Recently, B.C., Alberta and Ontario have committed to raising the minimum wage and predictably in all cases, these wage hikes are met with scorn and praise from both sides. While a minimum wage is an essential factor to protect workers and create a minimum standard of living, there is a better solution that Canada should be exploring to help more people build wealth and ensure a competitive economy.
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Studies in the United States over the last 40 years have repeatedly identified that an employee share ownership plan (ESOP) with a participation component outperforms one without a participation element.
Participation means that the employees take on the responsibility of their particular job as well as the accountability that goes along with it by participating in decision-making in their sphere of influence within the organization.
Participation is vital to an ESOP. In fact, the same studies have shown that ESOPs without employee participation might be worse than having no ESOP at all. This negative result has been calculated at upwards of 6% of reduced production.
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Hello,
We’re very pleased to introduce our new website! We hope you find everything you came for.
If you have any questions related to anything you see here or are interested in learning more about ESOPs, ESOP Builders or just fancy a chat, please don’t hesitate to reach out directly at info@esopbuilders.com.
Don’t forget to check our blog often, as we’ll be posting industry content, news, and notes that may benefit you!
We look forward to blogging for you!
–ESOP Builders
