The ESOP Association sent out the following press release this morning. We wanted to share the release with readers here on the blog.
For Immediate Release: October 1, 2012
For More Information: Amy Gwiazdowski, 202/293-2971, amy AT esopassociation.org
Employee Ownership Community Celebrates Employee Ownership Month
October 1, 2012 (Washington, DC) – The ESOP Association and its members will celebrate Employee Ownership Month this October, which is a tribute to the tremendous spirit of employee ownership.
Employee Ownership Month is an opportunity for ESOP (employee stock ownership plan) companies across the nation to educate employee owners, the public, and government officials about the undeniable benefits of employee ownership for employees, their companies, the communities they are a part of, and the nation. For more information about Employee Ownership Month, please visit: http://www.esopassociation.org/resources/resources_month.asp.
“I am pleased to announce the start of Employee Ownership Month,” said ESOP Association President J. Michael Keeling. “For over 20 years, our members have been working to promote employee ownership and its benefits every day and deserve to be honored for their efforts.”
Facts about employee ownership in the U.S.:
- There are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees (approximately 10% of the private sector workforce).
- The 21st Annual Economic Performance Survey conducted in 2012 by the Employee Ownership Foundation found:
- 93.3% of survey respondents reported that creating employee ownership through an ESOP was ‘a good business decision that has helped the company.’
- 63.8% of companies indicated they have created an ESOP education program or ESOP advisory committee since establishing the ESOP.
- 76% of respondents indicated the ESOP positively affected the overall productivity of the employees.
The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website – www.esopassociation.org and blog – www.esopassociationblog.org.