Is your company a good fit to become employee owned? Find out from Shawn Burcham, CEO of successful ESOP PFSbrands!
An Employee Stock Ownership Plan (ESOP) is a benefit plan that offers advantages to business owners, their companies, and their employees. For a company to succeed, every single employee needs to engage in KEEPING SCORE. But that means more than just looking at the numbers. It’s impossible for a team to develop a winning mindset without ensuring that every player has skin in the game.
ESOP is the perfect business model to do just that. It builds a culture of GRITT, responsibility and accountability. It gets everyone in your company to start thinking and acting like owners. Moving to an ESOP model was one of the factors that contributed to PFSbrands double-digit growth year over year for 20 years, and nearly $70MM in annual sales this past year.
So, how do you know if moving to an ESOP model is right for your company? We’ve created this short survey to evaluate your business culture and positioning regarding where you are in your ESOP journey, and to see if implementing such a model makes sense. Answer each of the following questions in reference to the current status of your business. Afterward, you’ll receive our recommendations and next steps for taking your business to the next level!