Why giving your employees a piece of the pie could boost your business

Employee Stock Ownership Plans hold over $1.6tn in assets and can make a more profitable company and a better place to work

Want to attract and retain more employees? Maybe giving up a piece of the pie is the answer.

The number of businesses that are giving employees a share in ownership is growing. According to the National Center of Employee Ownership in 2019 (the most recent year for which data is available), 239 new Employee Stock Ownership Plans, or ESOPs, were created, covering 46,537 participants. In total, there are approximately 6,482 ESOPs in the United States, holding total assets of more than $1.6tn, and that number is growing.