What is an Employee Stock Ownership Plan (ESOP)?
ESOP stands for Employee Stock Ownership Plan. An ESOP is a qualified retirement plan that can be used as a business transition tool and as an employee ownership vehicle:
A recent article from the Human Capital Institute (HCI), "Want Trust? Be a Leader" says, “to be trusted is a greater compliment than to be loved”.
Small business owners continually strive to find better ways to retain and reward employees. Much can be invested over time to help create an environment of happy employees, willing to invest their best efforts each day they come to work. Yet many business owners struggle to find just the right formula to inspire their people to share in their vision for success.
The establishment of an Employee Stock Ownership Plan is a key strategic initiative for a company. However, employee ownership must be more than just words on paper, or numbers in a spreadsheet. The most successful employee owned companies set their goal of becoming the best in their industry by creating a strong organizational structure based upon the trust, teamwork, and expertise of the employees to make it all happen.
The February 1, 2012 Employee Ownership Update is online and discusses the following:
In Ownership plan eases retirement insecurities, the President and CEO of Garney Construction writes about the benefits of employee stock ownership plans (ESOPs) and employee ownership, including providing retirement security:
The September 15, 2011 Employee Ownership Update is online and discusses the following:
7 Unusual Ways to Motivate Your Employees shares seven employee motivation best practices:
The September 1, 2011 Employee Ownership Update is online and discusses the following:
