Why do you care if Abrasives an Employee Stock Owned Partnership (ESOP)?
If you are a customer, you know that you are doing business with an employee-owner every time you deal with an ESOP. Someone that really cares about each customer individually and not just the bottom line. The customer also feels better knowing any transaction made is used to support every single employee and not some big corporation or some rich guy just getting richer. ESOP members own stock so they tend to work harder because they know each customer is valuable to each and every single one of them.
If you are an employee, you share directly in the equity growth of the company. That means as the company grows in value, so do you.
Many times companies grow and make more money for their owner or corporation. In this case, you are the owner too. Some companies share some of the profits with you and that might vary by your position in the company and the length of time so the amount might be different. Well with an ESOP, the value of each share is the same regardless of your job title or length of time. Sure, someone may own more shares than you do but the value of each share is the same regardless if you are the CEO, the Secretary, the plant worker, or the sales person…. And what is even sweeter is that unlike with 401k’s, you do not have to put anything in it… the company puts it all in for you… Tax-free!
Abrasives Inc. is proud to be Employee-owned!
Contributed by Tony Elizondo, Abrasives Inc. – MN