The Great Recession of 2008 tested companies across the country. Construction slowed, financial pressure grew and difficult decisions had to be made.
Clyde Companies was not immune. The company needed to find significant ways to reduce costs, and one proposal could have saved millions of dollars: reduce the company’s 401(k) match.
Wilford Clyde’s answer was immediate.
“The last thing I’m going to do is cut the 401(k) of these team members. If anyone works for me for any amount of time, I want them to be able to retire well.”
The company would have to find another way.
That decision reflected something deeper than a financial calculation. It showed what it means to value people when doing so comes at a real cost.
It is easy to talk about supporting team members when business is strong. The harder test comes when conditions change and every expense is under review. In 2008, Clyde Companies chose to protect a benefit that helped employees prepare for life after work.
The decision also reflected the long view that has guided the company for generations. Team members were not viewed only in terms of the work they could complete that year. Their futures mattered too.
Clyde Companies still believes its success depends on the people behind the work. Valuing people means creating opportunities, supporting their growth and making decisions with their long-term well-being in mind.
The challenges facing the company today may look different from those of 2008, but the standard remains the same.
We value people when times are good.
More importantly, we value people when the choices are difficult.
