WHAT IS AN ESOP?
Like a publicly traded company, an Employee Stock Ownership Plan (ESOP) is a legal business structure that utilizes shares held in Trust to represent ownership in, as well as the overall value of, the organization. However, whereas shares in a public company are available to the general public with share value being determined by supply and demand in the open market, ESOP shares are only available to employees of the company and the share value is determined annually by an independent valuation firm selected by the ESOP trustee.
There are approximately 6,500 ESOPs in the U.S. today. Like Windings,
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ESOPs cover over 14 million participants, of whom 10.3 million are active participants
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The number of unique companies with an ESOP is approximately 6,272 (a company may sponsor multiple plans)
EMPLOYEE OWNED (ESOP)
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Employee benefits,
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Greater overall job satisfaction
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Pride in ownership
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Positive, team-oriented work environment
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Significant growth opportunities
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Higher long-term compensation
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High job security
Company benefits,
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Happy, motivated, highly engaged employees
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Deep personal and professional employee interest in the success of the company and its customers
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Higher employee retention
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Fosters long-term thinking, planning and investment
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Instills employee focus on customer satisfaction and continuous improvement
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Generally higher overall productivity and profitability
Customer benefits,
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Strong, ongoing commitment to customer success and satisfaction
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Highly responsive service and support
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Higher quality and delivery
WHAT ARE THE BENEFITS OF AN ESOP
The ESOP structure instills a sense of determination, engagement and ownership in employees, creating a Win-Win-Win scenario for the Company, its Employees and its Customers.
WHAT DOES IT MEAN TO BE AN EMPLOYEE OWNER AT WINDINGS?
Company ownership affects everything we do at Windings; from how we interact with each other to how we satisfy the needs of our customers. As employee owners,
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We understand how we contribute to the success of our company
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We are committed to doing what is right, and to being an advocate for our customers
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We respect and seek solutions to our customer’s needs
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We appreciate others and value their opinions
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We listen to what others have to say and empathize with their situation
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We stay engaged, and we value continuous improvement and innovation
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We take responsibility for issues and their resolution
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We take ownership of mistakes; we know it’s OK as long as we learn from them
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And, we share in Windings’ risks and rewards