Employee Ownership Community to Celebrate throughout October
WASHINGTON, Oct. 3, 2011 /PRNewswire-USNewswire/ -- The ESOP Association and the employee ownership community will celebrate Employee Ownership Month, which is a tribute to the tremendous spirit of employee ownership, throughout the month of October.
Employee Ownership Month is an opportunity for ESOP (employee stock ownership plan) companies across the nation to educate employee owners, the public, and government officials about the incredible benefits of ESOPs. For more information about Employee Ownership Month, please visit http://www.esopassociation.org/resources/resources_month.asp.
"It's my pleasure to announce the start of Employee Ownership Month," said J. Michael Keeling, president of The ESOP Association. "Our members work to promote employee ownership and its benefits every day and deserve to be honored for their efforts."
Facts about employee ownership in the U.S.:
- There are approximately 11,500 ESOPs in place in the U.S., covering 10 million employees (approximately 10% of the private sector workforce).
- The 20th Annual Economic Performance Survey conducted in 2011 by the Employee Ownership Foundation found:
- 92.2% of survey respondents reported that creating employee ownership through an ESOP was 'a good business decision that has helped the company.'
- 58.3% of companies indicated they have created an ESOP education program or ESOP advisory committee since establishing the ESOP.
- 72.9% of respondents indicated the ESOP positively affected the overall productivity of the employees.
The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy.
SOURCE The ESOP Association