Welcome to your August Issue of the ESOP Report. This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
Inside this Issue:
The ESOP Association
ESOP Association Resources
Aug. 15
Employee retention is a critical challenge faced by organizations in today’s dynamic business landscape, especially with the recent surge in turnover.
A high turnover rate not only disrupts workflow but also increases an ESOP’s costs associated with recruitment, training, and lost productivity. In this article, we’ll explore several strategies that ESOPs can use to attract and retain the most talented employee owners.
A high turnover rate not only disrupts workflow but also increases an ESOP’s costs associated with recruitment, training, and lost productivity. In this article, we’ll explore several strategies that ESOPs can use to attract and retain the most talented employee owners.
Aug. 10
In late June, ESOP PAC hosted a fundraising event for Congressman Jason Smith (R-MO), an ESOP champion and chair of the powerful House Committee on Ways and Means. Ways and Means is a key committee of jurisdiction for ESOPs as it is responsible for writing our tax code, along with its counterpart in the Senate, the Finance Committee.
Aug. 08
The shared passion for employee ownership is something that runs deep throughout the ESOP community. It’s something we all feel strongly about, and a key driver of why the ESOP model works for so many millions of Americans. But what is it, scientifically, about ESOP culture that fosters this pride among employee owners?
Aug. 03
Earlier this year, The ESOP Association announced the first Chapter expansion since the 1990s to better serve our membership, reinstating a standalone Florida Chapter and creating the Rocky Mountain Chapter, serving Arizona, Colorado, New Mexico, Utah, and Wyoming. TEA is excited to announce our newest chapters are already making great progress, and both will be hosting their inaugural conferences in August (Florida) and September (Rocky Mountain)!
ESOP Blog, Resource
Dec. 21
Two organizations with significant pull in the business world are focusing their attention on the benefits that ESOPs and employee ownership can bring to disadvantaged communities.
The Aspen Institute Economic Opportunities Program and the Rockefeller Foundation have been working jointly to explore and promote the use of ESOPs and employee ownership in Qualified Opportunity Zones. These 761 zones include distressed communities in all 50 states, the District of Columbia, and five U.S. territories.
The Aspen Institute Economic Opportunities Program and the Rockefeller Foundation have been working jointly to explore and promote the use of ESOPs and employee ownership in Qualified Opportunity Zones. These 761 zones include distressed communities in all 50 states, the District of Columbia, and five U.S. territories.
ESOP Report, Resource, Legal Update, Ownership Advantage, PBGC, Washington Report, ESOP PAC, Valuation, Lifetouch, Culture, AACE
Dec. 01
Deadlines loom for AACE and EOM Poster competitions.
ESOP Blog, Resource
Jan. 31
I am hearing increasingly from certain thought leaders that current ESOP laws do not create “good” employee ownership plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.
Anytime we ESOP advocates encounter someone who takes such a view of ESOPs, we need to ask ourselves, “Why does that person think ESOPs are not good employee ownership plans?” When we know the answer, we can counter the ESOP cynic’s point of view.
In my experience, there are three main criticisms of ESOPs. I’ll deal with each one in a separate blog post.
The first criticism maintains that ESOPs are bad retirement plans.
ESOP Blog, Resource
Jan. 17
For some time now, the data have shown that businesses with employee stock ownership are clearly better than conventionally owned companies at retaining employees. But new insights gleaned from existing research data show that, over a period of 12 years, businesses with employee stock ownership have gotten increasingly and dramatically better than conventionally owned firms at retaining employees.
How much better? Try 235 percent better!
How much better? Try 235 percent better!
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, DOL, Foundation, Compliance Testing, Communication, EBSA, Employee Ownership Month
Jan. 10
Shifting views on personal property just might open the door to greater employee ownership.