News
Construction Companies and ESOPs
Mar 2, 2021 | Timothy L. Stewart
ESOPs have become increasingly popular in the construction industry. This article discusses the inherent employee-engagement advantages that ESOPs offer, focusing on construction companies in Kansas. Most notably, a recent survey at the construction firm McCownGordon showed that 98% of employees were engaged in their 100%-employee-owned company.
It is also noteworthy that, according to the National Center for Employee Ownership, of the 2,420 “large” ESOP companies (companies with 100+ employees), 12 percent of them are in the construction industry. We are seeing this trend continuing into 2021, as ESOPs gain popularity for both general contractors and subcontractors.