If you asked three people at your company what their roles are as employee owners, what answers would you hear? More importantly, would the responses be the same or even similar? At some ESOP firms, the answer to the last question is no. That's because defining employee owners’ roles and responsibilities is an ongoing challenge. Click here to read the full article
With unemployment at the lowest levels in sixteen years, it’s no secret that it’s getting harder to recruit and retain talented employees. Are you making the most of your ownership advantage? To deploy your ESOP as a recruiting and retention tool, integrate these three practical ideas into your written, electronic, video, and face-to-face communications. Click here to read the full article.
Is your ESOP Committee stuck in neutral? Are your company’s Committee members struggling to engage employees as owners or make the most of October’s ESOP Month? If that’s happening – and it does, even for the most successful teams – it’s time for you to “hit the reset button”. Explore practical ways to “unstick” your ESOP Committee in this article. Click here to read the full article.
“We’ve changed it up quite a bit over the years,” says Renny Ross, HR Manager at D-C Elevator Company, Inc. “When we started doing them, ten years ago, we really needed to cover the nuts and bolts and the basics. We wanted people to understand how paying down debt mattered for our success.” These days the company’s ESOP communication needs are different but Ross says that the in-person annual meetings are still an extremely important part of connecting with ESOP participants. Click here to read the full article.
“We created the ESOP to attract and, more importantly, retain talent so that we can meet the ongoing needs of our clients. By running part of our annual communication by webinar, we were able to connect with our professionals who work at client sites in 18 different states and 11 countries,” explains Dolores Connolly, CEO of Sterling Engineering. Click here to read the full text of the article.
A collective gasp filled the room when employees heard Bernie and Pam Veldman announce last January that — after careful consideration — Dienen Inc. was being sold to new owners. The room was bursting with mixed emotions: fear of the future, sadness, confusion, and shock. Employees of this South Bend, Indiana, company fell silent for a few moments, then mustered a smattering of uncomfortable applause. Click here to read the full article
Employees see things differently when they understand the line of sight between job level actions and company results. Actions at a job level that save a few dollars, improve efficiency, collect invoices a bit faster, or attract future customers are powerful building blocks in growing ESOP rewards. Shared ownership through an ESOP can only be engaging if employees can see and understand their own connection. This article outlines steps ESOP-owned companies can take to make those connections. Click here to read the full article.
This month the creators of the Pokémon Go smartphone game inspired millions of people all over the world to hunt for imaginary creatures and treasure. Given their success, Employee Stock Ownership Plan (ESOP) leaders and communication committees with multiple locations may want to consider how the game creators were able to generate engagement and excitement even though none of the users share a geographic location. Click here to read the full article.
The ESOP Communication Committee at Robin Industries started their first year with a bang! Sometimes ESOP committees struggle for years to get activities going. What’s the secret to getting a committee launched with energy and purpose? It is not one secret but instead a combination of factors. Click here to read the full article.
Some people believe in making projections about future ESOP account balances. Others see them as the proverbial “subway third rail” of ESOP communications; something to never be touched (i.e., stay away unless you want the equivalent of fiduciary electrocution). A recent encounter with a successful ESOP company illustrated a dilemma of sharing ESOP account projections. Click here to read the full article.
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