For years many ESOP companies have been celebrating Employee Ownership month every October and this year we here at Butler Till get to be a part of the celebration! It’s time for us to take the opportunity to spread the word about ESOP’s and why we are so proud to be an employee owned company.
Here are just a few facts you may not know about being an employee owned company:
- 84% of ESOP Association members report that motivation and productivity increased as a result of the ESOP.
- ESOPs exist primarily in small businesses – 72% of Association members have less than 250 employees.
- An overwhelming majority of ESOP companies have other retirement and/or savings plans, such as defined benefit pension plans or 401(k) plans, to supplement their ESOP.
- Total assets owned by U.S. ESOPs is estimated to be $869 billion at the end of 2009.