Thursday, July 28, 12:30 PM ET
It’s no secret that it’s been a rough couple of years for all businesses. From the very start of the COVID-19 pandemic, business owners in the food industry were forced to rethink their business models. Shipping became more difficult for suppliers, grocery stores dealt with panic buying, and restaurants, being deemed nonessential businesses, were forced to close.
While these hardships were felt across the industry, some businesses actually had an advantage: employee ownership.
According to new research by the National Center for Employee Ownership (NCEO), ESOP food companies laid off fewer workers than comparable non-ESOP companies in 2020. They were also more likely to see an increase in revenue and their employees had higher savings and better benefits.
Join us for a conversation about this research to hear how employee ownership helped them get through a crisis that devastated the food industry.
“(Employee ownership) has been transformative for many people in the company. They have a new responsibility and have the investment in making sure this thing works for everybody.”
“(Employee ownership) is good for their communities and good for the selling shareholders and good for everybody except the Internal Revenue Service.”
“You want everyone to experience what it means to be an owner of their life and an owner of their company ... to make a difference. To engage. To learn. To grow.”
“It presents an opportunity for our people who have been with us for a long time, and certainly played a big role in whatever success we’ve had. I certainly didn’t do it alone, and I couldn’t have done it without our people.”
“This new partnership ... positions us to not just survive the pandemic but to also grow and share profits with our employees, who are now also owners.”