Marvin, a 112-year-old manufacturer of windows and doors, held its annual meeting and announced its 2024 profit sharing to the company’s more than 8,000 employees.
This year’s meeting was held via live broadcast from Marvin’s Warroad, Minnesota headquarters, where approximately 1,700 employees gathered in-person. Celebrations at Marvin’s 18 additional locations brought together the majority of its remaining 6,300 employees for localized festivities and a livestream of the Warroad gathering.
What was discussed
“We made significant progress and achieved several notable milestones in 2024,” says Paul Marvin, CEO of Marvin. “From opening a new distribution center in Reno, Nevada, to breaking ground on a new manufacturing facility in Kansas City, Kansas, Marvin is ideally positioned for continuous strategic growth in 2025 and beyond.”
During the meeting, employees also reflected on the company’s No. 19 ranking on Forbes magazine’s America’s Best Large Employers, a list of the nation’s top places to work.
“I’m proud to celebrate our achievements and the moments of unexpected inspiration we found along the way this year,” says Marvin. “Marvin employees are what make Marvin worthy of recognition, and I’m honored to have been able to celebrate alongside you.”
Additional milestones in 2024 included the completion of an expansive renovation to the company’s 75,000-square-foot headquarters in Warroad and the launch of Marvin Connected Home, built-in, fully automated windows, doors and skylights.
2024 profit sharing
Founded in 1912, Marvin first instituted profit sharing in 1957. This year, Marvin announced that more than $17 million in profits would be shared among 7,460 eligible employees across all Marvin locations this year. Full-time employees with more than 1,500 hours worked received a minimum of $1,800 up to nearly $5,400, depending on length of service with the company.
24% of Marvin’s profit-sharing pool was distributed based on employee length of service, further recognizing employee commitment to Marvin. Nearly 15% of Marvin employees have been employed at the company for 20 years or more.
Over Marvin’s 67-year profit sharing program, the company has shared more than $410 million with employees.
