What is an employee stock ownership plan ESOP? How does it work? How can it transform the buy-in of your team and lead to revenue growth? Jeff Taylor—the President and CEO of Crafts Technology—implemented an ESOP. Listen to this episode to hear about the impact it had on his business—and figure out whether or not it’s right for yours. Employee buy-in can lead to profitability which can lead to Making Chips! BAM!
– Jim
Segments
- [4:49] What’s happening at ZENGERS and Carr Machine & Tool
- [8:20] Disclaimer about implementing an ESOP
- [10:54] Welcome Jeff Taylor to Making Chips!
- [12:13] What is an employee stock ownership plan ESOP?
- [13:45] How Jeff got into manufacturing
- [20:15] What is Craft’s technology?
- [21:49] Choosing to create an ESOP
- [30:00] Who should consider an ESOP?
- [35:05] Pensions, profit-sharing, and ESOPs
- [39:45] What kind of return does an ESOP get?
- [45:36] Are you handing over control to your team?
Resources mentioned on this episode
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