington Industries has been dominant in the America industry, especially in the manufacturing of steel. The dominance in the industry is due to the management system in the organization. Worthington industry’s golden rule philosophy has a significant contribution to ensuring the company is on par with its competitors. The golden philosophy ensures that the suppliers, employees, customers, and shareholders of the Worthington Industries are treated as the company would like them to be treated. Worthington Industries’ main goal is to ensure there is consistent growth in earnings per share. Through growth in dividends, the shareholders earning increases, and the value of their investments improve. Shareholders are satisfied through their earning, which encourage shareholders to invest more in the company.

Worthington industries have in mind that customers are the backbone of a successful corporate since, without customers, products produced and service provided will be nothing. Hence, the industries put in the effort through research and innovation to ensure that customer’s qualities on service and products are delivered. Proper respect and providing quality products and services has enabled the retain most of their customers.

The industries also treat the suppliers in a way they want to maintain a working relationship. The industries recognize that they cannot make a sustainable profit without having suppliers who provide quality raw materials to be processed. Thus, the corporate has kept the culture of being loyal customers to suppliers who maintain and met the quality and services requirements. Excellent working relationship with the suppliers ensures our industries receive the best quality raw materials and in turn, the company provides quality products to the customers. Therefore, Worthington industries are a competitive advantage over other companies.

Reward programs in Worthington have contributed to the company’s dominance in the manufacturing industry. Providing a smart employee benefits package attracts the top talents and retain valuable employees in an organization. Besides, Worthington industries believe that employees are their most valuable asset in the company. The company only expects honest work, and in turn, they give reasonable pay to the employees. Worthington industries offer lucrative rewards to their employees as a payback to their excellent job. The company first offers career benefits. Career benefits include coaching and mentoring programs. The company coaches its employees on career planning and skills. The company also provides tuition reimbursement to its employees where an employee can undertake a college course or degree, and the company pays 50% of the tuition fee.

Worthington Company also offers health benefits to its employees. The employee’s family members can also use the health benefits. The health benefits include affordable health insurance, dental insurance, which also covers reconstruction surgery, nutritional and psychological counseling, maternity support program, and health plan initiatives. Besides, the company offers a telehealth and vision plan. Worthington industries provide health benefits to ensure their employees are physically, mentally, and emotionally healthy. Thus, they can do their jobs without any distractions.

The company also offers financial benefits to its employees and their family members. Worthington company ensures employees are well prepared for their retirement. Thus, the company offers a 401k plan where employees contribute up to 4% of their salary, and the company match 50% of the contribution. The company also offers free life insurance for team members. Besides, the company provides commuter benefits where it covers all transportation expenses regardless of the distance from work and home. The company also gives bonus rewards to hard-working employees to their contribution to projects and cooperation with other team members. Besides, the company offer paid volunteer time off, parental leave, childcare discount, and disability pay.

Worthington Industries has been dominant in the manufacturing industry due to the proper management system in the organization. The company observes its philosophical golden rule where the company treats its customers, employees, suppliers, and shareholders as they like. The excellent relationship ensures that shareholders investment more, suppliers provide quality raw materials, employees serve the customers efficiently, and the company retains most of its customers. A proper management system in the organization has enabled the company to outperform its competitors.