ESOP Association Supports Senate Resolution Recognizing Employee Ownership Month

WASHINGTON, Oct. 23, 2017 /PRNewswire-USNewswire/ -- The ESOP Association applauds Senator Tammy Baldwin (D-WI) for issuing Senate Resolution 295, which recognizes both October as Employee Ownership Month and the value of employee ownership to businesses, employees, and the community.

As noted in the resolution, companies with employee ownership provide greater job security to employee owners, are more resilient when facing economic challenges, and often outperform conventionally-owned business.

Employee Ownership Month is a longstanding celebration of employee ownership, and of the largest and most successful form of employee ownership, the ESOP. Each October, ESOP companies around the country work to educate employees about their ESOP, celebrate the success of their combined efforts, and contribute to local charities.

"The observance of Employee Ownership Month for more than 20 years has been a significant factor in helping employee owners understand what it means to be part of the capitalistic system," said ESOP Association President J. Michael Keeling. "At ESOPs, employee owners share in the wealth they help generate. Nothing is more fair to employees—or capable of inspiring greater effort—than a just share in the rewards."

To guide the efforts of employee owners, ESOP companies typically invest more into training and other resources than conventionally-owned businesses. ESOPs also typically engage in open book management and other practices that help employee owners understand how their efforts contribute to the overall health of the company, as reflected in its stock price.

While these educational efforts typically occur throughout the year, many take place during Employee Ownership Month.

About the ESOP Association

The ESOP Association is America's largest employer-sponsored advocacy and education association focused on employee stock ownership plans. Founded in 1978, the Association seeks to enhance federal laws governing ESOPs, provide members with expert information, and fund research via the Employee Ownership Foundation (an affiliate).

The ESOP Association is a national non-profit organization with 18 local Chapters. Its members include ESOP companies, companies considering an ESOP, and service providers that assist in setting up and maintaining ESOPs.

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SOURCE The ESOP Association

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