Build Culture, Boost Growth with Employee Ownership

There are more than 7,000 ESOPs in the United States, covering more than 14 million employee-owners. Beyond that, there are countless more organizations that have pursued their own models for employee ownership, and when you consider the benefits on company culture and business outcomes, it’s surprising that more companies haven’t followed suit. So, is employee ownership right for your business?

Employee ownership requires a strong understanding of the company’s culture, a purpose-driven direction, and avid communication with employees, particularly when it comes to finances. Many Small Giants businesses already have these systems in place, or strive to improve upon them, making employee ownership a potential route to success.

But where to begin? Join Delcie Bean, CEO of Paragus Strategic IT, as he tells of his journey to turning Paragus into an ESOP and the insights he learned along the way. Alongside him will be Jerry Ripperger, VP of Stock Plan Services Consulting at Principal, whose in-depth knowledge on the subject from an overhead perspective ranges from government influence to client experience.

During this one-hour panel discussion, you’ll learn:

  • Examples of different paths that may lead to employee ownership
  • How to determine if an ESOP is right for your company, plus possible stumbling blocks along the way and how to minimize them
  • The benefits of flexibility, potential growth, and leaving a lasting legacy that become available when you take on employee ownership
  • As well as have the chance to ask questions of your own

Delcie Bean: Delcie Bean started the company that became Paragus when he was 13 years old. As Paragus has become one of the most successful, fastest-growing IT firms in the region, Delcie has increased his commitment to humanitarian causes and dedication to the community. In 2014, he created Tech Foundry, an educational nonprofit designed to address the need for a skilled IT workforce in the region by providing in-depth training for underrepresented communities. He also believes in giving back to his employees. Paragus has a unique Employee Stock Ownership Plan (ESOP) structure that puts ownership of 40% of the company in the hands of its 50-plus employees. Paragus is a Forbes Small Giant company.

Jerry Ripperger: As an advocate for owners and employees of growing businesses, Jerry tours the country educating advisors on serving their business-owner clients. Currently he focuses on implementing employee stock ownership plans (ESOPs) and equity compensation plans (both long term incentive plans and employee stock purchase plans. Jerry is an industry-recognized benefits spokesperson and author with articles published in numerous trade publications. He’s also been quoted by the Associated Press, New York Times, BusinessWeek, Forbes, CNN/Money, Dow Jones, and Wall Street Journal. For more than 30 years, Jerry has been consulting with advisors and businesses on benefit programs including consumer-driven health care, health savings accounts, health reimbursement arrangements and wellness programs. Jerry has degrees in management, economics and business from the University of Northern Iowa and Drake University.