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North Carolina has the potential to turn a grave challenge into a transformative economic opportunity. Thousands of businesses could disappear over the coming years as baby boomer entrepreneurs enter retirement, threatening to deal a heavy blow to communities across the state. However, by helping many of these firms convert into employee-owned companies, we can keep their doors open, give workers an ownership stake
Jan 21, 2016 12:23:20 PM
January brings another batch of resolutions. Most, alas, will be long forgotten by the end of first quarter. Because you want to make more of your investment in ESOP ownership and engage your employees as owners, why not resolve to use the SMART process to achieve your ownership-development goals in 2016?
SMART, as you may know, stands for Specific, Measurable, Attainable, Relevant and Time-bound. Here’s how you can be SMARTer and make more of employee ownership this year.
S= Specific. What do you want to accomplish with your ESOP? What level of understanding and engagement do you want from employees? What attitudes, behaviors and actions would you like employee-owners to display in their daily jobs? Write down specifics that you want to see happen.
Blue Ridge ESOP Associates can provide everything you need to administer your ESOP, 401(k) or combination ESOP/401(k) plan. Our full service outsourcing, which can include participant on-line services, provides worry-free assistance for your HR or Benefits staff, leaving them free to concentrate on other responsibilities.