Farm Bureau Recognized for Outstanding Business Achievement
Virginia Farm Bureau Insurance has been recognized for outstanding performance in the area of “open book management,” a style of business management designed to enhance a company’s culture, efficiency, productivity and profitability.
“This award is particularly satisfying because it celebrates so many of the attributes we as a company are most invested in and most proud of,” said Richard Rivers, executive vice president & general manager. “Namely, we believe in transparency, building a culture based on teamwork and trust and maintaining a high level of customer satisfaction and loyalty. By operating in such a manner, we’re able to keep any rate increases at a minimum.”
The announcement was made by The Great Game of Business Company, a Springfield, Mo.-based firm dedicated to promoting open-book management across the private and public sectors, during its 2009 annual conference in St. Louis, Mo. Virginia Farm Bureau was chosen from among 30 nominees and was one of three companies recognized for their achievement in 2009.
Virginia Farm Bureau Insurance was recognized for its underwriting profit (2008 represented a fifth consecutive year of underwriting profit and increased surplus growth), teamwork, customer satisfaction rate of 96 percent, employee retention rate of 93 percent and for its award-winning culture.
In recognizing Virginia Farm Bureau, The Great Game of Business Company noted how the company trains employees to become business literate and understand financial statements, thereby empowering them to use that information in cost cutting and quality improvement. All employees are seen as trusted business partners on an equal footing and are rewarded fairly for the company's success.
About The Great Game Company:
The Great Game Company a subsidiary of SRC Holdings Corporation, promotes a special brand of open-book management developed and made popular by its founder and CEO Jack Stack. The organization holds an annual conference to promote open-book management in St. Louis, Mo.