ESOP Builders Inc. March 2019 Newsletter
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Creating Alignment between Employee Committees and Leadership Teams
- from NCEO Newsletter

One of the most important factors contributing to the success of employee committees in achieving their culture and communication goals is how well-aligned the committees and the company's leadership team are.

The responsibility to create effective alignment should never rest solely with committees themselves. Leadership can play a significant role in both enabling committees to be successful and supporting them through some of their biggest challenges when it comes to creating a strong culture of ownership. There are several things to consider when working to create more effective alignment of between each group's goals and the practices that will help all teams involved achieve them. ..

Business Transitions Forum

Perry Phillips, President of ESOP Builders Inc., will be speaking as part of a panel at the Business Transitions Forum in Toronto May 28 to 29, 2019 at the Westin Harbour Castle.  Mr Phillips' session will cover how ESOPs can be used in the Business Owners' transition plan.  The panel will discuss the use of management buyouts and the training of the leadership team in that transition.  More information can be obtained here

Canadian Employee Ownership Conference

Perry Phillips, President of ESOP Builders Inc., will be speaking at the 2019 Canadian Employee Ownership Conference in Toronto June 3 to 5, 2019 at the Novotel Toronto North York Hotel.  Perry will be joining Graham Clow, Chairman of the Board of Roscoe Postle Associates, to discuss Transitioning from a Major Engineering Company to an Independent, Employee Owned Consulting Practice.  Perry will also be participating in the Ask the Expert Roundtable Sessions.  Registration is open and Early Bird pricing is available until April 1.  More information can be found here

Tips for Sharing Bad News
 by Jennifer Briggs, organizational development and HR executive consultant
  - from the Beyster Institute Employee Ownership Insights

Business life doesn't always go as planned and leaders should be prepared to share bad news. In perfect bad news situations, if there is such a thing, a company has already been practicing open book management (OBM) and has built a community of resilient corporate citizens ready for information and action. Of the many reasons to practice OBM and develop corporate citizenship, some are to foster preparedness, fortitude, and resilience. In open companies, people understand market dynamics and have a broad level of business literacy that will help with fast digestion of bad news and nurture a desire to positively shape the future. A strong social system is inherently ready for any news. 

However, we know, perfection is something that is often strived for, but not actualized. Also, no matter how ready a corporate community is, some news will always be harder to communicate. For example, layoffs in tightly held companies are particularly hard because leaders are seen as breaking up the family or hurting the lives of our friends. We will miss our work companions when they are gone and in some cases end up carrying their workload. In situations where a big account is lost, it is a more straightforward message to explain and for people to grasp. More often a business downturn is more nuanced.

But, here are a few do's and don'ts. ..[More...]

50 Largest Employee-Owned Companies in the United Kingdom
- from NCEO Newsletter

The UK’s Employee Ownership Association released its list of the 50 largest employee-owned companies recently.

 The EOA also reports that these 50 companies together had £19.8 billion ($2.5 U.S. billion) in annual revenue and employed 171,000 people. Their median change in profit from the prior year was an increase of 9.2%. The largest firm on the list is John Lewis & Partners (retail), followed by the Mott Macdonald Group (engineering and management consulting) and Arup Group (design and engineering consultants).

 Twenty-one companies on the list have over 1,000 employees, and the smallest company on the list (Curtins Group Ltd) has 389.

Betting on a Sure Thing
- from NCEO Newsletter

Three years after selling to an ESOP, Eureka Casino Resort is being recognized for betting on its employees.

The Mesquite, Nevada, company is being recognized for the first time as one of the Top 100 Medium Workplaces in America. The list, which is compiled annually by Fortune Magazine in conjunction with its partner Great Place to Work, looks at companies that have between 100 and 999 employees. Eureka Chairman and CEO Gregory T.H. Lee said, “The employees know that they’re a part of the Eureka family. We all share core values, we’re all investors, and we all define success in the same way...By passing ownership to the men and women I grew the business with, I am assured we will both stay a family and be a strong and growing business for years to come.” Eureka Casino’s Andre Carrier was the keynote speaker at the NCEO’s Fall ESOP Forum in October.


All the Canadian ESOP Guidance You Need in One 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 here 

Notable Quotables

"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." -- Albert Schweitzer

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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