EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)
Gold Mechanical transitioned to an Employee Stock Ownership Plan (ESOP) in 2014. This form of employee ownership has proven to benefit businesses in metrics such as efficiency, retention, and employee satisfaction.
This plan gives every employee stake in the company and encourages them to think like owners-because they are. The company's profitability directly effects the amount of growth of each employee's stock. This shift in thinking benefits the company as a whole and gives every employee a sense of ownership and accountability. An ESOP provides increased transparency to its employees and gives better insight as to what plans the company has moving forward.
An ESOP also establishes a committee which gives each section of the business proper representation. The committee discusses ways to better communicate and coordinate to best minimize waste within the company.
An Employee Stock Ownership Plan directly benefits the employees of an organization at no cost of their own. Gold Mechanical strives to give back to its employees and promote mutual loyalty with our team.