October is Employee Ownership Month and being an Employee Stock Ownership Plan, or ESOP, has been a transformative journey for AVID. As a 100 percent employee-owned company, we knew it would bring significant changes, but the true impact on our culture surpassed our expectations. In this blog, we will explore the positive influence of ESOP culture on our organization, from cultivating a better sense of community to driving continuous improvement and motivation. Together, let’s dive into the world of employee ownership and celebrate the extraordinary culture that defines us.
Empowering employee ownership
ESOP stands for Employee Stock Ownership Plan—a groundbreaking concept that allows employees to own shares in their organization. This unique system grants individuals a financial stake in the company’s success, enabling them to build wealth over time. Unlike traditional stock options, ESOPs signify a long-term commitment to both the company and its employee-owners.
How ESOP culture shapes company dynamics
A stronger community bond
ESOP culture creates a strong connection among employee-owners, as they share in both the triumphs and challenges of the business. This creates a supportive environment where collaboration thrives, leading to greater job satisfaction, loyalty, and a feeling of true community. As Jacklyn Almeida, Logistics Coordinator & AVID Employee-Owner, states, “Being an employee-owned company creates an environment of support and collaboration.”
Uniting around a common purpose
At AVID, employee ownership goes beyond financial implications. It empowers individuals at every level to contribute their insights and ideas, from decision-making processes to participation in community outreach efforts. This inclusive approach not only strengthens the connection between company goals and employee satisfaction but also provides opportunities for personal growth. Elizabeth Woodard, Content & Social Media Strategist & AVID Employee-Owner, expresses, “Employee ownership means everything my teammates and I do is making a difference. We are building our future together.”
Sustainable progress and enhancement
ESOPs encourage employees to actively engage in suggesting improvements, as they have a stake in the company’s well-being. In an ESOP environment, employee-owners feel valued and appreciated by their company and its leadership, leading to increased engagement and motivation. Stephanie Woodlyn, Customer Care Manager & AVID Employee-Owner, shares her experience, “Being part of an ESOP involves me with our business on different levels, allowing us to continuously improve the way we do business.”
Elevated levels of inspiration
Employee ownership gives individuals a voice in shaping the company’s direction and success. When everyone has a vested interest in the organization’s growth, there is a shared focus, resulting in higher quality work and overall employee happiness. As Justin Kahle, Director of K-12 Sales & AVID Employee-Owner, highlights, “As an employee-owner, I am motivated every day knowing that I have a direct impact on the future growth of our company.”
Celebrating Employee Ownership Month
According to the National Center for Employee Ownership (NCEO), ESOPs have had a positive impact on numerous businesses. At AVID, employee ownership is not just a buzzword— it is ingrained in our DNA. Every employee-owner is an equally vital part of the whole, contributing to our collective success. As we celebrate Employee Ownership Month, we invite you to join us in exploring the incredible world of being part of a 100 percent employee-owned company. Together, as forward-thinking learners, let’s amplify the future for everyone.
Remember to follow us on social to learn more about the unique qualities and experiences of being an employee-owner at AVID Products!