In a recent paper for the National Center for Employee Ownership, Corey Rosen finds that people who work for employee-owned companies are much less likely to be laid off than those who do not. Analyzing data from the 2010 General Social Survey, Rosen shows that 12.1 percent of all working adults in the private sector reported being laid off in the last year compared to just 2.6 percent of those respondents who says they own stock in their company through some kind of employee ownership plan. Rosen estimates that during that year the implied federal savings from the lower layoff rates of employee owners is $23.3 billion and that the implied savings for ESOPs and stock bonus plans alone is $13.7 billion.
Headquartered in Jacksonville, Haskell is an integrated design-build firm founded in 1965 with four locations. In 2008, the company became employee-owned and currently has 601 ESOP participants. To further communication between employees and senior management following the ESOP transition, the ESOP Communication Committee was formed to liaise for both parties. The firm currently has more than 690 employees, generates revenue of over $590 million, and has completed 1,500 projects to date.
100 percent of the New Belgium Brewing company is owned by the coworkers through an Employee Stock Ownership Plan (ESOP). The company also offers financial training and book management so all employees are educated on the business of doing business. Read more about New Belgium Brewing...
Over 40 percent of the New Belgium Brewing company is owned by the coworkers through an Employee Stock Ownership Plan (ESOP). The company also offers financial training and book management so all employees are educated on the business of doing business.
In business since 1966, Gripnail became a 100 percent employee-owned company in 2004. The corporation specializes in the manufacturing of specialty fasteners and fastener application equipment, especially to the surface of metal.All products are produced in East Providence and distributed both domestically and internationally.
On July 23rd, 2012, Senator Bernie Sanders (I-VT) introduced two bills to support the expansion of employee owned businesses in the US. The underlying rationale behind the legislation focuses on the increased productivity and stability of businesses in which employees are also owners. By helping employee ownership and participation in businesses to become more widespread across the United States, the two bills would help preserve jobs and build a stronger economy.
Austin Industries is a construction company that provides nearly every type of civil, commercial and industrial construction service to a variety of industries and is 100% employee owned. Read more about Austin Industries...
Maryland Brush Company was established in 1851 and is a leading manufacturer and supplier of industrial brushes to customers on every continent. A subsidiary of Pittsburgh Plate & Glass from 1901 to 1989, it was spun off and incorporated as ESOP in 1990 with the assistance of the United Steelworkers. It is 100 percent owned by its 39 employees.
Founded in 1959, Green Contracting Company, Inc. is a mechanical contractor specializing in heavy mechanical construction with more than 100 employees and annual revenues of roughly $35 million. In 1999, the company became 100 percent employee-owned through an ESOP.
With roots back to early “scavenger” companies founded in San Francisco in the early 1900s, Recology is a 100 percent employee owned company dedicated to building resource ecosystems that protect the environment and sustain communities. To do so, the company’s services include street and commercial facility cleaning, landscaping and maintenance; waste collection, recovery, processing, sorting and transfer; waste recycling education; organic material collection and processing; and landfill management. In all its work, the company is committed to a “zero waste” approach, which means finding ways to use waste products in a way that benefits the environment and only landfilling materials for which no use has yet been found. Today, Recology is recognized as the largest employee-owned company in the resource recovery industry and serves as a parent to over 40 subsidiaries that provide integrated services to over 670,000 residential and 95,000 commercial customers in California, Oregon, Nevada and Washington. Recology hires directly from the communities it serves, aims to purchase local goods and services when possible, and supports community development programs.