Ferraris, Mercedes, Rolls Royces, Maseratis, Lamborghinis….just another day at South Beach, Miami, Florida. I recently spent a couple days there during the height of spring break. It was obvious that people wanted to be noticed, wanted to be different, wanted to be conspicuous.
Many companies with Employee Stock Ownership Plans (ESOPs) also want to be conspicuous, although for very different reasons. You have likely seen this in various forms:
- on their signs
- on their company vehicles
- on their shirts or other company branded attire
- in their promotional materials for prospective clients
- In their sales presentations
- in their ads for recruiting staff
Why do these companies want to be conspicuous? Because they are different, and they want everyone to know it. They want you to know that you are not dealing with just an employee, you are working with an owner.
They want clients and prospects to know that as an employee owner, their satisfaction is critical to you. You have a vested interest in their success. It is in your best interest to make sure their best interests are being served.
They want employees to know that they are part of something they can’t get everywhere else. While they may be able to get a higher salary elsewhere, they are unlikely to have the long-term upside potential of company ownership.
They want prospective employees to know that working at their company is about more than a paycheck. It is about being part of something much bigger that can provide financial benefit to them. It is about a long-term outlook.
Sometimes being seen is a great thing. You can learn more about ESOPs, including a video case study, at www.principal.com/esopbenefits.
In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Follow @twitter