We act like owners because we are!
While Hardy Diagnostics may have arisen from humble beginnings with only two employees, for over 40 years Hardy Diagnostics has grown and flourished to over 430 partners! Jay Hardy, President and Founder of Hardy Diagnostics, being of entrepenuerial spirit, wanted to instill the blessing and responsbility of business ownership upon his employees.
In October of 2015, Mr. Hardy sold the remainder of his majority share in Hardy Diagnostics back to his employees. Hardy Diagnostics now operates as a 100% Employee Owned ESOP (Employee Stock Ownership Plan).
We do not answer to private investors, a parent corporation, or venture capitalists. We operate as a company of owners who only answer to our customers and their needs. All of our profits remain within the company for the benefit of our hard-working employee-owners.
What's an ESOP?
ESOP stands for Employee Stock Ownership Plan. The term, coined in 1956 by Louis O. Kelso, refers to an employee ownership plan where a company grants its stock to the employees at no cost to them. Kelso argued that a company’s own employees should be the logical owners of stock in the company and its ultimate shareholders. Employees are the life’s blood of the company’s success and therefore they have the most “skin in the game.”
At Hardy Diagnostics, employees are granted shares in the company without needing to “buy in.” We pride ourselves as owners who can take the legacy Mr. Hardy began and push it further into the future as we continue our work to make and distribute the finest products for the detection and prevention of disease.
What does Ownership mean to us?
"Being an owner of this company keeps me motivated and focused on results day in and day out. When it gets tough, it's nice to know all of the hard work will eventually show up on the balance sheet. It is exciting to be so involved in the ownership of the company."
Anna Klavins, Senior R&D and Performance Studies Manager
"Knowing that many of our employee owners are looking out for the company's best interests is motivation for me to keep doing the best job I can possibly do. Hardy Diagnostics has allowed me to achieve many goals and help secure my financial future through our ESOP; something that many young people do not have readily available to them today."
Jonathan La Belle, AZ Distribution Center Clerk
"Our ESOP provides individuals with a sense of ownership and representation of something greater than themselves. It is not only a means for financial gain, but for individual growth as well. As owners, we must learn about financials and successful business practices. We must now put our best foot forward to ensure the longevity of OUR company."
Honey Hoe, Quality Assurance Manager
"Working for a company that is 100% owned by the employees is great. When I come into work, I know that doing my best not only provides our products to our customers, but is enriching my future and the futures of my co-owners. I love living the Hardy dream which is part of why life is good!"
Joe Naylor, Lead OH Distribution Center Clerk