The ESOP Association sent out the following release this morning announcing the start of Employee Ownership Month 2014.
For Immediate Release: October 1, 2014
Employee Ownership Month — the Story of ESOPs
Month-long Celebration Begins October 1st
October 1, 2014 (Washington, DC) – The ESOP Association and its members will celebrate Employee Ownership Month, a tribute to the tremendous spirit of employee ownership, throughout the month of October.
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/advocate/employee-ownership-month.
“I’m pleased to announce the start of Employee Ownership Month 2014 and am looking forward to a month of celebrations with our members,” said ESOP Association President, J. Michael Keeling. “For over 20 years, our members, and the ESOP community, have been working to promote employee ownership and its benefits every day. During this month, we will celebrate contributions to making ownership ‘real’ for employee owners and ESOP companies across the nation.”
To view additional comments by Mr. Keeling on Employee Ownership Month, click below.
Employee ownership facts:
- 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 23rd Annual Economic Performance Survey conducted in 2014 by the Employee Ownership Foundation found:
- 93% of survey respondents reported that creating employee ownership through an ESOP was ‘a good business decision that has helped the company.’
- 70% indicated revenue increased
- 64% 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.