New NCEO Resource Page: Using an ESOP to Attract and Retain Employees

The NCEO now has a new resource page on using employee ownership to attract and retain employees. The highlight is a transcript of our January 2022 Community Conversation on the topic with ESOP companies Kwest, Johnny’s Pizza House, and Radian Research; and former ESOP company NCC Automated Systems. 

Also included is an article on how to communicate why employee ownership matters to employees now, not just when they retire; an article on the questions to ask candidates to find out if they really will fit your culture; and questions to ask in a formal stay interview,

Some of the great ideas explored in the transcript include:

• Use the word “owner” on your email signature, uniforms, and business card. It will generate conversation that can reinforce your culture and maybe attract some new people too.
• Have panel interviews that include people candidates will work with and invite conversations about ownership. Or go one step further and let candidates have one or more people from your ESOP communications committee in on this process. They will be good at explaining the ESOP and the culture, and having them involved shows the candidate how important these things are to the company.  
• Do a stay interview where you ask employees what keeps them working for you and what they need or want to continue to do so.
• Hand out a one-pager showing how the ESOP account balances can accumulate over time, or go one step further and create an interactive calculator.
• Have a weekly note written to the employees from all levels of the organization called "Thinking Like an Owner.” It could promote ideas, productivity enhancements, revenue opportunities and cost savings, or just general news.

This resource page is available exclusively for NCEO members.