RSM McGladrey ESOP Blog

Transitions

ESOP companies should always be prepared for employee owner transitions.  Statistics show that only 14% of companies have transition plans in place.  These companies recognize how the departure of an employee can impact the bottom line.

I am currently in a transition myself as I will be leaving RSM McGladrey to pursue a new and challenging opportunity.  The ESOP blog will continue under Nancy Dittmer, National Director of ESOP Services for RSM McGladrey.  Nancy has been involved in the world of ESOP's and employee ownership for more than fifteen years.  We look forward to providing another perspective on employee ownership that will delve deeper into some of the technical topics that surround ESOP's.

It has been my pleasure to share my thoughts and insights over the past several months.  Good luck in your ESOP endeavors and have a great day!

ESOP Association Annual Conference Summary

The ESOP Association's Annual Conference is over, and it was another successful event.  There are a number of awards that are presented each year and you can read the press releases for more information. I do not want to take away from the value or meaning of these awards, but I feel strongly that one of the biggest successes is the new motivation that employee owners take back to their companies.

The motivation can stem from technical knowledge, organizational change information, awards programs, but the biggest source of motivation comes from the sharing of stories in the informal settings.  This is where the passionate conversations really make an impact. 

Everywhere you look, you will see small groups of people talking about ways to improve their employee owned company.  Employee owners at all levels are seeking out ways to improve the company's performance and culture.  They leave the conference with energy to start something new or continue the efforts that may have waned.  Either way, this conference generates a lot of activity that will change the workplace in America.

RSM McGladrey is proud to support the ESOP Association's fine work and is honored to provide services to the ESOP world.

Technorati Tags: employee ownership, workplace, company performance, ESOP

Day 2 from the NCEO Annual Conference

The NCEO conference set a record for attendance.  Why?  I believe that employee ownership is riding the huge wave of business successions due to the retirement of baby boomers.  In the state of Iowa 35% of businesses are owned by people over 65 and 800 businesses are owned by people who are over 80 years old.  How is that for supporting data?  Many of the attendees are looking for viable options to transition their company and keep the jobs local.  They do not want to see their employees suffer from downsizing due to large corporate takeovers.

Another interesting trend is that every session on company culture has been standing room only.  Once again, this is a shift from prior years.  I strongly believe that employees are becoming a mainstream asset in companies today.  I will be posting a plethora of insights on company culture in the next several months.

Live from the NCEO Annual Conference

A great first day and this organization is really moving forward.  I would strongly suggest that you go to www.nceo.org and check out all of the services they have to offer.  One thing you definitely want to check out is the employee owner survey overview.  The cost for a company is minimal and the returns can be tremendous.  This survey can establish a bench mark for what employee ownership means in your organization.  It can also give you hard data on where your resources can have the most impact.  The NCEO can also customize the survey based on other needs you may have.

As a past CEO of an employee owned company, I know the value of these types of surveys.  The survey we used was not derived out of employee ownership, so we missed a great opportunity to maximize the power of employee ownership - the survey was not in existence then.  Pony up and check it out.  If you are confused or have opposing opinions, I would love to hear from you.   

The Beginning

Greetings to all of you as you visit this blog for the first time.  This blog was created to spread the news about ESOP (Employee Stock Ownership Plan).  ESOPs offer the owners an exit strategy, the employees an opportunity to become owners, and the company an opportunity to conduct business in different ways that creates more value.  Sounds too good to be true - not at all.  I will guarantee that it will be hard work, as anything successful is!

This blog will expand, explain, and converse on the topics of company culture, leadership, teamwork, participation, communication and how this can drive company performance - maybe even change the world a bit.  It will touch on technical issues of ESOPs at times, but for most of this technical conversation I will redirect you to others for this sage information.

So who am I?  I am the mad doctor, the shaman of change, the challenger of the status quo, but mainly I am just Victor.  A person who has owned his own business, led an ESOP company, worked at a YMCA camp for 13 years, held numerous other positions,  and believes in the power of people.

So without a lot of noise, a very exciting event has begun.  I encourage you to come back, post your questions, throw out new ideas, and join in this wonderful conversation about employee ownership through ESOPs.