Employee ownership is still a great way for capitalism to impact the economic divide. Check out Becky Hummer’s Blog entry. https://www.dbzinc.com/2019/04/28/employee-stock-ownership-plans-are-more-common-than-ever/
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October is Employee Ownership Month. Are you ready? Celebrate your employee owners and the company’s success by hosting some of these fun company-wide events:
- Volunteer for a Cause
Find a local service project that aligns with the company’s values and spend a day volunteering. Group service is a great teambuilding exercise and provides an opportunity for employees to connect outside of a work setting. Note: Make sure to call the charity ahead of time to let them know the size of your group so they can accommodate your team.
- Host a Lunch ‘n Learn with a Leadership Speaker
Ask employees to vote on a topic they would like to learn about, but give them some ideas like retirement, health, and wellness or personal development. Hire an external speaker or create a panel of employees to talk about the topic most voted. Serve lunch and people are sure to show up hungry and eager to learn.
- Create and Compete in an Old Fashioned Field Day
A little healthy competition never hurt anyone. Divide into teams and create reasonable obstacles and races to compete in. Everyone will enjoy the fresh air and the light competition is a great way for employees to blow off steam and bond.
- Throw a Theme Party
What better way to celebrate than with a party? Choose a theme like the ’80s or Hollywood, and have everyone come into work dressed in costume. Business as usual in the morning, then take the afternoon off and throw a party; provide food, games, and maybe even host a costume contest.
Employee Ownership Month provides you with the perfect opportunity to promote employee ownership. Make it fun. Be sure to acknowledge and recognize the positive contributions of your employee owners.
If you need more ideas, visit our website to view our Employee Ownership toolkit: www.nesteggcommunications.com.
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Are your employees financially prepared for retirement? Many are not, as a result, they outlive their savings and have to depend on others in their old age.
In recognition of this reality, many owners of privately held companies choose to move toward an ESOP transaction as an exit strategy from their business instead of selling out, going public, or shutting down.
These thoughtful owners choose an ESOP because, among other reasons, it allows their valued employees to keep their jobs and over time, earn beneficial value in the company.
Looking to learn more about ESOPs? Thinking about moving your company toward the ESOP model? Contact an ESOP Lawyer, Advisor, or Consultant today at ESOPmarketplace.com
But the benefits of an ESOP to the employees does not begin with retirement. There is something to be said for pride of ownership. Historically, companies that have taken the ESOP route have had better employee retention and satisfaction. Why? Simply put – the employee now has “skin in the game”.
Having worked over the years with ESOP companies and having examined the statistics surrounding companies that have adopted an ESOP model, I have discovered the following to be true.
- Employees feel more in control of their own destiny because they have a stake in how their job impacts company value.
- Employees (on average) make more money than their counterparts in publicly or privately-owned companies within the same vertical.
- Employees bring a more trusting attitude with them to work in relation to management.
- Employees tend to stay longer in their position because of the ESOP financial incentives.
- Employees band together to work through the difficult times instead of abandoning the company and each other. This builds community and preserves their sweat-equity investment in the company.
- Employees enjoy greater job satisfaction than their counterparts in other systems of corporate ownership.
Want better for your employees as you transition to a new phase in your business? Contact the ESOP professionals today at ESOPmarketplace.com
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