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Employee Share Ownership Plans from the Owner's Perspective
- by Perry Phillips, President and Founder of ESOP Builders Inc.
Most owners of privately-held companies are also the founders. Why? At some point in the past, they had a dream and a desire to own their own business. For many, this required giving up a secure job working for someone else and entering the uncertain and ambiguous realm of an entrepreneur. Although there was a huge risk, they believed in themselves and their dream, and they took the leap. For many, this required using their own savings, as well as putting their house and everything they owned on the line as collateral. This was not an easy decision on their part. ... [More...]
They act like they own the place - and they do!
- by George Erb, Special to The Seattle Times
A chance conversation on a ski hill led to a dramatic turn of events for Peter Saladino, the president and then-majority owner of a Seattle construction company.
Saladino was vacationing in Montana when a ski partner talked about an employee stock-ownership plan, or ESOP, that turned workers into owners.
Intrigued, Saladino looked into an ESOP for his company, Charter Construction, which has about 220 employees. Saladino, 47, wasn’t thinking about selling or his own retirement. Instead, he was looking for an ownership structure involving his colleagues that would carry the company well into the future. His leadership team agreed an ESOP was a good idea. ... [More...]
The State of Employee Ownership Policies in the United States
- from the NCEO Newsletter
In Having a Stake, a publication released today by Third Way, Joseph Blasi, Douglas Kruse, and Richard Freeman assemble the current state of research on all forms of employee ownership, making a case for changing public policy.
In the introduction, the authors summarize the article: "policies to expand capital ownership and profit sharing that the founders of the U.S. saw as the right way to address the inequality and economic problems of their day are as appropriate—or even more so—to the inequality and economic problems of our day. With the experience of the past to draw upon and a large and growing set of studies on how different forms of employee share ownership and profit sharing work in modern settings, it is time to examine how ownership and profit-sharing policies can help make U.S. capitalism more efficient and equitable in the current economic environment."
The article examines the data on profit sharing, ESOPs, broad-based equity compensation, and worker cooperatives, and concludes that four findings support stronger policy support for employee ownership:
- It reduces inequality of wealth and income.
- It improves company productivity.
- It increases net employment by enhancing firm survival and employment stability.
- It is associated with increased employee voice, access to information, and more satisfying work experience.
2017 Canadian Employee Ownership Conference
Register soon. Early bird pricing ends March 31st for the 2017 conference being held at The Four Points by Sheraton Hotel and Conference Centre Gatineau-Ottawa from June 6 to 8. Check the conference website for information on speakers and events. See you in Gatineau!
All the Canadian ESOP Guidance You Need in One New Book
ESOPs in Canada: How to Implement an Employee Share Ownership Plan to Grow and Exit Your Business with Your Legacy Intact is a comprehensive and practical guide to every aspect of designing and implementing an Employee Share Ownership Plan in Canada.
“This is a must read for those business owners thinking about exploring the notion of employee ownership and discovering that “skin in the game” for those on the front lines of leadership is a secret weapon to surpassing your wildest dreams and forecasts! It is magic”
~ Doug Flynn, CEO, Flynn Group of Companies
More information and order details at http://esopbuilders.com/resources/books/
Notable Quotables
"It is not the strongest that survive, nor the most intelligent, but the one most responsive to change." -- Charles Darwin
Upcoming ESOP Events
See ESOP Builders events page for details on upcoming ESOP events.
Canadian ESOP and Ownership Thinking Books
ESOPs in Canada: How to Implement an Employee Share Ownership Plan to Grow and Exit Your Business with Your Legacy Intact (2015) by Perry Phillips and Camille Jensen. Buy this book on Amazon or FriesenPress.
The $10 Trillion Opportunity: Designing Successful Exit Strategies for Middle Market Business Owners: A Guide for Professional Advisors - Canadian Edition (2007) by Perry Phillips and Richard E. Jackim. Buy this book on Amazon.
Dr. Carol Beatty's book, Employee Ownership: The New Source of Competitive Advantage (published by Wiley and Sons 2001 - ISBN 0-471-64641-5). Buy this book on Amazon.
Brad Hams' book, Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit (published by McGraw-Hill 2011- ISBN-10: 0071772456 - ISBN-13: 978-0071772457). Buy this book on Amazon.
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