• Canadian employee ownership,  Communication,  Culture,  ESOP Benefits,  participative culture

    The magic ingredient for creating a successful ESOP

    Employee ownership works. It makes companies, on average, better, faster, and stronger. The typical employee-owner stays with his or her company longer, and many of them come up with the kinds of creative ideas that can push expenses lower than managers thought possible, or that open up new lines of business. Overall, the statistics show that, on average, everyone comes out ahead with employee ownership. Not surprisingly, some companies do far better than their peers, and some employee-owned businesses do not get any performance benefit at all, or may even do worse.  What separates the companies that outperform from the ones that underperform? A successful ESOP requires open communication. The…