Sterling Global Operations moves to No. 22 on the list of largest employee-owned companies
LENOIR CITY, Tenn., Oct. 15, 2015 /PRNewswire/ -- Sterling Global Operations (SGO) has vaulted to No. 22 on the list compiled by the National Center for Employee Ownership of America's largest employee-owned companies.
In March 2015, the NCEO ranked SGO as No. 41 on the list of the country's 100-largest Employee Stock Ownership Plan (ESOP) companies. The latest survey moves SGO up 19 places.
The NCEO's list includes companies that are at least 50 percent owned by an ESOP or another broad-based employee ownership plan. SGO is 100 percent employee-owned.
"We thought SGO would advance on this list, but to move to No. 22 is significant on several levels," said Alan Weakley, SGO president and chief operating officer. "Our ESOP helps us attract great employees; ownership is a motivator for all of us. Also, there's a sense of pride SGO employee-owners feel about their stake, and their role, in a company that is doing important things for our clients around the world."
According to NCEO research, an ESOP:
- grows about 2.5% per year faster after an ESOP is set up than would have been expected based on their performance relative to peer companies prior to an ESOP
- sees its participants average about 2.5 times more in total retirement assets than do employees in non-ESOP companies
- experience up to one-third less reductions in force
SGO is an integrated stability operations company serving clients on commercial, governmental, and humanitarian projects in multiple countries around the world. The company serves customers with munitions response; intelligence support; logistics; risk management; communications; life support, and other services in some of the world's most challenging and hostile environments. The company's website is www.sterlinggo.com.
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SOURCE Sterling Global Operations, Inc.
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