Wiley|Wilson, a 100-percent employee-owned company, is pleased to celebrate Employee Ownership Month this October, along with thousands of other Employee Stock Ownership Plan (ESOP) companies across the country. Organized by the ESOP Association, an advocacy and education association of which Wiley|Wilson is a member, Employee Ownership Month is an opportunity to educate employee-owners and the public about the many benefits of ESOPs.
“Wiley|Wilson employee-owners recognize that our firm’s success benefits everyone and we take our ownership responsibilities very seriously,” said Fred Armstrong, PE, Wiley|Wilson Chairman and CEO. “Employee Ownership Month is an excellent opportunity to learn more about our specific plan and continue growing and promoting our ownership culture, both internally and externally.”
The firm’s ESOP Communications Committee has planned a series of activities throughout October in all of its offices to increase awareness about the company’s ESOP and emphasize the importance of employee-ownership. “The ESOP Communications Committee is tasked with promoting our ESOP and ownership culture all year,” explained Tyler Morris, PE, Engineer, Mechanical Department. Tyler is Chair of the ESOP Communications Committee. “Each October, though, the committee plans a full schedule of ownership-focused events, from office Olympics to our annual chili cook-off. Each event is intended to grow our ownership culture and give employee-owners several opportunities to learn more about our ESOP.
Employee Ownership Facts*
- There are approximately 10,000 ESOPs in place in the US, covering 10% of the private-sector workforce.
- Total assets owned by US ESOPs was estimated to be approximately $940 billion at the end of 2011.
- Research indicates that ESOP implementation results in more information sharing, increased communications, and greater involvement in decision-making for employee-owners.
- 83.3% of ESOP Association members report that motivation and productivity increased as a result of the ESOP.
*Data from the ESOP Association
For more information on ESOPs and Employee Ownership Month, please visit the ESOP Association’s website.