Social Responsibility - Fastenal Culture

 
Fastenal Culture
We are defined by our core belief in people: that each individual possesses vast untapped creativity and potential, and that the role of leadership is to find ways to fully develop and utilize it. From this mindset stems a deep commitment to training, decentralized decision-making, and promotion from within (an aspect of our culture that influences everything from how we compensate employees to how we grow as a company). There is no trade-off between our people-oriented values and our business success – the former makes the latter possible, and the latter reinforces the former.
Fastenal Values
Our most successful employees live and work by the following cultural values.
Ambition
Ambition
By thinking big and outworking the competition, we add value for our customers, drive growth for our company, and create opportunities for ourselves.		 Innovation
Innovation
We believe the best ideas come from people closest to the customer or process. Looking for a company that listens to (and truly values) your ideas? We’re all ears.
Integrity
Integrity
Our decentralized culture wouldn’t be possible without personal integrity at every level of the company – people who don’t need complex rules and constant supervision to do the right thing.		 Teamwork
Teamwork
We succeed by surrounding ourselves with talent, supporting those around us, and challenging each other to become better every day.
10 Basic Rules of Leadership
Our most successful leaders live and work by the following rules, as were originally created by our founder Bob Kierlin.
1. Challenge rather than control
2. Treat everyone as your equal
3. Stay out of the spotlight
4. Share the rewards
5. Listen rather than speak
6. See the unique humanness in all persons
7. Develop empathy
8. Supress your ego
9. Let people learn
10. Remember how little you know
  
 
Social Awareness
Social Awareness
From 2011 to 2018, Fastenal’s sales-related workforce in the U.S. increased 47%. Over this same period, the number of sales-related employees who are female nearly doubled while the number of sales-related employees who identify as a minority increased by nearly 2.5x. Today, based on U.S. Bureau of Labor statistics data, our mix of sales-related female and minority employees is similar to the mix of such groups that is typically seen at our durables manufacturing and construction customers.
More than 95% of our General Managers have been promoted from within, and that trend continues all the way to the top. In fact, nearly all of our senior leaders worked their way up from entry-level positions.
400,000+ Fastenal School of Business (FSB) course completions each year administered by 48 professionals across 5 different campus locations. Fastenal's commitment to education contributes to building the skills necessary for each individual to grow within the organization while building the overall human capital that drives the business forward.
Related Links
Conflict Minerals Report EEO/AA Policy Statement Conflict Minerals Report Employment Equity Policy Conflict Minerals Report Multi-Year Accessibility Plan  Conflict Minerals ReportStandards of Conduct
 
Community
When Fastenal went public in 1987, our company founders set aside more than a quarter of the IPO shares to create an educational endowment for local schools. The message was clear: Fastenal is a company grounded in community. Today this spirit shines through in thousands of cities and towns where our local “blue teams” work, live, lead, and give back. A few notable examples:
Blue Team Sports
Blue Team Sports®
An athletic uniform program available to Fastenal employees and their family members who participate in sports programs in their communities. Learn more.		 Trinona
Trinona®
The world’s “biggest little” triathlon, presented by Fastenal. Learn more.
BK-5K
BK-5K
An annual race/fundraiser with all proceeds supporting various youth programs demonstrating financial need. In 2018 the program was expanded to include multiple events in different locations. Learn more.		 Blue Team Responds
Blue Team® Responds
When disasters strike, local Fastenal teams utilize our Blue Team Responds emergency distribution program to quickly provide – and in many instances donate – critical supplies like water, generators, tarps, and tools. Learn more.
 
Governance
Fastenal’s board of directors helps set standards for excellence for our employees, officers, and directors. It is likely that our future board composition will have more women and minorities, bringing valuable perspectives to our organization. At present, the only standard we apply to any potential candidate is that he or she has a requisite depth and diversity of experience to execute the critical oversight function of our company.
     
The CEO Pay Ratio is a window into corporate pay practices and viewed by some as a proxy for executive compensation reasonableness.  Fastenal's ratio is low compared to other companies, being 62:1 in 2018 and 58:1 in 2017.  To put this into perspective, in October 2018 the Harvard Law School published a study evaluating CEO Pay Ratios through the proxy season ending in the second quarter of 2018. This study found that the average ratio for companies with $1B to $3B in annual revenue was 157.4, while the average ratio for companies with $3B to $10B in annual revenue was 289.1.
Related Links
View Governance Documents View Governance Documents View Board of Directors View Board of Directors View Management View Management  
 
Health & Safety Programs
Fastenal understands that safety is important to both our employees and customers. Our employees engage in a variety of trainings and participate in a number of programs and processes to ensure they sustain a high level of safety performance at work and while visiting our customer facilities and locations. View our EHS report to view more detail on the statistics below.
Healty & Safety Programs
96,350 completed training modules in 2018.
33,500 safety audits & inspections.
12,000 1-1 coaching and observation opportunities.
Healty & Safety Programs
0.48 EMR rate outperforms peer group by 52%.
Prevented 2,400 workplace injuries while increasing 350,000 hours of productivity since 2010.
ISO45001 Occupational Health & Safety Management System.
Related Links
View Full Environmental, Health & Safety Report View Full Environmental, Health & Safety Report
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