October is National ESOP Month, and here at EKI we are proud to say that we are employee-owned!
In case you didn’t know, ESOP stands for Employee Stock Ownership Plan, which means that a company’s capital stock is owned by its employees. Being employee-owned means that each of our team members has a vested interest and stake in EKI’s future growth, direction, and profitability.
Working for an ESOP like EKI has some great benefits, including:
- Financial security for your future. In an ESOP retirement plan, the company funds the plan, not the employee, which means more money in your pocket.
- More job security. Working for an ESOP provides more job security than other publicly or privately held companies. According to the Employee Ownership Foundation, ESOP companies are 7.3 times less likely to lay-off employees.
- Overall employee satisfaction. Because the success of an ESOP is dependent on the productivity of its team members, everyone works together to keep bringing in business. The effort and commitment employees put into their work for the company contributes to successful career growth, and overall success for the company.
We are a company of many owners working towards one dream. From financial security and job longevity to overall satisfaction in the workplace, being employee-owned means that we each have a stake in EKI’s future.