Acuity Brands, Inc. (NYSE: AYI), through its subsidiaries, engages in the design, production, and distribution of lighting equipment and specialty products worldwide. The company was founded in 2001 and is based in Atlanta, Georgia.[3]
Acuity Brands has spun off its specialty chemicals business effective November 1, 2008. The new company is known as Zep Inc. and is traded on the NYSE under the ticker symbol ZEP.
Employee turnover has become a major topic of conversation in corporate offices, at conventions, in restaurants, and on airplanes around the world. It's a ubiquitous, all-consuming problem that faces practically all employers. Even those with relatively good retention rates (relative to their industry) are concerned that turnover is too high for their organization. There is a common understanding that uncontrolled employee turnover is not good, placing high retention in the same category as motherhood and apple pie. But while corporate leaders agree that too much turnover is not a good thing, too many view the problem as if it were a mosquito--a nuisance, not really critical. These leaders need to wake up and recognize that that "mosquito" is carrying a deadly virus. When you look carefully at the numbers, it becomes painfully evident that uncontrolled employee turnover can kill an organization. This "real and present danger" is a threat today and will be tomorrow. As we move through the decade, recovering from excessive turnover will be increasingly difficult and costly. Consider this exposure. Who leaves your company as a result of dissatisfaction? Typically the workers who leave are the most competent, who become frustrated at not being able to do their job well and achieve at high levels. The more talented your employees are, the more employment options are available to them. If talented workers don't get the support they need from supervisors or top management, they feel personally devalued because they're not producing to their own personal capacity. They raise issues and try to make changes for improvement, but are often rebuffed. These highly talented workers are not bound to you; they can easily move to another employer.
Empty-Chair Attrition
During the late 1990s, we experienced unprecedented employee turnover. "If I don't like it here, I can leave,” became the mantra. More employees would simply walk off the job, not even caring about collecting their paychecks. Some would quit during the first week--even the first day--on the job. Service employers such as hotels, restaurants, and service stations complained that some employees wouldn’t even show up for their first day of work. Then manufacturers began reporting the same problem. Depending on people coming to work when expected became a pervasive issue. When these employees left, their chairs--or positions--were empty. Now those jobs had to be filled...or eliminated. To fill the chairs, people would be transferred or promoted from within or hired from the outside. Either way, the process was time-consuming, resource-consuming, and costly to the employer in many ways. You’d think employers would get the message, but too often they just don’t get that empty-chair attrition--uncontrolled employee turnover--is a major (avoidable) expense that can devastate the bottom line.
Warm-Chair Attrition
Warm-chair attrition is characterized by people who are disillusioned and are thinking of leaving. Their motivation is severely diminished; they have little or no engagement with the organization's mission or their work. With warm-chair attrition, people quit psychologically. They simply "attend" work. Their hearts are no longer in their performance. Absenteeism and tardiness are high and attitudes are negative, but they won't quit physically. Complacent, they are content to accept the income and the position they have. Their ambition has evaporated. Their "get up and go" has gotten up and gone; their motivation has been dulled by the way they have been treated by "management". Unfortunately, many of these employees have been around for a long time, have learned how to stay out of trouble, and have become relatively incompetent compared to the job that has to be done. Consequently, employers are staffed with incompetents who cannot be terminated because we need their warm bodies in place and because there seems to be no one else to hire. Complicating the issue, supervisors do not know how to identify poor performers, let alone deal with them through discipline or development. This uncomfortable situation perpetuates itself, causing frustrated, competent employees to quit to avoid carrying the extra weight of their less productive coworkers. When unemployment rates rise, warm-chair attrition also rises, because employees have made a mental decision to leave although they have insufficient opportunities for other employment. During the economic slowdown of 2000-2002, employers experienced high warm-chair attrition. Imagine the impact on productivity, morale, and profits. These not-really-here employees are among the first to leave as the economy heats up. Two issues to consider: First, while some managers and co-workers will be glad to see them go, the remaining load of poorly done work will be a new burden. Second, many of these workers will carry their baggage of disillusionment to their next jobs. Message to hiring employers: caveat emptor. Screen, test, interview, and evaluate carefully.
TIME OFF
ACUITY has a liberal vacation policy offering employees vacation in the first year of employment and two full weeks after the first year of employment. In addition, ACUITY gives credit to employees for prior full-time experience with other companies directly related to their position to meet the five-year and fifteen-year requirements for vacation.
Flex time is available allowing employees to coordinate their schedules with the needs of their team and their personal lives. Some employees can begin work as early as 6:00 a.m. and others as late as 10:00 a.m. There are 9-hour day variations that allow for a day off once every two weeks.
Paid Holidays allow all employees to enjoy their time with friends and family. Holidays include New Year's Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, the day after Thanksgiving, Christmas Eve, and Christmas Day. Eligible employees will receive Holiday pay for those days.
DRESS CODE
ACUITY 's business casual dress code allows employees to be professional yet comfortable. Weekly "Jeans Days" are enjoyed by all employees.
FITNESS CENTER
The FIRM is located in the lower level of the corporate office, where employees stay fit with free weights, a LifeFitness training circuit and LifeFitness brand aerobic equipment. The 9,800 square foot facility includes modern locker rooms with towel service, free fitness classes in a trendy aerobics room and subsidized massage therapy.
ONSITE CAFETERIA
ACUITY provides employees with a cafeteria available for breakfast, lunch and breaks. The cafeteria offers made-to-order breakfasts, hot and cold lunch, a salad bar, a sandwich bar, fresh fruits, ice cream novelties and an assortment of beverages. Subsidies by ACUITY provide employees with a variety of nutritious items at extremely attractive prices.
SAVING FOR THE FUTURE
ACUITY contributes 8% of gross salary to the ACUITY 401(k) Plan every payday, even if the employee contributes nothing. Employees can defer ANY whole percentage of their income on a pre-tax or post-tax Roth basis into a broad combination of investment options. This deferral decreases employees' federal income tax -- another way to save.
PREVENTIVE HEALTH AND DENTAL
The focus is on employees' preventive health with a Wellness Benefit, minimal co-pays for prescription drugs and doctor visits. A network of healthcare providers allows ACUITY to offer 90% co-insurance to employees after satisfying deductibles.
VISION PLAN
Preventive care for employees and their families is offered through the ACUITY Voluntary Vision Plan. A network of eye care doctors offer discounted prices and minimal co-payments to the ACUITY Voluntary Vision Plan participants.
EMPLOYEE ASSISTANCE PROGRAM
Free to employees and their families. This confidential counseling and referral service shows ACUITY truly cares.
FLEXIBLE SPENDING ACCOUNTS
ACUITY employees contribute to the plan, and then reimburse themselves for eligible health and dependent care expenses. Employees' federal income tax is reduced by using flexible spending accounts.
LIFE INSURANCE/AD&D
ACUITY pays the entire premium for employees' life insurance coverage at 300% of employees' salary.
INCOME PROTECTION
Employees' income is protected through a liberal salary continuation program for sick or injured employees. Salary continues at 100% until an individual is eligible for ACUITY-paid Long-Term Disability.
EDUCATIONAL BENEFITS
Tuition reimbursement program rewards employees who are interested in life-long learning . Job related courses in management, insurance, and leadership are reimbursed.
RECOGNITION
Employees receive cash at service intervals throughout their career. A luncheon with corporate leadership and pictures in the employee newsletter celebrate the recognition events.
SCHOLARSHIPS
Daughters and sons of employees who qualify are eligible to apply for up to $3,000 in individual scholarships. ACUITY calls it an investment in the future.
CORPORATE FACILITIES
ACUITY employees enjoy a beautifully designed environment. Passers-by note the enticing landscape design enjoyed year-round by all employees and visitors. Indoor and outdoor lounge areas create a relaxed atmosphere where employees can enjoy a break or lunch. An extensive art collection is displayed throughout the facility providing unique ambience to the work environment. Other amenities at our corporate location include the fitness center, the in-house cafeteria, Mother's Rooms, kitchen-like facilities, and a private dining area.
Acuity Brands has spun off its specialty chemicals business effective November 1, 2008. The new company is known as Zep Inc. and is traded on the NYSE under the ticker symbol ZEP.
Employee turnover has become a major topic of conversation in corporate offices, at conventions, in restaurants, and on airplanes around the world. It's a ubiquitous, all-consuming problem that faces practically all employers. Even those with relatively good retention rates (relative to their industry) are concerned that turnover is too high for their organization. There is a common understanding that uncontrolled employee turnover is not good, placing high retention in the same category as motherhood and apple pie. But while corporate leaders agree that too much turnover is not a good thing, too many view the problem as if it were a mosquito--a nuisance, not really critical. These leaders need to wake up and recognize that that "mosquito" is carrying a deadly virus. When you look carefully at the numbers, it becomes painfully evident that uncontrolled employee turnover can kill an organization. This "real and present danger" is a threat today and will be tomorrow. As we move through the decade, recovering from excessive turnover will be increasingly difficult and costly. Consider this exposure. Who leaves your company as a result of dissatisfaction? Typically the workers who leave are the most competent, who become frustrated at not being able to do their job well and achieve at high levels. The more talented your employees are, the more employment options are available to them. If talented workers don't get the support they need from supervisors or top management, they feel personally devalued because they're not producing to their own personal capacity. They raise issues and try to make changes for improvement, but are often rebuffed. These highly talented workers are not bound to you; they can easily move to another employer.
Empty-Chair Attrition
During the late 1990s, we experienced unprecedented employee turnover. "If I don't like it here, I can leave,” became the mantra. More employees would simply walk off the job, not even caring about collecting their paychecks. Some would quit during the first week--even the first day--on the job. Service employers such as hotels, restaurants, and service stations complained that some employees wouldn’t even show up for their first day of work. Then manufacturers began reporting the same problem. Depending on people coming to work when expected became a pervasive issue. When these employees left, their chairs--or positions--were empty. Now those jobs had to be filled...or eliminated. To fill the chairs, people would be transferred or promoted from within or hired from the outside. Either way, the process was time-consuming, resource-consuming, and costly to the employer in many ways. You’d think employers would get the message, but too often they just don’t get that empty-chair attrition--uncontrolled employee turnover--is a major (avoidable) expense that can devastate the bottom line.
Warm-Chair Attrition
Warm-chair attrition is characterized by people who are disillusioned and are thinking of leaving. Their motivation is severely diminished; they have little or no engagement with the organization's mission or their work. With warm-chair attrition, people quit psychologically. They simply "attend" work. Their hearts are no longer in their performance. Absenteeism and tardiness are high and attitudes are negative, but they won't quit physically. Complacent, they are content to accept the income and the position they have. Their ambition has evaporated. Their "get up and go" has gotten up and gone; their motivation has been dulled by the way they have been treated by "management". Unfortunately, many of these employees have been around for a long time, have learned how to stay out of trouble, and have become relatively incompetent compared to the job that has to be done. Consequently, employers are staffed with incompetents who cannot be terminated because we need their warm bodies in place and because there seems to be no one else to hire. Complicating the issue, supervisors do not know how to identify poor performers, let alone deal with them through discipline or development. This uncomfortable situation perpetuates itself, causing frustrated, competent employees to quit to avoid carrying the extra weight of their less productive coworkers. When unemployment rates rise, warm-chair attrition also rises, because employees have made a mental decision to leave although they have insufficient opportunities for other employment. During the economic slowdown of 2000-2002, employers experienced high warm-chair attrition. Imagine the impact on productivity, morale, and profits. These not-really-here employees are among the first to leave as the economy heats up. Two issues to consider: First, while some managers and co-workers will be glad to see them go, the remaining load of poorly done work will be a new burden. Second, many of these workers will carry their baggage of disillusionment to their next jobs. Message to hiring employers: caveat emptor. Screen, test, interview, and evaluate carefully.
TIME OFF
ACUITY has a liberal vacation policy offering employees vacation in the first year of employment and two full weeks after the first year of employment. In addition, ACUITY gives credit to employees for prior full-time experience with other companies directly related to their position to meet the five-year and fifteen-year requirements for vacation.
Flex time is available allowing employees to coordinate their schedules with the needs of their team and their personal lives. Some employees can begin work as early as 6:00 a.m. and others as late as 10:00 a.m. There are 9-hour day variations that allow for a day off once every two weeks.
Paid Holidays allow all employees to enjoy their time with friends and family. Holidays include New Year's Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, the day after Thanksgiving, Christmas Eve, and Christmas Day. Eligible employees will receive Holiday pay for those days.
DRESS CODE
ACUITY 's business casual dress code allows employees to be professional yet comfortable. Weekly "Jeans Days" are enjoyed by all employees.
FITNESS CENTER
The FIRM is located in the lower level of the corporate office, where employees stay fit with free weights, a LifeFitness training circuit and LifeFitness brand aerobic equipment. The 9,800 square foot facility includes modern locker rooms with towel service, free fitness classes in a trendy aerobics room and subsidized massage therapy.
ONSITE CAFETERIA
ACUITY provides employees with a cafeteria available for breakfast, lunch and breaks. The cafeteria offers made-to-order breakfasts, hot and cold lunch, a salad bar, a sandwich bar, fresh fruits, ice cream novelties and an assortment of beverages. Subsidies by ACUITY provide employees with a variety of nutritious items at extremely attractive prices.
SAVING FOR THE FUTURE
ACUITY contributes 8% of gross salary to the ACUITY 401(k) Plan every payday, even if the employee contributes nothing. Employees can defer ANY whole percentage of their income on a pre-tax or post-tax Roth basis into a broad combination of investment options. This deferral decreases employees' federal income tax -- another way to save.
PREVENTIVE HEALTH AND DENTAL
The focus is on employees' preventive health with a Wellness Benefit, minimal co-pays for prescription drugs and doctor visits. A network of healthcare providers allows ACUITY to offer 90% co-insurance to employees after satisfying deductibles.
VISION PLAN
Preventive care for employees and their families is offered through the ACUITY Voluntary Vision Plan. A network of eye care doctors offer discounted prices and minimal co-payments to the ACUITY Voluntary Vision Plan participants.
EMPLOYEE ASSISTANCE PROGRAM
Free to employees and their families. This confidential counseling and referral service shows ACUITY truly cares.
FLEXIBLE SPENDING ACCOUNTS
ACUITY employees contribute to the plan, and then reimburse themselves for eligible health and dependent care expenses. Employees' federal income tax is reduced by using flexible spending accounts.
LIFE INSURANCE/AD&D
ACUITY pays the entire premium for employees' life insurance coverage at 300% of employees' salary.
INCOME PROTECTION
Employees' income is protected through a liberal salary continuation program for sick or injured employees. Salary continues at 100% until an individual is eligible for ACUITY-paid Long-Term Disability.
EDUCATIONAL BENEFITS
Tuition reimbursement program rewards employees who are interested in life-long learning . Job related courses in management, insurance, and leadership are reimbursed.
RECOGNITION
Employees receive cash at service intervals throughout their career. A luncheon with corporate leadership and pictures in the employee newsletter celebrate the recognition events.
SCHOLARSHIPS
Daughters and sons of employees who qualify are eligible to apply for up to $3,000 in individual scholarships. ACUITY calls it an investment in the future.
CORPORATE FACILITIES
ACUITY employees enjoy a beautifully designed environment. Passers-by note the enticing landscape design enjoyed year-round by all employees and visitors. Indoor and outdoor lounge areas create a relaxed atmosphere where employees can enjoy a break or lunch. An extensive art collection is displayed throughout the facility providing unique ambience to the work environment. Other amenities at our corporate location include the fitness center, the in-house cafeteria, Mother's Rooms, kitchen-like facilities, and a private dining area.
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