The Winter-Dent Difference & Why It Matters

by Winter-Dent | Dec 22, 2020 | Capitve Insurance

The Winter-Dent Difference

Our positioning statement is “Humans Helping Humans.” For us, this statement embodies a philosophy that drives all of our interactions and decisions – with each other, with our customers, and with the communities we serve. Here’s how:

People

First of all, we are an ESOP-structured company. ESOP (Employee Stock Ownership Plan) means that since our employees are also owners, each of us has a tangible stake in the company’s success. We view every client interaction, ever decision, every strategy through the lens of long-term success. We are more passionate about client care since we have a vested interest in meeting your goals – because when we meet your goals, we automatically meet our own.

Innovation

Our passion for constant improvement means that we’re always on the look-out for ways to work with our clients and with each other in a more efficient and effective fashion. We embrace the technology and tools that have been vetted thoroughly for being best-in-class resources in risk management for our clients. Additionally, we partner with providers locally, nationally and globally, that align with our mission of bringing solid, smart and innovative relationships to the table on your behalf.           

Process

Any insurance agency can quote and sell plans. But what separates the good from the great is the process of evaluating needs. Our approach is to fully understand your unique situation and then custom tailor solutions that are right for you. 

Our process builds trustworthy and long-lasting relationships with our clients, year in and year out. We have the products…but what actually sets us apart is a proven process for assessing and managing your risk. You can relax knowing you can rely on us as an advisor for you rather than just another place to buy insurance.

Communication

This is the essence of Humans Helping Humans – never forgetting that we’re all people who care about and depend on each other for success. Our clients are our friends and neighbors, all with hopes and dreams, fears and worries. For that reason, we pledge to be disarmingly honest. We pride ourselves on telling you what you need to hear…not necessarily what you want to hear.

Communication is not just about who is connecting, but also HOW they’re connecting. Tying in with our commitment to technology and utilization of the right tools, we’re also leveraging things like blogs, social media and other forms of marketing to make sure we meet you where you are and are constantly arming you with easy access to helpful and relevant information.

Constant Improvement

We’re never satisfied. We always debrief and analyze. We never stop critiquing ourselves, our systems and partnerships to improve what we offer and how we offer it to you. We are insatiable learners who are driven to constant training and education – and frankly, in the world of risk management where things are constantly evolving – you should expect nothing less. You can be confident knowing that we’re always challenging ourselves to be better and as a result, to do better work on your behalf. Bottom line, we’re never satisfied…so that you can be.

Operational Excellence

You want service quickly, easily and comprehensively. You also want to be able to trust that your solutions will be there for you when you need them, in the way that they were promised to do so. Bottom line, you expect flawless execution – and it should reassure you that we do too. At Winter-Dent, we have specialists in many different areas of risk management: everything from personal lines, financial services to employee benefits, healthcare, worker’s compensation and more. Because it’s practically impossible for one person to know everything, we have perfected the art of acting as your personal and commercial risk concierge. You no longer have to work through many different agencies but can instead work with one. We see the whole picture and therefore will provide you with customized and comprehensive solutions – all under one roof.

Accountability

Accountability is a word that so many people dance around. Not us. Because insurance is such an intangible – until you need it – we choose to take the fluff out of the conversation. You come to us trusting that we’ll develop a strategic plan and then follow-through. You expect us to do what we say we’re going to do. If we don’t, frankly, you should fire us. We embrace a “no BS” philosophy of business. Our high level of accountability frees you to do what you do best without worry because you know we’ve got you covered.

Community Involvement

Again, it’s all about Humans Helping Humans. We live in and support the communities we serve. These are the areas where we shop and where our kids go to school. We realize the power of people working together to serve the community does more than meet a need, it promotes the growth, success and enjoyment of what matters most in life. We believe that it is our responsibility as community members to give back. You’ll see lots of great stories about what we’re up to on our Facebook page!

Why It Matters

I guess you could say that, while being a leader in cutting-edge resources, we’re still a bit old-fashioned. Founded in 1912, we’ve never forgotten our roots. Our founding philosophy of client satisfaction and loyalty sets us clearly apart from others in the industry. Our commitment to a relentless pursuit of excellence is working. We have grown since 1912 and are serving clients not only in Central Missouri but throughout the United States and around the world.

We’d love a chance to help you as well.

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Why ESOP Matters: As an Employee and as a Customer

by Winter-Dent | Nov 17, 2020 | Winter-Dent Difference

Typically, no one cares more about a company’s success than the owner. They have the most to gain by its success and also the most to lose. Wouldn’t it be great if there was a way to create that same sense of ownership in the minds of every employee and provide an incentive for them to work hard and stick around?  An ESOP-structured company does just that.

The impact is measurable. The organizational performance and productivity of the employees tend to be much more positive than non-ESOP companies. Additionally, 76% of companies that go the ESOP route report faster-growing revenues and 70.% report greater profitability. Bottom line, employee ownership matters…for the company, the employee-owners and their customers. 

What Is an ESOP?

An Employee Stock Ownership Plan, or ESOP, is a way to give employees a tangible stake in the company’s success by providing stock ownership to everyone.

Each employee’s account is credited with an appropriate number of shares of company stock or cash contributions throughout the employee’s employment. After retirement, death, disability, or other termination of service, the employee’s account is distributed to them (or their beneficiaries) in shares of stock, cash, or a combination of both. The amount of disbursement is determined by applying the current fair market value of the company stock at the time of separation in proportion to the number of shares in the employee’s account.

Since the amount depends on the value of the stock at the time it is disbursed, there’s a continuing incentive for the employee to continue to improve the company’s bottom line.

Tax-free contributions can be made by the employee, and for this reason, an ESOP is designed to benefit longer-term employees who are there the longest. There is typically a vesting period before benefits can be earned. The longer an employee stays with a company, the more vested they become, and the greater the benefit that can be realized.

Employee Stock Ownership Plans benefit employers, employees, and customers.

ESOP Employer Benefits

One of the biggest frustrations that businesses face is employee turnover. In some industries, rates can be as high as 30%. ESOP companies report dramatically lower turnover than average. By keeping the best employees on board longer, companies can reduce recruiting and training costs while avoiding the lost productivity that occurs during onboarding.

While working, employees understand how they benefit from cost-savings. They tend to be more proactive about acting in the company’s best interest from turning off the lights to providing outstanding customer service.

ESOP companies may also have a better chance of dealing with economic uncertainty. During the past two recessions, ESOP companies had half the rate of bankruptcies or liquidation versus publicly-traded companies.

ESOP Employee Benefits

Very few companies provide retirement benefits any more. If they do, they’re typically in the form of a 401k plan that may or may not offer any company contribution. ESOPs, however, build retirement funds over time without any monetary investment by the employee. Research has demonstrated that ESOP retirement benefits are typically larger and more equitably distributed. That’s something work sticking around for.

Employees at ESOP companies feel though the have a bigger voice in decision-making. This makes them more engaged. When they feel their performance matters not just for the company but for themselves and their co-workers, it leads to a greater sense of job satisfaction.

Employees are more likely to surface issues quickly, act in the best interest of the company, and solve problems. Employee ownership improves trust in the company and fosters a greater sense of teamwork.

ESOP Customer Benefits

Customers benefit from ESOPs, too.

They’ll get better customer service by employee-owners, who now have a vested interest in retaining customers and growing revenue.

Because there is significantly less turnover, there is a consistency that benefits the company and the customers. With experience, employees are more knowledgeable about products and services and can provide better service. Long-term relationships can lead to a better customer experience.

The Winter-Dent Difference

Winter-Dent knows ESOPs. That’s because we’re an ESOP, too. You can be sure that the experts you work with are invested in making sure your experience and solutions are the absolute best they can be.

We are all owners at Winter-Dent!

Business is risky.

Your insurance partner shouldn’t be.