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Build A Bear
Transcript of Build A Bear
"At Build-A-Bear Workshop®, our mission is to bring the Teddy Bear to life. An American icon, the Teddy Bear brings to mind warm thoughts about our childhood, about friendship, about trust and comfort, and also about love. Build-A-Bear Workshop embodies those thoughts in how we run our business everyday" (www.BuildABear.com)
Sharon Price John: New President and CEO as of June 2013 (former Maxine Clark)
St. Louis, Missouri
Approximately 200 employees
Cub Advisory Board
10 person Board of Directors
Full-time summer college "Bear" interns
Warehouse in Columbus, Ohio
Approximately 150 employees
2013 Sales: $379.1 million
2013 Gross Profit: $158.4 million
2013 earnings for share: up $0.17
Why is Build a Bear a
Great Place to Work?
"Paying for the Experience, Not the Product"
Build a Mascot
Build a Sound and Embroidery
"Build-A-Bear didn't invent teddy bears or the factories that make them, we just invented a unique experience around them" - Maxine Clark, www.BuildABear.com
Giving Back/Corporate Social Responsibility
Though Build-A-Bear closed 28 stores in the past two years, employees were all offered transfers to other locations 60 days prior to closing, and offered a financial bonus if they stayed at their home store until the closing
Average age of customers: 10
Two-thirds of employees are under age 25, 80% work part-time ("100 best companies," 2014)
Rapid growth from 1997-2008
Sales declined every year since 2008 until 2013
2012 - Closed 28 Workshop Stores
Led to 0.3% decrease in sales but a $13 million improvement in adjusted net income
Stock value increased 98%
First store created in 1997 by then CEO Maxine Clark
Currently over 400 stores in 18 countries
323 company owned in US, Canada, UK and Ireland
86 franchise stores in 14 other countries
Approximately 3,500 full and part-time employees
Full and part-time Sales Associates
Look for high energy people who enjoy working with children
Full and part-time Associate Managers
Build-A-Bear has donated over $41 million in the past 16 years to causes that support children, families, animals, and the environment
Stuffed With Hugs
Build a Bear Workshop Foundation (grants to nonprofit organizations)
Bear Hugs Foundation (children's health and wellness, literacy, World Wildlife Fund)
Health, vision, and dental coverage for all full-time and part-time employees (at least 20 hours)
401k matching for full and part-time employees
20 college scholarships each year for eligible employees
Employers offering generous benefits programs, flexibility, and investment in employees have employees with overall higher levels of motivation and job self-efficacy (Mulvaney, 2011)
flexible schedules/compressed work week
store and individual performance bonuses
30% off merchandise for employee and their immediate family
AnniBearsary and other gifts
bring your dog to work any day
on-site oil changes and dry cleaning
lunch and learn opportunities at every site
Associate Appreciation Month - extra days pay
paid day off during birthday month
online corporate perks/discounts for all employees and their families
Bonuses, birthday and holiday gifts/recognition, educational benefits, and ability to participate in trainings are all factors reported to influence employee motivation on the job (Ramanauskiene, Vanagiene & Klimas, 2011)
Rewarding work, caring employers, and employee perception of management leads to increased morale and personal investment in the organization (Davis, 2013)
Trust in management's abilities, that they will share important information, that best interests are in mind, and that rewards will be distributed fairly leads to higher employee satisfaction and less turnover (Sousa-Lima, Michael & Caetano, 2013)
92% of employees believe management is competent at running the business
90% say people would only be laid off as a last resort
88% say management has a clear view of where the organization is going and how to get there (us.greatrated.com)
9 out of 10 employees agree that the nature of their work makes it more meaningful and "more than just a job", ("Great places to," 2014)
Employee turnover rate is half the industry average
Increased profitability, productivity, and growth
Benefits, recognition (Davis, 2013)
"I've been with the company for seven years. It has changed drastically, but the most unique thing about this place is it is a family not a business" - Current employee, ("Great places to," 2014)
Friendly cooperative co-workers and supportive working environment lead to employee retention and develops organizational commitment (Davis, 2013)
94% of employees say people care about each other
92% agree the company shares a "family" or "team" feeling ("Great places to," 2014)
"Everyone who works here is just so happy all the time, you can't be angry or sad here as an employee because when you walk in everything on your mind goes away and you just embrace the contagious happiness of the staff and the children we serve. I work with amazing people and that is what makes this company a great place to work" ("Great places to," 2014)
Appraisal of emotions, optimism, and social skills (Moon & Hur, 2011)
Retrieved from www.BuildABear.com
Retrieved from http://www.marketwatch.com/investing/stock/bbw/financials
100 best companies to work for. (2014, March 14). Retrieved from http://
Build-a-bear. (2014, March 15). Retrieved from www.BuildABear.com
Build-a-bear workshop inc.. (2014, March 14). Retrieved from http://
Davis, T. (2013). A qualitative study of the effects of employee retention on the
organization. Insights to a Changing World Journal, 2013(2), 25-112.
Great places to work. (2014, March 14). Retrieved from http://us.greatrated.com/
Moon, T. W., & Hur, W. (2011). Emotional intelligence emotional exhaustion, and job
performance. Social Behavior and Personality, 39(8), 1087-1096.
Mulvaney, M. (2011). A study of the role of family-friendly employee benefits
programs, job attitudes, and self-efficacy among public park and recreation employees. Journal of Park and Recreation Administration, 9(1), 58-79.
Ramanauskiene, J., Vanagiene, V., & Klimas, E. (2011). Suggestions for increasing
employee motivation to work. Rural Development, 5(1), 204-209.
Sousa-Lima, M., Michael, J., & Caetano, M. (2013). Clarifying the importance of trust in
organizations as a component of effective work relationships. Journal of Applied Psychology, 43(2), 418-427.
Where are Build-A-Bear employees getting their job satisfaction from?
Do you think Build-A-Bear employees have a high level of employee engagement? What could be influencing this?
How is Build-A-Bear's transparency with employees impacting their psychological capital (ex: self-efficacy, optimism, hope, resiliency)?