If you ask us, Employee Share Ownership Plans are a tool for meaningful employee engagement and small- and medium-business growth, one that can dramatically impact the livelihood of Canadians.
If you’re looking for a definition, we offer this: ESOPs are stock equity plans that allow employees to acquire ownership in a company, heightening employee buy-in and investment, while fostering accountability and an ownership mentality. They may include stock options, stock purchase, phantom-stock ownership or a combination of alternatives. Employee ownership can range from 1% to 100% of the company. As employees become owners, they share in the risks and rewards of the company.
At ESOP Builders we helps companies develop customized plans to suit business and business-owner needs, following a detailed consultation with our team.
Why implement an ESOP?
- attract and retain talented staff
- improve productivity and profitability
- engage employees in big picture of company
- flexible succession plan
- method for employees to build long-term wealth
- source of capital for company