Working Together for Success

Our Employee Stock Ownership Plan (ESOP) is a unique wealth-creation program that most companies choose not to offer. We are a 100% Employee Owned company so all of our employees have a vested interest in our success. We work to be efficient, effective, and customer-oriented in every aspect of our operation.

The ESOP Culture

An ESOP is a retirement plan, but it is also the foundation of a culture in which everyone is on the same team working toward the same goal of making our company successful. The more we work together, and create efficiencies in the business, the higher our share value can become. This ultimately benefits each individual employee. In all that we do, we are guided by our Core Values: a Customer First Approach, Honesty & Integrity, a Passion for Continuous Learning, an Unmatched Work Ethic, and Personal Responsibility.

Stronger Companies

ESOPs have been found to boost sales and employment more than 2% a year compared to similar companies without ESOPs. Employees are incentivized to work harder and this results in higher profits. ESOPs are only half as likely as non-ESOP firms to go bankrupt or close and only three-fifths as likely to disappear for any reason.

Stable Jobs

Research shows employee-owners earn up to 12% more in median wages with better benefits compared to employees in matching non-ESOP companies. Studies show employee-owners have 92% higher median household net wealth, 33% higher median income from wages, and 53% longer median job tenure.

Prosperous Employees

In 2021, our employee-owners received an average ESOP contribution equal to 17.3% of their eligible compensation. When paired with the 401(k) match, total company paid retirement benefits equaled 19.8% of eligible pay. Comparatively, nearly half of Americans have no money saved for retirement.

Community Involvement

We have a long-standing corporate philosophy of giving back to the community, going back to former owners Bob Woodward, Art Wiles and Tom Doucher, who met due to the shared experience of raising children with developmental disabilities. As part of the corporate philosophy, the company built and donated a $750,000 residential respite care facility to serve as a safe and temporary home offering specialized care for children with developmental disabilities. The facility, known as the Palmer-Donavin House, is now operated by I am Boundless, Inc. in central Ohio. It is an important part of our company’s legacy and commitment to the community.

Palmer-Donavin also encourages employees to volunteer in their communities through work-promoted activities, as well as independently on their own time. We regularly get involved with the United Way, Mid-Ohio Foodbank, Palmer-Donavin House, Meals on Wheels, the Salvation Army, and ModCon Living.

Our Culture