Board News
We have exciting news! For the first time in three years, Three Rivers Market can report a profit for fiscal year 2023-2024. Our General Manager, Fadi Aboush, and our amazing staff have worked hard to achieve this, while maintaining our commitment to paying every employee a living wage and offering monthly discounts to our members. This also couldn’t have happened without you – the members and customers who continue to patronize our store, and who contribute to our cooperative not just with your money, but your time and passion as well. Thank you for your commitment, and we hope you feel proud of your co-op.
After consulting with the General Manager and reviewing our financial condition, the Board has decided to reinvest this profit into our store instead of allocating an end-of-year patronage dividend. In the course of implementing a strengthened health and safety plan for the market, the GM and employees have identified long-term infrastructure needs that must be addressed in order to ensure we can meet our quality expectations. Repairs have already taken place for our HVAC system and walk-in coolers. There are currently plans for upgrades around the back-of-store freezers, to extend their efficiency and lifespan, and consideration of renovations of the roof and the solar panels, as well as the store facade. We believe that investing in the health and sustainability of our building will pay off in the long term, and we hope this infrastructure investment shows how serious we are in our commitment to being a market you can trust for years to come.
On October 13, the Three Rivers Board traveled to the beautiful community of Rugby, Tennessee, for our 2024 Fall Retreat. In addition to deliberating the patronage dividend decision, we enjoyed a productive workshop facilitated by Thane Joyal, our consultant from Columinate, including exercises in which the Board identified our big-picture goals for the upcoming year and steps we need to take to make them happen. These goals include more opportunities for member education and engagement in co-op governance, a communications strategy that focuses on transparency and the strengths of our cooperative, and updated Board processes.
We also reviewed the results of this year’s employee satisfaction survey, which was administered in September by our new vendor, Culture Amp. We believe in fostering a culture of honest and open communication with a focus on exemplary employee treatment. With regard to survey implementation, employees were compensated for their time completing the survey, and best practices for employee anonymity were used, in order to empower employees to share honest opinions. Some data: 39 of 55 employees chose to participate in the survey, and over 82% of those surveyed reported favorable satisfaction with the co-op as an employer. While we’re proud of that rating, perhaps more important is feedback that will help management to work toward increased satisfaction next year. Our highest scores came in Human Resources Practices and trust and respect for management, while the lowest were on opportunities for staff development and management communication. Most importantly, 100% of employees surveyed agreed that “Our Co-op provides high quality customer service”. We hope this shows how committed our employees are to giving you the best customer experience possible.
If you would like to learn more about these topics and next steps for Three Rivers Market, please register to attend our November Board Meeting, which will be held from 6:30-8:30 on Thursday, November 14th, at St James Episcopal Church (1101 N Broadway, Knoxville).
