This year, our team had the opportunity to attend the New York/New Jersey Chapter of The ESOP Association’s Spring Conference to connect with other professionals within the greater ESOP community.
The event featured speakers from various employee-owned companies, including investment bankers, valuation firms, and ESOP consultants. Sessions highlighted the importance of culture and how a people-first strategy can positively impact recruitment, increase employee retention, and lower turnover rates. Providing share price education, transparent budgeting, consistent leadership communication, and high employee engagement are all ways to bring this to life. Employees working for an ESOP have a 46% greater tenure (5.1 years vs. 3.5 years) than non-ESOP companies within comparable industries.
Another topic centered around ‘Employee Value Propositions,’ and how purpose, growth, autonomy, and community all play a key role in an employee’s overall engagement and their participation in the company’s culture. Linshuang Lu, Managing Principal at Praxis Consulting Group explains “you want someone to walk into the company and feel something tangible vs. a far-off promise in the future.” That feeling and trust is something that Butler/Till strives to earn from each one of our 350+ employee-owners. As a purpose-driven and fueled agency, we are committed to building a brighter and more financially sustainable future for each of our employee-owners by keeping ESOP education, financial literacy, and business transparency at the top of our efforts.
Also, one of the many benefits of participating in events hosted by the ESOP Association is the ability to further create connections and make a difference. Our team was able to put our minds together with our partner and fellow ESOP, Synergy to expand our network, learn about committee practices, and share tips on successful culture building.
At Butler/Till, we’re proud to be a positive force for change within the ESOP community and will continue to celebrate being a part of a movement that is focused on investing in the future of our company by first investing in our greatest asset–our people.