Six Schwab Guidelines for Running His Business

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Years ago, Les Schwab outlined the six policies he believes are important in running a business. They are policies he wants to see the company follow far into the future:

1. "I believe that a company should share with those who help the company be successful."

2. "I believe in fairness to all employees, with complete honesty with all employees, and I belive in the open book policy which we follow."

3. "As cold and callous as it may seem, I believe the management and employees must produce or they must be replaced. Ten years of service does not guarantee a lifetime job. The problem with being successful is that you must be successful every day. You can't live on yesterday's record."

4. "I do believe in our trust fund retirement plan, our life insurance, medical, dental, our bonus program and in general good programs for good, deserving people."

6. "I believe in a fair wage. To whom much is given, much will be required."

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