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.
ESOPs span many industries such as Technology, Science, Manufacturing, Finance, Insurance, and Real Estate. But they all have common traits:
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.
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.
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.