Why Be an Employee When You Can Be an Owner?

by Jodi Holland on 6/16/16 11:31 AM

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While DVL celebrated its 30th anniversary last year, it has only been operating as an employee owned company for the last 10 years. Since DVL participates in an Employee Stock Ownership program (ESOP), all employees have a stake in the company’s future. It has long been shown that the “employee owners” at employee owned businesses have a more positive attitude about their company and how they perform their work responsibilities on a daily basis. This, of course, means a more successful company, which the employees then benefit from, which encourages them to work even harder, which makes them even more successful, and so on, and so on.

So, why be an employee, when you can be an owner? DVL is currently looking for great talent to join the team. Learn more about our open positions and other employee benefits.

Also, check out these interesting ESOP statistics:

  • There are approximately 10,000 ESOPs in place in the U.S., covering 10.3 million employees (10% of the private sector workforce).
  • About 330 ESOPs - 3% - are in publicly traded companies.
  • An estimated 7,000 of the 10,000 companies have ESOPs that are large enough to be a major factor in the corporation's strategy and culture.
  • Approximately 5,000 ESOP companies are majority-owned by the ESOP.
  • Approximately 4,000 are 100% owned by the ESOP.
  • While ESOPs are found in all industries, 22% of them are in the manufacturing sector.
  • An overwhelming majority of ESOP companies have other retirement and/or savings plans, such as defined benefit pension plans or 401(k) plans, to supplement their ESOP.
  • Of the 10,000 employee-owned companies nationwide, fewer than 2% were financially distressed when they established their ESOP.
  • Total assets owned by U.S. ESOPs is estimated to be approximately $940 billion at the end of 2011.

Source: The ESOP Association http://www.esopassociation.org/ 

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