October is Employee Ownership Month (EOM)

Posted by Aaron Juckett, CPA, CPC, QPA, QKA on Tue, Oct 04, 2011
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The ESOP Association issued a press release announcing the start of Employee Ownership Month in 2011.

WASHINGTON, Oct. 3, 2011 /PRNewswire-USNewswire/ -- The ESOP Association and the employee ownership community will celebrate Employee Ownership Month, which is a tribute to the tremendous spirit of employee ownership, throughout the month of October.

Employee Ownership Month is an opportunity for ESOP (employee stock ownership plan) companies across the nation to educate employee owners, the public, and government officials about the incredible benefits of ESOPs. For more information about Employee Ownership Month, please visit http://www.esopassociation.org/resources/resources_month.asp.

"It's my pleasure to announce the start of Employee Ownership Month," said J. Michael Keeling, president of The ESOP Association. "Our members work to promote employee ownership and its benefits every day and deserve to be honored for their efforts."

Facts about employee ownership in the U.S.:

  • There are approximately 11,500 ESOPs in place in the U.S., covering 10 million employees (approximately 10% of the private sector workforce).
  • The 20th Annual Economic Performance Survey conducted in 2011 by the Employee Ownership Foundation found:
  • 92.2% of survey respondents reported that creating employee ownership through an ESOP was 'a good business decision that has helped the company.'
  • 58.3% of companies indicated they have created an ESOP education program or ESOP advisory committee since establishing the ESOP.
  • 72.9% of respondents indicated the ESOP positively affected the overall productivity of the employees.

Here is a link to information about the 20th Annual ESOP Economic Performance Survey (EPS).

Topics: ESOP, employee stock ownership plan

Aaron Juckett, CPA, CPC, QPA, QKA
Written by Aaron Juckett, CPA, CPC, QPA, QKA

Aaron is President and founder of ESOP Partners and provides implementation, administration, and consulting services to hundreds of companies. He is a member of The ESOP Association (TEA) and the National Center for Employee Ownership (NCEO).

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