Fire Engine RED

Two founders created a virtual company where employees build lasting bonds without a physical meeting place.

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Fire Engine RED's employees may be located around the world, but the company maintains a strong culture.

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Fire Engine RED epitomizes an all-virtual company: by saving on office space they're able to hire top talent around the country. Still, keeping everyone in the loop can be a challenge, but it also provides a number of unique advantages: "What we found is by working virtually, we don't have cliques," says CEO Shelly Spiegel. "Our VP hangs out with our support people. We don't have some of the issues that you have in a traditional office." The company saw a three percent turnover rate in 2010, and how about this for an employee incentive: If the company reaches a certain benchmark in 2011 (which Spiegel is confident her employees will reach) every single employee in the company get's a $10,000 bonus. "We want them to feel valuable," she says. "Because they are."

Eric Markowitz reports on start-ups, entrepreneurs, and issues that affect small businesses. Previously, he worked at Vanity Fair. He lives in New York City. @EricMarkowitz