Weldon Solutions has been proudly employee-owned for more than 20 years by operating as an employee stock ownership plan, or ESOP.
ESOPs act as employee benefit plans by allowing employees to have an ownership interest in the company where they work.
Despite the many pros of being employee-owned, Weldon is one of just roughly 6,500 ESOPs in the entire country. Of those, approximately 1,300 are in the manufacturing industry.
Here are five of the top benefits to Weldon of being employee-owned:
- Unlike in other organizations, ESOP employees do not put their own dollars into a retirement plan. Instead, contributions come from the employer while employees accumulate vested savings, so an ESOP offers additional retirement income and investment security.
- It gives employees an ownership stake in the company, motivating them to excel in their positions.
- That motivating factor directly translates to better outcomes for the business and the staff.
- The ESOP business structure has pushed employees to greater innovation in their work as well as encouraging new investments in leading technologies.
- The increased innovation has led to boosted offerings for our highly valued customers, along with significant business growth – so much so that we’ve recently finished an expansion of our headquarters.
“Being an ESOP offers huge benefits for our employee-owners to be invested in company stock,” said Travis Gentzler, Weldon Solutions president. “Employees get to share in the success of the company by participating in the ESOP in addition to profit-sharing bonuses.”
If you are interested in becoming an employee-owner at Weldon, contact us today to discuss opportunities for which you could be a good fit for our 40-person team.