Nothing motivates a person to contribute to a business' success more than having "skin in the game."
FOUNDER BUILT. . . EMPLOYEE OWNED
Most successful companies start with a founder who has a vision and then assembles a great team behind him or her. Early on, those successful founders realize that their chances for growth will depend critically on the commitment of their employees.
Employee ownership structures enhance this vital commitment across the board, because nothing motivates a person to contribute to a business' success more than having "skin in the game." It makes sense. Employee owners ultimately reap the rewards of operational cost savings and share in the benefit of driving revenue.
Data bears these facts out:
After establishing an ESOP, employee-owned companies grow 3-4x faster than before, compared to their competitors. When an ESOP is based on proven high-involvement engagement techniques, growth jumps to 10-15% per year faster than competitors.
ESOP companies are more stable for employees and communities – they are less than half as likely to go bankrupt, close, or move compared to non-ESOP companies.
Employee-owners in ESOP companies have almost double the median household wealth; more than 50% longer job tenure; and 33% higher wages than employees in similar, non-ESOP companies.
(source: National Commission on Employee Ownership)
Below are examples of companies that have harnessed the desire of workers to make their company succeed and outperform their peers. These are employee-owners. They care about success because their livelihood, and their business, depends on it.
ESOP COMPANIES SPEAK FOR THEMSELVES
The ESOP Association hosts an Annual Award for Communications Excellence (AACE) for ESOP companies from around the country to submit their employee ownership stories. Get to know some of America's leading ESOPs below: