“My negative feedback experience happened in high school basketball,” said a leadership coaching session participant. “Our best player got injured and the coach told us that we couldn’t win without her. My friend and I proved him right by deliberately fouling out in the game’s first five minutes.” Destructive criticism like this can lead to “foul outs” in the workplace, too. Most of us have had similar experiences where the wrong words at the wrong time disempowered, deflated and defeated us. Try these more constructive ways to deliver feedback that coaches, engages and empowers employees as ESOP owners to “stay in the game and win.” Click here to read the full article.
Increase employees’ engagement as owners, drive company success and grow ESOP stock value by adopting these practical communication tips shared during Jim Bado's keynote at the 5th Annual Great Lakes ESOP Conference at Kalahari Resort in Sandusky. 1) Get to the point, stick to the point. Click here to read the full article.
Did you know our human brains have the same limbic system that dominates a lizard’s brain activity? Luckily, we also have other lobes that provide higher-level functions. The limbic system is the source of impulses like fight, flight, feeding, fear, freezing up, and falling in love. Certainly, it’s good to have these reactions when we need them, but our “lizard brains” aren’t well-suited for activities like retirement planning and understanding fluctuations in ESOP stock value. Click here to read the full article.
If employee ownership is an important part of your culture, you’ll want to find ways other than the annual statement to bring awareness and focus to your unique ownership structure. Here are 10 ideas Workplace Development, Inc. (WDI) brings you from ESOP-owned businesses nationwide. Click here to read the full article.
Joe Motz, like many successful business founders, wanted everyone to benefit more directly from their daily efforts growing the company. “People receive wages and benefits for helping us succeed in the short run,” he commented. “The ESOP provides everyone with an equity stake, rewarding them for their efforts to grow our business in the long run.” Click here to read the full article.
Because unlocking the door to greater employee engagement is critical to your ESOP’s success, here are five communication keys you turn to open it. 1) Answer the "why" to create an ownership foundation. There are many different types of ESOP companies, styles of leadership, methods of sharing information and tools for engaging employees. Bottom line: No matter the company, people want to know the “why." Why should I care? Why would I want to be engaged? Click here to read the full article.
When a company transitions from being traditionally owned to employee-owned, it’s perfectly normal to run into some resistance, skepticism and confusion among employees at every level. And that can make it more of a challenge to develop an ownership culture and mindset. Hydraulic Controls, Inc., (HCI) encountered this very scenario after becoming a 100% ESOP in 2009. Through several subsequent acquisitions, HCI, headquartered in Emeryville, Calif., has now grown to 13 branch locations scattered across several western states. While corporate growth is a good thing, the executive team realized its employee-ownership culture wasn’t being tended to. Click here to read the full article.
“If I retire, then the payments begin in the year after?” one ESOP Communication Committee member asks for clarification. “Tell me again, now, what's retirement age,” another member chimes in. Does this sound familiar? Is it a bad sign when the dominant theme of your interactions with participants or your ESOP committee is all about cashing out? When employee owners are spending energy thinking about their exit, they aren’t developing “ownership thinking” or focusing on actions that build value. How should you interpret it when people keep asking about cashing out? Click here to read the full article.
If there’s one thing that captures the concept of employee ownership it’s connection. Connection to each other, both in day-to-day interactions and as people. Connection to the company, and the pride and responsibility. And onnection of one’s own individual efforts to the broader shared success of the company. How do you foster such connection? Click here to read the full article.
Anytime the public market goes on a roller coaster ride as it did in late 2018, it can cause quite a bit of uncertainty and anxiety for employees who are invested in stocks or equity funds as part of their 401(k) and other retirement accounts. So, naturally, your employees may be wondering how it all impacts their ESOP accounts.Click here to read the full article.