Wolgast Blog

How Employee-Owned (ESOP) Companies Deliver More Efficient and Reliable Results

Posted by Cory Sursely on Wed, Jan 18, 2017 @ 09:10 AM


Companies that offer an Employee Stock Ownership Plan (ESOP) for their staff members provide an opportunity for their workforce to have a vested interest in their success.  By virtue this creates a long-term incentive for employees to stay with the company and an eagerness to make the company even more successful.

According to the National Center for Employee Ownership (NCEO) article, “Research on Employee Ownership, Corporate Performance and Employee Compensation” there are typically lower turnover rates at ESOP companies, therefore, an ESOP employer is more likely to keep the best employees on their roster.  For clients, this means that they will benefit from experienced, skilled employee-owners working on their project.  Long-term staff members should have a deeper understanding of what the company stands for and will pass along traditions and higher standards of quality as newer staff members join the organization.  Relationships and repeat business become a goal for every staff member on every level, not just the management or sales teams.

As an employee-owned company, all Wolgast employee-owners are entrusted to find ways to be more efficient in their work, suggest ways to perform better, be active with problem solving with the company or for clients, share employee-owner mentality, and lead by example.  Our folks do this to keep costs down for the company which enables us to be more competitive with our pricing and create a positive experience for our project owners.  Also, featured in the NCEO article, were results that showed ESOP companies have more longevity than their counterparts which shows that customer service and satisfaction mixed with a well-managed business results in long-term success of this type of organization. 

If you’re interested in a fair, competitive price by a skilled contractor that is focused on your satisfaction and that will be around for a long time, please contact us to build your commercial or industrial building.  We can also design it or if unfortunate mayhem strikes, we can restore it after the storm, flood, or fire.

Topics: Professional General Contractor, the Wolgast Way