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13 Aug, 2012

Employee-owners boost success: cleveland.com

There is a proven mechanism currently available to U.S. companies to improve productivity and competitiveness and, in so doing, slow the job exodus. A financial structure exists that has allowed a large number of companies to offer their entire work forces a huge incentive to enhance both productivity and profitability: ESOPs — Employee Stock Ownership Plans — provide both front-line workers and management ownership stakes in their companies. An ESOP is a retirement plan that can be structured so that it is funded entirely by the company, thereby enabling employees to gain ownership positions without any personal financial contribution.

via Employee-owners boost success: Louis A. Guzzetti Jr. | cleveland.com.