INSIDE AN EMPLOYEE OWNERSHIP SUCCESS STORY: How employee ownership is creating millionaires at Central States Manufacturing.

Autor: Merrell, Spencer
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Zdroj: Utah Business. Mar2024, Vol. 39 Issue 3, p22-24. 3p.
Abstrakt: Central States Manufacturing, a nationwide provider of metal building products, has recently expanded into Utah and established its 12th regional manufacturing plant. The company operates under an employee stock ownership (ESOP) model, meaning that every employee is paid in both salary and shared stock options. This model creates a culture of shared ownership and financial incentives, with the company currently having 42 millionaires among its employees. Central States also has a program called SHINE, where employees contribute to a nonprofit fund that helps cover hardships for fellow employees. The ESOP model has tangible financial benefits and offers a greater purpose for employees, fostering a strong sense of community within the company. [Extracted from the article]
Databáze: Regional Business News