The National Center for Employee Ownership Releases its 2023 Employee Ownership 100 List

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The National Center For Employee Ownership

Dec 11, 2023, 10:45 ET

COVINA, Calif. , Dec. 11, 2023 /PRNewswire/ -- The National Center for Employee Ownership ("NCEO"), a nonprofit organization that has been supporting the employee ownership community since 1981, is pleased to announce its 2023 Employee Ownership 100 list.

The list includes the largest broad-based employee-owned companies in the US that the NCEO could verify using governmental or other credible third-party sources. Most are owned by an employee stock ownership plan (ESOP), and one is a worker cooperative. To be on the list, companies must be at least 50% employee-owned; most on the list are 100%. Collectively, these broad-based plans employ close to 685,000 people.

The NCEO compiled this list through a comprehensive analysis of all ESOP filings and its own original research to determine ownership percentages. Since percent employee-owned is not required to be reported, the NCEO has been conducting a project to compile that data, including viewing all of the websites of ESOPs. The Employee Ownership 100 list reflects that ongoing work.

At the top of the list are some of the largest and popular grocery stores and supermarkets. Beyond that, there is a real mix of industries represented, including a health and home care company, a military housing business, and many more.

Employee ownership generally and ESOPs more specifically have a long history of showing tangible benefits to both companies and employees while creating a viable model for business succession. In 2020, total contributions to ESOP accounts were $94 billion (or an average of $6,758 in contributions per participant). The average ESOP account balance is more than double the average 401(k) account balance at a closely matched non-ESOP company offering only a 401(k) plan; in addition, a large majority of ESOP companies offer a 401(k) plan alongside the ESOP, further amplifying the benefits.

"After many months of in-house research, we are excited to release this year's Employee Ownership 100 list," said Nancy Wiefek, Research Director at the NCEO. "At its core, our organization exists to help employee ownership thrive. Recognizing employee-owned companies year after year on the Employee Ownership 100 list not only amplifies these companies' names and achievements but also the power of employee ownership itself."

About the NCEO
The National Center for Employee Ownership ("NCEO") is a 501(c)(3) nonprofit organization that has been supporting the employee ownership community since 1981. Its mission is to help employee ownership thrive. The NCEO helps its thousands of members make smart decisions about employee ownership with everything from reliable information on technical issues to inspiration to help companies reach the full potential of employee ownership. In addition, the NCEO generates original research, facilitates the exchange of best practices at its live and online events, features the best and most current writing by experts in its publications, and helps employee ownership companies build ownership cultures where employees think and act like owners. For more information, visit www.nceo.org.

Media Contact
Timothy Garbinsky, Communications Director
The National Center for Employee Ownership
510-208-1310
[email protected]

SOURCE The National Center For Employee Ownership