A recent report
published by the Employee Ownership Foundation shows that employee-owned companies have outperformed non-employee-owned counterparts throughout the pandemic. While the pandemic introduced new economic challenges, majority employee-owned companies have shown incredible resilience and ability to maintain stability.
Employee Stock Ownership Plans (ESOPs) have seen many benefits from their business model. Among these benefits are a higher ability to retain employees, maintain standard hours and maintain salaries. As compared to other firms, majority employee-owned companies were 3 to 4 times more likely to retain staff at all levels.
Beyond these impressive numbers, employee-owned companies care about their employees. Majority ESOP firms were proven “more likely to provide protective measures for employees” such as personal protective equipment and cleaning services versus other firms. They were also found more likely to send employees home to work remotely during the pandemic, allowing them to maintain their health and safety. (...)