RETOOLING THE TRADES
THROUGH EMPLOYEE OWNERSHIP
OWNERSHIP
WE ARE PROUD TO BE EMPLOYEE OWNED
Since becoming an employee-owned company (ESOP), our company has unlocked our ability to tap into our team’s commitment to a greater vision, helping us to achieve smarter, more efficient growth, with a focus on each other and not just the bottom line alone. Together, with our employee-owners, we have experienced greater success as a family of partners. As we look ahead, we see our commitment to be THE employer of choice – dedicated to creating sustainable retirement for every employee – the key to our future.
hb global ceo, BOB WHALEN, EXPLAINS WHY ARE WE AN ESOP
BOB WHALEN'S PODCAST ON EMPLOYEE OWNERSHIP
WHAT IS AN EMPLOYEE STOCK OWNERSHIP PLAN?
An Employee Stock Ownership Plan (ESOP) is an employee-ownership program that provides a company’s workforce with an ownership interest in the company.
In some ways, an ESOP is similar to a retirement plan due to it being governed by the same laws and regulations as a 401(k). Unlike the typical retirement plans.
ESOPs:
-
Are required by law to invest primarily in the shares of stock of the sponsoring employer.
-
Are trusts that hold shares of the business for employees, making them beneficial owners of the company that employs them.
-
Can provide tax benefits to the company and to the existing owner(s).
-
Can borrow money from related parties to finance company projects — including the tax-advantaged purchase of the company’s shares of stock.
FREQUENTLY ASKED QUESTIONS
