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How we Support Our Companies

Ensuring smooth operations and long-term success

We work alongside our employee owners, helping them optimize efficiency, productivity, and profitability while maintaining a positive organizational culture. Administration also serves as the critical liasion between Folience’s board of trustees and its companies, ensuring strategic plans align with company goals and vision. 

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ESOP Administration

Managing and overseeing our employee stock ownership plan, including plan design, implementation, communication, and compliance

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Corporate Governance (Bylaws, etc.)

Establishing and enforcing bylaws, policies, and procedures to ensure effective decision-making and accountability within companies

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Board and Trustee Relations

Managing relationships with board members and trustees, including communication, collaboration, and goal alignment

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Adhering to legal and regulatory requirements, monitoring and reporting activities, and ensuring ethical and legal conduct

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401(k) and ESOP Audit

Verifying retirement plans to ensure compliance with legal and regulatory requirements

“There is a spirit of teamwork and mutual respect between Shared Services and the employee owners within Shared Services and within our businesses. The group is responsive to the needs of our ‘customers’ (the businesses) and will do whatever is necessary to not only offer assistance, but to help develop the capabilities and expertise within the business so that they become stronger.” 

– Cathy Terukina, Executive Vice President of Folience 

Questions about Administration or our Shared Services model in general?