VISTA Staffing Solutions began in Sugar House with one card table and three people, each with their own plastic lawn chair. Today, the three founders and their 160 colleagues have much to celebrate. VISTA, a leading provider of temporary physician staffing and permanent physician search services, has a new corporate office in downtown Salt Lake City, a 17th anniversary to commemorate, and bragging rights as the subject of a $41 million acquisition, effective January 3, 2007.
This purchase, by On Assignment, Inc., a diversified professional staffing firm headquartered in Calabasas, California, brought a unique twist to the world of corporate acquisitions. Until On Assignment bought VISTA, front-line employees owned about 40% of the company stock through an Employee Stock Ownership Program. Each VISTA employee vested in the ESOP received a significant sum, payable into their 401(k) retirement accounts. The payments were based on years of service and other variables.
The acquisition allowed the three founders of the company, Mark Brouse, Katie Abby, and Clarke Shaw, to realize their initial vision for the company-sharing equity with the people who make the business successful. Proceeds from the transaction were rolled into individual employee 401(k) retirement plans. Further, no VISTA jobs were lost during the transaction, nor are any expected to be phased out in the future.
I never dreamed I'd get a windfall like this, says Gerry Visser, a VISTA scheduling associate and rank-and-file employee for about ten years. Mark and Katie and Clarke I feel like they have really looked out for us. They thought enough of us to set up the ESOP and they have treated us like part owners all along. Then during the sale of the company, it really put some awesome funds into people's 401(k)'s.
I'm thrilled to throw this party for VISTA people and our friends in the community, says Mark Brouse, president. We've had an outstanding year. We couldn't have made it to 160 people in four cities with revenues of more than $60 million if we didn't have excellent people.
Brouse, who typically chooses a few employees at random and prepares them to present the financial results at monthly staff meetings, says, Our new office space and innovative furniture is a great way to show the staff how much we care about them. We may have founded the company in lawn chairs, but today, for our people, it's Herman Miller all the way.
During the celebration, tours of the facility will be offered so visitors may see the innovative new work stations from Vivo by Herman Miller, chosen for their private yet open design, earth-friendly qualities, and warm, inviting colors. These non-cubicles allow for privacy while on the phone and while using the computer but also provide comfortable space for collaboration when working with neighbors.
Most VISTAites have a yoga mat, stability ball, and gym bag at work with them, so we also gave each employee a locker cabinet at their work station, says Katie Abby, executive vice president. We are really focused on VISTA being a truly great place to work. The office also features an exercise facility, locker rooms with showers, and a yoga/Pilates room.
The founders are dedicated to urban renewal as well. VISTA's new facility at 275 East 200 South is well situated to participate in the downtown revitalization of Salt Lake City.
Abby, along with Brouse and Shaw, senior vice president, are so intent on employee satisfaction that they built a friendly, casual culture that allows for occasional afternoon margarita parties and fun contests. Further, they firmly believe that employees should have vibrant lives outside the office, and they lead by example. Brouse drives race cars and volunteers in the community, Abby runs marathons, and Shaw coaches youth sports.
Looking forward to the party, Visser says, Our three founders created a great company. I love coming here and just doing my job. We've worked really hard and now we have three fun things to celebrate!
About VISTA Staffing Solutions
VISTA Staffing Solutions (www.vistastaff.com) is a leading provider of temporary physician staffing and permanent physician search services. Founded in 1990, the employee-owned company helps hospitals, medical practices and government agencies solve their physician staffing challenges. VISTA is the only agency that offers short- and long-term domestic jobs, international work opportunities, and permanent placement for physicians. The company is a founding member of the National Association of Locum Tenens Organizations (NALTO).
