October is ESOP Month! What does that mean to us?
October is ESOP Month!
What is an ESOP you ask, here is the definition:
An employee stock ownership plan (ESOP) is an employee-owner program that provides a company's workforce with an ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, often at no up-front cost to the employees. ESOP shares, however, are part of employees' remuneration for work performed.
For us, it means a lot of things. It means this month is full of celebrations, ESOP meetings, ESOP statements that explain how our shares work and celebrating with our field employees who qualify to be an employee owner!
We interviewed our team and asked questions about their view of Employee Ownership and what it means to them and here’s what we found out…
“Sharing the unique EO model is special to me.” – David
“Our opinions are heard and valued.” – Tony
“I am proud of our success as EOs.” – Kendra
“Holding myself to a standard of the type of EO I would want to work with.” – Becky
“I get to retire early and spend time with my grandkids.” – Todd
“We get to create and innovate with a passionate group of owners.” – Tania
“Everything changed the day we became EO – I’m excited for everyone who works here.” – Jill
“Love the energy of EO.” – Ann
“We make decisions every day that impact our business.” – Jordan
“Being an EO allows me to grow and in turn help our company be successful.” – Robin
“Everything we do impacts my future.” – Brittney
“Our culture and team makes me excited to come to work every day.” - Cory
“Being an EO makes an impact for our community and our families.” - Heather
“We are motivated and passionate because we all have a stake in the company.” – Kelly
“I’ll ask what I can do extra to help as an EO.” – Tyler
As you can see by our answers, we are really excited about our ESOP and we feel so grateful to have the whole month of October to reflect on what employee ownership means to us and celebrate it together!
We have been an ESOP for 8 years now and if you are curious about this model, we would love to talk to you. Our CEO is passionate about this and loves to spread the good news about what it has done for us.