Employee Owners make a difference.
It’s true, I am an owner of Label Technology. And so are the other 124 employees that work here. In fact, we are all employee-owners. How did that happen?
In 2007 the company was sold to the employees, transitioning Label Technology into a company known as an Employee Stock Ownership Plan (ESOP) where all employees not only receive a paycheck and benefits, they also earn stock over their years of employment.
Which means each and every one of our employees owns part of the company, each employee gets rewarded financially as the company improves, and each employee knows that the decisions they make every day regarding quality, productivity, and service will directly impact how much their shares are worth.
An ESOP Company can out-perform others.
There are over 6,700 ESOPs in the U.S. with over 14 million participants. A recent study of ESOP companies show that they out-perform non-ESOP companies by over 2% in sales, growth, and productivity. Employee-owners experience better economic outcomes across a variety of measures including median income, job tenure, and accumulate 2.5X retirement assets as employees in other plans.1
Sounds great for Label Technology employees, but what does it mean to our customers? As a 100% employee owned company, we have an extremely high employee retention rate, with our average length of employment over 10 years. Long term employees are happier, more efficient and effective resulting in a unique organizational culture. In addition to ensuring our current employees are highly motivated, our employee-owned structure allows us to attract and retain the best candidates as we continue to grow. We provide our customers with a stable, consistent experience with a genuine long-term focus on our them and their needs.
Want to know more? We love talk about our ESOP and employee owners! Watch our company video to get to know us better. And then give us a call at 800-388-1990 or contact us via email. -Marygrace Quigley, Director of Marketing Communications.
- National Center for Employee Ownership, https://www.ownershipeconomy.org/