The Accelerator is a one-day course designed for new and non-managerial employee-owners, focused on how daily actions drive company performance and long-term value.
This installment of the ESOP Employee Accelerator Spotlight series features VGM Group, where employee ownership shapes everything from recruitment through retirement. We’re pleased to share their story through the interview below, offering a closer look at how VGM’s eight Power Of One Principles anchor its ownership culture, how leadership communication and education build understanding across the company, and how hosting Accelerator sessions reflects VGM’s belief that a strong ESOP community benefits everyone.
How would you describe the ownership culture at VGM Group?
The concept of employee ownership is ingrained in everything we do at VGM Group. From recruitment efforts to the first day of onboarding and to the last day before retirement, employee ownership is central to our everyday business operations. No matter the role, the position, or the task, everyone makes an impact. We all may have different job titles, but at the end of the day, the most important title is the one we all share: employee owner. Additionally, all of us at VGM are driven by our eight Power Of One Principles: a collection of values that are at the core of VGM’s employee ownership culture (more on this later). VGM has incredible pride in our employee-owned status, and we take strides to make it known. “Employee-Owned” can be found on all of our internal and external marketing materials. In 2023, we unveiled our 100% Employee Owned flag to mark the 15th anniversary of our employee ownership status.
What advantages does this culture create for employee owners and for the business?
When you own something, you want to take care of it to the best of your ability. That’s something we see every day at VGM, employee owners continually owning their ownership to strive for success for themselves and the company. When we have our annual share price reveal each year and employee owners see that number, there’s a large sense of pride that comes with that. “I had a part in this.” You see this pride across all business units—teams coming together, whether it’s a singular business unit or something that spans multiple teams, we all strive for the same goal of making VGM the most successful it can be. That only works when everyone understands that they can make a difference.
Who or what reinforces ownership thinking on a day-to-day basis?
At VGM, all of our work is driven by our eight Power Of One Principles: Make A Difference; Welcome Change; Provide Meaningful, Memorable Service; Find The Fun In Your Day; Cheer Each Other On; Protect Our Company; Create Your Future; and Own Your Ownership. They establish the employee owner mindset and are the fundamentals of our interactions with our customers, our communities, and each other. Graphics of all eight principles are found on the walls at all VGM locations as a constant reminder of what we strive for and aspire to embody. But reinforcing an ownership mindset is much more than graphics on a wall.
VGM’s senior leadership does an incredible job of communicating to employee owners. CEO Jeremy Stolz sends out video updates, our CFO Barb Anderson has quarterly financial updates, and nearly every senior leader will send out emails regarding VGM’s achievements. The one concept that is consistent in all communications is that they make it clear that VGM is where it is today because of the employee owners. Having that type of communication from senior leaders makes employee owners feel seen and fosters a sense of inclusivity—it’s something you don’t really see elsewhere. Our Employee Ownership Ambassadors, a committee of around 20 employee owners across multiple VGM business units and locations, are the go-tos for all things employee ownership. They are central to promoting our ownership status throughout the company.
How does education—formal or informal—connect to ownership at your company?
There is always something to learn about employee ownership, no matter how long you’ve been an employee-owned company. And this couldn’t be truer for new hires. It can take time (months!) to really grasp the idea of employee ownership—even before someone applies to VGM, our recruitment posts talk about the wonderful benefit of employee ownership.
After our share price reveal event, we hold Understanding Your ESOP Statement webinars—these are mainly targeted toward employee owners receiving their first statement to develop an understanding of the life-changing wealth employee ownership brings. The webinar is open to everyone at VGM, even for those who may need a refresher on how to read their statements or new employee owners anticipating their first statements within the next year. Other tools utilized include the Wealth Calculator, a predictive tool allowing employee owners to visualize their future wealth, and the Total Rewards Statement which enables employee owners to see their current total wealth that combines their compensation, ESOP, 401(k) and other benefits.
Employee owners are also frequently asked to apply to present at ESOP conferences, where we’re able to share our expertise on employee ownership and learn from other employee-owned companies. VGM’s Compensation & Retirement Director travels to the other VGM locations across the U.S. with a Spanish interpreter to discuss employee ownership and the benefit of the ESOP to our warehouse workers, many of whom are Spanish-first speakers.
How does hosting ESOP Employee Accelerator sessions reflect your values as an employee-owned company?
Collaboration and education are two of the largest factors contributing to VGM’s success. That success wasn’t achieved by one person. These Accelerator sessions are a perfect combination of both collaboration and education—whether your company has been employee-owned for 15 years or you’re brand new, there’s something we can all learn from each other. Internally, we work together to see our company succeed. Externally, we want to help you so your company can succeed: because a strong community of ESOPs benefits us all.
For consideration in future Spotlight stories or to learn more about Accelerator classes, please contact Aaron Moberger at amoberger@esopassociation.org.
