A ground-breaking initiative has empowered employees of one of the area’s most successful businesses by making them custodians of the company that employs them.
The Triple C Workers Trust was launched last month although the owner, Anton Ferreira, has long held a vision to uplift his loyal workforce of 130.
Operating from Malonjeni, on the Nquthu road, Triple C is one of the biggest feedlots in KZN with 23000 cattle.
Mark Downs, a trustee of the Workers Trust, explained at the launch – attended by Mayor Thulani Mahaye and other dignitaries – that Standard Bank had come on board with Triple C securing a loan of R18-million to buy cattle on behalf of the employees.
“The employees, in the form of the trust, will be customers (custom feeders) of Triple C Feedlot. All profits made by the trust in respect of the cattle, after paying expenses and tax, will be shared equally among all employees, irrespective of their positions within the company, their age, race or gender.
“All employees who have been working for the company for three years or more, and have a clean disciplinary record, will be beneficiaries of the trust. This includes managers and employees alike and all beneficiaries will receive exactly the same dividend.
“Employees will feel empowered to take ownership of their functions at the company as they will essentially be contributing to their own business. The more efficient and effective the operations of the company are, the more successful this operation is likely to be. “The main aim is to increase the number of cattle owned by the trust on a yearly basis and allow this project to grow from strength to strength. Once the trust has paid back the bank loan, it will surely generate large profits and substantially increase the earning potential of the employee of Triple C Feedlot.
“The first dividends will most probably be paid in January 2016, once the first batch of animals are sold.”
Labour intensive
Mr Ferreira told workers and guests that feed-lotting is a labour-intensive business and the company is only as strong as its workforce.
“We want the trust to grow far in excess of R18-million – it must grow to over R100-million. Workers will also learn about business – expenses, losses, profits and how to manage their own finances. We believe this move will secure the future of both the company and our workers.”
Mayor Mahaye was moved by the initiative calling it ‘a fine day in the life of our rainbow nation and town’.
“Triple C is leading the way for other businesses to follow. We are privileged to have people like this in our community who care and are dynamic.”
The Workers Trust committee comprises: Anton Ferreira (main trustee), Mari Sadi (management representative), Sanele Ndima and Jetrom Buthelezi (employee representatives) and Mark Downs (external trustee).