Employee Ownership Month
Anderson Engineering is proud to be celebrating Employee Ownership Month in October! As a member of the Employee Stock Ownership Program Association, we believe that employee ownership brings out the best in our team.
Broadly explained, an Employee Stock Ownership Program (ESOP) is when a company provides their employees with stock ownership as part of all of their retirement savings. Those employees now have a stake in the company and benefit when the company grows and the stock increases in value.
Because the employees can reap the benefits of a thriving company, company leaders who have ESOPs often see greater staff productivity and workplace morale, as each person is working towards the common goal of growth and reward. This creates success for both the company and employee.
So, what does an ESOP mean for a company? Former CEO and Chairman of the Board, Steven Brady says this:
“One of the greatest benefits from the Employee Stock Ownership Plan (ESOP) is the sense of inclusion in the company success by employees of the company,” said Brady. ‘Bruce Rhodes and I, as the first Trustees of the ESOP, each were committed to the successful transition of the company to an ESOP and worked to that end. The results have been outstanding: in the 19 years since the inception of the ESOP, the company stock has increased in value an average of 9.57% each year. Everyone benefits from this growth.’”
We’re proud of the benefits our team receives from Anderson Engineering’s Employee Stock Ownership Program. This is what helps make us the best place to work, and the best place to work with!