The benefits of an employee stock ownership plan (ESOP) are closely tied to finances. A more secure retirement is surely an incentive for employee owners to remain at a company. However, the incentive of future gains may wane without an empowered culture built on employee recognition.
Recently, the Society for Human Resource Management (SHRM) reported that in terms of employee satisfaction, recognition ranks third behind job security and compensation — a ranking that speaks directly to the need for an ownership culture that prioritizes employee acknowledgment.
