Location: Hatfield, PA
Industry: Materials testing and calibration
President and CEO
Throughout the more than 30 years Laboratory Testing Inc. (LTI) has been in business, the company has held true to its values. Those values include people, integrity, leadership, learning and profit. At the heart of the company’s mission is its respect and support for others, and its dedication to hard work.
With seven different family members operating within the company, LTI has family policies and procedures in place. These require that any family member who wants to join the company have a college degree and five years of experience working elsewhere. What’s more, LTI encourages family members to continue their education, and even pays for them to do so.
Fun Fact: LTI has sent its employees on fully paid vacations to locations like Bermuda and the Dominican Republic.
LTI president and CEO Mike McVaugh describes the company’s culture as transparent. LTI employs an open-book policy, in which all financials are shared with employees to help them feel as though they have a greater stake in the company’s success. LTI takes accountability seriously, and shares profits with employees through its incentive bonus plan.
LTI’s hopes for the future are simple: to keep the business in the family for generations to come. As LTI grows as a family establishment, McVaugh hopes to be able to carry on the
legacy of the first generation: a quality, service-oriented, independent test lab.