The business owner’s best kept secret to success and succession
For most businesses, the employees are the most valuable assets. Imagine, if job satisfaction skyrocketed, how much would that increase the productivity of a business and keep people in their jobs longer term? Studies conducted by the National Center for Employee Ownership found that after becoming employee-owned business productivity increases 4-5% on average and job tenure is 53% longer.
From Employee Stock Ownership Plans (ESOPs) to alternative trusts and cooperatives, employee ownership is becoming a preferred strategy for succession planning.
However, the work to raise awareness of this option is far from over! We were heartbroken to hear recently from a business owner who told us,
“If I had know about employee ownership sooner, I wouldn’t have listed it for public sale.”