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.
The ESOP Association
ESOP Association Resources
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)!
May. 31
The history of M. Dyer Global started off with the vision of Medford Dyer back in the late 1960s. At the time, only a few agents assisted the Department of Defense with logistic services in the Pacific. He started M. Dyer & Sons in 1968 when his oldest son was still in elementary school. He purchased a few trucks and a forklift by mortgaging his house, rented a warehouse, and soon after, about a dozen employees joined him to start M. Dyer & Sons.
May. 24
An ESOP can connect employee actions with company success, but that doesn’t automatically result in employee-owners taking responsibility for the success of the company. Sharing financial information is a critical first step to provide employee-owners with an understanding of how the business is doing. In addition, it’s essential to build people’s financial literacy and create systems for participation that empower employee-owners to act on the financial information shared and positively impact company performance.
What financial information should you share?
What financial information should you share?
May. 17
Every spring, a portion of the TEA Board of Directors turns over as terms expire and a new slate of nominees are put before the Association’s membership for election. This spring will also bring forward a biennial change in officers alongside those new faces joining the Board for the first time. Terms will begin on May 1 and last for two years.
May. 10
Anyone involved with the ESOP community for any length of time has been confronted, and confounded, by the difficulties posed by the U.S. Department of Labor. The DOL’s enforcement division – the Employee Benefit Security Administration (EBSA) – was tasked under ERISA with serving as the protector of employee beneficiaries of qualified retirement plans.
May. 03
DOL Commits to Provide Long-Sought Regulatory Clarity with Stakeholder Input on the Valuation of Company Shares to be Bought by an ESOP
In a major victory for ESOPs, the U.S. Department of Labor earlier this month committed to move forward with a public notice and comment rulemaking on a key regulation the employee ownership community has sought since ESOPs were first created in 1974. The regulation will clearly define Adequate Consideration under Section 408(e) of the Employee Retirement Income Security Act of 1974 (ERISA), something The ESOP Association has long fought for.
In a major victory for ESOPs, the U.S. Department of Labor earlier this month committed to move forward with a public notice and comment rulemaking on a key regulation the employee ownership community has sought since ESOPs were first created in 1974. The regulation will clearly define Adequate Consideration under Section 408(e) of the Employee Retirement Income Security Act of 1974 (ERISA), something The ESOP Association has long fought for.