An employee-owned company is a company owned at least 30% by the employees. In NWESI’s case, employees own 100% of the company through an ESOP (employee stock ownership plan).
After NWESI’s founders decided to retire, the company found itself in an expanding market, a growing town, and with an increased awareness—and demand—for building commissioning. Inspired by the dedication of their employees, the company board decided to form an Employee Stock Ownership Plan. This course of action would preserve the quality and reputation NWESI had already established, while giving the employees a voice in the direction of the company’s future, and further invest in their own well-being.
Further, although ESOP’s are first and foremost a retirement plan, ESOPs overall tend to perform better long term. In particular employee-owned companies tend to see a 3% higher growth rate and are 2% more profitable* when the company is invested in their EO culture.
Our priority is our people, our work, and our company. Investing in those via an employee-owned plan helps keep us thinking about the effects of our company both personally and professionally.
Our values: Teamwork, Professionalism, Quality, Integrity
How it benefits our employees
- Retirement savings
- Voice in the company’s direction
- Leadership invested in employee well-being
How we manage it
Our ESOP Culture is maintained through a series of internal communication processes headed by our Culture Committee. These individuals represent each division and work in tandem with NWESI leadership to continuously create a better work environment.
Initiatives include: team building events, state of the company annual meeting, and improving communication among all employees.
To learn more about our team, head over to our Team page.
*Data from Certified EO