Construction Today - Volume 16, Issue 2 - 127
on new projects to ensure it continues to
deliver the high-quality work on which it
has built its reputation. "I always felt it's a
great opportunity for contractors to get in
trouble by overextending themselves and
taking on more work than they can fulfill,"
Perera says. "In some cases, we turn work
down because we don't feel we can do a
great job. We are very focused on making
sure the work we provide is remarkable."
In 2010, Perera sold 49 percent of the company to the employees and he continues
to hold 51 percent of company stock. He
does plan to transition to 100 percent
employee stock ownership plan (ESOP)
over the next three to five years. "When
you own a piece of the company it makes
a big difference," Perera says. "You go from
collecting a paycheck to being an employee-owner of the company. It's worked out
really well for us."
Perera Construction's foundation is
built on long-term relationships and that
extends to its employees. Perera made the
decision to become an ESOP company
because he felt it is employees who build
a company and there is no greater reward
"It just makes great business sense
when you have people who are very good
at what they do to do your best to keep
them and make them happy," Perera adds.
"It makes no business sense to take on a
project with a whole new staff you just
hired the day before to perform work with
a client you have had for many years. The
chances of losing a client become too high
of a risk. Construction is all about risk
tolerance and the best way to keep the
tolerance under control is to build your
team on a long-term basis and to get to
know each other well."
Bryan Glass, business development,
says becoming an ESOP has positively
impacted the company culture. "As an
ESOP company we feel that when Perera
is filled with leaders and team members
who think and act like owners, work is
more meaningful, fulfilling and enjoyable," he says. "When the management
team becomes transparent in all aspects
of the company and the employees are
involved in knowing the financial aspects
of the company and how we are doing on
projects, that has a direct relationship to
things being completed well."
Perera Construction strongly believes in
investing in its people. The company pays
its employees for the training they receive
and increases their salaries once it has been
completed. The company ensures its employees have the latest software to deliver
remarkable projects. Its employees specialize in Procore, Bluebeam, BIM, Autodesk
Revit, Primavera p6, on-screen takeoff,
SharePoint, Yammer, among others.
President and CEO Hank Perera
takes pride in the respect his firm
garners in the construction industry.
VOLUME 16, ISSUE 2 CONSTRUCTION-TODAY.COM