The simple fact is that ESOPs are here to stay as an effective and powerful business succession strategy. This isn’t merely wishful thinking from a firm of strong ESOP believers, it’s evident by the encouragement that Congress keeps showing. Take the pilot program created by Section 874 of the National Defense Authorisiation Act (“NDAA”) which […]
A Senate committee has approved a measure to expand employee access to workplace retirement plans. It seems like a simple enough statement that might not register as newsworthy, but this is anything but simple and in fact, history has been made! In June 2022, the United States Senate Health, Education, Labor, and Pensions (HELP) Committee […]
ESOPs (employee stock ownership plans) have historically been misunderstood. As a result, they haven’t always been as popular as, say, opting to sell outright to a private equity group.
An ESOP (Employee Stock Ownership Plan) is a type of employee benefit plan that gives employees stock options and allowing them to buy shares in the company at a set price.
Employee stock ownership plans (ESOP) are becoming increasingly popular, not just as a viable succession plan for business owners, but also for the company.
“Train people well enough so they can’t leave, treat them well enough so they don’t want to.” – Richard Branson
“Paying your employees well is not only the right thing to do, but it makes for good business.” – James Sinegal
“The added cost of higher wages is offset by savings from lower labor turnover and higher labor productivity.” – Anonymous
“You don’t build a business – you build people – and then people build the business.” – Zig Ziglar
“When employees are happy, they are your very best ambassadors.” – James Sinegal