Thursday, April 25, 2024

Bizzy: Unique model key to success

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Founder and chairman of Williams Industries, Ralph “Bizzy” Williams, has attributed the company’s success largely to its unique business model of rewarding employees at all levels with a share of the ownership pie.

At a gala cocktail reception on Sunday night marking the 50th anniversary of Williams Industries held at Sky Mall, Haggatt Hall, St Michael, he said one of his “blessings” in business was “to have key people around me [who] shared my understanding that jealousy, greed and ego are curses in one’s life.

“That is why I defined Williams Industries as a joint venture between the providers of capital and the providers of labour in which the two partners of the joint venture share equally in the benefits achieved,” he added.

The company has a rule that specifies 25 per cent of profit is divided among “all those who helped to create the profit and the shareholders cannot receive more in dividends than the employees receive in profit share”, the business magnate explained.

In addition, employees are rewarded with Williams Industries shares for long service. (GC)

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