Worcester Business Journal

wbjournal.com | January 8, 2018 | Worcester Business Journal 9 People. Places. Product. Photographic images for advertising, public relations, graphic and corporate communications groups . See the difference. 165 Holly Lane • Holliston, MA 01746 Phone/Fax: 508.429.3188 • www.ronbouleyphoto.com R O N B O U L E Y P H O T O G R A P H Y Keep financial disclosures to a minimum Hudson restaurant Rail Trail Flatbread Co. was profiled by Forbes magazine for its open-book management style, sharing detailed company financial information with employees, so workers understand the restaurant's expenses. This practice is meant to encourage employee buy-in and ensure customers are being treated fairly. When polled online, nearly all WBJ readers said they minimize what financial information they share with employees. F L A S H P O L L How much financial information does your company share with its employees? COMMENTS: Employees can see most financial information but they have to ask. Nothing beyond what is publicly available. 42% We provide quarterly and/or annual reports summarizing revenue and expenses. 45% 8% 5% "We are a privately held company. Private. We are not obligated to disclose our financial condition." "We have found that giving our team members accurate, up-to-date information not only helps improve operations, but gives everyone common goals to strive towards. Keeping the whole team in the loop creates accountability and has definitely led to an increase in profitability." "We are private and provide monthly general summaries of revenue and expenses. The balance sheet is super private, however." Instead, good profit means running the restaurant as efficiently as possible right down to the last penny with com- plete employee buy-in. Now, Kleinerman and equity partners Karim El-Gamal and Michael Kasseris are bringing the management style across the street in February to their two other businesses: New City Microcreamery and speakeasy Less Than Greater Than. Employee buy-in Rail Trail has more than 100 employ- ees serving up flatbreads, ice cream and cocktails, and most of them are from Hudson, Kleinerman said. "Our turnover is less; and we're creat- ing a stable income for some people, and they're able to afford better housing and reliable transportation," Kleinerman said. "That's really a great thing to be a part of." In a way, the philosophy has perme- ated the lives of employees and their families by introducing the knowledge and discipline it takes to balance a checkbook while saving money, said Kasseris. Rail Trail is often credited with help- ing to begin downtown Hudson's trans- formation from a sleepy area mostly empty after 5 p.m. to a bustling area of commerce and nightlife. The open- book management style plays into the culture and atmosphere the restaurant exudes, Kasseris said. "From the youngest kid to the oldest employees … it starts to trickle through everyone's attitude and permeate the whole organization and their families," he said. All company financial information is clearly displayed in an easily accessible area. Business partners Michael Kasseris (left) and Jason Kleinerman plan to roll out Rail Trail's open-book style to sister company New City Microcreamery this year. All Rail Trail employees know the cost of the products they serve customers: napkins, French fries, drinks. The restaurant believes this increases efficiency. W

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