St. Michael’s Celebrates Employee-Ownership Month

St. Michael’s kicked off their first annual recognition of Employee-Ownership Month in October 2017. Employee Stock Ownership Plan (ESOP) companies all over the country are doing the same in recognition of October being Employee-Ownership Month. Every company has a different way of celebrating this important month and St. Michael’s is proud to announce we are doing things “the St. Michael’s Way”. We have a variety events planned every week in the month of October to include contests, giveaways, and special announcements.

St. Michael’s officially became an ESOP in 2016 and the reception has been phenomenal! The main benefit of employee-ownership is that it gives employees the ability to benefit from the value of company stock and to benefit from increases in value. This form of “spreading the wealth” helps to motivate and cultivate an ownership culture throughout the organization.

According to Forbes Magazine, ESOP companies tend to outperform when compared to similar companies that are not employee-owned, and their workers amass retirement savings at rates far exceeding the national average. For these reasons and more, it’s important to St. Michael’s that employees think, act, and feel like owners. We are proud to be hosting a variety of events throughout the month of October as our way of saying “thanks” to our employee-owners for making our company a success!