Believe it or not, ESOP companies create jobs more quickly than non-ESOP companies. Why? When employees realize that their performance on the job matters because they have a stake in the company, they’re more motivated. The company prospers and as a result, more jobs are created and/or maintained.
In this NBC10 Philadelphia news report, Ken Baker, CEO of New Age Industries, talks about his belief that ESOPs create “shared capitalism.” “Shared capitalism is when you have the company management and workers all working together sharing in the wealth of the organization or enterprise,” Ken states.
To speak with an ESOP consulting professional about whether or not an ESOP might be right for your organization, contact SES Advisors.