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ESOP Details
As an employee-owner, you may already recognize the significance of our Employee Stock Ownership Plan (ESOP). However, we always want to equip you with the right tools so you can help spread the wealth of knowledge to other kids on the block. Whether you’re a veteran or a newbie to this whole ESOP thing, we’re happy you’re here. We’re about to unpack the cold hard facts, answer some frequently asked questions and show you why our ESOP is the real deal. You’ll want to hear this.
At Emery Sapp & Sons (ESS), our ESOP is the foundation of our company values. It serves as a cultural catalyst, elevates our recruitment and retention strategy, and inspires high-performance amongst current employee-owners. We live and breathe by that. Now you might be thinking “great, I already know this.” But let’s stop and smell the roses for a second. Have you thought about why you chose to join an ESOP and how our company truly measures up to the alternative? Let’s break it down.
Let’s say you join a union and work for an average construction company. Here’s what you might expect:
- Work alongside people who may not have a vested interest in the company’s success
- Receive a paycheck
- Indirectly contribute to the company’s performance
- Only leadership or office personnel share in company profits
- Limited ways to create wealth for retirement
- Pensions are underfunded and not guaranteed at retirement
ESOP Benefits
If you’ve made the decision to join our 100% employee owned merit shop construction company, you’re already reaping these benefits:
- Work alongside a dedicated team of owners
- Receive competitive compensation package that includes company stock
- Directly contribute to the company’s performance
- Every team member shares in company profits
- Unlimited potential to create wealth for retirement
- Retire confidently
Before we continue, let’s get one thing straight. We value and respect our union partners and fellow tradespeople. There’s upsides to all avenues of construction. But simply put, we’ve got a pretty cool thing going here. We take pride in our ownership culture and want to show you the benefits of being part of a dynamic 100% ESOP. So, here’s the ESOP lay-of-the-land in case you choose to join us.
FAQs
GET THE ESOP ADVANTAGE FAQs
As a merit shop contractor and 100% employee-owned firm, a career at ESS gives you the opportunity to broaden your horizons. Joining our ESOP isn’t a trade-off, the advantages are a given. Take a look at these frequently asked questions on the topic:
Q: How do I benefit from ESS being 100% employee owned?
A: Being 100% employee owned means every person who works for ESS benefits from our success. Our profits stay right where they should – with the people who work hard to build it.
Q: Why is ESS proud to be a merit shop contractor?
A: Being a merit shop contractor aligns with our values. ESS believes in economic freedom within a free-market economy, with open and fair competition. We support an approach to construction based solely on merit that encourages the highest levels of personal and company performance.
Q: Some contractors are employee owned and their workforce is union. Why does ESS maintain it’s merit shop status?
A: If you join a union, you are a member of a collective bargaining agreement and ineligible to participate in any ESOP. If a contractor is employee owned and has a union workforce, this means the union team members may contribute to the company’s performance but do NOT share in company profits. Those company profits are only shared among non-union leaders and office personnel. At ESS, ALL of our team members are employee-owners, contribute to the company’s performance and share in our company profits. ESS maintains its merit shop status to ensure our team members in the field, the office, and the board room are rewarded equitably.
Q: Does being an ESOP give ESS a competitive advantage?
A: Being 100% employee owned means our team members are personally invested in the success of each project. This accountability drives operational excellence and extremely high performance. This is an integral part of ESS’ competitive edge. According to The ESOP Association, ESOP companies outperformed S&P 500 total return index in terms of total return per participant by 62%! We won’t argue with that!
Q: When ESS employee-owners retire, can they do so confidently?
A: Absolutely. Our ESOP is structured for long-term sustainability. Our ESOP is a wealth building tool for current and future generations of employee-owners. Our ESOP is routinely evaluated and updated as needed. When you retire at ESS, you can do so knowing every bit of your hard-earned money is accounted for – and yours to keep.
Calculate Your Benefits
Still not convinced of the ESOP advantage? Fine, we’ll bring back an old friend we call “The ESOP Wealth Calculator.” We strategically developed this nifty tool a little while back to show current and future employee-owners the extraordinary benefits you receive when you are a part of the ESS ESOP. Crunch your own numbers below.
Calculate your potential ESOP wealth.
Watch Video Tutorial for help.
RESOURCES
Learn how the ESOP Advantage truly measures up. Want to keep the pulse on what’s currently impacting Merit Shop contractors like ESS? Stay up-to-date with news and legislative updates from these industry resources: