Blue Ridge ESOP Associates Industry News

“This approach got people asking questions and it cleared up a lot of misunderstandings,” noted Tom Trainor, President and Founder of Trainor Builders-- a 100% ESOP composed of highly trained construction professionals serving Northern California.

The US economy added 209,000 jobs in July, dropping the unemployment rate to 4.3%, the lowest level in sixteen years. It’s no secret that it’s getting more difficult to recruit and retain employees. Employee ownership gives you a clear advantage against the competition, but only if you effectively communicate its benefits to current and potential employees.

Here’s three practical ideas you can integrate into your written, electronic, video, and face-to-face communications to gain the employee ownership’s recruitment and retention dividends.

Some people believe in making future account balance projections. Others see them as the proverbial subway ‘third rail” of ESOP communications; something to never be touched (i.e. stay away unless you want the equivalent of fiduciary electrocution). A recent encounter with a successful ESOP company illustrated the dilemma of sharing ESOP account projections.