Educated employees making informed decisions: Stronger education programs that inform and inspire employees on how to be stronger leaders and more engaged employees.
Stronger sense of responsibility: ESOP advisory committees give employees responsibilities as owners.
Boost in overall productivity: If the company is more successful then the business is more successful. Employees understand that their hard work makes a stronger business and a stronger business improves their pay and benefits.
Meaningful work: Studies show the millennial generation has a strong desire for a career at a place where they can really make a difference. When they have ownership in the company, workers prioritize the job.
More attractive to candidates: If you want to attract the top performers in your field, giving them an ownership in the company is just the added benefit you need to give you the recruitment edge.
Dedication and trust: Working harder makes an ESOP more valuable, so employees are more likely to reap long-term rewards. Because they feel more secure in their jobs and stronger satisfaction in their work, they trust more deeply in the firm and management.