A new way to respect US workers

As we fire my grills and celebrate the achievements of US workers for 143^rd The year this day of work, refer to a powerful idea: giving workers a real share in wealth they help create. It is a promise of employee ownership and, specifically, ownership plans of employees or ESOPs. They enable workers to become co-owners of companies that help build.

With 30-plus years, they help create an ESOP and watching workers as owners, I can’t think about the better way to honor the work owner of employees in relation to roles in their lives. We hope that politics creators will read their stories – they compiled ESOP expansion Coalition – and facilitate more workers to become owners.

A new way to respect US workers – employee ownership

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Through the Mustafa Abou-Taleb’s accounts, the largest independent, distributor of aircraft and procurement and Austin Evans from Nashville marketing agency 5bi5, we understand how employee ownership is not only financial benefit, but also a catalyst for dignity, stability and purpose.

Mustafa Abou-Taleb was nine years on marketing job when he became restless. While working with the proposer, the client, noticed employees really happy and engaged. Reason? Were owners. It was stunned that the ESOP proponent allowed employees to build significant retirement savings without contribution to deposit towards their work. He did not have 401 (k) in his agency and every saved dollar came from his paycheck.

“I would like someone to send me,” he joked at the client’s contact when she said that a team member was recruited to another company. Shortly afterwards, he joined a marketing texts agreement.

“What drew me in the ESOP,” he says. “I felt something special, but until I saw my first date, my account has exceeded what I saved in 15 years of my wife and I welcomed our first child and the feeling of financial security was invaluable.”

But for Mustafa, it wasn’t just money. “He was a common feeling of responsibility and purpose in corporate environments,” he says. “ESOP encourages the way of thinking where the company is motivated to succeed because it directly affects all of us. I remember that one of my direct reports was chosen a more affordable project for the project, explaining,” It’s our money. “

Most Mustafa colleagues were in proposing for decades, and traffic is low “, because we build wealth in the smell of life for our families – and we all have a share in the outcome,” claims that in the outcome claims.

Mustafa and his wife just greeted her second son. “For the first time in my life I can look at our children without anxiety,” he says.

Austin Evans celebrated 10. Anniversary of his Marketing Agency in Disney, when they surprised, founders discovered 30% of employees via ESOP. Most teams never heard about ESOP, but the owners explained that their jobs were confident, roles would not change, and leadership stayed. The next day in six rooms, a different aspect of ownership of employees explained.

“The more I learned about this benefit and that I will only receive it by doing my job, it is more interested in being grown,” says Austin.

Team members accepted their new roles as partial owners with an increased level of intention around their work. Then another bomb came: the agency has acquired 3LS, 100% holding companies owned by employees. Overnight, Austin and his colleagues became full owners.

“Until then, I did a ton of research on employee ownership and everything was in that” “Austin remembers.” I have six-year-old son, and retirement always upset me. When I first arrived in Nashville, I waited for writing music before taking long to start my job. Our first ESOP statement did not reach any difference, but ESOP has already made a difference, but ESOP has already made a difference. “ESOP has already made a difference in it, but the ESOP has already made a difference.” ESOP has already made significance.

Despite their transformative influence, Esops remain rare. In California, where Mustafa works, less than 1% of private companies offer them. And there are only 95 ESOPs in Austin’s Tennessee’s home. However, the advantages are clear: they build wealth; reduce traffic and extend the mandate; Encouraging responsibility, innovation and pride; And provide capital by enabling workers to participate in success, they help create. It’s not a miracle research It shows that 93% of employee owners report satisfaction with their ESOP plans.

Mustafa and Austin’s stories underlines that employee’s ownership is no idea, but a proven path to a better future. While we celebrate the day of work, let’s move on and respect for the action. Let us devote to make ESOPS more common, available and impact.

Because the best way to respect American workers are not just words, but with wealth, dignity and opportunities. Let’s make them owners.