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Business Professionals

Advantages of Employee Ownership

Invest in Your Employees
and Your Business with an ESOP

As of 2022, the National Center for Employee Ownership (NCEO) estimates  roughly 6,500 ESOPs covering almost 14 million participants.

 ESOP Rollout

The goal in rolling out your ESOP is to help your employees understand the ‘why’ behind the ownership transition, create trust and transparency in the conversion, and align the next steps in the lifecycle of the ESOP.

With our assistance, you can

:

  •  Communicate questions your staff may have during the ESOP transition

  • Establish an ESOP strategy for your announcement and rollout

  • Identify best practices to include in the first phase of employee ESOP education

  • Partner with executive leadership and administrative talent to identify 12-month ESOP goals

 ESOP Administration

The in-house ESOP administration functions will become a daily responsibility for your organization. With our assistance, you can

:

  •  Coach leadership on future administrative and operating policies

  • Determine best practices in human resources information systems/payroll for annual census reporting

  •  Develop best practices for your administrative lead on managing and preparing for your qualified plan audit(s), ESOP, and 401k, if applicable 

  • Establish annual timeline in conjunction with other benefit administration responsibilities

  • Identify best practices and rollout for delivering annual employee statements 

  • Mentor ESOP administrative lead and leadership team on the annual administration cycle

Workforce Planning & Advancement

While one of the benefits of the ESOP is nothing changes, it is also an invitation to think in new and creative ways. Research shows informed, interested, and involved employees increase company performance. With our assistance, you can​:

  •  Consider opportunities and action plans to measure employee engagement

  • Determine opportunities to educate, recognize, and celebrate staff

  • Establish your ESOP communications team and meeting rhythms

  • Identify financial literacy learning opportunities for your staff

  • Provide opportunities for staff to understand how company decisions and financials impact their role, daily operations, and business objectives

  •  Select mediums to provide cascading communications with staff

 Workforce Planning & Advancement

Your ESOP will take center stage in aligning your employees to your company’s business plan. The workforce planning process will be the foundation for talent acquisition and employee development to develop high-functioning and productive employees. With our help, you can:

  •  Determine rewards and recognition programs to support your workforce

  • Develop branding and marketing strategies to attract and retain candidates and staff

  • Identify people development strategies and talent needs to aid the growth of the company

  • Reinforce your development of recruiting and selection strategies

When we say experts, we mean experts.

Below is a list of accredited affiliations and associations our audit team work with on a regular basis.

PrimeGlobal
AICPA-Employee Benefit Plan Audit Quality Center
Florida Insitute of Certified Public Accountants
Association of Certified Fraud Examiners
National Association of Certified Valuators and Analysts
The ESOP Association
National Center for Employee Ownership
Phillip Hayes, The ESOP Guy

Journey to an ESOP:
THE ESOP GUY

In “The Journey to an ESOP,” Partner, Phillip Hayes addresses ESOPs from a business owner’s perspective.

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