What is ESOP?
Employee Stock Ownership Plan (ESOP) is an employee benefit that provides company stock to its employees. Several features make ESOPs unique.
- An ESOP is required by law to invest primarily in the securities of the sponsoring employer.
- An ESOP is unique among qualified employee benefit plans in its ability to borrow money.
- As a result, "leveraged ESOPs" may be used as a value-added advantage to corporate finance.
- All full-time employees participate, reaping the benefits of business success
Why it's Important?
There are approximately 11,000 employee-owned companies in the United States; only about 1,000 of those are 100% owned by employees.
Recently, SC2 won the Illinois Employee-Owned Company of the Year!
This award reaffirms our belief that employee ownership really does make a difference!
At SC2, the success and growth of our employee-owners is directly related to the success and growth of our company. Everyone at SC2 has a vested interest in the success of the company giving us a competitive advantage.
Business ownership instills a sense of pride in our employees. Our talented employee owners take great pride in servicing our customers. Employees are rewarded through additional compensation and increases in stock price.
The involvement and commitment associated with being an owner has continued to be the recipe for our success.