An Employee Stock Ownership Plan (ESOP) is an employee benefit plan that allows the company to contribute its stock to the plan held in a Trust for the benefit of the employees through annual stock allocations to eligible employee participants. As an employee-owned company through an ESOP, The Tradesmen Group is owned by a trust for the benefit of our employees. This means that every eligible TTG employee team member has a stake in the company's success through shared stock ownership.
As an ESOP company, The Tradesmen Group provides employees with a unique ownership interest in the company. Eligible employee participants receive annual allocations of company stock. With a shared interest in the success of the company, employees benefit from the earned value of their stock accounts that can be used for retirement after the employee leaves the company. Commonly, ESOP employee account balances grow into substantial value over time with the employee’s dedication and commitment to the company. The ESOP structure fosters a culture of shared responsibility and commitment, as every employee has a direct stake in the company's performance and growth.
No, the day-to-day operations and management of The Tradesmen Group remain the same. The ESOP simply means that the company is owned by the employee trust rather than by private individuals or investors. This ownership structure aligns with our core values of teamwork, accountability, and working with purpose. Most importantly, as an employee-owner, you'll share in the financial success you help to create.
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