2009 Winner | BioTek Instruments
BioTek Instruments, Inc. is a privately held and family-run business that was founded in 1968. The organization develops instruments used to facilitate the drug recovery process and to aid in the advancement of life science research. This evolving company is committed to continued financial growth, the welfare of its employees and reducing the company’s impact on the environment, making it a strong contender for this prestigious award.
“BioTek’s dedication to its employees, the community, and the environment is impressive,” said Betsy Bishop, President of the Vermont Chamber of Commerce. “This company exemplifies the spirit of Vermont business and is most deserving of the Deane C. Davis Outstanding Business distinction.”
Aside from the Winooski location, BioTek maintains offices in Germany, France, Switzerland, the UK, Singapore, China, and India. All locations combined employ nearly 300 people, 259 of whom are located in Vermont. Since 2005, a 52 percent increase in its workforce encouraged BioTek to build a cutting-edge laboratory, adding 8,000 square feet to the Winooski property. With growing workforce numbers, the employee record reports an impressive retention rate with the average tenure of a BioTek employee exceeding 10 years and 18 percent averaging more than 20 years.
The company has also shown great strides in sales and growth over the past five years. Since 2005, BioTek sales have increased 78 percent, a striking number given the recent economy.
“BioTek has demonstrated many unique qualities that made it stand out in the crowded field of applicants seeking this highly respected award,” said John Boutin, Publisher of Vermont Business Magazine. “The company’s proven track record of success is to be commended.”
BioTek management offers an open-door policy for the staff, encouraging thoughts on policy adjustments to decrease costs or increase employee satisfaction. Annual reviews are holistically approached, based on the individual in the present, past and with a focus on the future. BioTek also promotes continued education by offering 100 percent tuition reimbursement and a “Bonus Pool” that pays a uniform amount to each person, since every employee is considered an equal contributor to the company.
BioTek’s commitment to employees is apparent and so is its dedication to the community. The organization encourages all staff to participate in community programs in order to strengthen the bond with the local community.
Listed in the top five principals of BioTek’s mission statement is a pledge to reduce the company’s overall impact on the environment. In 2008, the company created a team of employees dedicated to continually promoting employee involvement in cleaning up its procedures. The “Green Team” coordinates with Efficiency Vermont and Chittenden Solid Waste District to ensure the preservation of Vermont’s natural environment. Since the team was established, BioTek expanded its original recycling program, upgraded its buildings to meet strict environmental codes, created a composting policy and switched to recycled, compostable materials. Employees are also encouraged to carpool to work or receive financial reimbursement for using a bicycle.