At Cole's Salon and Spa in Burnsville, the stylists don't just rent chairs. They own them.
Doug Cole founded the company as a children's barbershop 35 years ago. But he's since transformed it into a full-service salon with $22 million in revenues and five locations that are 44 percent owned by 335 employees.
"We don't know of another ESOP [employee stock ownership plan] salon in the business. From what we know, it's pretty rare," said Chief Operating Officer Melissa Hanson, adding that scores of workers like her have been there 20 years or more.
Rarer still, each quarter Cole's issues each employee $250 to $500 to spend on health insurance, dependent care costs or 401(k) savings plans. "That's unusual. Traditionally in our industry, benefits are not available," Hanson said, adding that workers generally make $25,000 to $70,000 a year.
The assortment of benefits are just some of the reasons Cole's Salon and Spa won the No. 1 slot on the Minnesota list of 30 midsize Top Workplaces as ranked by WorkplaceDynamics. Cole's, which has two branches in Eagan and one each in Burnsville, Savage and Apple Valley, was nominated for the honor by its employees.
Other Twin Cities employers that rounded out the top five list of midsize workplaces are Right At Home in Bloomington; Pediatric Home Service in Roseville; Minneapolis ad agency Colle+McVoy, and Noran Neurological Clinic in Minneapolis.
Each of these firms has between 150 and 499 employees. Their managers look beyond sales and profits to make sure staffers feel valued, loyal and healthy, while having fun in the process, employees said in a confidential survey. Many cited great benefits, corporate philanthropy, community sponsorships and celebratory parties as unexpected perks that came with the job.
Family-owned Miller Auto Plaza — the St. Cloud-based dealership is ranked 26th on the list — is renowned for hosting Red Cross blood drives, food drives, Adopt-A-Highway cleanups and customer appreciation lunches. The events make employees "feel good about their community and themselves," said Angie Neisinger, Miller human resource manager.