Since life’s significant moments pass too quickly, much of the joy we derive from them comes upon reflection. To this end, a memento not only has the power to make a special occasion even more special, but also to transport us back to a cherished point in time.
Balfour & Co prides itself on being there for the important moments. As one of the world’s leading collegiate and high school commencement services companies, it provides the artifacts that connect students and their families to unforgettable, life-defining occasions.
“Purpose fuels the intangible, pushing us to go above and beyond for our customers.”
It is this ability to capture these moments of joy that Balfour & Co CEO, Ryan Esko, holds dear.
“Purpose is incredibly important to me,” Esko tells The CEO Magazine. “It’s a necessity for me as a leader to be part of a company with a guiding purpose.”
Balfour & Co specializes in providing products that celebrate academic milestones, such as class jewelry and apparel, yearbooks, graduation caps and gowns, announcement products and graduation photography. Esko heads up a team of around 5,000 people, operating across North America.
Its motto ‘Celebrating U’ encapsulates the spirit that runs through the business.
“Knowing that our work has a meaningful impact on individuals and communities inspires us to do our best,” Esko says.
Leadership prowess
Esko is a seasoned CEO, with experience heading up companies across various sectors. He has led fashion companies, a restaurant chain and even a toy company, giving him a plethora of experience to draw from.
“I’ve had five different roles now as a CEO, as well as multiple chairman roles, all with wonderful people,” he says. “It’s not by chance that I’m drawn to businesses where our products have the opportunity to provide enjoyment directly to customers.”
As well as an affinity for providing enjoyment to consumers, Esko is drawn toward businesses that are in need of a leadership spark.
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“The companies I’ve led have all had so much potential with incredible brands and people,” he reflects. “However, they’ve also had a need for serious transformations.”
Esko’s success in turning around the fortunes of companies, he says, has been down to the motivational power of communicating shared values to his team. He takes us back to his time heading up a large Spanish/Mexican toy company from 2014–2016.
“Within the first few weeks of joining, we faced challenges that could have hindered toy completion,” he says. “I motivated our teams by emphasizing our shared purpose of bringing joy to children and the importance of not letting them down with their toys.
“This fueled our determination to successfully tackle the challenges we inherited and get all the toys delivered.”
Seeing the impact that values and ideas have on performance has strongly influenced Esko’s leadership style and unveiled an important truth about human motivation.
“It’s purpose that drives all of us to go the extra mile when needed,” he says. “Of course, financial incentives, work–life balance and enjoyment are crucial factors in motivating and retaining key talent. But purpose fuels the intangible, pushing us to go above and beyond for our customers.”
Cultural power
True to form, Esko has placed core values right at the center during his tenure at Balfour & Co, taking pride in providing the highest quality products and services for their customers.
This commitment to quality has been an integral reason why Balfour & Co has flourished for over 100 years, since its establishment in 1913.
During World War II, the company provided military insignia for the United States Armed Forces, and still provides celebratory rings to the armed forces.
It has also worked with sporting royalty, creating rings for World Series Champions New York Yankees; Stanley Cup Champions New York Rangers; and Super Bowl rings for the San Francisco 49ers and Dallas Cowboys.
“To play even just a small part in people celebrating milestone achievements with their friends and family is really special.”
“Our teams, especially our manufacturing teams, take great pride in the tradition of hand-crafting products,” Esko says. “We’re the leaders in official class rings, with the largest college ring program in the world.”
He credits Balfour’s culture for upholding high standards, with employees feeling a strong connection to the special moments that its products are part of.
“Many team members have witnessed students shedding tears of joy at ring ceremonies or graduations nationwide,” he says. “To play even just a small part in people celebrating milestone achievements with their friends and family is really special.”
Beyond an outstanding culture, innovation is also a key strength of Balfour & Co. Esko describes how its development is highly focused on customer experience.
“In today’s fast-changing consumer landscape, we stay relevant and impactful by driving innovation through active listening,” he says.
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This has materialized in recent product improvements such as Encore, the company’s proprietary software for easy yearbook creation, as well as the launch of new student enrichment programs including scholarships.
Embracing technology, which is supported by key partners such as Aspire Systems, allows Balfour & Co to stay ahead of the competition while also staying true to its roots.
“Although we use insights from what our customers are saying to help guide how we evolve, we make sure we stay true to tradition and making a difference,” Esko says.
“If we achieve that, our customers win, our team wins, our vendors win and so do our stakeholders.”
Esko also takes pride in Balfour & Co’s agility and flexibility, which again is aimed at providing a better customer experience.
“We need to be nimble and quick to stand out,” he says. “The largest companies typically have big budgets and cost advantages, but they can follow bureaucracy which slows them down from quick actions.
“Setting up a nimble organization can provide you with a competitive advantage to serve your customers.”
Charity organizations
Purpose isn’t just something that Esko talks about in the confines of the workplace, as a tool to motivate his team. For 30 years, he has been passionately committed to helping those less fortunate than him in his life outside of work.
Esko is the Founder, CEO and Chairman of Juntos Regalando Sonrisas (JRS), or Together Giving Smiles, a charity focused on helping sick and orphaned children in both Florida and Latin America.
“For the past 15 years, I’ve dedicated my spare time to running this charity that provides support to children in need,” he says.
After witnessing the hardships that disabled and orphaned children experience in Latin America, Esko decided he wanted to make a difference. So he founded JRS in 2008, and today supports children through three different initiatives.
First, around 25 percent of its funds go toward special situation gifts. This is a meaningful provision for a child that has shown extraordinary bravery in the face of adversity and could include medical treatment, education or a trip abroad.
“Every member of our charity volunteers their time, making purpose the driving force behind all our efforts.”
The largest proportion of its funds, 65 percent, goes toward hosting events. JRS rents out venues such as zoos or amusement parks and invites families and children to enjoy a day of food, traditional music, organized games, special guest appearances and gifts.
The final 10 percent of its funds are reserved for assorted methods, allowing them to be flexible and provide assistance on an ad hoc basis.
His passion is reflected by his team members, who share his drive to give joy to children.
“Every member of our charity volunteers their time, making purpose the driving force behind all our efforts,” he says.
It’s clear that for Esko, being able to provide special moments is a duty and a privilege. His impact, both professionally and in his charity endeavors, demonstrates the power of doing the right thing.
“Purpose has helped thousands of children in times of need,” he says. “It truly demonstrates how purpose drives an outcome.”
