Celebrating ESOP Month
Posted On: October 29, 2021 by Mike Mallaro in: Employee Ownership, Social commentary, VGM, Work Culture
October is ESOP month. An ESOP is an employee stock ownership plan that gives workers equity ownership in the company in which they work. Our company, VGM Group, is a 100% ESOP, which means that all its stock is owned by our employees. There are 6,200 ESOP owned companies in the U.S., with about half of those being 100% ESOPs.
Employee-ownership was initially conceived by Benjamin Franklin as a fair way for workers to benefit from the value of their labor, a way for those...
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